Thank you for visiting www.capitalworld.ca (the “Site”).
The contents of the Site include, without limitation, all information, data, products, materials, services, software applications and tools, design elements, text, images, photographs, illustrations, audio and video contents, artwork and graphics contained therein or otherwise made available to you in connection therewith (collectively the “Contents”) and, unless the context clearly requires otherwise, or we explicitly say so in writing, the term Site includes all of the Contents.
If you have not reached the age of majority in your province of residence, you must refrain from using this Site. You are solely responsible for ensuring that you are legally accessing this Site, and that the content available therein or thereby is legal in every jurisdiction where you access or view this Site or its content, as well as in any intermediary jurisdiction by which you do so.
THIS SITE IS ONLY INTENDED TO PROVIDE YOU WITH GENERAL INFORMATION AND IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO PURCHASE ANY SECURITY AND MAY NOT BE RELIED UPON FOR INVESTMENT PURPOSES.
You may not reproduce information or materials posted on the Site in any form or download, republish, display, publicly perform, distribute, sell, transfer, modify or use any such information or materials for any public or commercial purpose. Any unauthorized use of any such information or materials may violate copyright laws, trademark laws, laws of privacy and other laws and regulations. The Site and all Contents posted on the Site or which can be downloaded are protected by copyright laws, trademark laws and other laws and can only be used in accordance with these Terms or with prior written consent of the owner of such material.
Use of the Site for any other purpose, including for commercial purposes, is expressly prohibited. All rights reserved.
THE FRAMING, MIRRORING, SCRAPING OR DATA-MINING OF THE SITE OR ANY OF ITS CONTENT IN ANY FORM AND BY ANY METHOD IS STRICTLY PROHIBITED.
capitalworld may, but is not obligated to, monitor, edit, remove or review any Communications, including questions and answers on the Q & A forum section of the borrowers’ loan request page (the “Loan Request Page”), and is under no obligation, unless and then only to the extent prescribed by law, to use, return, review or respond to any Communications. capitalworld SHALL HAVE NO LIABILITY RELATED TO THE CONTENT OF ANY SUCH COMMUNICATIONS, WHETHER OR NOT ARISING UNDER THE LAWS OF COPYRIGHT, DEFAMATION OR LIBEL, PRIVACY, OBSCENITY OR OTHERWISE. Loop reserves the right to remove any or all Communications that contain material deemed inappropriate or unacceptable. Loop, its officers, directors, employees, consultants, representatives, agents, successors and assigns take no responsibility and assume no liability for the Communications.
The sections of the Site granting you access to capitalworld require you to have a username and a password (the “Credentials”). Should you decide to register on the Site, you agree to provide accurate and up-to-date information about yourself and/or the entity you are acting on behalf of during the registration process (the “First Registration”) and to promptly update this information as needed to ensure that it remains accurate and complete at all times.
Loop reserves the right to cancel or suspend your Credentials and to suspend, cancel or terminate your account, your use or your access to this Site, or any of its services, as well as remove and delete any information or content related to this Site or one of the services (and terminate your use thereof), for any reason whatsoever and at any time at its sole discretion, without notice and without liability to you or any other person.
Loop is under no obligation to verify the actual identity or authority of any person using the Credentials to access or use the Site. Loop may, at its sole discretion and at any time, require proof of identity of any person seeking access to and use of the Site and may deny such access, in whole or in part, if Loop is not satisfied with such proof.
You are fully responsible and liable for the confidentiality and security of the Credentials as well as for any activity related to the use of your Credentials, including any and all use or misuse of your Credentials which may result from your disclosure of the Credentials. You assume sole responsibility for any activity related to the use of these Credentials on capitalworld by anyone using your Credentials, including any of your employees, representatives or agents and any other person who may have obtained your Credentials by any means. After accessing the Site using the Credentials, you are responsible for closing the browser, clearing the browser’s cache and/or closing the session so that the Credentials cannot be accessed by a subsequent user. If you suspect that your Credentials are lost, stolen and/or known to be used by another person, you shall immediately notify Loop by telephone at 1 (888) 223-5667 or by e-mail at firstname.lastname@example.org. Loop assumes no responsibility or liability, and cannot be held liable, for any damages arising from or related to your failure to keep your Credentials confidential and secure.
Once registered, users of the Site may elect to open an account on behalf of a borrower (a “Borrower”), or as or on behalf of a Lender (a “Lender”) (the “Second Registration”). For the purposes of these Terms, persons operating sole proprietorships are deemed to be acting for and on behalf of an entity. Users who do not complete the Second Registration may however view content made available to them as general account holders, which shall contain limited information published on the Borrowers’ loan request page (“the Loan Request Page”). To view the full content of a Borrower’s Loan Request Page and purchase notes corresponding to a Borrower’s loan, users must be verified Lenders. To use capitalworld to raise capital on behalf of a Borrower, users must make a loan application on behalf of a prospective Borrower and Loop must approve such application. Additional terms and conditions apply to approved Borrowers and persons acting on their behalf as well as to verified Lenders and persons acting on their behalf.
Although persons from all jurisdictions may complete the First Registration to access capitalworld, this Site is directed only to persons residing or having their principal place of business in one of the provinces and territories of Canada. As such, only persons residing or having their principal place of business in one of the provinces or territories of Canada may be eligible to become a Borrower or a Lender. This Site is not directed to any person in any jurisdiction where (by reason of that person’s residence, principal place of business or otherwise) the publication or availability of the Site is prohibited. Persons in respect of whom such prohibitions apply must not access this Site.
By viewing the content of this Site made available to you both before and after the First and Second Registration, you are agreeing that you, and each person you allow to access capitalworld through your account, will abide by these Terms. These Terms represent an agreement between you, the entity you are acting on behalf of (as the case may be) and Loop, and it governs your access to and use of the services, websites, and applications offered by Loop. Your access to and use of the Service is conditioned on your acceptance of and compliance with this agreement.
Loop makes no representations or warranties regarding the completeness, accuracy or currency of any information of the Site. Loop shall not be liable for any omission, inaccuracy or failure to update such information.
