These terms are between the business seeking financing (the “Borrower”), the individual acting on behalf of the Borrower as principal shareholder, partner, member or other responsible party (the “Responsible Party”) and Lead Bank and Credit Key and their agents, servicers and any assignees (collectively “Lender”, “we,” “us,” or “our”). “You” and “your” mean the Borrower and Responsible Party collectively.
By submitting your application to us, you agree to each of the terms of conditions set forth below (the “Terms”). By agreeing to the Terms, you also acknowledge that you:
• Have received notice of our privacy policy and Credit Key’s privacy policy, and you were presented with a link to read each in full prior to submitting your application.
• Agree that we may share the status of your application, information about your account, and other information about you with vendors from which you have purchased goods or services if those goods or services are financed by us or you have applied to have those goods or services be financed by us.
• Completed every aspect of the application truthfully and in good faith.
In order to use the payment functionality of Credit Key's application, you must open a "Dwolla Platform" account provided by Dwolla, Inc. and you must accept the Dwolla Terms of Service and Privacy Policy. Any funds held in the Dwolla account are held by Dwolla's financial institution partners as set out in the Dwolla Terms of Service. You authorize Credit Key to share your identity and account data with Dwolla for the purposes of opening and supporting your Dwolla account, and you are responsible for the accuracy and completeness of that data. You understand that you will access and manage your Dwolla account through Credit Key's application, and Dwolla account notifications will be sent by Credit Key, not Dwolla. Credit Key will provide customer support for your Dwolla account activity, and can be reached at support@creditkey.com.
USA PATRIOT ACT NOTICE: IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
ADVERSE ACTION DISCLOSURES: If we take adverse action with respect to your application, you may request a statement of specific reasons for our decision if you request such a statement from us within 60 days of us providing notice of our decision to you. We will provide such a statement within 30 days of receiving your request for the statement. You may make such a request by contacting Lead Bank. Notice: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal agency that administers compliance with this law concerning this creditor (Lead Bank) is Division of Depositor and Consumer Protection, National Center for Consumer and Depositor Assistance, Federal Deposit Insurance Corporation, 1100 Walnut Street, Box #11, Kansas City, MO 64106.
TEXT MESSAGING: By agreeing to these Terms, you authorize us, our assigns, successors or servicing agents to send SMS Statement Notifications (as defined below) to any phone numbers provided to us, our assigns, successors or service agents in connection with your relationship with us, including your application, any loans with us, and any other agreements with us. This applies to any phone numbers you provide now or in the future. As used in this Disclosure, “SMS Statement Notifications” means any SMS (text message), MMS, iMessage, or equivalent mobile communications from us to you pertaining to your loan sent to the phone numbers provided in connection with this loan, including but not limited to payment information, account information, due dates, delinquent accounts, program updates, and other marketing messages.
• How To Unsubscribe: You may withdraw your consent to receive SMS Statement Notifications by calling us at (310) 622-4420 and requesting we turn off notifications. At our option, we may treat your provision of an invalid mobile phone number, or the subsequent malfunction of a previously valid mobile phone number, as a withdrawal of your consent to receive SMS Statement Notifications. We will not impose any fee to process the withdrawal of your consent to receive SMS Statement Notifications. Any withdrawal of your consent to use SMS Statement Notifications will be effective only after we have a reasonable period of time to process your withdrawal.
• To request additional information, contact us by telephone at (310) 622-4420.
• In order to access, view, and retain SMS Statement Notifications that we make available to you, you must have: (1) an SMS-capable mobile phone, (2) an active mobile phone account with a communication service provider; and (3) sufficient storage capacity on your mobile phone.
• All SMS Statement Notifications in electronic format from us to you will be considered “in writing.”
• There is no service fee for SMS Statement Notifications but you are responsible for any and all charges, including but not limited to fees associated with text messaging, imposed by your communications service provider. Other charges may apply. Such charges may include those from your communications service provider. Message frequency depends on account settings.
• Additionally, you agree that we may send any SMS Statement Notifications through your communication service provider in order to deliver them to you and that your communication services provider is acting as your agent in this capacity. You agree to provide a valid mobile phone number for these services so that we may send you certain information about your loan. Additionally, you agree to indemnify, defend and hold us harmless from and against any and all claims, losses, liability, cost and expenses (including reasonable attorneys’ fees) arising from your provision of a mobile phone number that is not your own or your violation of applicable federal, state or local law, regulation or ordinance. Your obligation under this paragraph shall survive the termination or expiration of the Terms.
