Updated and effective January 6th, 2023
1. FDF Terms and Conditions
The FDF service and website (each as defined below) are operated by FDF, a Maryland Limited Liability Company or a subsidiary or affiliate thereof (collectively, “FDF”, “we”, or “us”). FDF is in the business of providing customers with small business loans, lines of credit and related services (“Service”). FDF is not a broker, investment advisor or financial planner, and we do not provide financial, securities, legal or tax advice. Before making any decision or implementing any strategy you should consider obtaining additional information and advice from your accountant, attorney, and/or other advisors. “You” is defined as the owner of the company completing the application on behalf of the company seeking credit. Unless otherwise noted, any agreements, authorizations or consents made by you or permissions granted to you hereunder also apply and are binding on your company seeking credit directly from FDF, or from a bank that originates credit through the FDF platform (“FDF Banking Partner”).
2. Accepting the Terms
By using the information, tools, features and functionality located at FDF.com or subdomains (the “Website”) or by submitting an application for credit to FDF, you signify that you have read, understand and agree to be bound by these terms and conditions (the “Agreement”) for any and all applications for credit to FDF or an FDF Banking Partner. You further agree all information being provided by your company as the borrower and/or by you (either as a guarantor or as an authorized representative of your company) as part of the application process for the Loan is true and complete.
You may not use the Service and you may not accept this Agreement if you are under 18 years of age. You represent that you have the capacity to bind the company or entity applying for credit, on behalf of such company or entity. You understand that, other than with regard to loans under the SBA Paycheck Protection Program (“PPP loans”), (a) we will require you to sign a personal guarantee for the credit obtained by your company from FDF, and (b) for term loans, we will take a general lien on your business’s assets. Before you continue, you should print or save a copy of this Agreement for your records.
In addition to this Agreement you and your company may enter into other agreements, including a loan agreement or promissory note that will govern the terms of your company’s loan or line of credit and use of the Service. If there is a conflict between this Agreement and such other agreements that is applicable to specific aspects of the Service, the other agreement shall govern with respect to those specific aspects.
FDF may make changes to this Agreement from time to time. If we do this, the date at the top of this page indicates when the latest revisions were made. Your continued use of the Service or the Website will constitute acceptance of such revisions.
3. Credit and Background Check Authorization
You understand and agree that FDF and our agents and assignees are authorized to contact third parties to conduct background checks and other investigative reports, including but not limited to your business credit card sales data as described below, and make credit report inquiries (including requesting personal credit bureau reports about you and any other owner(s) of the business who will be providing a personal guarantee, and business credit bureaus about your company, in either case, from credit reporting agencies and other sources) or for any other lawful purpose. FDF has such authority for the foregoing in connection with any extension of credit to the company on whose behalf you are applying, conducting loan file updates, ongoing loan reviews, renewal of financing, or referral of your business to third party lenders. Upon your written request, we will advise you if we obtained a credit report. You understand and agree that FDF is making no commitment or guarantee that any product, evaluation, or guidance provided by FDF will result in an approval of credit from FDF or any FDF Banking Partner.
4. Privacy, Personal and Company Information
5. Identity Verification
To help the government fight the funding of terrorism and money laundering activities, federal law requires financial institutions to obtain, verify, and record identifying information that identifies each person and entity applying for credit. Therefore, when your company applies for credit, we ask for your name, address, and other information that allows us to identify you and your company. We may also ask for a driver’s license or other identifying documents. You allow us to obtain such information and share the information with third parties to help us verify you and your company’s identity.
In connection with the provision of the Service, users may submit financial information from their business banking account(s) to FDF. FDF and FDF Banking Partners use this information for lending decisions and may require updates to monitor the performance of customers on an ongoing basis. With the Service, users may direct FDF to retrieve your company information maintained online or otherwise by third-party financial institutions or organizations authorized to house such information.
