Loanspark, LLC

Terms of Use

These Terms were last revised on 4/30/2022.

These Terms of Use pertain to the application portal you enter when you choose to proceed with a potential loan matching request application. This Website is brought to you by Loanspark, LLC, pursuant to your relationship with Loanspark’s referral partner Loanspark (the “Referral Partner”). These Terms of Use define the legal agreement by and between, on the one hand, you, as the principal of your business and a potential guarantor of any business financing transaction to that business, on the one hand, and Loanspark, LLC (“Marketplace Provider”) on the other hand. This is a legal agreement between you and the Marketplace Provider. By accessing this portal through the Website, and any sub-sites of this website (together the “Site”), and/or using any of the Services (as defined below) accessible though the Site, you and your business become a user (or “Merchant User”) and agree to, and are bound by, the terms and conditions of this agreement and the Privacy Policy of the Marketplace Provider applicable to this Site (collectively, “Terms”) for as long as you and your business continue to use the Site or Services. IF YOU, ON BEHALF OF YOURSELF AS A PRINCIPAL OF YOUR BUSINESS AND ON BEHALF OF YOUR BUSINESS DO NOT AGREE TO BE BOUND BY THE TERMS, DO NOT USE THE SITE OR THE SERVICES.Your use of, or participation in, certain Services may be subject to additional terms, and such terms will be either listed in the Terms or will be presented to you for your acceptance when you are prompted to provide consent for the Marketplace Provider to collect information from third party sources.
THE SITE AND THE SERVICES ARE INTENDED FOR THE EXCLUSIVE USE OF BUSINESSES AND THEIR PERSONNEL, AND NOT INTENDED FOR CONSUMER AND/OR PERSONAL USE. BY USING THE SITE AND/OR SERVICES, YOU REPRESENT AND WARRANT THAT YOU ARE OVER THE AGE OF 18 OR THE AGE OF MAJORITY IN YOUR JURISDICTION.

Geographic Restrictions

The Marketplace Provider makes no representations that content and materials on the Site or the Services are legal or appropriate for use from outside the United States nor does the Marketplace Provider represent that the Privacy Policy is consistent with requirements outside the United States. IF YOU CHOOSE TO ACCESS THE SITE FROM LOCATIONS OUTSIDE THE UNITED STATES, YOU DO SO AT YOUR OWN RISK and are responsible for compliance with any and all local laws. You may not use the Site or the Services in violation of U.S. export laws and regulations.

These Terms state that any disputes between you and the Marketplace Provider that are not otherwise waived pursuant to the terms of this agreement must be resolved in binding arbitration, that you, to the fullest extent allowed by law, waive the right to participate in any class action, and that the law of the state of Massachusetts and the Federal Arbitration Act apply to all interactions between you and your business and the Marketplace Provider.

The Marketplace Provider endeavors to find matches between Merchant Users and banks, credit unions, or other lending sources (each a “Marketplace Participant”). Through its proprietary matching technology, the Marketplace Provider provides potential options for Merchants to identify the business financing category and specific Marketplace Participant(s) that may offer opportunities that may be compatible for that Merchant to prepare for and acquire a business loan or other business financing. Once the Merchant completes the information requested, the Marketplace Provider uses its proprietary technology to identify potential lending sources and products that may meet the Merchant’s described funding needs.

Changes to these Terms

Please check these Terms periodically for changes because the Marketplace Provider reserves the right, in its sole discretion, to change, modify, add or remove portions of these Terms. Your continued use of the Site and the Services following the posting of changes will mean that you accept and agree to the changes. Please see the beginning of the Terms to determine when the Terms were last revised.

Content

All text, graphics, user interfaces, visual interfaces, photographs, trademarks (whether registered or not), logos, sounds, artwork of any kind, and computer code (collectively, “Content”), including but not limited to the design, structure, coordination, selection, appearance, and arrangement of the Content, contained on the Site is owned by the Partner and/or the Marketplace Provider and/or their respective licensors, and is protected by trade dress, copyright, trademark, and other property laws and unfair competition laws. Any misuse of the Content will be at your peril and the Referral Partner, the Marketplace Provider and/or the licensors will do all that is lawful to enforce and protect their respective Content.

1. Defined Terms

As used in these Terms, the following words shall have the following meanings. The Marketplace Provider refers to Loanspark, LLC., and the Services refers to the Marketplace Provider’s business financing and matching services provided through this Site. A “Merchant” or “Merchant User” is a business that applies for potential funding through the Services. “Marketplace Participants” are lenders and/or other sources of financing that may be a potential match for Merchants seeking funding sources through the Service and which Marketplace Participants have agreed with Marketplace Provider to participate as a potential source of funding for Merchants through this Site.

