Please read these Terms and Conditions (“Terms”, “Terms and
carefully before using www.loanspot.ng or www.loanspot.africa (“website/product”) which is the product of Loanspot Digital Technology
(“Loanspot”/”we”/”us”/”our”) (a company duly registered
The Loanspot website/product is an online market place that connects Borrowers to Lenders
increasing accessibility to available credit products made available by Lenders. Loanspot seeks to
who use the website/product into prequalified Borrowers and provide Lenders with a steady supply of
profiled Borrowers better suited to the products of the Lenders. At the present
time, Loanspot is not a lender or a financial institution but
website/product provides a platform to connect Lenders with Borrowers. Your
access to and
use of the website/product is conditioned on your acceptance of and compliance with these Terms and
These Terms and Conditions apply to all who access and use the website/product.
If you do not wish to be bound by this Agreement, do not access and or use the
The following words shall have the following meaning in these Terms and
“Borrower” shall mean any person who applies to receive a loan
website/product. “Lender” shall mean any entity that uses the website/product to provide
“User” shall mean any person who visits the website/product.
By accessing, using, or attempting to interact with any part of this
you confirm that you have read, understood, accept and agree to be bound by these Terms and Conditions
appear on this website/product at the time you access and use this website. In the event that you fail
with these Terms and Conditions for any reason whatsoever, you agree that your access to and use of the
website/product may be restricted or denied altogether. These Terms and Conditions, as may be modified
from time to time, is a legally binding document between you and Loanspot, which govern your use of the
website/product. IF YOU DO NOT AGREE TO ABIDE BY THE TERMS AND CONDITIONS, PLEASE DO NOT CONTINUE TO
ACCESS OR USE
THE LOANSPOT WEBSITE/PRODUCT.
- Age of Use
To access the website/product, you must be, and hereby represent and warrant that
are at least 18 years of age and of legal competence to enter into a binding agreement with us, and are
otherwise prohibited under these Terms and Conditions or any applicable laws from using the
- Access Credentials
- Certain areas or features of the website/product may be
Users who have obtained a user identification and password by completing a registration process
this website/product. Protect and maintain the confidentiality of any user identification, password
identifying information you may obtain in connection with your use of this website/product.
- You undertake that you shall notify Loanspot immediately if you
your user identification, password or other identifying information has been lost, stolen or
compromised. You also acknowledge and agree that you are solely responsible for all damages or
claims that may
arise from any access to or use of this website/product by any person to whom you have provided your
identification, password or other identifying information, or by any person who has obtained such
from you, including, but not limited to, any access to or use of this website/product that may occur
have notified us that your user identification, password or other identifying information has been
or otherwise compromised.
- Use of Loanspot Website/Product
You are responsible for safeguarding the password and other registration
that you provide and or use to access the website/product. We encourage you to use “strong”
(passwords that use a combination of upper and lower case letters, numbers and symbols). We cannot and
will not be
liable for any loss or damage arising from your failure to comply with the above. You agree that you
have the sole
responsibility and liability for your use of this website/product and for providing, obtaining, and
all hardware, software, telephone, mobile and/or other communications equipment and/or service to
connect to the
internet and access the Loanspot website/product. You also have the responsibility for securing internet
well as all internet access charges, telephone charges and other fees or charges incurred in connecting
internet for accessing Loanspot website/product.
governs our collection and use of personal information that you supply to us or that we collect from or
- User Conduct
You agree to access and use the Loanspot website/product for lawful purposes
are entirely responsible for the knowledge of and adherence to any and all laws, statutes, rules and
relating to (a) your use of Loanspot website/product (including any interactive area), (b) the use of
or other services connected to Loanspot website/product and (c) the means by which you connect your
mobile phone, modem or other equipment to the Loanspot website/product. By accessing the Loanspot
you agree that you shall not:
- Post or transmit any information, software or other material
contains a virus or other harmful component;
- Wilfully provide or give any information (personal or financial)
you know to be untrue, false, wrong, misleading, inaccurate or incomplete which may disrupt the
operation of the website/product or which will prevent, preclude or hinder Loanspot from giving an
true or detailed information to the Lender/third party or in generating an accurate credit
- Restrict or inhibit any other User from using and enjoying any
interactive features of the website/product.