• Receipt of each SMS Statement may be delayed or impacted by factor(s) pertaining to your communications service provider(s). We will not be liable for losses or damages arising from any disclosure of account information to third parties, non-delivery, delayed delivery, misdirected delivery or mishandling of, or inaccurate content in, the SMS Statement Notifications sent by us.
We may modify or terminate our text messaging services from time to time, for any reason, and without notice. This includes the right to terminate text messaging with or without notice and without liability to you, any other user, or third party.
YOU MAY OPT-OUT OF THIS ARBITRATION AGREEMENT.
ARBITRATION AND CLASS ACTION WAIVER: Except as otherwise stated below, any Claim (as defined below) will be resolved by binding arbitration pursuant to (a) this Arbitration Provision and (b) the code of procedure of the national arbitration organization to which the Claim is referred (as in effect when the Claim is filed). Claims will be referred to either Judicial Arbitration and Mediation Services (“JAMS”) or the American Arbitration Association (“AAA”), as selected by the party electing to use arbitration. Streamlined arbitration procedures will be used if available. If a selection by us of one of these organizations is unacceptable to you, you have the right, within 30 calendar days after you receive notice of our election, to select the other organization listed to serve as arbitration administrator. For purposes of this Arbitration Provision, “Claim” means any claim, dispute or controversy (whether in contract, tort, or otherwise) past, present or future, (collectively, "Claims") as further described below. (If for any reason a selected organization cannot, will not or ceases to serve as an arbitration administrator, you or we may substitute another arbitrator or arbitration organization that uses a similar code of procedure and is mutually acceptable to both parties, in accordance with Section 5 of the Federal Arbitration Act. If both parties cannot agree on an arbitration organization, then either party may ask a court of competent jurisdiction to appoint a qualified arbitration organization.) An arbitration proceeding can decide only your or our Claims. You cannot join other parties (or consolidate Claims). Neither you nor we will be permitted to arbitrate claims on a class-wide (that is, on other than an individual) basis.
Small Claims Court Option. All parties shall retain the right to seek adjudication of an individual (and not class or representative) Claim in a small claims tribunal in the county of your principal place of business for disputes within the scope of such tribunal’s jurisdiction. Any dispute, which cannot be adjudicated within the jurisdiction of a small claims tribunal (including claims transferred by the small claims tribunal to another court) shall be resolved by binding arbitration. Any appeal of a judgment from a small claims tribunal shall be resolved by binding arbitration.
SIGNIFICANCE OF ARBITRATION; LIMITATIONS AND RESTRICTIONS. IN ARBITRATION, NEITHER YOU NOR WE WILL HAVE THE RIGHT TO (i) HAVE A COURT OR JURY DECIDE THE CLAIM BEING ARBITRATED, (ii) ENGAGE IN PRE-ARBITRATION DISCOVERY (THAT IS, THE RIGHT TO OBTAIN INFORMATION FROM THE OTHER PARTY) TO THE SAME EXTENT THAT YOU OR WE COULD IN COURT, (iii) PARTICIPATE AS A REPRESENTATIVE OR MEMBER OF ANY CLASS OF CLAIMANTS IN A CLASS ACTION, IN COURT OR IN ARBITRATION, RELATING TO ANY CLAIM SUBJECT TO ARBITRATION OR (iv) JOIN OR CONSOLIDATE CLAIMS OTHER THAN YOUR OWN OR OUR OWN. OTHER RIGHTS AVAILABLE IN COURT MAY NOT BE AVAILABLE IN ARBITRATION. Except as set forth below, the arbitrator’s decision will be final and binding. Only a court may decide the validity of items (iii) and (iv) above. If a court holds that items (iii) or (iv) are limited, invalid or unenforceable, then this entire Arbitration Provision will be null and void. You or we can appeal any such holding. If a court holds that any other part(s) of this Arbitration Provision (other than items (iii) and (iv))
are invalid, then the remaining parts of this Arbitration Provision will remain in force. An arbitrator will decide all other issues pertaining to arbitrability, validity, interpretation and enforceability of this Arbitration Provision. The decision of an arbitrator is as enforceable as any court order and may be subject to very limited review by a court. An arbitrator may decide any Claim upon the submission of documents alone. A party may request a telephonic hearing if permitted by applicable rules. The exchange of non-privileged information relevant to any Claim, between the parties, is permitted and encouraged. Either party may submit relevant information, documents or exhibits to the arbitrator for consideration in deciding any Claim.