UNDER NO CIRCUMSTANCES SHOULD ANY INFORMATION ON THIS SITE BE CONSTRUED AS A PUBLIC OFFERING OF SECURITIES OF ANY BORROWER IN ANY JURISDICTION OF CANADA OR OUTSIDE CANADA. THE INFORMATION FOUND ON THIS SITE IS PROVIDED SOLELY FOR INFORMATION PURPOSES AND SHOULD NOT BE INTERPRETED AS A RECOMMENDATION OR AS FINANCIAL, LEGAL, TAX, INVESTMENT, PROFESSIONAL OR EXPERT ADVICE. LOOP MAKES NO REPRESENTATION OR WARRANTY AS TO THE SUCCESS OF ANY INVESTMENT OPPORTUNITY PUBLISHED ON THE SITE. THE USE OF THE SITE DOES NOT REPLACE CONSULTATIONS WITH A QUALIFIED PROFESSIONAL.
The information, services and contents featured on this Site are not intended to provide specific technical, financial, fiscal, legal, business or accounting advice, nor any other form of advice applicable to the user’s specific situation, and we recommend that you consult with your own professional advisors to determine how any information, services or contents made available on this Site apply to your specific situation.
All logos, trademarks, service marks and trade names used or displayed on the Site are the registered or unregistered trademarks of Loop. Other logos, trademarks, service marks and trade names used or displayed on the Site may be registered or unregistered by their respective owners. Nothing on the Site grants or may be construed as granting, by implication or otherwise, any license or right to use any logos, trademarks, service marks and trade names displayed on the Site without the written permission of Loop or such other owner.
In addition, the Contents of this Site may not be copied, reproduced, republished, downloaded, posted, transmitted, distributed or modified, in part or as a whole, in any form whatsoever, whether in text, audio, video or executable format, without prior written consent from Loop. Nothing in this Site may be construed as conferring any right to use the Contents protected under the Canadian Copyright Act.
The Site was developed for optimal display on the following browsers: Google Chrome Version 51+ and Safari Version 8+. Loop advises you to use these internet browsers in order to enjoy optimal use of the Site. Loop shall not be held liable for any damages relating to the use of the Site and problems with the display caused by your internet browser. You agree to access the Site using modern hardware that does not contain viruses and with an up-to-date browser.
The Site may contain hyperlinks to other websites that are not owned, operated or controlled by Loop, such as links to Borrowers’ websites. The links are provided solely for convenience. To use the links, you must leave the Site. Loop cannot verify the content, material or any other information on the other sites visited by you. Loop does not endorse, guarantee, or make any representations or warranties regarding any other site or any of the content, material or information that may or may not be on such site. If you decide to access other sites from a link on the Site, you do so at your own risk. Loop assumes no responsibility and shall not be liable for any damages arising from the use of such other sites.
Navigation on the Site is likely to cause the installation of cookies on your computer. A cookie is a small file which does not identify you but which records the information about the navigation of a computer on a Site. The data obtained is used to facilitate subsequent browsing on the Site and also allows tracking of certain statistical data which helps Loop improve its Site. Refusing the installation of a cookie may prevent you from accessing certain services or parts of the Site. You may configure your computer to accept or deny the installation of cookies.
Loop is happy to exchange with Borrowers and Lenders outside the Site but invites you to consult the Site for more up-to-date and accurate information. Loop can communicate information and news concerning capitalworld and its services on social networks. However, if the content on social networks differs from the content on the Site, the latter shall prevail.
The social networks used by Loop may not be available at all times. Loop has no control over such interruptions because the servers of these social networks are managed by a third party. As such, Loop assumes no responsibility or liability if the social networks do not respond or are not available.
You release and hold harmless Loop, its officers, directors, employees, consultants, representatives, agents, successors and assigns from and against any claim, cause of action or demand of any nature whatsoever arising from your use of the Site or Loop’s social networks.
SOME PROVINCES AND TERRITORIES DO NOT ALLOW FOR THE EXCLUSION OF WARRANTIES (INCLUDING THE PROVINCE OF QUEBEC). IN THESE PROVINCES AND TERRITORIES, YOU HAVE ONLY THE WARRANTIES THAT ARE EXPRESSLY REQUIRED TO BE PROVIDED IN ACCORDANCE WITH APPLICABLE LAW.
IN ALL OTHER PROVINCES AND TERRITORIES, EXCEPT AS EXPRESSLY PROVIDED HEREIN, YOUR USE OF THE SITE IS PROVIDED TO YOU “AS IS” AND “AS AVAILABLE”. LOOP EXPRESSLY DISCLAIMS ALL OTHER REPRESENTATIONS, WARRANTIES, AND CONDITIONS, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY REPRESENTATION, WARRANTY OR CONDITION OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, OR NON-INFRINGEMENT, OR ANY WARRANTY ARISING FROM A COURSE OF DEALING, PERFORMANCE, OR TRADE USAGE. YOUR SOLE AND EXCLUSIVE REMEDY, AND LOOP’S SOLE OBLIGATION TO YOU OR ANY THIRD PARTY FOR ANY CLAIM ARISING OUT OF YOUR USE OF THE SITE, IS THAT YOU ARE FREE TO DISCONTINUE YOUR USE OF THE SITE AT ANY TIME.
SOME PROVINCES AND TERRITORIES DO NOT PROVIDE EXCLUSION OF LIMITATION OF LIABILITY FOR ALL TYPES OF DAMAGES (INCLUDING THE PROVINCE OF QUEBEC). IN THOSE PROVINCES, LOOP WILL ONLY BE LIABLE TO YOU FOR DAMAGES THAT WE ARE EXPRESSLY REQUIRED TO BE LIABLE TO YOU UNDER APPLICABLE LAW.
IN ANY OTHER CASE, YOU EXPRESSLY UNDERSTAND AND AGREE THAT LOOP SHALL NOT BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL CONSEQUENTIAL OR EXEMPLARY DAMAGES WHICH MAY BE INCURRED BY YOU IN CONNECTION WITH YOUR USE OF THE SITE, HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY INCLUDING, BUT NOT LIMITED TO, ANY LOSS OF PROFIT, LOST OPPORTUNITIES, LOSS OF DATA SUFFERED, OR OTHER INTANGIBLE LOSS.
