Terms and Conditions for Lending Services

1. Loan Amount and Purpose

1.1 Loan Amount: We offer loans of up to $25,000 for individuals with subprime credit histories.

1.2 Loan Purpose: Loans are provided for personal, non-commercial use only. The loan must not be used for any unlawful activities or business purposes.

2. Loan Terms

2.1 Loan Amount: The amount you are eligible to borrow is based on your credit profile, income, and other relevant financial information. Your loan amount will be disclosed to you upon approval.

2.2 Interest Rate: Interest rates for loans range from 7.5% to 15% annually. The specific rate applicable to your loan will be disclosed in the loan offer, based on your creditworthiness and other qualifying criteria.

2.3 Loan Term: Loan terms typically range from 6 months to 5 years. The exact term of the loan will be stated in your loan agreement.

2.4 Repayment Schedule: Repayments are generally due on a monthly basis. Your repayment schedule, including the amounts and due dates, will be detailed in your loan agreement.

3. Interest and Fees

3.1 Interest Charges: Interest will be charged on the principal loan balance. The interest is calculated on an annual percentage rate (APR) basis and will accrue from the date the loan is disbursed.

3.2 Late Fees: If your payment is not made by the due date, a late fee will apply. The late fee will be specified in your loan agreement.

3.3 Returned Payment Fees: If a payment is returned due to insufficient funds or other reasons, you will be charged a returned payment fee. The fee amount will be disclosed in the loan agreement.

3.4 Prepayment: You may repay the loan in full or in part before the due date without incurring any prepayment penalties. Prepayment may reduce the total interest paid on the loan.

4. Eligibility and Application Process

4.1 Eligibility Criteria: To qualify for a loan, you must meet the following basic requirements:

• Be at least 18 years of age.
• Be a U.S. citizen or permanent resident.
• Have a valid bank account for loan disbursement and repayment.
• Provide documentation of steady income and employment history.
• Have a subprime credit history that qualifies you for the loan under our underwriting guidelines.

4.2 Application Process: To apply for a loan, you must complete an online or in-person application and provide personal, financial, and employment information. We may perform a credit check and evaluate your financial standing to determine loan eligibility and terms.

5. Loan Disbursement

5.1 Disbursement: Upon approval, the loan funds will be disbursed to your designated bank account within [Insert number of business days] business days.

5.2 Loan Use: The funds must be used only for the purpose stated in your loan application. You are prohibited from using the loan for any illegal activity or for business purposes.

6. Repayment

6.1 Repayment Terms: You agree to repay the loan according to the repayment schedule provided in your loan agreement. This may include principal and interest payments on a monthly basis.

6.2 Loan Default: You will be considered in default if:

• You fail to make a payment on time.
• You provide false or misleading information during the application process.
• You declare bankruptcy or become insolvent.

6.3 Consequences of Default: If you default on the loan, the entire remaining loan balance, including interest and fees, may become immediately due and payable. We may also pursue other collection methods, including turning your account over to a collections agency or initiating legal action.

6.4 Prepayment: You may repay the loan early without penalty. Early repayment will reduce the interest you owe and may shorten the total length of the loan.

7. Privacy and Data Security

7.1 Collection of Personal Information: By applying for and accepting the loan, you consent to the collection, use, and sharing of your personal and financial data, which we use to process your loan application and manage the loan account. Your information will be handled in accordance with our Privacy Policy.

7.2 Data Security: We implement reasonable security measures to protect your personal and financial information. However, no online transmission is entirely secure, and we cannot guarantee the security of your data.

8. Modifications to Terms

8.1 Changes to Terms: We reserve the right to modify these Terms and Conditions at any time. Changes will be effective immediately upon posting on our website or notifying you via email.

8.2 Notification of Changes: We will notify you of material changes to these Terms through email or other communication channels. Continued use of our services after such changes will constitute your acceptance of the modified Terms.

9. Dispute Resolution

9.1 Arbitration: Any dispute, claim, or controversy arising from or related to this Agreement or the loan shall be resolved through binding arbitration conducted by the American Arbitration Association (AAA) under its Consumer Arbitration Rules.

9.2 Class Action Waiver: You agree that any arbitration will proceed on an individual basis and not as part of a class action or collective action.

9.3 Venue and Jurisdiction: The arbitration shall take place in [Insert State or City], and all legal proceedings will be governed by the laws of the state of [Insert State], regardless of its conflict of law principles.

10. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the state of [Insert State], without regard to its conflict of laws principles.

11. Limitation of Liability

11.1 No Liability for Losses: We are not responsible for any indirect, incidental, special, or consequential damages arising from your use of the loan, including but not limited to loss of income, loss of opportunity, or financial hardship.

11.2 Maximum Liability: Our liability is limited to the total loan amount and any associated interest or fees, except where prohibited by applicable state law.

12. Miscellaneous

12.1 Entire Agreement: This Agreement, together with the loan application and the loan agreement, constitutes the entire agreement between you and us regarding your loan.

12.2 Severability: If any provision of this Agreement is deemed invalid or unenforceable, the remaining provisions shall remain in effect.

12.3 Assignment: We may assign or transfer our rights or obligations under this Agreement to a third party without your consent, and you may not assign or transfer your rights or obligations without our prior written consent.

13. Contact Information

If you have any questions or concerns about this Agreement, please contact us at:

[Lender Name]

Address: 11300 NE 2nd ave Miami shores FL 33161

Phone: 347 572 6726

Email: support@preferredcashadvance.com