- Use any program, means, spider or “bot” to gather or
“harvest” any information or obtain by any means, any content, or information not
available through the website/product.
- Wilfully post or give the information (personal or financial) of
else as your own with the aim of securing a loan from a Lender or acquiring better credit rating
where you are
fully aware that you have been blacklisted by Lenders, or that your credit rating is poor or below
that would have been considered for a credit facility.
- Post or transmit any unlawful, threatening, abusive, libellous,
defamatory, vulgar, obscene, pornographic, profane or indecent information of any kind, including
limitation any transmissions constituting or encouraging conduct that would constitute a criminal
rise to civil liability or otherwise violate any local, state, national or international law.
- Post or transmit any information, software, image or other
which violates or infringes on the rights of others, including material which is an invasion of
publicity rights or which is protected by copyright, trademark or other proprietary right or
with respect thereto, without first obtaining permission from the owner or rights holder.
- Post, transmit or upload any confidential, proprietary or trade
information without first obtaining permission from the owner or rights holder.
- Alter, damage or delete any content or other communication that
your own content or to otherwise interfere with the ability of others to access the Loanspot
- Disrupt the normal flow of communication in any interactive
forum of the
- Transmit any advertisements, solicitations, schemes, spam,
other unsolicited email or unsolicited communications via the website/product.
- Use or attempt to use this website/product to gain unauthorised
to our servers.
- Advocate illegal activity or demonstrate an intent to commit an
act or violate any law.
- Claim a relationship with or speak for any individual, business,
association, institution, or other organization for which you are not authorised to claim such a
- Impersonate or misrepresent your connection to any other entity
person or otherwise manipulate headers or identifiers to disguise the origin of any content.
- Violate any operating rule, policy or guideline of internet
provider or online service.
- Assist any third party in engaging in any activity that is
these Terms and Conditions.
We reserve the right to monitor use of the website/product to determine
these Terms and Conditions.
- Eligibility Criteria
- You agree and accept that in accessing and using the Loanspot
website/product you will have the following to enable you provide your personal/financial
Loanspot: an active and functional email address, an active phone number, a valid/verifiable address
Nigeria and an active bank account with a valid BVN.
- You also agree and accept that the respective Lender have and
the right to set their own eligibility criteria with which they will assess and select their
Borrowers and that
Loanspot has no control over that criteria. Loanspot does not guarantee that you will be granted a
loan by any
Lender as the Lender reserves the right to select their Borrowers.
- Selection Process
You agree and understand that once you provide and submit your information (which
include personal and financial information) via the Loanspot website/product, the process for selection
of whom to
grant access to a loan/credit facility is not the responsibility of Loanspot and it is the sole
the Lender and at their absolute discretion. Loanspot’s responsibility is to provide a platform
which the Lender can have access to vetted Borrowers.
- Information Provided by the User
You agree and accept that any information (whether personal or financial) which
provide to Loanspot via its website/product will be accurate, true, current, complete and verifiable.
will use the information you provide to assess and generate a portfolio for you. You agree and accept
information you provide to Loanspot may be shared with relevant third parties (including prospective
other platforms or financial services providers) who will use such information to determine whether you
- Restrictions on Use
You may use the Loanspot website/product to provide your details (whether
financial) to enable you secure a loan from Lenders. As a condition for your use of the Loanspot
you warrant to Loanspot that you will not use the website/product for any purpose that is unlawful or
by these Terms and Conditions. You warrant to Loanspot that you will not serve or act as a registration
anyone to register them for a fee to be paid to you as Loanspot has no registration agents.
By using the Loanspot website/product you understand and agree that the Lender with whom
information may be shared has the sole responsibility of determining those who are eligible to receive a
loan/credit facility by using their own selection criteria. You agree not to
Loanspot liable if you fail to meet the selection criteria or pass any of the selection process of the
also agree not to take any legal action whether by litigation, regulatory compliant or any other means
fail to meet the criteria or are not selected by the Lender for a loan/credit facility.
Loanspot will ensure that the information you provide is used accurately to assess the possibility of
a loan/credit facility before it is shared with the Lender or third party.