2. Use of Site and Service

As a visitor to the Site or a Merchant User registered (loan matching applicant) to use any of the Services, you, on behalf of yourself and the business agree to the following:

a. Exclusive Use. Your account is to be used only by you and only for your business needs. You may not authorize others to use your account, and you may not assign or otherwise transfer your account to any other person or business. You acknowledge that the Marketplace Provider is not responsible for third-party access to your account that results from theft or misappropriation of your username and passwords (“Access Credentials”). Further, you are responsible, on behalf of yourself, your business and the persons about whom you disclose to the Marketplace Provider certain information in the Merchant financing and matching process, for all use and/or misuse of your Access Credentials.

b. nformation Submitted. You are solely responsible for, and assume all liability regarding (i) the information and content you provide through your use of the Site and any Services, (ii) the information and content you make available in any manner through the Service, and (iii) your interaction with any and all third-parties, including without limitation Marketplace Participants. Any attempt to enter information to create a duplicate account will be rejected and your account will be put on hold or terminated, in the sole discretion of the Marketplace Provider.

c. Risk Assumption and Precautions. You assume all risk when using the Services, including but not limited to all of the risks associated with any interactions with third-parties, including but not limited to any Marketplace Participants, and the Marketplace Provider’s third-party sources you designate and authorize to share information with the Marketplace Provider to facilitate a potential match for a commercial loan for your business.

d. No Guarantees. The Marketplace Provider may not be able to provide matches for every Merchant User seeking to find potential funding through the Services provided through this Site. Further, the Marketplace Provider makes no guarantees as to the number of matches or the suitability of the potential funding for any Merchant User.

e. No False Information. You agree to provide accurate, true, current and complete information, intending the Marketplace Provider and Marketplace Participants to rely thereon.

f. Legal Purpose. You agree to not use the Site or Services for any illegal purpose. You will only use the Site or Service in accordance with federal, state and local laws, and solely for the purpose of seeking potential business financing for your business.

g. Business Purpose. You agree to only use the Site or Services for a bona fide business purpose. You agree not to use the Site or Services for personal, family or household purposes, and in no event will you use the Services to secure a personal loan. You may not use the Site or Services to obtain information about or make decisions about anyone but yourself for your business, and as the authorized representative acting on behalf of your business.

h. Prohibited Activities

You may not access or use the Site for any purpose other than that for which the Marketplace Provider makes the Site available.

Whether as a visitor or a Merchant User of the Site, you agree not to:

i. Systematically retrieve data or other content from the Site to create or compile, directly or indirectly, a collection, compilation, database, or directory without written permission from the Marketplace Provider.

ii. Trick, defraud, or mislead the Marketplace Provider and third-party service providers and/or Marketplace Participants, especially in any attempt to learn sensitive information.

iii. Circumvent, disable, or otherwise interfere with security-related features of the Site, including features that prevent or restrict or enforce limitations on the use of the Site.

iv. Disparage, tarnish, or otherwise harm, in the Marketplace Provider’s opinion, the Marketplace Provider and/or the Site or Services.

v. Use any information obtained from the Site in order to harass, abuse, or harm another person or business.

vi. Make improper use of the Marketplace Provider support services or submit false reports of abuse or misconduct.

vii. Use the Site in a manner inconsistent with any applicable laws or regulations.

viii. Use the Site to advertise or offer to sell goods and services.

ix. Engage in unauthorized framing of, or linking to, the Site.

x. Upload or transmit (or attempt to upload or to transmit) viruses, Trojan horses, or other material, including excessive use of capital letters and spamming (continuous posting of repetitive text), that interferes with any other user’s uninterrupted use and enjoyment of the Site or modifies, impairs, disrupts, alters, or interferes with the use, features, functions, operation, or maintenance of the Site.

xi. Engage in any automated use of the system, such as using scripts to send comments or messages, or using any data mining, robots, or similar data gathering and extraction tools.

xii. Delete the copyright or other proprietary rights notice from any content on the Site.

xiii. Attempt to impersonate another merchant or person or use the username of another Site visitor or Merchant User.

xiv. Sell or otherwise transfer your Account or Access Credentials.

xv. Upload or transmit (or attempt to upload or to transmit) any material that acts as a passive or active information collection or transmission mechanism, including without limitation, clear graphics interchange formats (“gifs”), 1×1 pixels, web bugs, cookies, or other similar devices (sometimes referred to as “spyware” or “passive collection mechanisms” or “pcms”).

xvi. Interfere with, disrupt, or create an undue burden on the Site or the networks or services connected to the Site.

xvii. Harass, annoy, intimidate, or threaten any of the Marketplace Provider employees or agents engaged in providing any portion of the Site to you.

xviii. Attempt to bypass any measures of the Site designed to prevent or restrict access to the Site, or any portion of the Site.

xix. Copy or adapt the Site’s software, including but not limited to Flash, PHP, HTML, JavaScript, or other code.

xx. Decipher, decompile, disassemble, or reverse engineer any of the software comprising or in any way making up a part of the Site.

xxi. Except as may be the result of standard search engine or Internet browser usage, use, launch, develop, or distribute any automated system, including without limitation, any spider, robot, cheat utility, scraper, or offline reader that accesses the Site, or using or launching any unauthorized script or other software.

xxii. Make any unauthorized use of the Site, including collecting usernames and/or email addresses of visitors and/or merchants by electronic or other means for the purpose of sending unsolicited email, or creating user profiles by automated means or under false pretenses.

xxiii. Use the Site as part of any effort to compete with the Marketplace Provider or otherwise use the Site and/or the content for any revenue-generating endeavor or commercial enterprise.

