Terms of Service

1. Acceptance of Terms

By creating an account or using LendPromise ("the Platform"), you agree to these Terms of Service ("Terms"). If you do not agree, do not use the Platform. These Terms apply to all users — lenders, borrowers, and visitors.

You must be at least 18 years old to use LendPromise. By using the Platform, you confirm that you meet this requirement.

2. What LendPromise Is — and Is Not

3. Your Account

You are responsible for:

• Keeping your login credentials secure
• All activity that occurs under your account
• Providing accurate information when creating your account
• Notifying us immediately if you suspect unauthorized access

We reserve the right to suspend or terminate accounts that violate these Terms, engage in fraudulent activity, or are inactive for extended periods.

4. Loans on the Platform

LendPromise provides tools to help you document and manage loans. By using these tools, you understand and agree that:

• All loan terms are set entirely by you and the other party — LendPromise does not set, approve, or recommend any terms
• Contracts are completely optional — you can track loans without one
• LendPromise is not a party to any loan agreement between users
• We do not guarantee that the other party will repay the loan
• We do not provide legal advice — consult an attorney for complex situations
• Interest rates and loan terms are entirely your responsibility to set legally and appropriately
• We do not report loan activity to credit bureaus, the IRS, or any government agency

5. Payments & Fees

Platform fees

LendPromise charges fees for certain features. Current pricing is shown on our pricing page and may change with 30 days notice. Fees include:

• Optional contract add-on: $10.00/loan (Free), $8.00/loan (Pro)
• Optional notarization: $25.00/loan
• Optional credit snapshot: $4.99–$14.99 depending on tier
• Transfer fee: 1% of loan amount when funded through the platform
• Repayment processing: 0.5% per payment processed through the platform
• Pro subscription: $5.00/month (introductory price)

Payment processing

All payments are processed by Stripe. By using payment features, you agree to Stripe's Terms of Service. LendPromise never stores card numbers or bank credentials.

Refunds

Platform fees (contracts, notarization, credit snapshots) are non-refundable once the service has been delivered. Subscription fees are non-refundable for the current billing period. Contact support if you believe a charge was made in error.

6. Credit Snapshots

The optional Credit Snapshot feature pulls a soft credit inquiry from Experian and/or income data from Plaid. By requesting or approving a credit snapshot, you agree that:

• Borrower consent is required before any credit pull — we will never pull without explicit approval
• Soft pulls do not affect the borrower's credit score
• Reports are for informational purposes only — LendPromise does not make lending decisions
• Reports expire after 90 days and are deleted from our systems
• Only the requesting lender may view the report — it is not shared with third parties
• Credit data is governed by Experian's and Plaid's respective privacy policies

7. Acceptable Use

You agree NOT to use LendPromise to:

• Create fraudulent or fictitious loans
• Harass, threaten, or intimidate other users
• Launder money or engage in any illegal financial activity
• Impersonate another person or entity
• Use the platform for commercial lending or loan brokering
• Attempt to reverse-engineer, scrape, or hack the platform
• Use automated bots or scripts to interact with the platform
• Engage in any activity that violates applicable federal, state, or local law

LendPromise is intended for personal loans between people who know each other. It is not a peer-to-peer lending marketplace. Do not use it to solicit loans from strangers.

8. Loan Disputes

LendPromise is not a mediator, arbitrator, or party to disputes between lenders and borrowers. If the other party fails to repay a loan or breaches your agreement, that is a matter between you and them. LendPromise provides documentation (payment history, contracts, communication logs) that may be useful in resolving disputes, but we do not intervene in or guarantee the outcome of any loan.

For loans with signed contracts, the promissory note serves as legal documentation. Consult an attorney regarding your options in the event of default.

9. Penny AI Assistant

Penny is an AI-powered assistant that helps you navigate LendPromise. Penny's responses are informational only and do not constitute legal, financial, or professional advice. Penny cannot access your sensitive account data, cannot move money, and cannot take actions on your behalf. Always verify important information with a qualified professional.

10. Intellectual Property

All platform content, design, code, and branding is owned by LendPromise, Inc. You may not copy, reproduce, or distribute any part of the platform without written permission. Loan documents and data you create remain yours — we do not claim ownership over your loan records or contracts.

11. Disclaimers & Limitation of Liability

12. Governing Law

These Terms are governed by the laws of the State of Texas, without regard to conflict of law principles. Any disputes arising from these Terms or your use of LendPromise shall be resolved in the courts of Harris County, Texas. You consent to personal jurisdiction in Texas for these purposes.

13. Changes to These Terms

We may update these Terms from time to time. We will notify you by email and display a notice in the app at least 30 days before material changes take effect. Your continued use of LendPromise after the effective date constitutes acceptance of the updated Terms. If you disagree with changes, you may close your account before they take effect.

14. Contact Us