- Intellectual Property
- The trademarks, service marks, slogans, designs and logos
this website/product are the property of Loanspot or the party that provided the trademark, service
slogans, designs and logos to Loanspot. Loanspot and any party that provided trademarks, service
designs and logos for use on the Loanspot website/product retain all rights with respect to any of
respective trademarks, service marks and logos appearing in this website/product.
- You acknowledge that content on the website/product is generally
provided by Loanspot, Lenders, individual contributors of content, third party licensees and/or
other Users. You
acknowledge that Loanspot website/product permits access to content that is protected by copyrights,
and other proprietary (including intellectual property) rights, and that these intellectual property
valid and protected in all media existing now or later developed and except as is explicitly
your use of content shall be governed by applicable copyright and other intellectual property laws.
acknowledge that Loanspot owns copyright in the appearance of the website/product (the look and
includes the selection, coordination, arrangement and presentation of content or information on the
- You acknowledge and agree that, save as expressly provided
do not acquire any ownership rights or license by downloading, viewing or using any web page content
connected to the website/product. You further acknowledge and agree that you will not in any way
reproduce, publish, create derivative works from, perform, upload, post, distribute, transfer,
adapt, reverse engineer, frame in any web page, or alter the appearance of any web page content on
to the website/product.
- You may not use web page content, domain names (in whole or in
email addresses related to or derived from this website/product, nor any data, trademarks,
service marks, trade names, brand names and/or logos contained within or derived from this
- In or as any meta-tag or hidden text;
- In or as part of any contextual marketing directory, index, or
- As content or advertising related to any other website
not limited to, comparative/informational websites.
- You agree that you will give to us a royalty free, perpetual,
irrevocable worldwide, non-exclusive, royalty free license(with the right to sublicense) to use,
reproduce, process, adapt, modify, publish, transmit, display and distribute all submissions to
containing any comments, improvements, suggestions, and ideas regarding this website/product (now
known or later
developed), including any future rights associated with such submissions, even if the provisions of
are later modified or terminated. This means that you forever disclaim any proprietary rights in
submissions, and you acknowledge our unrestricted right to use, publish, and commercially exploit,
similar, or derivative ideas originating from your submission, in any medium, now and in the future,
notice, compensation or other obligation to you or any other person.
- You agree that you will give to us a royalty free, perpetual,
irrevocable worldwide, non-exclusive, royalty free license (with the right to sublicense) to use,
reproduce, process, adapt, modify, publish, transmit, display and distribute all testimonials
Loanspot including any future rights associated with such submissions, even if the provisions of
these Terms are
later modified or terminated. This means that you irrevocably grant to us the unrestricted right
(now and in the
future, without notice, compensation or other obligation to you or any other person) to use your
image, likeness, as they may be used, in any medium, in connection with an advertisement or for any
publicity purpose. You further agree that Loanspot may use any percentage of your testimonial,
and/or works, in any way that it sees fit, and may exclude your name or use a fictitious
- You may not modify, copy, reproduce, transmit, distribute,
create derivative works from, display or otherwise transfer or commercially exploit any of the
information (in whole or in part) provided that you may however: (i) make a reasonable number of
other form of copies to permit your computer hardware/software or mobile device to access and view
(ii) print one copy of each piece of content or information, (iii) make and distribute a reasonable
copies of content or information in whole or in part, in hard copy or electronic format for personal
Any permitted copies of content must reproduce in an unmodified form any notices contained in the
information, such as all intellectual property right notices and an original source attribution to
Loanspot Digital Technology Ltd” and its URL address. You acknowledge that the Loanspot
its contributors, and/or affiliates remain the owners of the content or information and that you do
any intellectual property rights by downloading or printing content.