LOOP SHALL NOT BE LIABLE FOR DELAYS, INTERRUPTIONS, SERVICE FAILURES OR OTHER PROBLEMS INHERENT IN THE USE OF THE INTERNET, ELECTRONIC COMMUNICATIONS, TELECOMMUNICATIONS NETWORKS OR OTHER SYSTEMS OR NETWORKS.
THE LIMITATIONS ON LOOP’S LIABILITY TO YOU IN THIS SECTION SHALL APPLY WHETHER OR NOT LOOP HAS BEEN ADVISED OF OR SHOULD HAVE BEEN AWARE OF THE POSSIBILITY OF ANY SUCH LOSSES ARISING.
If any provision of these Terms is deemed unlawful, void or unenforceable for any reason, that provision shall be severed and the remaining provisions will remain in force and be fully enforceable.
The provisions of these Terms apply for the benefit of Loop, its officers, directors, employees, consultants, representatives, agents, successors and assigns. You cannot assign these Terms or the rights and obligations granted to you hereunder without the express prior written consent of Loop, which Loop may refuse at its discretion. Loop may assign these Terms and the rights and obligations granted hereunder without your consent.
No consent or waiver by a party of any breach or default by another party under these Terms (i) shall be construed as consent to or waiver of a continuing breach or default or any other breach or default of these obligations or any other obligation of that party, or (ii) shall be enforceable unless it is given in writing and signed by all parties.
These Terms were last updated on May 1, 2017.
The following terms and conditions (“Borrowers’ Terms and Conditions”) explain the process to open an account as a borrower (a “Borrower”) on capitalworld, how to use the borrowing section of capitalworld operated by Loop Funding Inc. and the rights and obligations of Borrowers and persons acting on their behalf.
By confirming that you have read and accept the Borrowers’ Terms and Conditions, you confirm (i) that you have read, understood and agree to follow and be bound by the Agreement, and (ii) that the entity you are acting on behalf of (the “Entity”) agrees to the Agreement and warrants that you are duly authorized to act on its behalf. For purposes of the Agreement, persons operating sole proprietorships are deemed to be acting for and on behalf of an Entity.
All references to “you” in the Agreement refer to both you, the Applicant, and the prospective Borrower itself, as the context may allow, and all references to any Loop Entity shall include such entity and any and all of its officers, directors, employees, agents, consultants, representatives, successors and assigns.
IF YOU DO NOT AGREE WITH THE TERMS AND CONDITIONS OF THE AGREEMENT, YOU SHOULD NOT SUBMIT AN APPLICATION TO BECOME A BORROWER.
Loop Funding Inc. reserves the right to cancel or suspend your Credentials and not to act on your instructions and suspend, cancel or terminate your account, your use or your access to the borrowing section of capitalworld, or any of its services, where it suspects that the person logged into your account is not authorized or it suspects illegal or fraudulent activity or unauthorized use of the borrowing section of capitalworld.
Please note that:
You hereby represent and warrant to Loop Funding Inc. that the information and documents provided in this Application and any and all additional information and/or documents submitted to or received by Loop Funding Inc. during the review of your Application and the borrowing process are true, complete and accurate in all respects, at the time of this Application and at all time while you remain a Borrower or have outstanding loans. YOU REPRESENT AND WARRANT THAT NO SUCH INFORMATION OR DOCUMENT, INCLUDING ANY INFORMATION WITH RESPECT TO THE DESCRIPTION OF THE ENTITY’S BUSINESS AND INDUSTRY, CONTAINS MISLEADING INFORMATION, OMISSIONS OR MISREPRESENTATIONS, LIKELY TO AFFECT A LENDER’S DECISION TO COMMIT FUNDS TO YOUR LOAN REQUEST. In the event of a change in any information or document provided to Loop Funding Inc., you agree to immediately notify Loop Funding Inc. of such change and provide it with the appropriate information or document, as the case may be.
BY SUBMITTING A LOAN APPLICATION, YOU REPRESENT AND WARRANT THAT YOU HAVE DISCLOSED TO LOOP FUNDING INC. ALL CIRCUMSTANCES THAT YOU ARE AWARE OF AND WHICH COULD OR MIGHT RESULT IN A MATERIAL ADVERSE CHANGE IN RESPECT OF THE BUSINESS, ASSETS OR FINANCIAL AFFAIRS OF THE ENTITY YOU ARE ACTING ON BEHALF OF AND ITS PRINCIPALS OR GUARANTORS’, INCLUDING WITHOUT LIMITATION ANY CLAIMS, UNDISCLOSED LIABILITIES, LITIGATION, ARBITRATION, COURT PROCEEDINGS OR INVESTIGATIONS, INCLUDING ANY INVESTIGATION BY ANY GOVERNMENTAL ENTITY, AGENCY OR OTHER SIMILAR ENTITY, WHICH ARE CURRENT, THREATENED, PENDING OR OTHERWISE REASONABLY LIKELY TO OCCUR BY ANY THIRD PARTY. You agree that you will promptly notify Loop Funding Inc. upon you becoming aware of or suspecting that one of the aforementioned events has occurred or may occur and will provide Loop Funding Inc. with any information as it may reasonably require from time to time.
If you are, or at any time become, aware of any current or future claim (or potential claim) by the Canada Revenue Agency (or any other governmental agency, entity or public body) against you, the Entity you are acting on behalf of, or its guarantors you may not accept a loan and must contact Loop Funding Inc. immediately by telephone at +1 (800) 488-9106 or by e-mail at email@example.com.
The Loan Terms will indicate, among other things, the maximum principal amount of the loan that Loop Funding Inc. agrees to post on the lending section of capitalworld, the interest rate, the term, the fees payable to Loop Funding Inc. and the amount of the monthly repayments to be made. You understand that Loop Funding Inc. has no obligation to publish on the lending section of capitalworld any loan request in the amount of any sought loan of an Entity and that the principal amount of a loan that Loop Funding Inc. may pre-approve for publication on the lending section of capitalworld may be for a lesser amount.
You will have 10 business days from the receipt of the Loan Documents to review and sign them. Please read them carefully and seek legal advice, if necessary, to ensure you fully understand the consequences of entering into such agreements. If an individual other than you agrees to provide a personal guarantee, you represent and warrant that there has been no undue influence on such guarantor.