3. Proprietary Rights

a. Ownership of Proprietary Information. You hereby acknowledge and agree that the Partner, the Marketplace Provider and/or their licensors are the owners of all rights in and to the Site and Services. Federal, state, and local laws and regulations protect these proprietary rights. You are permitted to use the Site and Services only as expressly authorized by these Terms. You may not copy, reproduce, distribute or create derivative works, reverse engineer or reverse compile any of the Site or Services or technology.

b. No Use of Confidential Information. You will not post, copy, modify, transmit, disclose, show in public, create any derivative works from, distribute, make commercial use of, or reproduce in any way any (i) confidential information of any third party or (ii) other copyrighted material, trademarks, or other proprietary information accessible via the Site or Services, without first obtaining the prior written consent of the owner of such proprietary rights.

c. License to Provide Content. By providing suggestions and content regarding the Services and/or the Site to the Marketplace Provider through this Site, as the authorized representative of your business, its principals, and potential guarantors, you thereby grant, and you represent and warrant that you have the right to grant, to the Marketplace Provider, Marketplace Participants, and the Marketplace Provider’s service providers that help in the delivery and operation of this Site and the Services, an irrevocable, perpetual, non-exclusive, fully-paid, worldwide license to use, reproduce, publicly perform, publicly display, commercially exploit and distribute such information and content, and to prepare derivative works of, or incorporate into other works, such information and content, and to grant and authorize sub-licenses of the foregoing. From time to time, the Marketplace Provider may create, test or implement new features or services on the Site in which you may voluntarily choose to participate, in accordance with the additional terms and conditions of such features or programs. By your voluntary participation in such features or programs, you grant the Marketplace Provider the rights stated in this subsection in connection with the additional terms and conditions (if any) of such features or services. For the avoidance of doubt, “content” as used in this paragraph does not include the information provided by you for your business to identify potential Marketplace Participants.

4. User Information

a. Privacy Policy. For information about the collection and possible use of information and material provided by you, on behalf of yourself as a principal of your business, and your business and its other principals, in your application seeking potential commercial loan sources, please visit the Marketplace Provider’s Privacy Policy located on the Site. By using the Site and these Services, you are consenting to the terms of the Marketplace Provider’s Privacy Policy. If you do not agree with the Privacy Policy, which forms a part of your agreement with the Marketplace Provider, then you should immediately stop using the Services and this Site, and direct the Marketplace Provider to delete your account.

b. Disclosure by Law. You acknowledge and agree that the Marketplace Provider may disclose information you provide if required to do so by law, or if the Marketplace Provider, in its sole discretion, believe that disclosure is reasonable or appropriate to (i) comply with the law, requests or orders from law enforcement, or any legal process (whether or not such disclosure is required by applicable law); or (ii) protect or defend the Marketplace Provider’s and/or a third-party’s rights or property.

c. Use of Anonymous, De-Identified Information for Research. By using the Site and/or Services, you agree to allow the Marketplace Provider to anonymously use the information from you and your experiences through the Services to continue the Marketplace Provider’s research into successful business practices and to improve the Services.

d. License Regarding Your Account Information. You retain all ownership interest in and to the information you provide regarding your business, its principals and yourself as a potential guarantor of any commercial loan to your business that you provide to the Site or as part of your use of the Services. However, by submitting your content, including your personal and business information, you hereby grant to the Marketplace Provider a non-exclusive, royalty-free license to process that information to allow the Marketplace Provider to identify potential matches for your business financing needs. You further understand that this information will be processed on the Marketplace Provider’s behalf by third parties that help to operate and maintain this Site and deliver the Services. Further, when you submit your application through the Site, you are prompted to, and thereby agree to, authorize the Marketplace Provider to share that information with the potential Marketplace Provider match(es) selected by you. As part of its delivery of the Services, and operation and maintenance of the Site, the Marketplace Provider may transmit or distribute your information over various public networks and in various forms, subject to the terms of this Agreement, including the Privacy Policy.

5. Services

As explained above, the Marketplace Provider may identify potential matches to various potential Marketplace Participants and loan products for a Merchant User; however, only you can determine whether those potential lenders and loan products are suitable for your business’ needs.