- Links to Other Website/Product
- The website/product may contain links to third-party websites or
services that are not owned or controlled by us. Loanspot has no control over, and assumes no
the content, privacy policies, or practices of any third-party website, products or services. Such
not be interpreted as approval by us of those linked websites or information you may obtain from
further acknowledge and agree that Loanspot will not be responsible or liable, directly or
indirectly, for any
damage or loss caused or alleged to have been caused by or in connection with the use of or reliance
on any such
content, goods or services available on or through any such website, products or services. We are
responsible for any transactions or dealings between you and any Lender, advertiser or any other
- You also understand that except for content, products or
expressly available at the Loanspot website/product, neither Loanspot, its affiliates, directors,
employees or agents controls, provides or is responsible for any content, products, goods, services
information available through sites on the internet linked to or from Loanspot website/product. All
content, products, goods, services and information are made available on the internet by independent
parties and are not part of Loanspot website/product or controlled by Loanspot. Loanspot neither
endorses or is
responsible for the accuracy, completeness, usefulness, quality or availability of any content,
or information available on any site linked to or from the Loanspot website/product, which are the
responsibility of such independent third parties, and your use thereof is entirely at your own risk.
Loanspot, its affiliates, directors, officers, employees or agents shall be held responsible or
or indirectly, for any loss or damage caused or alleged to have been caused by your use of or
reliance on any
content, goods, services or information available on any site linked to or from the Loanspot
your inability to access the internet or any site linked to or from the Loanspot
- YOU UNDERSTAND THAT LOANSPOT CANNOT AND DOES NOT GUARANTEE OR
THAT THE WEBSITE/PRODUCT OR OTHER FILES AVAILABLE FOR DOWNLOADING FROM THE INTERNET WILL BE FREE OF
WORMS, TROJAN HORSES OR OTHER CODE THAT MAY MANIFEST CONTAMINATING OR DESTRUCTIVE PROPERTIES. YOU
RESPONSIBLE FOR IMPLEMENTING SUFFICIENT PROCEDURES AND CHECKPOINTS TO SATISFY YOUR PARTICULAR
ACCURACY OF DATA INPUT AND OUTPUT, AND FOR MAINTAINING A MEANS EXTERNAL TO THIS WEBSITE/PRODUCT FOR
RECONSTRUCTION OF ANY LOST DATA. ****LOANSPOT DOES NOT ASSUME ANY RESPONSIBILITY OR RISK FOR YOUR
USE OF THE
- YOUR USE OF THIS WEBSITE/PRODUCT IN PROVIDING YOUR INFORMATION
PERSONAL OR FINANCIAL) IS AT YOUR OWN RISK. THE CONTENT IS PROVIDED “AS IS” AND WITHOUT
OF ANY KIND, EITHER EXPRESSED OR IMPLIED. LOANSPOT DISCLAIMS ALL WARRANTIES, INCLUDING ANY IMPLIED
MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE OR NON-INFRINGEMENT.
- LOANSPOT DOES NOT WARRANT THAT SUBMISSION OF YOUR PERSONAL
ON THE WEBSITE/PRODUCT FOR PURPOSE OF GETTING ACCESS TO A LOAN OR CREDIT FACILITY BY A LENDER OR
WILL BE SUCCESSFUL OR THAT YOU WILL BE SELECTED BY THE LENDER OR THIRD PARTY.
- LOANSPOT DOES NOT WARRANT THAT THE FUNCTIONS OR CONTENT
CONTAINED IN THE
WEBSITE/PRODUCT WILL BE UNINTERRUPTED OR ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT THIS
WEBSITE/PRODUCT OR THE SERVER THAT MAKES IT AVAILABLE IS FREE OF VIRUSES OR OTHER HARMFUL
- LOANSPOT DOES NOT WARRANT OR MAKE ANY REPRESENTATION REGARDING
THE RESULT OF USE, OF THE CONTENT IN TERMS OF ACCURACY, RELIABILITY OR OTHERWISE. THE CONTENT MAY
TECHNICAL INACCURACIES OR TYPOGRAPHICAL ERRORS, AND LOANSPOT MAY MAKE CHANGES OR IMPROVEMENTS AT ANY
- YOU, AND NOT LOANSPOT, ASSUME THE ENTIRE COST OF ALL NECESSARY
SERVICING/REPAIR OF HARDWARE OR CORRECTION OF INACCURATE DATA PROVIDED BY YOU IN THE EVENT OF ANY
LOSS OR DAMAGE
ARISING FROM THE USE OF THIS WEBSITE/PRODUCT OR IT’S CONTENT.