We require that you provide us with a bank statement pertaining to the deposit account from which the loan repayments of the loan extended by Loop Funding Inc. will be withdrawn pursuant to the “PAD Agreement”.
If you agree with the content of the Loan Documents and consider their terms and conditions acceptable, you may sign them using your electronic signature and submit them to Loop Funding Inc. If you do not send the Loan Documents and submit them within this time frame, your loan request will be automatically cancelled.
Once the Entity’s loan request page will be displayed on the lending section of capitalworld, Lenders will be able to review it and commit to purchase notes issued by Loop Funding Inc. in connection with the Entity’s loan request. The Entity’s loan request will be funded solely with the proceeds of the sale of the notes issued by Loop Funding Inc. and a loan will only be extended to the Entity by Loop Funding Inc. if and when the Entity’s loan request will have received commitments to purchase notes in connection therewith in an aggregate amount equal to the amount of its loan request.
The fundraising process will expire at the earlier of (a) the time the Entity’s loan request becomes fully funded or (b) the 30th day from the day the loan request was first posted on the borrowing section of capitalworld. Loop Funding Inc. may, however, extend a loan request at any time at its sole discretion.
IN THE EVENT YOUR LOAN REQUEST IS FULLY FUNDED, YOUR LOAN WILL BE ORIGINATED AND YOU WILL BE BOUND BY THE TERMS OF THE LOAN DOCUMENTS.
You may opt out of the borrowing process at any time before your loan becomes originated or prior to the expiry of the fundraising process by contacting Loop Funding Inc. by telephone at +1 (800) 488-9106 or by e-mail at firstname.lastname@example.org. If you elect to opt out of the borrowing process, the Loan Documents will be canceled.
If you become aware that the information displayed on your loan request page or may contain erroneous or misleading information, please notify Loop Funding Inc. by contacting us by telephone at +1 (800) 488-9106 or by e-mail at email@example.com. A representative of Loop Funding Inc. will make reasonable efforts to correct the loan request page. Please note, however, that once a loan is fully funded, the loan details may, however, no longer be amended.
To ensure prompt collection of monies due and payable at all times, including any repayment, Loop Funding Inc. may and will take the measures it deems necessary and appropriate to recover said amounts. Such measures may include retaining the services of any debt collection agency to assist Loop Funding Inc. in the collection of said amounts.
You understand that missed payments which are not rectified within seven (7) business days of a returned repayment notification by Loop Funding Inc. are subject to a late payment fee (the “Late Payment Fee”), as explained in further detail under the heading “Fees” below.
The Entity may repay its loan in full at any time at no extra cost provided that it repays the outstanding principal amount of the loan, together with all interest due until the end of the month in which the loan is to be repaid and any and all other fees and expenses, if applicable.
If at any time you believe that the Entity may not be able to make one or more scheduled payment, please contact Loop Funding Inc. immediately by telephone at +1 (800) 488-9106 or by e-mail at firstname.lastname@example.org. Loop Funding Inc. may accept to accommodate you and enter into an alternative payment arrangement, within reasonable limits, but there are no assurances it will.
There are four (4) different fees to which you may become subject, as applicable, while borrowing on capitalworld: (i) the Origination Fee; (ii) the Late Payment Fee; (iii) the non-sufficient funds fee (“NSF Fee”); and (iv) the collection and enforcement fees (the “Collection and Enforcement Fees”).
THE LOOP ENTITIES MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, REGARDING ANY LOAN REQUEST. THE SERVICES OFFERED BY THE LOOP ENTITIES ARE NOT INTENDED AS A SUBSTITUTE FOR PROFESSIONAL ADVICE. PLEASE BE AWARE OF THE LAWS OF YOUR PROVINCE OR TERRITORY OR THAT OTHERWISE APPLY TO YOU WITH RESPECT TO ANY LOAN YOU MAY ENTER INTO ON capitalworld. YOU ACKNOWLEDGE THAT YOU ARE ACCESSING capitalworld OF YOUR OWN INITIATIVE, AND ARE RESPONSIBLE FOR COMPLIANCE WITH THE LAWS THAT ARE APPLICABLE IN YOUR JURISDICTION, INCLUDING APPLICABLE SECURITIES LAWS. YOU ACKNOWLEDGE AND HEREBY ACCEPT THE CONSEQUENCES THAT MAY ARISE FROM SENDING A LOAN APPLICATION, POSTING A LOAN REQUEST ON capitalworld, AS WELL AS ENTERING INTO A LOAN AGREEMENT ON capitalworld. You understand that information posted on the lending section of capitalworld, including business models and business plans, as well as any other information, will be available to Lenders who may or may not keep such information confidential.
You agree to indemnify, hold harmless and defend any Loop Entity from and against all expenses, costs, fees, losses, claims, actions, damages, obligations and liabilities of any kind, including, in particular any legal fees and disbursements, (collectively, the “Losses”) that may be incurred in investigating, defending and/or settling any action, suit, proceeding, investigation or claim that may be made or threatened against them or to which they may become subject or otherwise involved in any capacity insofar, including any Losses incurred as a result of your breach of the Agreement. You agree to cooperate with the Loop Entities in the contestation of any such claim, action, demand or investigation.
Furthermore, you hereby renounce to and give to the Loop Entities complete and final release and discharge from, and with respect to, any and all claims, rights and recourses, present or future, of any nature or cause whatsoever related to borrowing on the borrowing section of capitalworld or related to any misrepresentation, as defined under applicable securities laws, inaccurate or misleading information or any material facts unclearly presented on your loan request page. The Loop Entities will not be liable for any information relating to any Entity made available on the lending section of capitalworld. Loop Funding Inc. may from time to time, but is not obliged to, update or modify a Borrower’s information or Risk Band. You are solely responsible for the information displayed on your loan request page.