6. Links to Third-Party Websites and Dealings with Sponsors and/or Marketplace Participants

The Site and Services may contain links to websites of third parties, including without limitation, the Partner, and the Marketplace Provider is not responsible for the content of any linked site or any link contained in a linked site, or any changes or updates to such websites. The Marketplace Provider provides these links to you as a convenience, and the inclusion of any link does not imply that the Marketplace Provider endorses or accepts any responsibility for the content on such third-party website. Your correspondence or business or other dealings with third parties found on or through the Site or Services are solely between you and such third-party. Without limiting the foregoing, the Marketplace Provider does not endorse any particular business financing product or potential Marketplace Participants. By identifying for you potential matches, in no way are either the Partner or the Marketplace Provider endorsing the same nor guaranteeing that the business financing product or Marketplace Participant will meet your business needs. In no event will the Marketplace Provider be responsible or liable for any loss or damage of any sort incurred as the result of the presence of or potential matching with such Marketplace Participants on the Site or Services.

7. Disclaimer of Warranty

a. No Warranties. HIS SECTION WILL APPLY TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW. THE MARKETPLACE PROVIDER PROVIDES THE SERVICES ON AN “AS IS” AND “AS AVAILABLE” BASIS AND GRANTS NO WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE WITH RESPECT TO THE SERVICES OR THE SITE (INCLUDING ALL INFORMATION CONTAINED HEREIN), INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. NEITHER THE REFERRAL PARTNER NOR THE MARKETPLACE PROVIDER WARRANT THAT YOUR USE OF THE SERVICES WILL BE SECURE, UNINTERRUPTED, ALWAYS AVAILABLE, ERROR-FREE OR WILL MEET YOUR REQUIREMENTS, OR THAT ANY DEFECTS IN THE SERVICES WILL BE CORRECTED. EACH OF THE PARTNER AND THE MARKETPLACE PROVIDER DISCLAIMS LIABILITY FOR, AND NO WARRANTY IS MADE WITH RESPECT TO, THE CONNECTIVITY AND AVAILABILITY OF THE SERVICES.

b. Third-Party Content. Opinions, advice, statements, offers, or other information or content made available through the Site or Services, but not directly by, or at the direction of, the Marketplace Provider, are those of their respective authors, and should not necessarily be relied upon without you independently verifying and vetting the same. Such authors are solely responsible for such content.NEITHER THE REFERRAL PARTNER NOR THE MARKETPLACE PROVIDER: (i) GUARANTEES THE ACCURACY, COMPLETENESS OR USEFULNESS OF ANY INFORMATION PROVIDED ON THE SERVICES, OR (ii) ADOPTS, ENDORSES OR ACCEPTS RESPONSIBILITY FOR THE ACCURACY OR RELIABILITY OF ANY OPINION, ADVICE, OR STATEMENT MADE BY ANY PARTY OTHER THAN BY THE MARKETPLACE PROVIDER. UNDER NO CIRCUMSTANCES WILL THE PARTNER OR THE MERCHANT PLACE PROVIDER BE RESPONSIBLE FOR ANY LOSS OR DAMAGE RESULTING FROM ANYONE’S RELIANCE ON INFORMATION OR OTHER CONTENT POSTED ON THE SITE OR SERVICES OR TRANSMITTED TO OR BY ANY MERCHANT USERS.

c. Beta Features. From time to time, the Marketplace Provider may offer new “beta” features or tools with which its Merchant Users and/or visitors may experiment on the Site or Services. Such features or tools are offered solely for experimental purposes and without any warranty of any kind, and may be modified or discontinued at the Marketplace Provider’s sole discretion. The provisions of this Disclaimer of Warranty section apply with full force to such features or tools.

8. Limitation of Liability

a. Incidental Damages and Aggregate Liability. TO THE FULLEST EXTENT ALLOWED BY LAW, IN NO EVENT WILL THE PARTNER OR THE MARKETPLACE PROVIDER BE LIABLE FOR ANY INCIDENTAL, SPECIAL, CONSEQUENTIAL OR INDIRECT DAMAGES ARISING OUT OF OR RELATING TO THE USE OR INABILITY TO USE THE SERVICES, INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OR CORRUPTION OF DATA OR PROGRAMS, SERVICE INTERRUPTIONS AND PROCUREMENT OF SUBSTITUTE SERVICES, EVEN IF THE PARTNER OR THE MARKETPLACE PROVIDER KNOWS OR HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. TO THE FULLEST EXTENT ALLOWED BY LAW, UNDER NO CIRCUMSTANCES WILL THE PARTNER’S OR THE MARKETPLACE PROVIDER’S AGGREGATE LIABILITY, IN ANY FORM OF ACTION WHATSOEVER IN CONNECTION WITH THIS TERMS OR THE USE OF THE SERVICES OR SITE, EXCEED THE PRICE PAID BY YOU FOR YOUR ACCOUNT OR SUBSCRIPTION, OR, IF YOU HAVE NOT PAID THE PARTNER OR THE MARKETPLACE PROVIDER FOR THE USE OF ANY SERVICES, THE AMOUNT OF USD $25.00 OR ITS EQUIVALENT.