- LOANSPOT MAKES NO WARRANTIES THAT YOUR USE OF THE CONTENT WILL
INFRINGE THE RIGHTS OF OTHERS AND ASSUMES NO LIABILITY OR RESPONSIBILITY FOR ERRORS OR OMISSIONS IN
- ALL OF THE INFORMATION ON THE WEBSITE/PRODUCT, WHETHER
NATURE OR FORWARD- LOOKING, IS PROVIDED AS IS AND SPEAKS ONLY AS OF THE DATE THE INFORMATION IS
POSTED ON THE
WEBSITE/PRODUCT AND LOANSPOT DOES NOT UNDERTAKE ANY OBLIGATIONS TO UPDATE SUCH INFORMATION AFTER IT
IS POSTED OR
TO REMOVE SUCH INFORMATION FROM THE WEBSITE/PRODUCT IF IT IS NOT, OR IS NO LONGER, ACCURATE OR
- You will indemnify and hold Loanspot, its affiliates, licensors,
providers, service providers, directors, officers, employees, contractors and agents (the
harmless from any breach of these Terms and Conditions by you, including any use of content other
expressly authorised in these Terms and Conditions.
- You agree that the Indemnified Parties will have no liability in
connection with any such breach or unauthorised use, and you agree to indemnify any and all
damages, judgments awards, costs, expenses and attorneys’ fees of the Indemnified Parties in
- You will also indemnify and hold the Indemnified Parties
and against any claim, liability, damages, loss, cost and expenses, including attorney’s fees,
third parties arising out of your use or misuse of the website/product or information accessed from
- Change to the Website/Product
We may discontinue the website/product either temporarily or permanently, create
on use of the website/product, or change any information, content, feature or service at any time with
notice and at our sole discretion.
- Limitation on Liability
- Under no circumstance shall Loanspot, its affiliates, agents,
service providers, content providers, directors, officers and employees be liable for any direct or
indirect, punitive, actual, consequential, special, exemplary or other damages including loss of
income, pain and suffering, emotional distress or similar damages arising from this Agreement, the
website/product, whether for breach of contract, tortuous behaviour, negligence, or any other cause
including without limitation, any liability for damages caused or allegedly caused by any failure of
performance, error, omission, interruption, electrical surge/damage/interface, deletion, defect,
operation or transmission, computer virus, communications line failure, breakdown of equipment,
infringement, unauthorised access to or theft, destruction, alteration or use of records.
- Under no circumstances will Loanspot, its affiliates or their
directors, officers, employees, agents, contractors or licensors be liable to you or any other third
any decision made or action taken by you in reliance on the content contained within the Loanspot
website/product or the content contained within any website/product linked to or from the Loanspot
website/product. The content within the Loanspot website/product and the content within the
linked to or from the Loanspot website/product may include technical or other inaccuracies or
errors. Changes are periodically added to the content herein and these changes will be updated in
version of the Loanspot website/product and included in this section of the Agreement. Loanspot and
contributors may make improvements and/or changes in the content at any time and from time to
- Under no circumstances will Loanspot be liable for failure to
access to a loan/credit facility from any Lender or third party featured on its website/product. The
third party reserves the right to set and determine the eligibility criteria required for access to
- You specifically acknowledge and agree that Loanspot is not
any defamatory, offensive, fraudulent or otherwise illegal conduct of any User. If you are
dissatisfied with any
Loanspot website/product content or with these Terms and Conditions in whole or in part, your sole
remedy is to discontinue using the Loanspot website/product.
- Representations and Warranties
- By accessing and using the Loanspot website/product, you
warrant that you have the authority to provide your personal information, that it is true, accurate,
complete, and that you hereby authorise use of all or any part of such information for the purpose
these Terms and Conditions.
- Loanspot and its affiliates are not responsible for lost,
or unavailable network, server, or other connections; miscommunication; failed phone or computer
software, telephone transmissions, or technical failures; garbled or jumbled transmissions or other
any kind, whether human, mechanical, or electronic, including without limitation the incorrect or
capture of your data via the website/product; or for lost, late, incomplete, damaged, destroyed,
stolen, misdirected, or illegible entry.