YOU UNDERSTAND THAT YOU MAY BE SUBJECT TO PENALTIES UNDER APPLICABLE SECURITIES LAWS SHOULD YOU FAIL TO COMPLY WITH ANY APPLICABLE SECURITIES LAWS. YOU AGREE THAT NONE OF THE LOOP ENTITIES WILL BE HELD LIABLE FOR ANY LOSSES WHICH MAY BE CAUSED BY ANY ACTION, DECISION OR ORDER OF ANY SECURITIES REGULATORY AUTHORITY OR REGULATOR AND YOU WAIVE ALL CLAIMS, RIGHTS AND RECOURSES, PRESENT OR FUTURE, YOU MAY HAVE AGAINST ANY OF THE LOOP ENTITIES IN RELATION TO ANY LOSS OR DAMAGE SUFFERED BY YOU AS A RESULT OF THE USE OF capitalworld, INCLUDING, BUT NOT LIMITED, TO ANY LOSS AND DAMAGE RELATED TO ANY ACTION OR DECISION TAKEN AGAINST YOU BY ANY SECURITIES REGULATORY AUTHORITY OR REGULATOR AND ANY LOSS OR DAMAGE CAUSED BY A CEASE TRADE ORDER ISSUED AGAINST ONE OF THE LOOP ENTITIES HAVING TO CEASE ITS ACTIVITIES AND/OR CLOSE capitalworld. YOU AGREE TO USE capitalworld AT YOUR OWN RISK.
FURTHERMORE, YOU ACKNOWLEDGE HAVING CONSULTED YOUR LEGAL ADVISOR AND THAT THEY HAVE ADVISED YOU ON POTENTIAL CONSEQUENCES AND/OR OBLIGATIONS PURSUANT TO BORROWING THROUGH capitalworld.
In the event Loop Funding Inc. closes your account:
These two sections interact in the course of the borrowing and lending process in order to provide for, inter alia, the funding of Borrower Loan requests as well as the repayment of Notes issued in connection therewith to Lenders.
All technology related matters are owned by Loop Financial Inc. which maintains and supports both sides of capitalworld. capitalworld operate the borrowing and lending sides of capitalworld respectively pursuant to the terms and conditions of a licence agreement entered into with Loop Financial Inc.
Loop Funding Inc. and Loop Securities are affiliates, each being a wholly owned subsidiary of Loop Financial Inc.
The information contained on the lending section of capitalworld should not be considered an offer or a solicitation to purchase any specific Note. Investment opportunities are only available to pre-qualified individuals or entities and are offered under exemptions from the prospectus requirements of applicable securities laws, including the offering memorandum prospectus exemption. No offer or solicitation may be made prior to the delivery of a definitive offering memorandum or other applicable prospectus exemption documents.
You warrant that any Material that you upload is free from viruses or anything else which may affect the functionality of capitalworld’s technology.
You are responsible for all costs incurred by you in accessing capitalworld.
The information published on the lending section of capitalworld may refer Lenders and general account holders to third party websites, including your website. Loop Funding Inc. is not responsible for any Material or information displayed on such website or on any other website linked thereto or to capitalworld. You agree that you are solely responsible for the information and Material available on your website, as applicable.
SHOULD ANY INFORMATION PROVIDED IN THESE TERMS AND CONDITIONS VARY FROM THE INFORMATION PROVIDED IN THE LOAN DOCUMENTS THE LOAN DOCUMENTS SHALL PREVAIL.
The invalidity or unenforceability of any of the provisions of the Agreement will not affect the validity of any other provision and such invalid provision will be deemed to be severable. No waiver of any breach of these Borrowers’ Terms and Conditions will be effective or binding unless made in writing and signed by one of the Loop Entities, and such waiver will be limited to the specific breach waived unless otherwise provided.
The Agreement and the Loan Documents will constitute the entire agreement between you and the Loop Entities with respect to all of the matters herein.
Your obligations pursuant to these Borrowers’ Terms and Conditions shall survive the termination of the Agreement and/or the closing of your Borrower’s account.
The Agreement will be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein.
Please keep in mind that all loan-related disputes must be submitted in a timely manner.
Once you file a complaint, our representatives will do their best to assist you and resolve the issue pursuant to Loop Funding Inc.’s complaint and dispute resolution internal policy. Typically, all complaints will be acknowledged and responded to within three (3) to five (5) business days of receipt and reviewed in detail; however please note that certain complex issues may take longer to investigate. Upon completion of the review, Loop Funding Inc. will provide you with a summary of the complaint, the results of the investigation and an explanation of the decision and measures taken to resolve the issue. Loop Funding Inc.’s final response concerning your complaint will include information regarding your options to escalate the complaint in the event you are not satisfied with its decision.
While all complaints and claims receive fair-minded and impartial consideration towards resolution, the filing of a complaint alone does not guarantee the sought remedy.
With respect to loan-related complaints, please note that pursuant to the Agreement:
Please note that none of the Loop Entities will be held liable nor indemnify any Borrower for any loss arising from any system failure, mistakes or other technological issues, as well as for any lost loan opportunity at any time.
The following terms and conditions explain the process to open an account as a lender (a “Lender”) with Loop Securities Inc. (“Loop Securities”), and how to use the lending section of capitalworld operated by Loop Securities to purchase payment dependent notes issued by Loop Funding Inc. (“Loop Funding”).
By confirming that you have read and accept the Lenders’ Terms and Conditions, you confirm that you have read, understood and agree to follow and be bound by the Agreement.
IF YOU DO NOT AGREE TO THE TERMS AND CONDITIONS OF THIS AGREEMENT, YOU SHOULD NOT REGISTER TO BECOME A LENDER.
For the purpose of these Lenders’ Terms and Conditions, all references to “you”, where you are acting on behalf of a Lender that is an entity, shall, as context may allow, be deemed to include such entity, and all references to Loop Securities shall include Loop Securities and any and all of its officers, directors, employees, agents, consultants, representatives, successors and assigns.
You agree to preserve the confidentiality of your Credentials and to assume sole responsibility for any activity related to the use of these Credentials by any person who may have obtained them, regardless of the mean they may have obtained them from. You acknowledge that you are responsible for such persons’ activities on capitalworld, including for any payment dependent notes purchased in connection with a loan extended by Loop Funding to a borrower registered on capitalworld (a “Borrower Loan”) and/or questions or comments on the Q & A forum of any Borrower Loan request submitted while they had access to your capitalworld account.