Right to Opt-Out of Arbitration. You may opt-out of this Arbitration Provision. If you do so, neither you nor we will have the right to engage in arbitration. Opting out of this Arbitration Provision will have no effect on any of the other provisions in this Agreement. In your opt-out notice, you must give us the following information: Name, Address and the Effective Date of this Agreement. The right to opt-out granted here applies solely to this Arbitration Provision, and not to any other provision of this Agreement or to any other relationship or agreement with us. In the event of a dispute over whether you have provided a timely opt-out notice, you must provide proof of delivery. You may opt out or this Arbitration Provision for ninety (90) calendar days following the date of this Agreement by notifying us via email to support@creditkey.com or phone to (310) 622-4420.
Broad Meaning of "Claims." The term "Claims" in this Arbitration Provision is to be given the broadest possible meaning and includes (by way of example and without limitation) Claims arising from or relating to (i) this Agreement, (ii) any transactions effected pursuant to this Agreement, (iii) terms of or change or addition of terms to this Agreement, (iv) collection of your obligations arising from this Agreement, (v) advertisements, promotions or oral or written statements relating to this Agreement or any transactions between us pursuant to this Agreement, including any Claims regarding information obtained by us from, or reported by us to, credit reporting agencies or others, (vi) Claims between you and us or our parent corporations, wholly or majority owned subsidiaries, affiliates, predecessors, successors, assigns, agents, independent contractors, employees, officers, directors or representatives arising from any transaction between us pursuant to this Agreement and (vii) Claims regarding the validity, enforceability or scope of this Arbitration Provision or this Agreement including but not limited to whether a given claim or dispute is subject to arbitration.
Arbitration Procedure and Fees. For a copy of relevant codes of procedure, to file a Claim or for other information about JAMS and AAA, write them, visit their web site or call them at: (i) for JAMS, 1920 Main Street, Suite 300, Irvine, CA 92614, info@jamsadr.com, http://www.jamsadr.com, or 1-800-352-5267; or (ii) for AAA, 1633 Broadway, 10th Floor, New York, NY 10019, websitemail@adr.org, http://www.adr.org, or 1-800-778-7879. If any party fails to submit to arbitration following a proper demand to do so, that party will bear the costs and expenses, including reasonable attorneys’ fees, incurred by the party compelling arbitration. Any physical arbitration hearing will be held in the federal judicial district selected by Borrower. No matter which party initiates the arbitration, we will advance or reimburse filing fees and other costs or fees of arbitration. Each party will initially be responsible for its own attorneys’, experts’ and witness fees and related costs and expenses. Unless prohibited by law, the arbitrator may, applying applicable law, award fees, costs and reasonable attorneys’ fees and expenses to the party who substantially prevails in the arbitration. The allocation of fees and costs relating to an appeal in arbitration will be handled in the same manner. For an explanation and schedule of the fees that may apply to an arbitration proceeding, please contact the organizations at the addresses above. The appropriate fee schedule in effect from time to time is hereby incorporated by reference into this Arbitration Provision. The cost of arbitration may be higher or lower than th cost of bringing a Claim in court, depending upon the nature of the Claim and how the arbitration proceeds. Having more than one Claim and holding a physical arbitration hearing can increase the cost of arbitration.
Governing Law for Arbitration. This Arbitration Provision is made pursuant to a transaction involving interstate commerce, and will be governed by the Federal Arbitration Act ("FAA"), 9 U.S.C. §§ 1 et seq., as amended, notwithstanding any other governing law provision in this Agreement. The arbitrator will apply applicable substantive law consistent with the FAA and applicable statutes of limitations and will honor claims of privilege recognized at law. Judgment upon any arbitration award may be entered and enforced in any court having jurisdiction. The arbitrator’s decision will be final and binding, except for any right of appeal provided by the FAA, in which case any party can appeal the award to a three-arbitrator panel administered by the selected arbitration administrator. The panel will reconsider de novo (that is, without deference to the ruling of the original arbitration) any aspect of the initial award requested by the appealing party.