- You warrant that you have not entered any agreements (including
limited to agreements with employers) that would prohibit you from using the Loanspot
- You are prohibited from using any services or facilities
connection with Loanspot website/product to compromise security or tamper with system resources
The use or distribution of tools designed for compromising security (e.g., password guessing
tools, or network probing tools) is strictly prohibited.
- If you become involved in any violation of system security,
reserves the right to release your details to system administrators at other sites in order to
assist them in
resolving security incidents. Loanspot reserves the right to investigate suspected violations of
these Terms and
- Loanspot also reserves the right to fully cooperate with any law
enforcement authorities or court order requesting or directing it to disclose the identity of anyone
e-mail messages, or publishing or otherwise making available any materials that are believed to
BY ACCEPTING THESE TERMS AND CONDITIONS AGREEMENT YOU WAIVE AND HOLD HARMLESS
FROM ANY CLAIMS RESULTING FROM ANY ACTION TAKEN BY LOANSPOT DURING OR AS A RESULT OF ITS INVESTIGATIONS
FROM ANY ACTIONS TAKEN AS A CONSEQUENCE OF INVESTIGATIONS BY EITHER LOANSPOT OR LAW ENFORCEMENT
- If you are dissatisfied with any policies, guidelines or
Loanspot in operating the website/product, or any change in content, you may discontinue accessing
or using the
- Loanspot may terminate or temporarily suspend your access to all
part of the website/product without notice, for conduct that Loanspot believes to be in violation of
and Conditions or any policies or guidelines posted by Loanspot, or any other conduct which
Loanspot, in its
sole discretion, believes to be harmful to Loanspot or other users.
- Loanspot may at any time with or without notice or reason and in
sole discretion discontinue operating the website/product, in which case, these Terms and Condition
- If for any reason this website/product is not capable of running
planned due to infection by computer virus, bugs, worms, trojan horses, denial of service, attacks,
unauthorised intervention, fraud, technical failures, or any other causes beyond the control of
corrupt or affect the administration, security, fairness, integrity, or proper conduct of this
Loanspot reserves the right, at its sole discretion, to deny access to any individual(s) who tampers
website/product, and/or to cancel, terminate, modify, or suspend any part of the
- Governing Law
These Terms and Conditions will be governed and interpreted pursuant to the laws
Federal Republic of Nigeria, notwithstanding any principles of conflicts of law.
You agree that the courts of Nigeria will have exclusive jurisdiction in any
difference or claim arising whether directly or indirectly from these Terms and Conditions or a breach,
termination or invalidity, pertaining to the subject matter hereof.
- Changes to the Terms and Conditions
Loanspot may also revise these Terms and Conese Terms and Conditions and any
policy at any time and from time to time. You will be bound by the provisions of these Terms as they
this website at the time you access this website. You agree to review this Agreement periodically to be
any such revisions. If any such revision is unacceptable to you, you must discontinue accessing and
Loanspot website/product. Your continued access and use of the website/product after notice of such
been published shall conclusively be deemed as your acceptance of all such revisions.
- Additional Terms
When you download, install and use any of our downloadable software, you may be
required to agree to one or more end-user license agreements which may include additional terms and
You hereby undertake to be bound by such end-user license agreements that may be applicable to such
- If any part of these Terms and Conditions is unlawful, void or
unenforceable, that part will be deemed severable and will not affect the validity and
enforceability of any
- Failure of Loanspot to insist upon or enforce strict compliance
provision of these Terms shall not be construed as a waiver of any right or provision.
- These Terms and Conditions and any supplemental terms, policies,
and guidelines constitute the entire agreement between you and Loanspot and supersede all previous
or oral agreements relating to your access and use of the website/product.
- Notwithstanding the foregoing, any additional terms and
this website/product will govern the items to which they pertain.
- Loanspot and its affiliates reserves the right to request
applicants to forward proof of identity and residency. Valid means of identification includes
License, National Voters Card, International Passport, or any other nationally recognized means of
identification. Such information must be genuine and not impersonate someone else. Applicants would
solely liable if found to have impersonated anyone and shall be prosecuted.
- Contact Us
If you have any questions about these Terms and Conditions Agreement, please feel
free to contact us at [email protected].