READ THESE TERMS BEFORE YOU APPLY. These Terms of Service form a binding agreement between you and Debt Borrow To Invest, LLC (“DBTI,” “we,” “us”), an Illinois limited liability company at 5060 N Marine Dr, Chicago, IL 60640-3273. By submitting an application, opening an account, or otherwise using our website, app, or services (the “Services”) you accept these Terms. Section 13 contains an arbitration agreement that affects how disputes are resolved; you may opt out within thirty days as set out below.
1Acceptance
Using the Services means you have read, understood, and agreed to be bound by these Terms and by our Privacy Policy, which is incorporated by reference. Material changes are governed by Section 19. Continued use after the effective date of any modification constitutes acceptance.
2Eligibility
To apply for or hold a loan with us you must (a) be at least eighteen years of age or the age of majority in your state of residence, whichever is greater; (b) be a U.S. citizen or lawful permanent resident with a verifiable U.S. residential address; (c) have a valid Social Security number; (d) have a verifiable source of income and an active U.S. bank account in your name; (e) not be the subject of a current bankruptcy proceeding; (f) not be on the OFAC SDN list or any other applicable sanctions list; and (g) apply only for yourself, not for a third party.
3Account Registration
You agree to provide accurate, current, and complete information during registration and to keep that information up to date. You are responsible for safeguarding your credentials and for all activity under your account, and you will notify us immediately of any unauthorized use or other security event.
4Loan Application Process
You may apply through our website or mobile application. We use the information you submit, together with information from consumer reporting agencies and identity-verification vendors, to evaluate your application. Submission does not guarantee that a loan will be offered, and we may decline any application in our sole discretion subject to applicable law. If we approve your application we will present you with a loan offer disclosing the principal amount, the annual percentage rate, the finance charge, the total of payments, and the payment schedule. Acceptance creates a separate loan agreement governed by its own terms and by these Terms to the extent not inconsistent.
5Loan Terms and Disclosures
The following standardized terms apply to all consumer loans we offer:
- Loan amount: $25 minimum to $2,500 maximum, depending on creditworthiness, state of residence, and other underwriting factors.
- Term: 3 months minimum to 60 months maximum. We do not offer products requiring repayment in full within 60 days; we do not offer payday products.
- APR: 5.99% to 35.99% inclusive of all costs and fees. Your APR depends on creditworthiness, term, state of residence, and other factors disclosed at the time of offer.
- Fees: we may charge an origination fee, a returned-payment fee, and a late-payment fee where applicable; all such fees are disclosed in the loan agreement and included in the calculation of the APR.
- Prepayment: you may prepay all or part of the principal at any time without penalty.
6Truth in Lending Act (TILA) Disclosures
For each loan offered to you we will provide a TILA disclosure statement before consummation that includes the annual percentage rate, the finance charge, the amount financed, the total of payments, the payment schedule, and a description of any security interest. The TILA disclosure forms part of your loan agreement.
Representative example. A $1,000 loan with a 12-month term and a 14.99% APR has 12 monthly payments of approximately $90, a total of payments of approximately $1,083, a finance charge of approximately $83, and an origination fee of $0 included in the APR. The example is illustrative only.
7Repayment, Late Fees, and Default
Repayment is in equal monthly installments by ACH debit from the bank account you designate, unless an alternate method is set out in your loan agreement. Each installment is due on the date in the payment schedule. If a scheduled payment is not received within fifteen days of its due date we may assess a late-payment fee in the amount disclosed in your loan agreement, subject to any lower limit imposed by your state. If your account becomes more than thirty days past due we may declare your loan in default, accelerate the unpaid balance, refer the account to internal or third-party collection, and report the default to consumer reporting agencies.
8Refusal of Service and Account Termination
We may decline an application, terminate your account, or suspend access to the Services at any time, with or without notice, for any reason consistent with applicable law, including failure to meet eligibility requirements, suspected fraud or misuse, violation of these Terms, or as required by court order or regulator. Termination does not relieve you of obligations under your loan agreement, nor does it terminate provisions that by their nature should survive (Sections 12 through 17).
9User Representations and Warranties
By using the Services you represent that all information you provide is true, accurate, current, and complete; that you are using the Services for your own legitimate, personal, non-commercial purposes; that your use does not violate any applicable law or any contractual or fiduciary obligation; and that you have authority to enter into these Terms.
10Prohibited Conduct
You agree not to: provide false, misleading, or fraudulent information; impersonate any person or misrepresent your affiliation; interfere with or disrupt the Services; attempt to gain unauthorized access to any account, system, or data; reverse engineer or decompile any component of the Services; use any automated tool, bot, or scraper without our express written permission; or use the Services in violation of any applicable law or these Terms.
