Terms & Conditions
The document represents all the criteria of our terms & conditions of providing services to you. Once you have taken a service from us, this agreement will guide you upon obligations and the terms of our service.
While applying for funding or loan via us, you have consented your agreement to the terms and conditions given below.
At Biz Loan Bankers, we work on behalf of lenders, mostly for business-related funding products. We offer you information and details about the list of products and available lenders, financing options, and other credit contracts. Our work also includes assisting in the application process by bringing the offers available in the market to you. We offer you consultation services, however, we are not obligated to the legal implication or consequences of the financial products.
We have our contracts with the lenders, that enables us to attain credit on your behalf, following the approval of your profile or if you meet the lending criteria for the trade finance. Our agreements are with some selected lenders, which is why we do not include all the lenders with a similar funding product.
We may access agreements with other lenders, who are currently not mentioned in the list of standard lenders. This agreement will be based on their dealings with the brokers and consent to our accreditation.
Our Charges From You
In maximum products, you don’t have to pay a fee for funding. Our payment will be done by the financing company or the lender. We are paid for the work which is usually expected to be done by the mobile lender or a bank manager.
In some of the loan types, which include term loans and commercial loan products, we might charge you in circumstances, where we have not given a standard commission. In this case, we will ask you for a brokerage.
If the fee is about to be paid, then we will inform you about this upfront.
In case we have taken a brokerage fee, then a refund will be done to your bank on the failure of approval for your loan. The refund will be done only on conditions where we are unable to fulfill the service. Under loan products, where we have not asked for a fee, there will be no refund or claims.
How will my complaint be handled?
If you have any queries, then one of our executives will register your complaint and will investigate the subject with the staff. Later after investigation, our executive will convey the clarification and solution for your complaint.
After collecting evidence and information, a decision will be made regarding the action and whatever corrections have to be done will be taken care of. We take your complaint seriously and examine it to make necessary changes in the mechanism and system. We update the outcome of the complaint in the register to end the case.
Our Source Of Income
We will receive an upfront commission for our services from the lenders. The commission is a percentage of the borrowed amount which variates from time to time. In some cases, we offer referrals to a person who makes you aware of our services. Although, these cases may depend upon circumstances.
Some of our assurance includes:
1. At Biz Loan, we have no decisive authority to affect the conditions of credit contracts. These conditions of credit contracts include a term of the loan, interest rates, fees, etc.
2. Our recommendations are in no case influenced by the beneficiary point of view or due to any sort of relationship with the lender. None of the financial benefits received by us or anyone else impacts our recommendations to you.
3. We also want to inform you that, once we have recommended a product, the commission payment may differ as per the brokerage agreement before you give consent for the contract.
What Are The Terms you Agree With Us
By accepting these terms and conditions, you agree to
1. Get our services for attaining loans with consent for all the conditions listed above.
2. You have offered absolutely correct information, which will be used by us to search loan on your behalf.
3. Accept that we offer general information, which is not subjected to a specified situation. Our recommendations and consultations are limited to general decisions and not any sort of legal or financial advice. We also advise you to take legal consultation from a qualified firm following the aptness of the loan product. By entering into this agreement, you have agreed that we are not responsible for the implication of your decisions regarding the loan product.
4. You agree that you will compensate, release us, and hold us protected from any type of losses, suffered by you. It includes claims, actions, and proceedings that may occur due to relation to this agreement and the services offered by us.
5. These terms and conditions are subjected to changes. You can understand the actual and applicable terms and conditions from the contract provided by the lender.
6. You have the capacity to meet the repayment within the given period without facing any extreme hardships.