b. No Liability for non-the Partner and/or Marketplace Provider Actions.TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT WILL THE REFERRAL PARTNER OR THE MARKETPLACE PROVIDER BE LIABLE FOR ANY DAMAGES WHATSOEVER, WHETHER DIRECT, INDIRECT, GENERAL, SPECIAL, COMPENSATORY, CONSEQUENTIAL, AND/OR INCIDENTAL, ARISING OUT OF OR RELATING TO THE CONDUCT OF YOU OR ANYONE ELSE IN CONNECTION WITH THE USE OF THE SERVICES.

c. Information Verification. The Marketplace Provider and its service providers may use various methods of verifying information that Merchant Users have provided. However, none of those ways are perfect, and you agree that neither the Marketplace Provider, Neither the Partner nor any of the Marketplace Provider’s service providers will have any liability to you arising from any incorrectly verified information.

9. Indemnification

You agree to indemnify, defend and hold harmless Referral Partner, the Marketplace Provider, and their respective member, managers, officers, directors, shareholders, employees, agents and third parties, for any losses, costs, liabilities and expenses (including reasonable attorneys’ fees) relating to or arising out of (i) your use of or inability to use the Site or Services, (ii) any information provided by you, (iii) your violation of any of these Terms or your violation of any rights of a third-party, (iv) your violation of any applicable laws, rules or regulations and/or (v) your use of the Service for any purpose other than as a potential source of a business financing for your business. The Marketplace Provider, the Referral Partner or any other indemnified party reserves the right, at its own cost, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you will fully cooperate with the Marketplace Provider, the Partner or the applicable indemnified party in asserting any available defenses.

10. Dispute Resolution by Binding Arbitration; Class Action Waiver.

In the interest of resolving disputes between you and the Marketplace Provider in the most expedient and cost-effective manner, you and the Marketplace Provider agree to resolve disputes that are not otherwise waived pursuant to the terms of this Agreement through binding arbitration instead of in courts of general jurisdiction (“Agreement to Arbitrate”). Arbitration is more informal than a lawsuit in court. Arbitration uses a neutral arbitrator instead of a judge or jury, condenses discovery, and is subject to very limited review by courts. Arbitrators can usually award the same damages and relief that a court can award. Any arbitration under these Terms will take place on an individual basis; class arbitrations and class actions are not permitted. You acknowledge and agree that the arbitrator may award relief (including monetary, injunctive, and declaratory relief) only in favor of the individual party seeking relief and only to the extent necessary to provide relief necessitated by that individual party’s claim(s). Any relief awarded cannot affect other users. By accepting these Terms, you acknowledge that the arbitration and class action waiver provisions are material terms and that the Marketplace Provider is relying on your acceptance of terms in entering into this Agreement and providing the Services hereunder.

YOU UNDERSTAND THAT BY ENTERING INTO THIS AGREEMENT, YOU AND THE MARKETPLACE PROVIDER ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY OR TO PARTICIPATE IN A CLASS ACTION.

a) Claims To Be Resolved by Binding Arbitration. You and the Marketplace Provider agree to arbitrate all disputes and claims between you and the Marketplace Provider that are not otherwise waived pursuant to the terms of this Agreement. This agreement to arbitrate is intended to be broadly interpreted. It includes, but is not limited to: claims arising out of or relating to any aspect of the relationship between you and the Marketplace Provider, whether based in contract, tort, statute, fraud, misrepresentation, or any other legal theory; claims that arose before this or any prior Terms; claims that are currently the subject of purported class action litigation in which you are not a member of a certified class; and claims that may arise after the termination of your Account.

b) Exceptions. Notwithstanding Section 10(a), you and the Marketplace Provider agree that no statement herein shall be deemed to waive, preclude, or otherwise limit either party’s right to file suit in a court of law to address intellectual property infringement claims.

c) Arbitrator. Any arbitration between you and the Marketplace Provider will be by the Commercial Dispute Resolution Procedures (collectively, “AAA Rules”) of the American Arbitration Association (“AAA”), as modified by these Terms, and will be administered by the AAA, and judgment on the award rendered by the arbitrator(s) may be entered in any court having competent jurisdiction. The arbitration will be conducted by a single arbitrator selected pursuant Rule R-12 of the AAA Rules. The AAA Rules and filing forms are available online at www.adr.org, or by calling the AAA at 1-800-778-7879.

d) Notice and Process. A party who intends to seek arbitration must first send to the other, by certified mail, a written Notice of Dispute (“Notice”). The Notice to the Marketplace Provider should be addressed to:

Loanspark LLC

321 Walnut Street, #224

Newton, MA 02460

The Notice must (a) describe the nature and basis of the claim or dispute; and (b) set forth the specific relief sought (“Demand”). If you and the Marketplace Provider do not reach an agreement to resolve the claim within 30 days after the Notice is received, you or the Marketplace Provider may commence an arbitration proceeding.

