The terms of this Application Agreement were last revised on 3/22/2022.
By indicating your agreement to these terms (by confirming your acceptance by clicking below after reviewing this document), you, in your individual capacity and/or, if applicable, for and on behalf of any other individual person, business, corporation, limited liability company, partnership or other entity listed in the within application (the “Application”) (you and/or such other person or entity submitting the within Application are referred to herein as the “Applicant” or “you”), represent, warrant and covenant and agree to the terms and conditions of this Application Agreement, as follows:
- That you are authorized on behalf of the Applicant (whether for yourself and/or another Applicant) to make and submit this Application, to submit any accompanying documents, and to provide the consents and authorizations set forth below.
- That, should this Application be approved, you are duly authorized and have full power and authority to sign any and all loan, business, financing, credit, collateral, security interest and other agreements, notes, instruments, certificates, authorizations, consents, releases, applications and documentation for and on behalf of the Applicant. Please be advised that certain loan, financing, credit and similar business or commercial financial products (“Financing Products”) or any contract, agreement or business transaction between the Applicant and Loanspark or any Marketplace Participant (as defined below) (“Transactions”), as contemplated in connection with this Application, may require a personal guarantee.
- That all information provided by Loanspark, LLC or on behalf of the Applicant to Loanspark, LLC and/or its representatives, subsidiaries and affiliates (collectively, “Loanspark” or “we”) and/or its designated or potential lenders, purchasers and other financing credit or network participants (“Marketplace Participants”) is accurate, true and complete and that you will immediately notify Loanspark, LLC Loanspark of any change in such information.
- That Loanspark, LLC Loanspark and the Marketplace Participants will rely on the accurateness, truthfulness and completeness of such information provided by or on behalf of the Applicant.
- That Loanspark, LLC Loanspark may release and share all information and documents, including without limitation, consumer credit reports obtained for the Applicant, with the Marketplace Participants to process, underwrite, manage, administer, source, market, fulfill, monitor, handle and/or service the Application, the Applicant’s requests, or otherwise in connection with Financing Products or any other Transaction. You hereby expressly consent to such release or sharing of information and documents between Loanspark and Marketplace Participants.
- That Loanspark, LLC Loanspark and its Marketplace Participants may release and share information and documentation they have about the Applicant at any time for administrative, processing, underwriting, sourcing, handling, monitoring, marketing, servicing and other similar business purposes in connection with Financing Products or any other Transaction as permitted by law and, if applicable, that your personal information may be shared with any other Applicant as part of the Application process or any Financing Products or other Transactions. You hereby expressly consent to such release or sharing of information and documents between Loanspark and Marketplace Participants.
- That Applicant’s authorization hereinabove for release and sharing of Applicant’s information and documents, including credit reports, shall constitute Applicant’s written consent, approval and instructions under the Fair Credit Reporting Act, including all regulations promulgated pursuant thereto, if applicable.
- That if you do not want any information about the Applicant shared with Marketplace Participants, including consumer credit reports, then you shall not proceed with this Application and shall exit this website of Loanspark. You can withdraw your consent to release and sharing of information about the Applicant, including consumer credit reports, or opt out at any time by contacting Loanspark at [email protected]. Please note that if you choose to withdraw your consent and/or opt out accordingly, Loanspark will no longer be able to identify potential matches for your business needs for Financing Products or other Transactions, and you should stop using the services and website of Loanspark.
- That the Applicant waives and releases, to the maximum extent permitted by applicable law, any claims against any information provider and against Loanspark and all Marketplace Participants relating to the sharing or release of the Applicant’s information to Loanspark or any Marketplace Participant in connection with the Application or any Financing Products or other Transactions.
- That the Applicant hereby authorizes Loanspark and its Marketplace Participants to file applicable UCC financing statements or other similar security or collateral documents relating to any contemplated Financing Products or other Transactions.
APPLICANT UNDERSTANDS THAT THIS IS AN APPLICATION FOR A COMMERCIAL FINANCING PRODUCT OR OTHER COMMERCIAL TRANSACTION, AND THAT ANY FINANCING PRODUCTS OR OTHER TRANSACTION FUNDS OFFERED TO APPLICANT MAY NOT BE USED FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES.
IMPORTANT INFORMATION ABOUT OPENING A NEW ACCOUNT
Federal law requires all financial institutions to obtain, verify and record information that identifies each person and entity that opens an account or establishes a relationship with such institution, including name, address, date of birth, social security or tax identification number and other information that will allow the financial institution to verify your and/or the entity’s identity. You may also be asked to provide identifying documents.