Terms of Service

Last updated: October 20, 2024

1. Acceptance of Terms

By creating an account or using any services provided by CrediRise ("we," "us," or "our"), you agree to be bound by these Terms of Service. If you do not agree to these terms, you may not use our platform or apply for a loan.

2. Eligibility Requirements

To use CrediRise, you must:

  • Be at least 18 years of age.
  • Be a citizen or legal permanent resident of the United States.
  • Have a valid Social Security Number and a US-based bank account.
  • Provide accurate and complete information during the registration and application process.

3. Loan Applications and Credit Reports

When you apply for a loan, you authorize us to obtain your credit report from one or more credit reporting agencies. This is done in accordance with the Fair Credit Reporting Act (FCRA). We will use this information to determine your creditworthiness and loan terms.

Submission of an application does not guarantee approval. All loan decisions are at our sole discretion based on our internal risk models.

4. Electronic Communications (E-SIGN Consent)

Because we are a digital platform, you agree to receive all disclosures, notices, and loan documents electronically. Your digital signature on any agreement is just as binding as a physical signature on paper. You must have a valid email address and the ability to view PDF documents.

5. Fees and Payments

You agree to pay all interest, fees, and principal amounts as outlined in your specific Loan Agreement. Payments are typically made via automatic withdrawal (ACH) from your connected bank account. If a payment fails due to insufficient funds, you may be charged a late fee or a returned payment fee.

6. Mandatory Arbitration Notice

PLEASE READ THIS SECTION CAREFULLY. IT AFFECTS YOUR RIGHTS.

You agree that any dispute or claim relating to your use of CrediRise or any loan you receive will be resolved by binding arbitration, rather than in court. This means you are waiving your right to a trial by jury and your right to participate in a class action lawsuit.

7. Limitation of Liability

To the maximum extent permitted by law, CrediRise is not responsible for any indirect, incidental, or consequential damages resulting from your use of the platform. Our total liability to you for any claim will not exceed the total amount of fees you have paid to us in the last 12 months.

8. Governing Law

These terms are governed by the laws of the State where our headquarters is located and the federal laws of the United States, without regard to conflict of law principles.