e) If your claim is for $10,000 or less, the Marketplace Provider may choose whether the arbitration will be conducted solely on the basis of documents submitted to the arbitrator, through a non-appearance based telephonic hearing, or by an in-person hearing as established by the AAA Rules. Any in-person arbitration hearings will take place at a location in Boston, Massachusetts. Regardless of the manner in which the arbitration is conducted, the arbitrator shall issue a reasoned written decision sufficient to explain the essential findings and conclusions on which the decision and award, if any, are based. The arbitrator may make rulings and resolve disputes as to the payment and reimbursement of fees or expenses at any time during the proceeding and upon request from either party made within 14 days of the arbitrator’s ruling on the merits.

f) No Class Actions. Unless both you and the Marketplace Provider agree otherwise, and except as otherwise proscribed by law, the arbitrator may not consolidate more than one person’s claims, and may not otherwise preside over any form of a representative or class proceeding.

YOU AND THE MARKETPLACE PROVIDER AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING.

g) Modifications. If the Marketplace Provider makes any future change to this Agreement to Arbitrate (other than a change to the Notice Address), you may reject any such change by sending the Marketplace Provider written notice within 30 days of the change to the Notice Address provided above. You acknowledge and agree that, in the event you reject any future change, your account with the Marketplace Provider shall be immediately terminated and you will arbitrate any dispute between you and the Marketplace Provider in accordance with the language of this provision.

h) Severability and Enforceability. If an arbitrator or court decides that any part of this Section 10 is invalid or unenforceable, the other parts of this Section 10 shall still apply. If the entirety of this Section 10 is found to be unenforceable, then the parties agree that the exclusive jurisdiction and venue described in Section 15(a) shall govern any action arising out of or related to these Terms, and that the remainder of the Terms will continue to apply.

11. Telephone Communications and Agreement to be Contacted

Call Recording and Monitoring. You acknowledge that telephone calls to or from the Marketplace Provider, together with its agents and affiliates, may be monitored and recorded and you agree to such monitoring and recording.

Providing Telephone Numbers and Other Contact Information. You verify that any contact information provided to the Marketplace Provider, including, but not limited to, your name, mailing address, email address, your residential or business telephone number, and/or your mobile telephone number, is true and accurate. You verify that you are the current subscriber or owner of any telephone number that you provide. You are strictly prohibited from providing a phone number that is not your own. If the Marketplace Provider discovers that any information provided in connection with your registration or application is false or inaccurate, the Marketplace Provider may suspend or terminate your account at any time. Should any of your contact information change, including ownership of your telephone numbers, you agree to immediately notify the Marketplace Provider before the change goes into effect by replying STOP to any text message you receive from the Marketplace Provider, by calling the Marketplace Provider at (877) 817-7275 notifying the Marketplace Provider in writing by sending such notification via email to [email protected]

Your Consent to Receive Automated Calls/Texts. You acknowledge that by voluntarily providing your telephone number(s), you expressly agree to receive artificial voices, prerecorded voice messages, and/or autodialed calls and text messages (such as SMS, MMS, or successor protocols or technologies) from the Marketplace Provider , and third-parties acting on its behalf, related to your account, any application or transaction, and/or your relationship with the Marketplace Provider as a business seeking potential sources for businesses financing through the Service .You should only provide business points of contact to avoid unwanted calls to your home and/or to your personal devices.The numbers you provide through your account will only be used by the Marketplace Provider, Marketplace Participant or service provider helping to deliver the Services and manage the Site. You agree that the Marketplace Provider may obtain, and you expressly agree to be contacted at, any email addresses, mailing addresses, or phone numbers provided by you or your representative at any time or obtained through other lawful means, such as skip tracing, caller ID capture, or other means. You agree to receive automated calls and text messages from the Marketplace Provider, even if you cancel your account or terminate your relationship with the Marketplace Provider, if the Marketplace Provider needs to provide to you any legal notices, except if you opt-out (see below). You understand that you do not have to agree to receive automated calls/texts as a condition of using the Services or account creationIf you do not consent, you may contact the Marketplace Provider at (877) 817-7275 or via email to [email protected] to further inquire about the Services. To opt-out, please see the Opt-Out Instructions below.