Loop Securities reserves the right to cancel or suspend your Credentials and not to act on your instructions and suspend, cancel or terminate your account, your use or your access to the lending section of capitalworld, or any of its services, where Loop Securities suspects that the person logged in to your account is not authorized or Loop Securities suspects illegal or fraudulent activity or unauthorized use of the lending section of capitalworld.
You represent and warrant that you have disclosed to Loop Securities all circumstances that you are aware of which could or might result in a material adverse change in your financial condition, including without limitation any claims, undisclosed liabilities, litigation, arbitration, court proceedings or investigations, including any investigation by any governmental entity, agency or other similar entity, which are current, threatened, pending or otherwise reasonably likely to occur by any third party.
If, at any time, you become aware of any current or future claim (or potential claim) by the Canada Revenue Agency (or any other governmental agency, entity or public body) on your assets, you must contact Loop Securities immediately by telephone at +1 (800) 488-9106 or by e-mail at email@example.com.
Please note that Loop Securities uses internal guidelines and policies when reviewing and assessing Registration Applications, but has complete discretion as to whether to allow a person to become a Lender on the lending section of capitalworld.
You will be able to browse through Borrower Loan request pages and view all of the information displayed on such pages, including, but not limited to, financial information regarding the Borrower Loans and the list of Lenders that have committed to purchase Notes in connection to such Borrower Loans.
To commit to purchasing Notes pertaining to a Borrower Loan, you will need to have sufficient available funds in your capitalworld account. The minimum value of any Note available for purchase is $25. In this regard, you will need to first transfer at least $25 to your capitalworld account.
Upon submitting your Registration Application, you will be required to transfer at least $200 to your capitalworld account. If you wish to transfer funds into your capitalworld account after your Registration Application has been approved, you will simply have to follow the steps described in the section titled “Add Funds” in your capitalworld account. For more information, please refer to the section titled “Transfer of Funds” below.
Lenders are not required to hold a minimum amount in their capitalworld account. However, please note that if you do not have funds in your capitalworld account, you will have restricted access to the Borrower Loans request pages, such as general capitalworld account holders who are neither registered borrowers nor Lenders, and will only be able to view limited information pertaining to Borrower Loan requests. Moreover, please note that Loop Securities may terminate your account if it has been inactive for a period of time exceeding 30 days.
Funds held in your capitalworld account are held by Loop Securities in trust in an account with a Canadian Financial Institution, until or unless withdrawn by you or transferred by Loop Securities to a borrower’s deposit account following a successful Borrower Loan request. Please note however that Loop Securities will pay no interest to you on money held in your capitalworld account. As soon as the funds will be received and allocated to your capitalworld account, you will be able to start committing funds to Borrower Loans.
Once you will have decided which Borrower Loan you wish to fund, you will simply have to click on the “invest” button on the Borrower Loan request page and enter the amount you wish to commit. The minimum amount of a commitment is $25Various restrictions on the amount you may invest in a single borrower loan may apply. Please note that Note purchase commitments can only be made in amounts representing multiples of $25.
Before committing to purchase a Note, you must read the offering memorandum (the “Offering Memorandum”) and posting supplement (the “Posting Supplement”) prepared by Loop Funding in connection with the issuance of the Note. The Offering Memorandum and Posting Supplement pertaining to a Note will be accessible from the Borrower Loan request page corresponding to the corresponding series of Notes. Please read the Offering Memorandum and the Posting Supplement carefully and take the appropriate amount of time you need to make sure you understand its content and seek legal advice, if necessary, to ensure you fully understand the consequences of committing to purchase the Note. You may, and Loop Securities encourages you to, save or print a copy of the Offering Memorandum and the Posting Supplement for your files and for further review before submitting your Note purchase commitment.
Loop Funding is authorized to collect the amounts due by the borrowers up to three (3) business days before the date on which such payments are due. Loop Securities undertakes, on behalf of Loop Funding, to use reasonable efforts to credit such amounts collected on Borrower Loans to the capitalworld account of the Lenders that purchased corresponding Notes on or about such date. However, Loop Securities and Loop Funding make no representation or warranty to the effect that any amount will be credited to the Lenders’ account or as to the exact date on which such amounts will be credited. Various factors may influence the date the funds are credited and/or the actual credit of the funds itself. Such factors include, but are not limited to, (i) the borrower defaulting from its obligations under its Borrower Loan (ii) delays in transfers of funds between the financial institutions where the borrowers, Loop Funding and Loop Securities have their respective accounts.
The amount credited to each Lender’s capitalworld account includes the principal of the Note and interest thereon to which the Lender is entitled. The applicable interest rate will be the rate indicated on the Note. You understand that neither Loop Securities nor Loop Funding make any representation or warranty to the effect that the borrowers will repay their Borrower Loans. You understand that you may not receive any interest on your investment and that you may lose all of your investment. Only Lenders who can bear and are comfortable with the entire loss of their investment should lend funds on the lending section of capitalworld.
You understand that borrowers have the right under the Borrower Loans to repay the outstanding principal of their loan to Loop Funding in full at any time without penalty and that, as a result, Loop Funding will, in such event, repay the same amount received from the borrower under the Borrower Loan to Lenders and that consequently, you may not receive all the interest you would have been entitled to, had Loop Funding kept making the monthly repayments indicated on the repayment schedule prepared in connection with the Note (the “Repayment Schedule”) until the term of the Borrower Loan. If Loop Funding repays the outstanding principal associated with a Note in full before the term of the Note, you will only be entitled to the principal of the Note and interest accrued until the date of discharge of its obligations under the Note, in proportion to your contribution to the Borrower Loan.
Amounts received on your capitalworld account can either be (i) transferred to your personal deposit account linked to your capitalworld account or (ii) used to purchase other Notes in connection with other Borrower Loan requests.
You may remove an Authorized Deposit Account or add a new deposit account to your capitalworld account at any time by following the steps indicated on the section of your capitalworld account titled “Add Funds”. Once submitted, Loop Securities will review your request and notify you by email when the deposit account will have been authorized. In this regard, please note that Loop Securities may take up to five (5) business days to review such requests.