6. Proprietary Rights
All content on the Website or used by the Service, including but not limited to text, names, designs, pictures, information and software are the proprietary property of FDF with all rights reserved.
You are permitted to use content delivered to you through the Service or Website only on the Service. You may not copy, reproduce, modify, distribute, or create derivative works from this content. Further, you agree not to reverse engineer or reverse compile any of the Service technology.
7. Electronic Communications
You hereby consent to receive by electronic means, (or in writing through postal mail or email), this Agreement, communications, disclosures and notices, including and any and all disclosures and/or notices required to be given by applicable law or regulation. You also consent to allow FDF, or an FDF Banking Partner, to respond to any inquiries by e-mail, at the email address you have provided, regardless of the format of the original inquiry. You must also agree to our ESign consent during the online application process.
8. Telephone Communications
9. Loan Return Policy
You agree that you may not return any loan or other financial product that you take from FDF, or an FDF Banking Partner, except at FDF’s or the FDF Banking Partner’s sole discretion, it being understood that in no event will you be able to return any such product after 5:00 p.m. EST on the second business day following the initiation of disbursement of funds by FDF, and no returns of renewal loans or lines of credit will be permitted.
10. Third Party Sites or Content
The Website or other materials sent to you under the Service may contain links to other Websites (“Third Party Sites”), as well as content from third parties. FDF is not responsible for such Third Party Sites or content from third parties, including without limitation accuracy, reliability, offensiveness, or appropriateness. If you decide to leave the Website and access Third Party Sites or third party content, this Agreement and FDF policies no longer apply.
In addition, if any such link is to another capital provider or lender, FDF acts solely as a referrer and does not guarantee or underwrite the products or services, including credit products, provided by such capital provider or lender. You will be deemed a customer of that capital provider or lender with respect to any products or services provided by such capital provider or lender. FDF has no role in, nor any liability for any decision made or product or service provided by such other capital provider or lender.
Limitation on Liability
TO THE EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL WE OR OUR DIRECTORS, EMPLOYEES OR AGENTS BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES, INCLUDING FOR ANY LOST PROFITS OR LOST DATA, ARISING FROM YOUR USE OF THE WEBSITE OR THE SERVICES, INCLUDING THE UNAVAILABILITY OF THE SERVICES FOR ANY REASON, OR ANY SYSTEM FAILURE OR MALFUNCTION ASSOCIATED WITH THE SERVICES, AND INCLUDING ANY THIRD PARTY CLAIMS, WHETHER BASED ON THEORIES OF BREACH OF CONTRACT, TORT, PRODUCT LIABILITY, OR BREACH OF WARRANTY. THESE LIMITATIONS OF LIABILITY WILL APPLY EVEN IF WE ARE ADVISED ON THE POSSIBILITY OF SUCH DAMAGES OR CLAIMS. THE PARTIES UNDERSTAND THAT THE SERVICES BY US WOULD NOT BE PROVIDED WITHOUT SUCH LIMITATIONS.
WE DISCLAIM ANY WARRANTY OF MERCHANT LIABILITY OR FITNESS FOR A PARTICULAR PURPOSE, ANY LIABILITY FOR ERRORS OR OMISSIONS IN ANY INFORMATION PROVIDED AS PART OF THE SERVICES OR ON THE WEBSITE AND ANY WARRANTIES REGARDING THE OPERABILITY OF THE SERVICES OR LIABILITY FOR ANY SERVICE INTERRUPTIONS OR SYSTEM FAILURES THAT MAY AFFECT THE SERVICES AT ANY TIME.
Governing Law; Venue and Jurisdiction
By accessing the Website or using Services, you agree that the laws of the state of Virginia (or the home state of the FDF Banking Partner), without regard to any principles of conflict of laws that would require or permit the application of laws of any other jurisdiction, will govern this Agreement or your use of the Services.
For Ohio applicants: You understand that the Ohio laws against discrimination require that all creditors make credit equally available to all credit worthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.