Opt-Out Instructions.Your consent to receive automated calls and texts is completely voluntary. You may opt-out at any time. To opt-out of text messages, reply STOP to any text message you receive from the Marketplace Provider. You may also text HELP for help. You acknowledge and agree to accept a final text message confirming your opt-out. The Marketplace Provider may use different shortcodes for different messaging purposes, so texting STOP to one shortcode will not effectuate a stop request for all shortcodes to which you are subscribed. If you would like to stop messages from multiple shortcodes, reply STOP to each shortcode to which you would like to unsubscribe. Alternatively, you may email Marketplace Provider at [email protected] advising that you want to opt out of text messages and specifying the phone number(s) for which that opt-out should apply. To opt-out of automated voice calls (not text messages), you must (i) provide the Marketplace Provider with written notice revoking your consent to receiving automated calls; (ii) in that written notice, you must include your full name, mailing address, account number, and the specific phone number(s) for which you wish to stop automated calls; and (iii) send this written notice to [email protected]. It is your sole responsibility to notify the Marketplace Provider if you no longer want to receive automated calls or text messages. To the fullest extent allowed by law, you waive any rights to bring claims for unauthorized or undesired calls or text messages by failing to opt-out immediately or by failing to follow these instructions. Please allow up to thirty (30) days to process any opt-out request. Please note that if you opt out of automated calls or text messages, the Marketplace Provider reserves the right to make non-automated calls to you. It is possible that third parties may have your contact information and you may continue to receive communications from these third parties despite an opt out request. The Marketplace Provider is not responsible for unwanted contact from third parties. Please contact such third parties directly to inform them of your communication preferences.

Fees and Charges. There is no fee to receive automated telephone calls or text messages from the Marketplace Provider. However, you may incur a charge for these calls or text messages from your telephone carrier, which is your sole responsibility. Message and data rates may apply. Check your telephone plan and contact your carrier for details. You represent and warrant that you are authorized to incur such charges and acknowledge that the Marketplace Provider is not responsible for such charges.

Unauthorized Use of Your Telephone Device. You must notify the Marketplace Provider immediately of any breach of security or unauthorized use of your telephone device. Although the Marketplace Provider will not be liable for losses caused by any unauthorized use of your telephone device, you may be liable for the Marketplace Provider’s losses due to such unauthorized use.

Your Indemnification to the Marketplace Provider. You agree to indemnify the Marketplace Provider for any privacy, tort or other claims, including claims under the Federal Telephone Consumer Protection Act or its state law equivalent, including claims relating to your voluntary provision of a telephone number that is not owned by you and/or your failure to notify the Marketplace Provider of any changes in your contact information, including telephone number. You agree to indemnify, defend and hold the Marketplace Provider, its members, managers, shareholders, officers, directors, employees, agents and representatives harmless from and against any and all such claims, losses, liabilities, costs and expenses (including reasonable attorneys’ fees). The Marketplace Provider shall have the exclusive right to choose counsel, at your expense, to defend any such claims.

Release of Claims. To the fullest extent allowed by law, in consideration of the Services provided by the Marketplace Provider , you hereby release the Marketplace Provider from any and all claims, causes of action, lawsuits, injuries, damages, losses, liabilities or other harms resulting from or relating to telephone calls or text messages, including without limitation any claims, causes of action, or lawsuits based on any alleged violations of the law (including, without limitation, the Telephone Consumer Protection Act, Truth in Caller ID Act, Telemarketing Sales Rule, Fair Debt Collection Practices Act, or any similar state and local acts or statutes, and any federal or state tort or consumer protection laws).

General. You are responsible for obtaining and maintaining all telephone devices and other equipment and software, and all internet service providers, mobile service, and other services needed to receive calls and text messages. Text messaging may only be available with select carriers with compatible handsets. Your obligations under this Section will survive termination of these Terms of Use.

12. Term and Termination

This Agreement will become effective upon your acceptance of the Terms of Use by clicking to confirm your acceptance when you first enter this portal and begin your use of the Services and will remain in effect and govern your use of the Services and the Marketplace Provider’s delivery of those Services, through this Site, and your and the Marketplace Provider’s rights and obligations hereunder and relating hereto. Either you or the Marketplace Provider may terminate your account at any time, for any reason or no reason, without explanation, effective upon written notice to the other party. The Marketplace Provider reserves the right to immediately suspend or terminate your access to any of the Services, without notice, for any reason or no reason. The Marketplace Provider also reserves the right to remove your account information or data from its Services and any other records at any time at its sole discretion. In the event your access to any of the Services is suspended due to the breach of these Terms, you agree that all fees then paid to the Partner or Marketplace Provider, if any, by you will be nonrefundable and all outstanding or pending payments will immediately be due. You may terminate your account by following the steps in the applicable section under “Cancellations” below

13. Cancellations

Except as otherwise stated in this section, you may cancel your registration for the Service at any time by contacting Marketplace Provider at [email protected] and providing the information requested. Please see the Privacy Policy for treatment of your business’ and your information as a principal of your business, upon termination or cancellation of your account.

14. Specific Terms Controlling Other Services and Products

The Marketplace Provider uses third party services and products to facilitate the delivery of the Services and the gather of information about your business and you as its principal to facilitate your application. Additional terms for such other services and/or products will be presented to you prior to your acceptance of such terms and prior to your use of the services and/or products. At present, one such service is Plaid, Inc. (“Plaid”). The Marketplace Provider uses Plaid to gather your data from financial institutions. By using the Service, you grant the Marketplace Provider and Plaid the right, power, and authority to act on your behalf to access and transmit your personal and financial information from the relevant financial institution. You agree to your personal and financial information being transferred, stored, and processed by Plaid in accordance with the Plaid Privacy Policy, which you should review before proceeding further. If you do not agree with Plaid’s Privacy Policy, stop using the Services and cancel your Account.

