Welcome to Mom and Pop Business Funding. These Terms and Conditions govern your access to and use of our services, including small business loans and merchant cash advances provided via our ISO partners. By using our services, you agree to be bound by these terms, so please read them carefully.
1. Definitions
- Company: Refers to Mom and Pop Business Funding.
- Customer: Refers to any individual, business, or entity that applies for or receives funding services from the Company.
- ISO Partners: Independent Sales Organizations that partner with the Company to provide loan and funding services.
- Merchant Cash Advance: A funding option based on future sales revenue.
- Unsecured Business Loan: A loan provided without requiring collateral from the borrower.
2. Eligibility for Services
To apply for or use any of our funding services, you must meet the following criteria:
- Be a registered and operational business.
- Be at least 18 years of age.
- Have a verifiable source of business revenue.
- Meet the creditworthiness and other financial requirements as set forth by the Company or its ISO partners.
- By applying for funding, you represent and warrant that all information provided is accurate, complete, and up-to-date.
3. Application Process
- To apply for funding, the Customer must complete the application form provided on the Company’s website or through our ISO partners.
- The Customer agrees to provide truthful and accurate information during the application process.
- The Company reserves the right to request additional documentation or verification before approving or denying any application.
4. Funding Terms
- Loan Amount: The loan or advance amount will be determined based on the application review, business revenue, and creditworthiness.
- Use of Funds: Funds provided by the Company can be used for any lawful business purpose, including inventory purchase, payroll, marketing, or business expansion.
- Funding Period: Typically, funding will be provided within 1 to 2 business days of approval.
- Repayment: Repayment terms vary based on the type of funding and will be outlined in the funding agreement.
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5. Fees and Costs
- Interest Rates and Fees: Specific fees, rates, and any associated costs will be clearly outlined in the funding agreement. This may include interest charges, late fees, and processing fees.
- Service Fees: A service fee may apply for using certain funding services, which will be specified in the agreement.
- Non-Payment and Defaults: If the Customer fails to make a scheduled payment or otherwise defaults on the loan or advance, additional fees may apply. The Company reserves the right to take legal action, report to credit bureaus, or pursue collections as necessary.
6. Repayment and Collection
- Automatic Repayment: In most cases, repayment will be automatically deducted from your business’s daily or weekly sales, depending on the agreement.
- Default: If the Customer fails to make payments as required, the Company reserves the right to accelerate the loan, making all unpaid amounts due immediately.
- Additional Remedies: In case of default, the Company may engage in collections, file legal claims, or report the default to credit reporting agencies.
7. Privacy and Data Security
The Company is committed to protecting your personal and business data. We adhere to applicable privacy laws and ensure that your information is collected, stored, and used securely.
- Collection of Data: We collect information necessary for processing your funding application, including business and personal financial data.
- Use of Data: Your information will be used solely for processing your application, verifying your business, and managing your account.
- Third Parties: Your data may be shared with our ISO partners or other relevant third parties only for the purpose of facilitating the funding services.
For further details, please refer to our [Privacy Policy].
8. Disclaimers
- No Guarantee of Approval: Submission of an application does not guarantee approval for funding. Approval is at the sole discretion of the Company and its ISO partners.
- Liability: The Company is not liable for any loss or damages incurred as a result of the funding process, except where explicitly stated in the funding agreement.
- No Financial Advice: The Company’s services are provided for informational purposes only and do not constitute financial or legal advice. Customers should seek their own independent financial and legal advice before entering into any funding agreement.
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9. Termination
- The Company reserves the right to terminate or refuse services to any Customer at any time for violating these terms or for any other reason deemed necessary by the Company.
- The Customer may terminate the agreement by repaying any outstanding loan or advance and notifying the Company in writing.
10. Governing Law
These Terms and Conditions are governed by and construed in accordance with the laws of [Insert Jurisdiction]. Any disputes or claims arising from the use of the Company’s services will be subject to the exclusive jurisdiction of the courts of [Insert Jurisdiction].
11. Changes to Terms
The Company reserves the right to update or modify these Terms and Conditions at any time. Customers will be notified of any changes via email or through updates on the Company’s website. Continued use of the Company’s services after such changes constitute acceptance of the updated Terms and Conditions.