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Business Funding Disclosure

Lendinero’s Lending or Cash Advance Options Disclosures and Our Role

This is our business funding disclosure and role disclosure.  First, the purpose of this disclosure is to describe to our clients our role. The business funding disclosure explains the relationship options Lendinero can have with borrowers, investors, and other lenders.

This business funding disclosure applies to anyone conducting business with Lendinero.

Clearly explain your role and working relationships in a transaction

First, clients often do not understand their relationship in how a business loan or business funding is provided. To illustrate, relations between lenders, role of their agent, role of who arranges their loan,  and or the relationship with funding channels. As a result, we make sure that everyone involved in a business loan, business funding or business cash advance transaction understands the role of each party.  In conclusion, business funding herein after can be a business cash advance, future receivables agreement, or any other type of funding provided to a business for business purposes.  Most important, not all business financing is classified as a loan.  Last, business financing are considered commercial transactions.

Acting as an agent
When you agree to act for someone else, you become the agent for that person.

Your brokerage may choose one of three relationship options
Your mortgage brokerage may choose one of the following relationship options:

  • acting as an agent for the lender
  • acting as an agent for the borrower
  • acting as an intermediary

Depending on the situation, your brokerage may have different relationships with different lenders and borrowers. Each relationship carries different roles and obligations.

When Lendinero acts as a Direct Lender
Lendinero can act as direct lender in certain states but not all states. We will verify the state.  Lendinero may use their own capital or investors capital to complete your business loan or business funding request. You will receive an agreement by Lendinero and lendinero has the right to collect payments and use other collection methods in the case of a default to collect any outstanding principal and interest payment due on the business funds provided to the borrower.

When Lendinero acts forms part of syndication as a Syndicate Lender
Lendinero can provide 1% to 50% of the funds to fund a loan with a Direct Lender. Under this scenario the agreement would come from the Lender and the agreement will disclose the name of the Lender.  In some cases, we may have a white label agreement and the agreement may have the Lendinero logo and other information.  Under this scenario, Lendinero shares the liability on the loan with the Lender and the Lender and Lendinero has the right to collect payments and any outstanding principal and interest balance in the event of a default provided to the borrower. Lendinero can collect said payments via a third-party payment provider or owner of record.

When Lendinero acts as an intermediary between the lender and borrower
When Lendinero is not representing the lender or the borrower, it can act as an intermediary between them, offering business funding products from multiple lenders to the borrower.

When dealing with the borrower as an intermediary, we:

  • Act with reasonable care and skill
  • gather information on the borrower as to their needs and wants to obtain finance and the borrower’s financial situation
  • determine the lending options available to the borrower
  • explain the available options to the borrower
  • complete the necessary documents and submit them to the lender
  • inform the borrower about the applications progress
  • the loan agreement will come directly from the lender and the borrower can consult any terms and conditions of their contract prior to executing the contract or obtaining funding
  • the final relationship with the client is with the lender and not lendinero.  The lender will own the loan. The borrower has the right to make any questions and or raise any concerns with the Lender prior to funding or executing a contract.  The contract you sign in the end are the final terms and conditions of any funding agreement and if you execute said agreement it is the final agreement as to the rate, terms and conditions of any funding which you may receive.  If you don’t understand the agreement, please consult with an agreement, a translator, a certified financial planner, a certified public accountant or with any third party.  Once you execute the agreement and accept the funds in your bank account you are agreeing with such terms and the terms and conditions will not be modified, unless if you request a loan modification due to hardship and your request may or may not be accepted by Lendinero, if we act as the direct lender or any of our funding partners.  It is at our sole discretion or the the discretion of our funding partners or investors if they own the loan to make such modifications.

When dealing with the lender as an intermediary, we:

  • Act with reasonable care and skill
  • complete the necessary documents and submit them to the lender
  • explain how your brokerage verified information and supporting documents in the application process
  • inform the lender about the application’s progress

The loan process, proposals, pre-approvals and business funding agreements
A loan offer, a proposal verbal, via email, or any other form of communication is an estimate and just a proposal of what the borrower may obtain.  The final terms and conditions are fully disclosed on the loan agreement.  We or the lender may provide you with an addendum to the business funding agreement subject to certain conditions such as early payment discounts, renewal options, etc. We provide you with a good faith estimate of what the terms are likely to be in the end and we will not be held liable on any quotes or proposals of payments and terms provided to the borrower until the final agreement is provided to the borrower by Lendinero, an Investor, a Funding Partner, or a Direct Lender.

Several case scenarios exist.  First case, we may provide you with a loan proposal and a business funding agreement and upon signing the agreement there is an underwriting process.  Upon executing the agreement Lendinero nor its funding partners are not committed or cannot guarantee that we will fund your business because we, the lender, funding partners and or investors will conduct our due diligence. The borrower may be denied for the loan at that given point in time.  The borrower may obtain funding with the same terms and conditions of the contract you signed with the same terms and conditions. Last, a counteroffer may be provided with a new agreement.

Second, you may sign the agreement and the same terms and conditions will apply and you will receive funding. Please consult an attorney prior to signing any agreement.  Also, there is no obligation on your part if you sign a business funding agreement to accept funding.  You may cancel the request for funding at any time during the process or prior to funding.  If there is a difference between any proposals or quotes versus the final business funding agreement please consult us by writing to contact@lendinero.com so we can provide you with an explanation.  If you don’t agree with the terms and conditions of any funding agreement provided to you, you are under no obligation to sign and accept the funds.

If we, Lendinero  (1) sign an agreement or provide you an agreement to provide you specific terms and conditions on a loan and one of our officers or person who has the authority to sign that agreement (2) we conduct an underwriting process and you the borrower meet the guidelines or criteria (3) you sign the agreement, there is an obligation for Lendinero to provide you with the terms and conditions contained within the business funding agreement.  Emails, verbal, or any other form of communication does not constitute an executed agreement by both parties.

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