Plaid’s Privacy Policy can be found at https://plaid.com/legal/#end-user-privacy-policy. If the Marketplace Provider changes this third-party resource, the Marketplace Provider will update these Terms of Use accordingly.

15. General Provisions

a. Controlling Law and Jurisdiction. You agree that Massachusetts law (without giving effect to its conflicts of law principles) will govern these Terms, the Site and the Services and that any dispute arising out of or relating to these Terms, the Site or the Services, if not resolved by binding arbitration, will be subject to the exclusive jurisdiction and venue of the federal and state courts in the Commonwealth of Massachusetts, County of Middlesex, to which exclusive jurisdiction you and the Marketplace Provider agree to submit. Further, you agree to waive any claim of inconvenient forum. You acknowledge and agree that any violation of these Terms may cause the Marketplace Provider irreparable harm, and therefore agree that the Marketplace Provider will be entitled to seek extraordinary relief in court, including but not limited to temporary restraining orders, preliminary injunctions and permanent injunctions without the necessity of posting a bond or other security, in addition to and without prejudice to any other rights or remedies that Marketplace Provider may have for a breach of these Terms. For the avoidance of doubt, Marketplace Provider may seek this recourse through the binding arbitration process, or before courts of the Commonwealth of Massachusetts, County of Middlesex

b. Miscellaneous. These Terms, which you accept upon registration for the Services, and your affirmative acceptance of the Privacy Policy upon entering the Application portal on the Site, and any terms and agreements incorporated herein by reference, comprise the entire agreement between you and the Marketplace Provider regarding the use of this Site and the Services, superseding any prior agreements between you and the Marketplace Provider related to your use of this Site or Services (including, but not limited to, any prior versions of this Terms). The FAQ’s found on the Site are for informational purposes only and are not deemed to be part of this Terms and/or the Agreement. Unless otherwise explicitly stated, the Terms will survive termination of your registration and/or termination of your Account for the Service. The failure of the Marketplace Provider to exercise or enforce any right or provision of these Terms does not constitute a waiver of such right or provision. If any provision of these Terms is held invalid, the remainder of the Terms will continue in full force and effect. Regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to the use of the Site, the Service or the Terms must be filed within one (1) year after such claim or cause of action arose or be forever barred. The section titles in the Terms are for convenience only and have no legal or contractual effect.

c. Securities Statements. THE MARKETPLACE PROVIDER MAKES NO REPRESENTATIONS, WARRANTIES OR OTHER GUARANTEES OF ANY KIND AS TO THE ACCURACY, COMPLETENESS OR TIMELINESS OF ANY BUSINESS FINANCING QUOTES, NOR DOES THE MARKETPLACE PROVIDER MAKE ANY REPRESENTATIONS, WARRANTIES OR OTHER GUARANTEES OF ANY KIND AS TO THE PRESENT OR FUTURE VALUE OR SUITABILITY OF ANY SALE, TRADE OR OTHER TRANSACTION INVOLVING ANY PARTICULAR SECURITY OR ANY OTHER INVESTMENT OF ANY KIND.You understand that the Marketplace Provider is not a broker or dealer in securities, and not an investment, business or financial advisor. You are solely responsible for your investment and borrowing research. Prior to undertaking any securities or borrowing transaction, you should consult a broker, business or other financial advisor with respect to the terms, suitability, value or other aspects of any stock, mutual fund, loan, security or other investment or funding transaction of any kind.

16. Electronic Communications, Transactions, and Signatures

Visiting the Site, sending emails, and completing online forms constitute electronic communications. Subject to Section 11 (and your right to op-out) You consent to receive electronic communications, and you agree that all agreements, notices, disclosures, and other communications the Marketplace Provider provides to you electronically, via email, and on the Site, satisfy any legal requirement that such communication be in writing. YOU HEREBY AGREE TO THE USE OF ELECTRONIC SIGNATURES, CONTRACTS, ORDERS, AND OTHER RECORDS, AND TO ELECTRONIC DELIVERY OF NOTICES, POLICIES, AND RECORDS OF TRANSACTIONS INITIATED OR COMPLETED BY THE MARKETPLACE PROVIDER OR VIA THE SITE. You hereby waive any rights or requirements under any statutes, regulations, rules, ordinances, or other laws in any jurisdiction which require an original signature or delivery or retention of non-electronic records by any means other than electronic means.

17. Contacting the Marketplace Provider

In order to resolve a complaint regarding the Site or the Services or to receive further information regarding the use of the Site or the Services, please contact the Marketplace Provider at:

Loanspark LLC

321 Walnut Street, #224

Newton, MA 02460

(877) 817-7275

[email protected]