11Intellectual Property
The Services and all related materials, including software, text, graphics, logos, and trademarks, are the property of DBTI or its licensors and are protected by U.S. and foreign intellectual-property laws. We grant you a limited, non-exclusive, non-transferable, revocable license to access and use the Services solely for the purpose of using our products. We reserve all rights not expressly granted.
12Limitation of Liability
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL DBTI OR ITS OFFICERS, DIRECTORS, MEMBERS, EMPLOYEES, OR AGENTS BE LIABLE TO YOU FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR FOR ANY LOSS OF PROFITS, REVENUE, OR DATA, WHETHER IN CONTRACT, TORT, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF THE SERVICES, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. OUR AGGREGATE LIABILITY UNDER THESE TERMS IS LIMITED TO THE FEES YOU HAVE ACTUALLY PAID TO US IN THE TWELVE MONTHS PRECEDING THE EVENT GIVING RISE TO THE CLAIM. NOTHING IN THESE TERMS LIMITS LIABILITY THAT CANNOT BE LIMITED UNDER APPLICABLE LAW.
13Dispute Resolution and Arbitration
You and DBTI agree that any dispute, claim, or controversy arising out of or relating to these Terms, the Services, or any loan transaction with us (a “Dispute”) shall be resolved by binding individual arbitration administered by the American Arbitration Association under the AAA Consumer Arbitration Rules, except as modified below. The arbitrator’s decision is final and may be entered as a judgment in any court of competent jurisdiction.
Individual basis. Arbitration shall be conducted on an individual basis, not on a class, collective, or representative basis. However, this Section does not waive any right that cannot be waived under applicable law, including any right to participate in a class action where waiver of that right would be unenforceable.
Small-claims preserved. Either party may instead bring an individual action in small-claims court for a Dispute that qualifies for that court’s jurisdiction.
Opt-out. You may opt out of this arbitration agreement by sending a written notice to the address in Section 20 within thirty days of the date you first agreed to these Terms. Your notice must include your full legal name, address, and a clear statement that you are opting out. Opting out will not affect any other portion of these Terms or your relationship with us.
Costs. Administrative fees follow the AAA Consumer Arbitration Rules; the consumer’s share shall not exceed $250 where the AAA rules so provide. Each party bears its own attorneys’ fees and costs unless the arbitrator awards otherwise as permitted by applicable law.
This arbitration agreement is made under the Federal Arbitration Act, 9 U.S.C. § 1 et seq.
14Governing Law and Jurisdiction
Except where preempted by federal law or the Federal Arbitration Act, these Terms and any non-arbitrable Dispute are governed by the laws of the State of Delaware, without regard to its conflict-of-law principles. Subject to Section 13, the federal and state courts located in New Castle County, Delaware, have exclusive jurisdiction over any non-arbitrable Dispute.
15Indemnification
To the maximum extent permitted by applicable law, you agree to indemnify, defend, and hold harmless DBTI and its officers, directors, members, employees, and agents from and against any and all claims, damages, losses, liabilities, costs, and expenses (including reasonable attorneys’ fees) arising out of or in connection with your breach of these Terms, your violation of applicable law, or your misuse of the Services.
16Force Majeure
Neither party is liable for any delay or failure to perform under these Terms to the extent caused by an event beyond its reasonable control, including acts of God, natural disasters, war, terrorism, civil unrest, public-health emergencies, governmental action, internet or telecommunications outages, or labor disputes.
17Severability
If any provision of these Terms is held invalid, illegal, or unenforceable, the remaining provisions remain in full force and effect, and the invalid provision shall be construed or modified to the minimum extent necessary to make it valid and enforceable while preserving the parties’ original intent.
18Entire Agreement
These Terms, together with the Privacy Policy and any loan agreement you sign with us, are the entire agreement between you and DBTI concerning the Services and supersede all prior or contemporaneous communications, proposals, and agreements, whether electronic, oral, or written.
19Changes to These Terms
We may modify these Terms from time to time. The “In effect” date at the top of this page indicates when the current version took effect. We will notify you of material changes by posting the updated Terms on our website and, where practicable, by sending you an email or other notice consistent with applicable law. Your continued use of the Services after the effective date of any modification constitutes acceptance of the modified Terms.
20Contact Information
Questions about these Terms, opt-out notices, and other written communications should be sent to:
Debt Borrow To Invest, LLC
Attn: Legal Department
5060 N Marine Dr
Chicago, IL 60640-3273
USA
Email: ceo@debt-borrow-to-invest.com
Telephone: +1 (646) 907-9518