The section titled “Note Payments” on the home page of your capitalworld account indicates the amounts scheduled to be credited to your account. The applicable Lender’s fee will have already been deducted from these amounts, such that these amounts will represent the exact amounts that will be credited to your capitalworld account. Please note that the section titled “Transactions” indicates the full amounts to which you are entitled before the deduction of the applicable Lenders’ fee and that accordingly, these amounts will not be credited to your capitalworld account.
The Lender’s fee, in addition to the fees applicable to borrowers, may, once deducted, be shared between Loop Funding, Loop Securities and other affiliated entity thereof in order to, among other, cover the costs of maintaining and operating capitalworld, as well as all other administrative expenses which may be incurred with documenting the Borrower Loans and Notes on capitalworld, keeping records, making credit and fraud checks, registering security interests granted by borrowers to secure their Borrower Loans and ensuring collection of all due and payable monies.
Please note that Loop Funding is entitled to reduce the amount payable under the terms of a Note where Loop Funding undertakes collection efforts in order to collect on the Borrower Loan to which a Note corresponds. Such reduction may go up to 35% of the amount recovered if a collection action must be taken with respect to a Borrower Loan. Loop Funding does not charge a collection fee if no payments are collected, and no collection fee will be charged in excess of the amount recovered.
Once a Borrower Loan closes, Loop Funding registers the security in its name on the appropriate registry. Please note, however, that Loop Funding and Loop Securities make no representation or warranty with respect to the enforceability, rank or quality of said security. Lenders must undertake their own investigations to determine whether the security is sufficient.
Accessing the lending section of capitalworld through the use of a third-party application, other than a browser, is not permitted and it is strictly forbidden to access the lending section of capitalworld for any other purpose than for the purpose contemplated hereunder, namely, but not limited to, data extraction, data scrapping, performance evaluation, marketing analysis or other similar uses.
You understand that no secondary market for Notes currently exists and that Notes you hold may only be purchased back by Loop Funding. Consequently, Notes offered by Loop Funding on the lending section of capitalworld are illiquid and you should be prepared to hold them for the term of the Borrower Loan which ranges from 3 months to 5 years. Your rights and obligations under a Note may not be assigned or transferred to any other party, except as provided under the Offering Memorandum, the Note and the Note Purchase Agreement (“Note Purchase Documents”). Please read the Note Purchase Documents carefully with respect to restrictions on transfer and seek legal advice if necessary, to ensure you fully understand the consequences of these restrictions.
Loop Funding, Loop Securities and any affiliated entity thereof make no representations or warranties of any kind, either express or implied, regarding the success of any Note or investment opportunity on the lending section of capitalworld whatsoever. Lenders retain complete control and discretion over whether or not to purchase a Note pertaining to a specific Borrower Loan on the lending section of capitalworld. Nothing Loop Funding, Loop Securities or any affiliated entity thereof does and nothing on the lending section of capitalworld is intended to operate or be construed as advice by any of Loop Funding, Loop Securities or any affiliated entity thereof to purchase a particular Note.
Committing to purchase a Note on the lending section of capitalworld does not constitute in any way a certainty that you will purchase that Note. You understand that it is only once you have committed to purchase a Note and that the corresponding Borrower Loan has closed, that you will purchase a Note and be entitled to repayments of principal and interest.
In addition, you understand that the borrowers’ credit risk band (the “Risk Band”) indicated on the Borrower Loan request pages is determined by Loop Securities in accordance with internal guidelines using, among others, information obtained by the borrowers in their loan application and the results of credit reports from credit reporting agencies. While Loop Securities considers that borrowers’ Risk Band adds value to the borrowing and lending process, the determination and provision of borrowers’ Risk Bands are not based on recognized principles and are intended to be informative only. You should not make an investment decision in connection with a specific borrower by relying solely on such borrower’s risk band or the ratios or financial information published on such a Borrower Loan request page. You understand that such information may prove to be inaccurate or may not accurately reflect the borrower’s creditworthiness, which may cause you to lose part or all of your investment.
The financial information published on the Borrower Loan request pages may not be audited and contains certain measures that are used as indicators of the borrower’s financial performance. These measures do not have standardized meanings prescribed by the International Financial Reporting Standards (IFRS) and the securities regulatory authorities and regulators. The computation method used by certain borrowers may be different from the method used by others and accordingly, may not be comparable. You understand that these measures are for information purposes only and have important limitations as analytical tools.
In addition, certain information contained on the Borrower Loan request pages may represent forward-looking information (“Forward-Looking Information”), which may be subject to important assumptions, including the ability of the borrowers to meet their revenue targets; the ability to achieve cost synergies; general industry and economic conditions; changes in their relationship with customers and suppliers; pricing pressures and other competitive factors; and changes in regulatory requirements affecting their businesses. While this information may be based on information currently available, it may prove to be incorrect.
Since Forward-Looking Information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. Actual results could differ materially from those anticipated due to a number of factors and risks. These include, but are not limited to; general economic and business conditions; risks inherent in the business of the borrower, including the inability to attract and retain qualified employees; competition; disruptions in business operations; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; and liability and other claims asserted against the borrowers.
Lenders should carefully consider the risk factors related to the borrowers’ industry and additional factors that could affect their operating results and performance. Lenders are urged to carefully consider such factors before deciding to commit funds. Loop Funding, Loop Securities and any affiliated entity thereof undertake no obligation to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws.
You should form your own opinion on the creditworthiness of a borrower and undertake your own research, analysis and assessment of each borrower before committing to purchase a Note and, where necessary, seek independent professional advice.
Although borrowers represent and warrant that the information they provide is true, complete and accurate in all respects, and that such information does not contain misleading information, omissions or misrepresentations likely to affect a Lender’s investment decision, such information could prove to be false, incomplete or inaccurate, or contain misleading information or omissions or misrepresentations. You understand that Loop Funding, Loop Securities and any affiliated entity thereof make no representation or warranty with respect to the accuracy or completeness of the information published on a Borrower Loan request pages or with respect to their Risk Band. Loop Funding, Loop Securities and any affiliated entity thereof disclaim all liability for any such information. Furthermore, Loop Funding, Loop Securities and any affiliated entity thereof disclaim all liability for any material supplied by or contained on any external website linked to from a Borrower Loan request page. You hereby renounce to and give Loop Funding, Loop Securities and any affiliated entity thereof complete and final release and discharge from, and with respect to, any and all claims, rights and recourses, present or future, of any nature or cause whatsoever related to lending on the lending section of capitalworld or related to any misrepresentation, inaccurate or misleading information or any material facts unclearly presented on a Borrower Loan request pages.