Continued Effect of Arbitration Provision. This Arbitration Provision will continue to govern any Claims that may arise without regard to any termination or cancellation of this Agreement. If any portion of this Arbitration Provision (other than the provisions prohibiting class-wide arbitration, joinder or consolidation) is deemed invalid or unenforceable under the FAA, it will not invalidate the remaining portions of this Arbitration Provision. If a conflict or inconsistency arises between the code of procedures of the selected arbitration administrator and this Arbitration Provision, this Arbitration Provision will control.
OTHER TERMS AND CONDITIONS:
You agree to the following:
• In some situations, errors may occur during the application process that prevent us from returning an instant decision and/or giving immediate access to approved funds.
• Rates are assigned at application approval and are based on the applicant’s creditworthiness.
• Our standard payment delivery time is one business day or less. Payment delays may occur due to holidays, system maintenance, or other such events.
• Your loan repayments will be automatically drawn for your bank account on the schedule to which you have agreed.
Credit Key and Lead Bank are required to provide you with certain loan and other disclosures in conjunction with the provision of the Credit Key Services (the “Services”). This E-Sign Consent Agreement (the “Agreement”) constitutes your consent to receive such disclosures as well as other account information and details from Credit key and Lead Bank electronically. Such consent also means that any electronic signature or website consent agreement has the same effect as a handwritten signature. Credit Key or Lead Bank may modify the terms and conditions of this Agreement at any time and will provide you with electronic notice of any such modification.
I. Customer Consent
Before obtaining a loan with Credit Key or Lead Bank, you must consent to the Terms of Service provided above. By providing your electronic signature to this Agreement, you hereby consent and agree to the following:
1. We may send you any and all communications, billing statements, privacy notices, or disclosures via the email address you provided to us or your Credit Key merchant partner (as applicable).
2. We will notify you of all disclosures not provided on our website in your borrower portal and such disclosures will be available to you for a minimum of thirty days.
3. Credit Key and Lead Bank may provide disclosures required by law and any other information about your legal rights and duties and your account to you electronically.
4. This consent applies to any past, present, or future transaction or receipt of documents or disclosures with Credit Key and/or Lead Bank.
II. Minimum Requirements
You understand that, in order to view and/or retain copies of the disclosures, you will need a computer with an Internet connection (PCs should be running the latest version of Windows and Microsoft Edge, Chrome, or Firefox; Macs should be running the latest version of MacOS and Safari, Chrome, or Firefox); a mobile device (for Apple, the latest version of iOS running Safari or Chrome; for Android, the latest version of Android OS running Android Browser or Chrome), a valid email address, a working mobile telephone number that can receive text messages, sufficient storage space to save disclosures or the capability to print the disclosures from the device on which you view them. You may also need Adobe Acrobat or similar software to view PDF files. You can download Adobe Acrobat reader for free at https://get.adobe.com/reader/.
III. Withdrawing Consent
You are free to withdraw your consent at any time. You may withdraw such consent through written communication to Credit Key, 145 S Fairfax Ave, Suite 200, Los Angeles, CA 90036, through the “contact us” link at www.CreditKey.com, or via email at support@Creditkey.com. If you withdraw your consent to future electronic communications, your prior consent to any agreements, disclosures and acknowledgements, disclosures or other documents will not be affected and such consent still remains in full force and effect. Additionally, your account may be closed and any further access or utilization of your trade credit limit terminated. You agree to pay any amount owed to Credit Key or Lead Bank even if you withdraw your electronic consent and we limit access or terminate your account.
IV. Paper Delivery of Disclosures
You may request a paper copy of any disclosure at no charge within 30 days of the date of the disclosures. To make a request, write to Credit Key, 145 S Fairfax Ave, Suite 200, Los Angeles, CA 90036, specifying in detail the disclosure you would like to receive in paper form.
V. Updating Your Email Address
You can change your email address by writing to Credit Key, 145 S Fairfax Ave, Suite 200, Los Angeles, CA 90036.