The information found on the lending section of capitalworld is provided solely for information purposes and should not be interpreted as a recommendation or as financial, legal, tax, investment, professional or expert advice. The use of the lending section of capitalworld and the services offered by Loop Securities are not intended as a substitute for professional advice and do not replace consultations with a qualified professional. While Loop Securities Inc. is registered as an exempt market dealer with the securities regulatory authorities of all of the provinces and territories of Canada in which it engages in dealing activities, no securities regulatory authority or regulator has approved or expressed an opinion about any of the Notes offered on the lending section of capitalworld.
Please be aware of the laws of your jurisdiction or that otherwise apply to you with respect to any Note you purchase on the lending section of capitalworld. You acknowledge that you are accessing the lending section of capitalworld of your own initiative, and are responsible for compliance with the laws that are applicable in your jurisdiction, including applicable securities laws. You hereby acknowledge and accept the consequences that may arise from purchasing Notes on the lending section of capitalworld.
You agree to indemnify, hold harmless and defend Loop Funding, Loop Securities and any affiliated entity thereof from and against all expenses, costs, fees, losses, claims, actions, damages, obligations and liabilities of any kind, including, in particular any legal fees and disbursements, (collectively, the “Losses”) that may be incurred as a consequence of purchasing a Note on the lending section of capitalworld or using the lending section of capitalworld. You agree to cooperate with Loop Funding, Loop Securities and any affiliated entity thereof in the contestation of any such claim, action, demand or investigation.
You agree that Loop Funding, Loop Securities and any affiliated entity thereof will not be held liable for any losses which may be caused by any action, decision or order of any securities regulatory authority or regulator and you waive all claims, rights and recourses, present or future, you may have against Loop Funding, Loop Securities and any affiliated entity thereof in relation to any loss or damage suffered by you as a result of the use of the lending section of capitalworld, including, but not limited to, any loss and damage related to purchasing a Note on the lending section of capitalworld and/or Loop Funding, Loop Securities and any affiliated entity thereof having to cease their activities and/or close capitalworld. You agree to use the lending section of capitalworld at your own risk.
You understand that by becoming a Lender, you will be granted full access to the information published on the lending section of capitalworld regarding borrowers, including sensitive information pertaining to their business and affairs. You are permitted to download and print content from capitalworld’s website, but only for your own records and personal use. You agree not to copy, reproduce or disclose any content made available to you on the lending section of capitalworld without Loop Funding, Loop Securities and the borrowers’ express written consent and acknowledge being aware of applicable intellectual property laws and agree to comply with such laws.
In addition, you hereby agree not to make any unauthorized use of the Note Purchase Documents, not to copy and use them for any transaction outside of capitalworld and/or use these documents to engage in any other activities which may be similar to the activities engaged Loop Funding, Loop Securities and any affiliated entity thereof.
You will be responsible for any breach of this provision, including any breach of intellectual property laws, and will indemnify and hold Loop Funding, Loop Securities and any affiliated entity thereof harmless of any loss or damages suffered by them as a result of any breach of this provision.
Loop Funding, Loop Securities and any affiliated entity thereof make no representation or warranty to the effect that the content of the lending section of capitalworld does not infringe the rights of any third party.
If you no longer want to be a Lender on capitalworld, you may close your account by sending us an email at firstname.lastname@example.org. However, please note that you may NOT close your account if (a) you have committed to purchase a Note corresponding to a Borrower Loan request which has not yet expired, or (b) you are still receiving repayments in connection with a Note you have previously purchased.
Without prejudice to any of its rights and remedies, Loop Securities may close your account at any time at its sole discretion, including, but not limited to, for reason of any of the following events:
Furthermore, Loop Funding, Loop Securities and any affiliated entity thereof reserve the right to take any action or measure against you to recover any and all damages incurred as a result of your actions. In the event Loop Securities closes your account and you are still entitled to repayments in connection with a Note you have purchased on the lending section of capitalworld, Loop Funding and Loop Securities will make the arrangements they deem reasonable and necessary to keep paying you the funds you are entitled to. However, Loop Securities may retain the funds you are entitled to, in addition to the funds available in your capitalworld account, in the event Loop Securities suspects you are involved in money laundering or other criminal activities and as otherwise provided under applicable laws.
If you have questions or concerns about this Agreement or the lending section of capitalworld, please contact Loop Securities by telephone at +1 (800) 488-9106 or by e-mail at email@example.com.
With respect to Note purchase-related complaints, please note that pursuant to this Agreement:
Please note that Loop Securities will not be held liable nor indemnify any Lender for any loss arising from any system failure, mistakes or other technological issues, as well as for any lost investment opportunity at any time.
While Loop Securities will use all reasonable efforts to ensure the functionality of the lending section of capitalworld and uninterrupted access to the lending section of capitalworld, access may be suspended, restricted or terminated at any time. Loop Securities will not be responsible for any loss or damage suffered by any person, including any borrower or Lender, because of any such suspension, restriction or termination, as well as for any technical problem. You hereby agree that you will use the lending section of capitalworld only for lawful purposes and in a way which does not infringe the rights of any other user of capitalworld. You also agree to remain polite and use good manners, when addressing questions or comments to borrowers.
You are responsible for all costs incurred by you in accessing the lending section of capitalworld.
Should any information provided in these terms and conditions vary from the information provided in the Note Purchase Documents, the Note Purchase Documents shall prevail.
The invalidity or unenforceability of any of the provisions of the Agreement will not affect the validity of any other provision and such invalid provision will be deemed to be severable. No waiver of any breach of these terms and conditions will be effective or binding unless made in writing and signed by Loop Securities, and such waiver will be limited to the specific breach waived unless otherwise provided.
This Agreement and the Note Purchase Documents will constitute the entire agreement between you and Loop Securities with respect to all of the matters herein.
Your obligations pursuant to these terms and conditions shall survive the termination of this Agreement or your Loop Securities account.
This Agreement will be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein.