Last Updated July 1, 2019
STREETSHARES MEMBERSHIP AGREEMENT
Please read this Membership Agreement (“Agreement”) carefully. By signing up for membership with StreetShares, you confirm that you have read, understood, and agree to the terms of this Agreement in its entirety.
This Agreement governs your membership with StreetShares, Inc. and any subsidiaries, including StreetShares Lending Company (collectively, “StreetShares,” “we,” “us,” or “our”). We look forward to having you (“Member”, “you”) as a part of our community. StreetShares, Inc. operates StreetShares.com (including all subdomains, the “Site”), a members-only online social finance community. As a community, StreetShares is committed to its mission to help fund as many veteran-owned small businesses as possible. This community seeks to provide you, as a Member, with news, information, updates, offers and content we think would be important to you as we work toward fulfilling our mission. By becoming a member we also provide Members the opportunity to explore and apply for the different product and service offerings we make available.
Honesty and trust are cornerstones of our business and being transparent about what we do is in our DNA, which is why we wrote this agreement (our lawyers told us to do it, but honestly, we were going to write this anyway).
By signing up to be a Member on our Site, you wish to become a part of the StreetShares community and part of that means agreeing to the terms of this Agreement. We want you to know that by joining this community, you are not creating a financial services account or obtaining any kind of financial services or products with StreetShares. While we offer products such as Veterans Business Bonds (VBB) and Business Borrower Loans and Lines of Credit, this membership is separate and distinct from the products that we provide. While we think our products are amazing and we hope that you’ll learn more about them (and even apply for them), we want to make it clear that this membership creates no obligation to establish an account with us. Remember what we said about trust? This agreement is about you becoming a Member of our community and sharing in the news, stories, information, etc. that we may send to you from time to time about our goal to help fund as many veteran-owned small businesses as possible, and, of course, other items and/or offers that we think you might find interesting. We wanted to get that out of the way up front so that we’re clear on what you’re agreeing to.
The other thing this Agreement does is put our terms and conditions up front for you. We don’t like hidden things (like interest rates that are misleading, wonky APR calculations, or any other deceptive terms). So we decided to put our terms up front for you. There are no surprises, no gotchas – just transparency with regard to what you need to know about things like privacy, data security, and even the kinds of things we agree to do with the data we collect if you become a Business Borrower or an Investor. Refreshing? We hope so. You get the terms up front so that you can see the full picture (just like the way we’ve revolutionized small business lending).
RIGHT TO MAKE CHANGES
As a Member of StreetShares, you should be aware that this Agreement and its terms may be changed from time to time by us. If we do make any changes, the most updated Agreement will be posted on our Site and will indicate the last date that the Agreement was revised. We encourage you to check the Site from time to time. By signing up to become a Member of StreetShares, you are agreeing to this policy and that we may make these changes. By continuing to access your membership account on the Site after we have provided notice of a modification, you are indicating that you agree to be bound by the modified terms.
Becoming a StreetShares Member does not create any obligation on your behalf to obtain or secure a financial services product offered by StreetShares. In return for signing up with us as a Member, we’re committed to providing you with information and content, including news about our foundation, borrower members, our Veteran Business Bonds, and links to third parties that we partner with that we think might be of interest. Basically, we’re creating a community of like-minded individuals and we want you to be the first to know about things that we think are of important to this community.
STREETSHARES SECURITY POLICY
StreetShares safeguards your personal and sensitive information through physical, technical, and administrative policies and practices. Your personal data is considered confidential. Data can only be read or written through password protected service access points. Technical security of the data is achieved through a combination of network access security rules, data encryption for communications and storage, and servers with hardened operating systems, all housed in highly secured and redundant facilities. Administrative access to our systems, both physical and electronic, is carefully controlled with multiple layers of authentication. Finally, we equip our servers with Transport Layer Security (TLS) certificate technology. TLS ensures that all data entered into the Site is encrypted. To verify that TLS is being used, look for the key or padlock icon on your browser.
For security purposes, StreetShares requires complicated passwords. We have also instituted secure steps by which you can regain access to your account should you forget your password, including the use of a security question. Passwords are not known to any employee or StreetShares affiliate, and we will never ask for your password as a means of identification. You should never share your password with anyone, and if you ever receive an email purporting to come from StreetShares that asks for your password, you should not provide information in response to this email. Instead, you should immediately report this email to StreetShares customer support at firstname.lastname@example.org.
ID THEFT POLICY AND YOUR RESPONSIBILITIES
StreetShares utilizes state-of-the-art authentication technology to verify identities. StreetShares will work with law enforcement authorities to track down and prosecute anyone who has committed identity theft.
To protect your account, we send automatic notifications confirming certain actions taken on your account, such as changes to a password or external linked account. We do this for your own protection so that you can be sure no one else is making changes to your account without your knowledge. However, the security offered through these notifications can be undermined if other people have access to your email account. Therefore, you should consider restricting access to the email account registered with the Site and/or changing your password on that email account frequently.
WARNING AGAINST USE OF PUBLIC COMPUTER
If you use a computer that is accessed by other people, such as in a public library or Internet cafe, we recommend that you take special precautions to protect the security of your account and personal data. When you are finished using our Site, you should log out completely, then close the browser window and clear the browser’s cache files.
BEWARE OF PHISHING
You should also be aware of fraudulent attempts to gain access to your account information known as “phishing.” Phishing is a tactic used by scammers in which unsuspecting people are brought to a website by a genuine-looking email purporting to be from a legitimate company. The phony or “spoof” email takes the person to a website that looks legitimate but in fact is not. Either in the email itself or on this fake site, scammers will ask for login information to gain access to people’s accounts and withdraw their money. StreetShares will never ask for your login information in the context of any email. In general, you can protect yourself against phishing by never providing personal or login information via an email. You should also check the URL of a website to be sure that it begins with the correct domain. If you are ever unsure of an email you receive from StreetShares, please contact our support team by sending a separate email to email@example.com.
ELIGIBILITY AND AGE REQUIREMENTS
While Members of StreetShares can enjoy an inclusive community, we do want to mention that the Site is intended for use by adults only. That means that no one under the age of 18 is allowed to become a Member. If you are signing up with us you are affirming and certifying that you are indeed over the age of 18. Further, by using the Site, you are representing to us that you are 18 or older and that you agree to and to abide by all of the terms and conditions of this Agreement. Any registration, use of, or access to this Site by anyone under the age of 18 is not authorized and in violation of this Agreement. We do not collect any personally identifiable information from any person that we know to be under the age of 18. If you, as a Member of StreetShares, become aware of any person under the age of 18 using our Site, please let us know at firstname.lastname@example.org. In compliance with the Children’s Online Privacy Protection Act (COPPA) we do not collect personal information from any individual under age 13 without parental consent. We do not solicit or want personal information from any minor children under age 18.
If you violate any of the terms of this Agreement, or otherwise violate an agreement between you and us, StreetShares may terminate your membership, delete your profile and any content or information that you have posted on the Site, and/or prohibit you from using or accessing the Site (or any portion, aspect, or feature of our services or the Site), at any time in its sole discretion, with or without notice, including without limitation if it believes that you are under 18.
Last Updated July 1, 2019
Facts: What does StreetShares do with your personal information?
|Why?||Financial companies choose how they share your personal information. You have the right to limit some but not all sharing. |
We tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
|What?||The types of personal information we collect and share depend on the product or service you have with us. This information can include:|
• contact information and date of birth;
• Social Security number and tax identification number;
• income revenue, and employment information
• account balances and transaction history;
• credit information, credit history, and payment history; and
• assets and investment experience.
|How?||All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons we choose to share; and whether you can limit this sharing.|
Reasons StreetShares shares your personal information
|Reasons we can share your personal information||Does StreetShares |
|Can you limit |
| For our everyday business purposes|
– such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus
|For our marketing purposes – to offer our products and services to you||Yes||No|
|For joint marketing with other financial companies||Yes||No|
|For our affiliates’ everyday business purposes – information about your transactions and experiences||Yes||No|
|For our affiliates’ everyday business purposes – information about your creditworthiness||Yes||Yes|
|For our affiliates to market to you||Yes||Yes|
|For nonaffiliates to market to you||Yes||Yes|
How to limit StreetShares’ sharing of your personal information and direct marketing
|To limit our sharing|| • Call toll free 1-833-838-6963. Our business hours are 9:00 a.m. to 6:00 p.m. prevailing Eastern time, Monday through Friday (except holidays). |
If you are a new customer or member of StreetShares, we may begin sharing your information immediately after you receive this notice. When you are no longer our customer or member, we may continue to share your information as described in this notice. However, you can limit our sharing as provided in this notice at any time.
|To limit our direct marketing||• Call toll free 1-800-560-1435. Our business hours are 9:00 a.m. to 6:00 p.m. prevailing Eastern time, Monday through Friday (except holidays).|
• Email us at email@example.com.
Direct marketing is email, postal mail, and telephone marketing. Even if you limit direct marketing, we may still contact you to service your account or as otherwise allowed by law.
|Questions?||• Call toll free 1-800-560-1435. Our buesinss hours are 9:00 a.m. to 6:00 p.m. prevailing Eastern time, Monday through Friday (except holidays).|
Who we are
|Who is providing this notice?||StreetShares, Inc. and any subsidiaries, including StreetShares Lending Company (collectively, “StreetShares,” “we,” “us,” or “our”).|
What we do
|How does StreetShares protect my personal information?||To protect your personal information from unauthorized access and use, we use security measures. These measures include computer safeguards and secured files and buildings. We authorize our employees to get your information only when they need it to do their work, and we require companies that work for us to protect your information.|
|How does StreetShares collect my personal information?||We collect your personal information, for example, when you: |
• sign up as a member of StreetShares;
• apply for a loan, line of credit, or contract financing product; or
• purchase Veteran Business Bonds.
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.
|Why can’t I limit all sharing?||Federal law does not give you the right to limit all sharing. Federal laws that give customers and consumers rights to limit sharing may not apply to information (including personal information) you share with StreetShares for business purposes. Even when federal law does not apply to information you share with us, StreetShares agrees that you can still limit the sharing of your personal information as described in this notice. State laws may give you additional rights to limit sharing. See below for state specific information.|
|What happens when I limit sharing for an account I hold jointly with someone else?||Your choices will apply to everyone on your account.|
|Affiliates||Companies related to us by common ownership or control. They can be financial and non-financial companies. Most of our affiliates (but not all of them) have “StreetShares” in their name.|
|Non-affiliates||Companies not related by common ownership or control. They can be financial and non-financial companies. Non-affiliates we share information with include (but are not limited to) banks and credit unions.|
|Joint marketing||A formal agreement between non-affiliated financial companies that together market financial products or services to you. Our joint marketing partners include (but are not limited to) banks and credit unions.|
Other Important Information
|Do not call policy. This notice is the StreetShares Do Not Call Policy under the Telephone Consumer Protection Act. We do not solicit via telephone numbers listed on the state or federal Do Not Call lists, unless the law allows. StreetShares employees receive training on how to document and process telephone marketing choices. StreetShares members who ask not to receive telephone solicitations from StreetShares will be placed on the StreetShares Do Not Call list and will not be called in any future campaigns, including those of StreetShares’ affiliates. |
Call Monitoring and Recording. If you communicate with us by telephone, we may monitor or record the call.
|For Nevada residents only. We are providing you this notice under state law. You may be placed on our internal Do Not Call List by following the directions in the To limit direct marketing contact section in this notice. We are providing the following contact information under Nevada law: Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington St., Suite 3900, Las Vegas, NV 89101; Phone number: 702.486.3132; email: firstname.lastname@example.org. StreetShares,1900 Campus Commons Drive, Suite 200; Reston, VA 20191; Phone number: 1-800-560-1435; email: email@example.com; https://streetshares.com/contact-us/.|
|California: We will not share personal information we collect about persons with a California address with nonaffiliates, unless the law allows. For example, we may share information with your consent, to service your accounts, or to provide rewards or benefits you are entitled to. We will limit sharing among our affiliates to the extent required by California law.|
|Vermont: We will not share personal information we collect about persons with a Vermont address with nonaffiliates, unless the law allows. For example, we may share information with your consent, to service your accounts, or under joint marketing agreements with other financial institutions with which we have joint marketing agreements. We will not share information about your creditworthiness with our affiliates except with your consent, but we may share information about our transactions or experiences with you with our affiliates without your consent.|
INFORMATION WE COLLECT FROM SITE USERS
We collect information about your computer and your visits to our Site, such as your IP address, geographical location, browser type, referral source, length of visit, page views, and other information. We use this aggregated information in the administration of our Site to improve its usability and to evaluate the success of particular marketing/advertising campaigns, search engine optimization strategies, and other marketing activities.
In addition, we gather the names and email addresses or other contact information of anyone who contacts us with questions about our company or operations in order to serve the respective needs of these individuals and assist these individuals as appropriate.
LINKS TO THIRD PARTIES
We may send you links to third parties as StreetShares may work with certain charitable organizations, veterans’ groups, or outside business partners. From time to time, StreetShares may provide you with a link to these third-party websites. StreetShares is not responsible for the information practices employed by sites linked to or from our Site. In most cases, links to nonStreetShares’ Sites are provided solely as an access point to obtain information on other issues or topics that may be useful to the users of the StreetShares website. Third-party websites may have different privacy policies and/or security standards governing their sites. You should read these privacy policies carefully. Links to third parties do not imply endorsement or approval by us.
INFORMATION WE COLLECT FROM MEMBERS
StreetShares collects four categories of information from Members:
- Information from all Site users to help us maintain the appropriate features, functionality, and user experience,
- Personal information required to verify the identity and eligibility for membership of prospective Members,
- Personal and financial information necessary to permit a Business Borrower Member (“Business Borrower” or “Borrower”) to submit a request to borrow funds (“Loan Request”) or for an Investor Member (“Investor”) to invest through the StreetShares platform, and
- Optional personal information a Member may wish to share in the furtherance of a Member’s goals in using the StreetShares platform.
The collection of information is necessary to (a) enable registered Members to login to the Site, (b) provide Members with updates, news, information, and other content regarding StreetShares and the StreetShares community, (c) verify Members’ identities and eligibility for membership as Business Borrowers or Investors, and (d) guard against potential fraud.
USE OF INFORMATION COLLECTED FROM STREETSHARES MEMBERS
INFORMATION COLLECTED FROM BUSINESS BORROWERS OR INVESTORS
If you wish to become an Investor of a Business Borrower, certain personal information must be supplied during the registration processes. Information we collect from Members may include, but is not limited to the following, depending on the choices Members make about applying for products and services offered by StreetShares:
- Email addresses,
- Full names,
- Non-identifying display names,
- Physical addresses and telephone numbers,
- Dates of birth
- Age of business,
- Addresses and telephone numbers,
- Social Security numbers,
- Employee identification numbers,
- Citizenship, income, net worth, determinants of financial sophistication, and other information relevant to determining accredited investor status,
- Business websites,
- Social media profiles,
- Bank account information in order to conduct funding, repayment, distribution, and other transactions,
- Information about the size, revenue, financial condition, composition, and nature of a Businesses Borrower, information Business Borrowers’ provide to create a Loan Request, credit information, text, images, narrative, social media information, and supporting documents as necessary.
USES OF INFORMATION WE COLLECT FROM BUSINESS BORROWER MEMBERS
When a Member registers as a Business Borrower, we will use this information to:
- Obtain an individual and/or business credit report from our credit bureau partners and/or other business reports to help assess a Business Borrower Loan,
- Help the Member generate a Business Borrower profile,
- Complete transaction documents,
- Enable us or our financial services partners to implement automatic payments and fund transfers,
- Contact Members for customer service purposes,
- Implement transaction and collection activities as needed,
- Grant Investor access to Loan Requests posted Business Borrowers,
- Maintain regular communications with Members concerning transactions Members initiate, such as requesting information or assistance, submitting a Loan Request, making payments, transferring funds, and other related activities,
- Comply with federal and state regulations, requests for information, and meet other other requirements.
- Enable us to work more efficiently with any referral partner who referred you to us and help ensure Member experiences meet expectations.
- If you were referred to us by a referral partner, we may share your information with that referral partner.
USES OF INFORMATION WE COLLECT FROM INVESTOR MEMBERS
When a Member registers as an Investor, we will use this information to:
- Verify the Investor’s identity and eligibility to be an investor on the Site, including accredited investor status,
- Grant Investor access to Loan Requests posted by Business Borrowers,
- Complete transaction documents,
- Enable automatic payments, fund transfers, repayments, and distributions,
- Contact the Member regarding a transaction member requested or to discuss a problem with Member’s account,
- Maintain regular communications with Members as may be necessary to execute transactions members request,
- Comply with federal and state regulations, requests for information, and meet other legal requirements.
HOW AND WHEN MEMBER INFORMATION IS SHARED WITH OTHER PARTIES
Information is shared with other parties in the following ways:
- Required and optional information about Members may be displayed on Member profiles. Members can update these profiles; certain information is optional and Members may choose not to supply it and/or may remove the optional information. StreetShares may, but is not obligated to, monitor any entered optional information to assist in the protection of Member’s identity and regulatory compliance of the StreetShares platform.
- Business Borrowers create Loan Requests. Loan Requests contain information provided by the Business Borrower, including title, business description, address, narrative text, images, financial information, relevant financial ratios, and supporting documents. Loan Requests also contain information produced by the StreetShares proprietary credit model based on the personal and financial information provided by the Business Borrower and third-party sources. Loan requests may also contain links to social media profiles of the Business Borrower or Business Borrower Representative, as well as affinity-group membership information (such as military service, or other information) provided by the Business Borrower Representative.
- Investors are provided with access to Loan Requests posted by Business Borrowers. • If you were referred to us by a referral partner, we may share your information (including Loan Requests) with that referral partner.
- StreetShares may share your information for marketing purposes, including to market our products and services to you, to send joint marketing to you with other financial companies, for our affiliates to market to you, and for our nonaffiliates to market to you.
- StreetShares may share Member information with law enforcement or other government agencies as required by law or for the purposes of limiting fraud or to otherwise comply with legal requirements or legal process. We reserve the right to disclose Member personal information when we believe that disclosure is necessary to protect our rights and/or to comply with a judicial proceeding, court orders, regulatory requests, or other legal process.
- StreetShares may share information about Members with affiliates, outside partners, and service providers as necessary to provide services to Members and to perform the everyday business purposes of StreetShares and its affiliates. StreetShares works with a number of trusted service partners that perform vital functions as part of our operations, including, but not limited to, consumer and business credit bureaus, collection agencies, electronic payment service providers, and customer support call centers, among others. Information is shared with these third parties only to the extent necessary for us to process the transactions Members initiate or perform other specific services, like collections.
We will retain information for as long as an account is active or as needed to provide services. We will retain and use your information as necessary to comply with our legal obligations, resolve disputes, and enforce our agreements.
HOW MEMBERS’ STREETSHARES LOAN DATA IS SHARED
YOUR OPTIONS AND COMMUNICATIONS FROM OUR SITE
MEMBERS MAY NOT OPT OUT OF SOME COMMUNICATIONS
When Members register on our Site, Members will receive required emails that relate to account servicing or confirm specific actions requested. Members will receive notifications confirming Member registration, the successful verification of bank accounts, confirmation of successful submissions and transactions, information related to Business Borrower loans or Loan Requests, closing documents, and emails for other purposes necessary to protect the security of the Member account and Member personal information. Members may control the frequency of some servicing communications, but this must occur within the limits of StreetShares’ duty to ensure that our Members are informed of certain actions related to Members’ activities on the platform.
MEMBERS MAY OPT OUT OR ELECT THE FREQUENCY WITH WHICH THE MEMBER WISHES TO RECEIVE CERTAIN EMAILS AND NOTICES
Members on our Site may opt out of other communications from our Site, including updates on Loan Requests the Member is tracking, engaged in, or supporting, and whether certain information is shared with other Members. We may also send Member responses to emails Members send us, if appropriate or applicable. From time to time, we will also send surveys, requests for Member feedback regarding user experience, and Site operations or additional services from us or from us on behalf of our marketing partners, including by telephone to cellular phone numbers or text messages, if you have provided us with these numbers. The completion of surveys or requests for feedback or acceptance of any offer is voluntary. If you do not wish to receive these offers, surveys, or user feedback emails, please opt out in any offer email received from us. Please see the StreetShares Agreement regarding Telephone Consumer Protection Act (TCPA) compliance and opt out. You may opt out of all solicitations by emailing us at firstname.lastname@example.org.
The public portion of the Site available to non-members may contain testimonials of Members on our Site in addition to other endorsements. We may also display successful Business Borrower stories and Loan Requests for the benefit of other Members, prospective Business Borrowers, the media, and the public. Your use of the Site constitutes your consent to appear in a testimonial. If a Member wishes to not appear in a Member testimonial, the Member may make such a request to email@example.com.
WHERE MEMBERS CAN FIND AND/OR CORRECT MEMBER INFORMATION
As a Member, you can update certain information on our Site by clicking on the “User Settings” after log-in. To change any other information, please contact us at firstname.lastname@example.org.
Please contact us with any questions regarding this policy:
Attn: Compliance Department
1900 Campus Commons Drive, Suite 200, Reston, VA 20191
Email at: email@example.com
The last thing that we want to make you aware of is that we comply with state and federal law. While that may go without saying, we do want to make it clear that this Agreement may not constitute your entire set of privacy rights, as these may also vary from state to state. To be certain of your privacy rights, you may wish to contact the appropriate agency in your state that is charged with overseeing privacy rights.
Now a few words from our lawyers:
ADDITIONAL TERMS & CONDITIONS:
INVESTOR MEMBERS: SECURITIES MATTERS
Notwithstanding anything to the contrary in this Agreement, in no event shall anything in this Agreement be deemed to be a waiver, and we will not assert there has been a waiver, that would not be permissible under Section 14 of the Securities Act of 1933, Section 29(a) of the Securities Exchange Act of 1934, or any other applicable provision of federal and state securities laws.
AUTHORIZED BUSINESS BORROWER REPRESENTATIVE
If you enter the Site as a Business Borrower Representative, create a Business Borrower profile, establish a Business Borrower Loan Request (“Loan Request”), or hold yourself out as a representative or agent of a current or prospective Business Borrower, you represent and certify that you are authorized to act on behalf of the Business Borrower with full authority to represent the Business Borrower and form binding legal commitments on behalf of the Business Borrower, to include the authority to enter into legally binding debt agreements.
REGISTRATION DATA; ACCOUNT SECURITY
In consideration of your use of the Site, you agree to (a) provide accurate, current, and complete information as may be prompted by any registration forms on the Site (“Registration Data”); (b) maintain the security of your password and identification; (c) maintain and promptly update the Registration Data, and any other information you provide to StreetShares, to keep it accurate, current, and complete; and (d) be fully responsible for all use of your account and for any actions that take place using your account.
PROPRIETARY RIGHTS IN SITE CONTENT; LIMITED LICENSE
All content on the Site, or offered by the StreetShares platform or through StreetShares.com (collectively the “Service”) including but not limited to designs, text, graphics, pictures, video, information, software, music, sound and other files, and their selection and arrangement (the “Site Content”), are the proprietary property of StreetShares with all rights reserved. No Site Content may be modified, copied, distributed, framed, reproduced, republished, downloaded, displayed, posted, transmitted, or sold in any form or by any means, in whole or in part, without the prior written permission, except as provided in the following sentence and except that the foregoing does not apply to your own User Content (as defined below) that you legally post on the Site. Provided that you are eligible for use of the Site, you are granted a limited license to access and use the Site and to download or print a copy of any portion of the Site Content solely for your personal use, provided that you keep all copyright or other proprietary notices intact. Except for your own User Content (as defined below), you may not republish Site Content on any Internet, Intranet, or Extranet site or incorporate the information in any other database or compilation, and any other use of the Site Content is strictly prohibited. Any use of the Site or the Site Content other than as specifically authorized herein, without the prior written permission of StreetShares, is strictly prohibited and will terminate the license granted herein. Such unauthorized use may also violate applicable laws including without limitation copyright and trademark laws and applicable communications regulations and statutes. Unless explicitly stated herein, nothing in this Agreement shall be construed as conferring any license to intellectual property rights, whether by estoppel, implication or otherwise. This license is revocable by us at any time without notice and with or without cause.
RESTRICTIONS ON DATA COLLECTION/TERMINATION
Without our prior written consent, you may not:
- use any automated means to access this Site or collect any information from the Site (including, without limitation, robots, spiders, scripts, or other automatic devices or programs),
- frame the Site, utilize framing techniques to enclose any Site Content or other proprietary information, place pop-up windows over this Site’s pages, or otherwise affect the display of this Site’s pages,
- engage in the practices of “screen scraping,” “database scraping,” or any other activity with the purpose of obtaining content or other information, or
- use this Site in any manner that violates applicable law or that could damage, disable, overburden, or impair this Site, or interfere with any other party’s use and enjoyment of this Site.
We may terminate, disable, or limit your access to, or use of, this Site and the Service for any reason, including without limitation, if we believe that you have violated or acted inconsistently with any portion of this Agreement.
StreetShares’ Site graphics, logos, designs, page headers, button icons, scripts, and service names are trademarks or trade dress of StreetShares in the U.S. and/or other countries, or otherwise used with permission by StreetShares. The StreetShares trademarks and trade dress may not be used, including as part of trademarks and/or as part of domain names, in connection with any product or service in any manner that is likely to cause confusion and may not be copied, imitated, or used, in whole or in part, without the prior written permission of StreetShares.
MEMBER AND USER REPRESENTATIONS
You represent, warrant, and agree that no materials of any kind submitted through your account or otherwise posted or shared by you will violate or infringe upon the rights of any third party, including copyright, trademark, privacy, publicity, or other personal or proprietary rights; or contain libelous, defamatory, or otherwise unlawful material. You further agree not to harvest or collect email addresses or other contact information of Members from the Site by electronic or other means for the purposes of sending unsolicited emails or other unsolicited communications. Additionally, you agree not to use automated scripts to collect information from the Site or for any other purpose.
You further agree that you may not use the Service or its Site in any unlawful manner or in any other manner that could damage, disable, overburden, or impair the Site. In addition, you agree not to use the Service or the Site to:
- upload, post, transmit, share, store, or otherwise make available any content that we deem to be harmful, threatening, unlawful, defamatory, infringing, abusive, inflammatory, harassing, vulgar, obscene, fraudulent, invasive of privacy or publicity rights, hateful, or racially, ethnically, or otherwise objectionable,
- register for more than one Member account, register for a Member account on behalf of an individual other than yourself (other than a Business Borrower Representative representing an existing or prospective Business Borrower),
- impersonate any person or entity, or falsely state or otherwise misrepresent yourself, your age, or your affiliation with any person or entity,
- upload, post, transmit, share, or otherwise make available any unsolicited or unauthorized advertising, solicitations, promotional materials, “junk mail,” “spam,” “chain letters,” “pyramid schemes,” or any other form of solicitation,
- upload, post, transmit, share, store, or otherwise make publicly available on the Site any private information of any third party, including, without limitation, addresses, telephone numbers, email addresses, Social Security Numbers, and credit card numbers, unless you are the authorized Representative of a Business Borrower sharing applicable Business Borrower information or are sharing applicable information about yourself as a prospective Investor Member,
- solicit personal information from anyone under 18 or solicit passwords or personally identifying information for commercial or unlawful purposes,
- upload, post, transmit, share, or otherwise make available any material that contains software viruses or any other computer code, files, or programs designed to interrupt, destroy, or limit the functionality of any computer software or hardware or telecommunications equipment,
- intimidate or harass another Member,
- upload, post, transmit, share, store, or otherwise make available content that would constitute, encourage, or provide instructions for a criminal offense, violate the rights of any party, or that would otherwise create liability or violate any local, state, national, or international law,
- use or attempt to use another’s account, service or system without authorization, or create a false identity on the Service or the Site,
- upload, post, transmit, share, store, or otherwise make available content that, in the sole judgment of StreetShares, is objectionable or which restricts or inhibits any other person from using or enjoying the Site, or which may expose StreetShares or its Members to any harm or liability of any type.
USER CONTENT POSTED ON THE SITE
You are solely responsible for any content, including, but not limited to, photos, profiles, messages, notes, text, information, music, video, contact information for you or others, advertisements or other content that you upload, publish, provide, or display (hereinafter, “Post”) on or through the Service or the Site, or transmit to or share with other Members (collectively, the “User Content”).
It is against this Agreement for Members to contact other Members outside of the StreetShares Site for any purpose related to the activities of the Site. Violation of this prohibition may result in termination of your StreetShares’ membership.
You understand and agree that StreetShares may, but is not obligated to, review and delete or remove (without notice) any User Content in its sole discretion, including without limitation, User Content that in the sole judgment of StreetShares violates this Agreement, might be offensive or illegal, or might violate the rights of, harm, or threaten the safety of, Members or others.
By posting User Content to any part of the Site, you automatically grant, and you represent and warrant that you have the right to grant to StreetShares, an irrevocable, perpetual, non-exclusive, transferable, fully paid, worldwide license (with the right to sublicense) to use, copy, publicly perform, publicly display, reformat, translate, excerpt (in whole or in part), and distribute such User Content for any purpose on or in connection with the Site or the promotion thereof, to prepare derivative works of, or incorporate into other works, such User Content, and to grant and authorize sublicenses of the foregoing.
You may remove your User Content from the Site at any time. If you choose to remove your User Content, the license granted above will not expire.
If you believe that any material on the Site infringes upon any copyright that you own or control, you may send a written notification of such infringement to our Designated Agent as set forth below:
Attention: Legal Department
1900 Campus Commons Drive, Suite 200,
Reston, VA 20191
Telephone: 1.800.560.1435 or 1.571.325.2966
To meet the notice requirements under the Digital Millennium Copyright Act (“DMCA”), the notification must be a written communication that includes the following:
- A physical or electronic signature of a person authorized to act on behalf of the owner of an exclusive right that is allegedly infringed,
- Identification of the copyrighted work claimed to have been infringed, or, if multiple copyrighted works at a single online site are covered by a single notification, a representative list of such works at that site,
- Identification of the material that is claimed to be infringing or to be the subject of infringing activity and that is to be removed or access to which is to be disabled, and information reasonably sufficient to permit us to locate the material,
- Information reasonably sufficient to permit us to contact the complaining party, such as an address, telephone number and, if available, an electronic mail address at which the complaining party may be contacted,
- A statement that the complaining party has a good-faith belief that use of the material in the manner complained of is not authorized by the copyright owner, its agent or the law, and
- A statement that the information in the notification is accurate, and under penalty of perjury, that the complaining party is authorized to act on behalf of the owner of an exclusive right that is allegedly infringed.
REPEAT INFRINGER POLICY
In accordance with the DMCA and other applicable law, StreetShares has adopted a policy of terminating, in appropriate circumstances and at StreetShares’ sole discretion, the membership or access to the Site of Members who are deemed to be repeat infringers. StreetShares may also at its sole discretion limit access to the Site and/or terminate the memberships of any Members who infringe any intellectual property rights of others, whether or not there is any repeat infringement.
CONSENT TO ELECTRONIC TRANSACTIONS AND DISCLOSURES
Because StreetShares operates only on the Internet, you must consent to transact business with us online and electronically. We also need your consent to our providing you with certain disclosures electronically, either via our Site or to the email address you provide.
BY AGREEING TO THIS AGREEMENT YOU AGREE TO RECEIVE ELECTRONICALLY VIA OUR SITE OR TO THE EMAIL ADDRESS YOU PROVIDE, ALL DOCUMENTS, COMMUNICATIONS, NOTICES (INCLUDING THE PRIVACY NOTICE), CONTRACTS, AND AGREEMENTS, ANY IRS FORMS (INCLUDING ANY AND ALL 1099 FORMS), AND ANY OTHER FORMS OR COMMUNICATIONS (“DISCLOSURES”) ARISING FROM OR RELATING TO ANY PRODUCTS OR SERVICES YOU MAY REQUEST OR RECEIVE AS A BUSINESS BORROWER OR INVESTOR MEMBER OF STREETSHARES.
An IRS Form 1099 refers to any Form 1099 or other Form, Schedule, or information statement, including corrections of such documents, required to be provided pursuant to U.S. Internal Revenue Service rules and regulations and that may be provided electronically (each, an “IRS Form 1099”). The decision to do business with us electronically is yours. This document informs you of your rights concerning Disclosures.
Any Disclosures will be provided to you electronically through StreetShares.com, either on our Site or via electronic mail to the verified email address you provided. If you require paper copies of such Disclosures, you may write to us at the mailing address provided below and a paper copy will be sent to you at a cost of up to $5.00. If you do not consent to receive an IRS Form 1099 electronically when you agree to this Agreement or subsequently revoke such consent, a paper copy of any IRS Form 1099 required to be delivered to you after the effective time of your failure to consent or revocation of consent will be sent to you at the latest mailing address you have provided at no cost. However, a fee may be charged for any additional or replacement copies of such IRS Form 1099. A request for a paper copy of any Disclosure will not be considered a withdrawal of your consent to receive Disclosures electronically. Any IRS 1099 Forms provided electronically will remain accessible through at least October 15 of the year in which such IRS Form 1099 is made available; after that time the IRS Form 1099 may no longer be accessible electronically. We may discontinue electronic provision of Disclosures at any time in our sole discretion.
SCOPE OF CONSENT
Your consent to receive Disclosures and transact business electronically, and our agreement to do so, applies to any transactions to which such Disclosures relate. Your consent will remain in effect for so long as you are a Member and, if you are no longer a Member, will continue until such a time as all Disclosures relevant to transactions that occurred while you were a Member have been made.
HARDWARE AND SOFTWARE REQUIREMENTS
Before you decide to do business electronically with StreetShares, you should consider whether you have the required hardware and software capabilities described below. In order to access and retain Disclosures electronically, you must satisfy the following computer hardware and software requirements: access to the Internet; an email account and related software capable of receiving email through the Internet, printing, and saving such information; a web browser which is SSL-compliant and supports secure sessions; and hardware capable of running this software.
BY SIGNING THIS AGREEMENT, YOU EXPRESSLY CONSENT TO RECEIVING CALLS AND MESSAGES, INCLUDING AUTO-DIALED AND PRE-RECORDED MESSAGE CALLS, AND SMS MESSAGES (INCLUDING TEXT MESSAGES) FROM US, OUR AFFILIATES, MARKETING PARTNERS, AGENTS, AND OTHERS CALLING AT THEIR REQUEST OR ON THEIR BEHALF. YOU EXPRESSLY CONSENT TO BEING CONTACTED AT THE SPECIFIC TELEPHONE NUMBERS THAT YOU PROVIDE TO US DURING MEMBER ONBOARDING OR MAY PROVIDE TO US IN THE FUTURE (INCLUDING ANY CELLULAR TELEPHONE NUMBERS). YOUR CELLULAR OR MOBILE TELEPHONE PROVIDER WILL CHARGE YOU ACCORDING TO THE TYPE OF PLAN YOU CARRY. UNLIKE OTHER PROVISIONS IN THIS AGREEMENT, YOU ARE NOT REQUIRED TO PROVIDE THE CONSENT REQUESTED IN THIS PARAGRAPH AS A CONDITION OF USING THE SERVICE, AND YOU MAY OPT OUT OF THIS PROVISION BY CHECKING THE OPT-OUT OPTIONS WITHIN THE SITE OR BY CONTACTING US AT SUPPORTDESK@STREETSHARES.COM.
ADDITIONAL MOBILE TECHNOLOGY REQUIREMENTS
If you are accessing our Site and the Disclosures electronically via a mobile device (such as a smart phone, tablet, and the like), in addition to the above requirements you must make sure that you have software on your mobile device that allows you to print and save the Disclosures presented to you during the application process. These applications can be found for most mobile devices in the device’s respective “app store.” If you do not have these capabilities on your mobile device, please access our Site through a device that provides these capabilities, as it is important that you are able to print and save these Disclosures for your records.
You may withdraw your consent to receive Disclosures electronically by contacting us at the address below. However, if you are a Borrower Member and you withdraw your consent, you will not be able to post Loan Requests on our Site. If you have a pending Loan Request on our Site, we will terminate it and remove it from our system. If you have already received a loan, all previously agreed-to terms and conditions will remain in effect, and we will send Disclosures to your verified home address provided during registration.
If you are an approved Investor Member on the Site and you withdraw your consent to receive Disclosures electronically, you may continue to contribute funds to meet Loan Requests on the Site. If you have already purchased one or more loans, all previously agreed-to terms and conditions will remain in effect, and we will send Disclosures to your verified home address provided during registration.
If you withdraw your consent to receive IRS Forms 1099 electronically, we will confirm your withdrawal and its effective date in writing by email. Such withdrawal will take effect for the calendar year in which it is made so long as such withdrawal is made before November 1 of such calendar year.
HOW TO CONTACT US REGARDING ELECTRONIC DISCLOSURES
You can contact us (Attn: Legal Department) via email at supportdesk@StreetShares.com or by calling us at 1.800.560.1435. You may also reach us in writing at StreetShares, Inc., 1900 Campus Commons Drive, Suite 200, Reston, VA 20191.
You agree to keep us informed of any change in your email or home mailing address so that you can continue to receive all Disclosures in a timely fashion. If your registered email address changes, you must notify us of the change by sending an email to supportdesk@StreetShares.com or calling 1.800.560.1435. You also agree to update your registered residence address and telephone number on the Site if they change.
You will print a copy of this Agreement for your records, and you agree and acknowledge that you can access, receive, and retain all Disclosures electronically sent via email or posted on the Site.
MEMBER CONTACT OUTSIDE OF THE SITE
You are solely responsible for your interactions with other Members both within the Site and outside of this Site. As stated above, it is prohibited for Members to contact each other outside of the Site for purpose related to the funding activities on the Site. Consistent with this prohibition, StreetShares expressly disclaims any responsibility for interactions between StreetShares members outside of the Site. We reserve the right, but have no obligation, to monitor interactions on the Site between you and other Members, as well as any disputes between you and other Members.
StreetShares does not guarantee the accuracy of any User Content or Third-Party Content. Although we provide rules for Member conduct and postings, we do not control and are not responsible for what Members post on the Site and are not responsible for any offensive, inappropriate, obscene, unlawful, or otherwise objectionable content you may encounter on the Site or in connection with any Member Generated Content or Third-Party Content. StreetShares is not responsible for the conduct, whether online or offline, of any Member of the Site or Service. StreetShares cannot guarantee and does not promise any specific results from use of the Site and/or the Service, including any particular rates of return for Investor Members or the funding of or particular interest rates for loans requested by Business Borrower Members.
The Site and the Service may be temporarily unavailable from time to time for maintenance or other reasons. StreetShares assumes no responsibility for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or destruction, or unauthorized access to, or alteration of, Member communications. StreetShares is not responsible for any problems or technical malfunction of any telephone network or lines, computer online systems, servers or providers, computer equipment, software, failure of email or players on account of technical problems or traffic congestion on the Internet or on the Site or combination thereof, including injury or damage to Members or to any other person’s computer related to or resulting from participating or downloading materials in connection with the Web and/or in connection with the Service. Under no circumstances will StreetShares be responsible for any harm or loss, resulting from anyone’s use of the Site or the Service, any User Content or Third-Party Content posted on or through the Site or the Service or transmitted to Members, or any interactions between Members of the Site, whether online or offline. StreetShares reserves the right to change any and all content contained in the Site and any Service offered through the Site at any time without notice. Reference to any products, services, processes, or other information, by trade name, trademark, manufacturer, supplier, or otherwise does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by StreetShares.
LIMITATION ON LIABILITY
EXCEPT IN JURISDICTIONS WHERE SUCH PROVISIONS ARE RESTRICTED AND EXCEPT AS PROVIDED ABOVE IN THE PARAGRAPH TITLED, “INVESTOR MEMBERS: SECURITIES MATTERS,” YOU ACKNOWLEDGE AND AGREE THAT, IN NO EVENT WILL STREETSHARES OR ITS DIRECTORS, OFFICERS, EMPLOYEES, OR AGENTS BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL, OR PUNITIVE DAMAGES, INCLUDING FOR ANY LOST PROFITS OR LOST DATA ARISING FROM YOUR USE OF THE SITE OR THE SERVICE OR ANY OF THE SITE CONTENT OR OTHER MATERIALS ON OR ACCESSED THROUGH THE SITE, EVEN IF STREETSHARES IS AWARE OR HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN EXCEPT AS PROVIDED ABOVE IN THE PARAGRAPH TITLED “INVESTOR MEMBERS: SECURITIES MATTERS,” TO THE EXTENT PERMITTED BY APPLICABLE LAW STREETSHARES’ LIABILITY TO YOU FOR ANY CAUSE WHATSOEVER, AND REGARDLESS OF THE FORM OF THE ACTION, WILL AT ALL TIMES BE LIMITED TO THE AMOUNT PAID, IF ANY, BY YOU TO STREETSHARES FOR THE SERVICE DURING THE TERM OF MEMBERSHIP. IN NO CASE, EXCEPT AS PROVIDED ABOVE IN THE PARAGRAPH TITLED “INVESTOR MEMBERS: SECURITIES MATTERS,” WILL STREETSHARES’ LIABILITY TO YOU EXCEED $1,000. YOU ACKNOWLEDGE THAT IF NO FEES ARE PAID TO STREETSHARES FOR THE SERVICE, YOU AGREE TO BE LIMITED TO INJUNCTIVE RELIEF ONLY, AND YOU AGREE THAT YOU WILL NOT BE ENTITLED TO DAMAGES OF ANY KIND FROM STREETSHARES, REGARDLESS OF THE CAUSE OF ACTION. IN ADDITION TO THE SPECIFIC SECURITIES LAWS PROVISIONS DESCRIBED ABOVE IN THE PARAGRAPH TITLED “INVESTOR MEMBERS: SECURITIES MATTERS,” CERTAIN FEDERAL AND STATE LAWS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF CERTAIN DAMAGES OR LIMITATIONS ON IMPLIED WARRANTIES. IF THESE LAWS APPLY TO YOU, SOME OR ALL OF THE ABOVE DISCLAIMERS, EXCLUSIONS, OR LIMITATIONS MAY NOT APPLY TO YOU, AND YOU MAY HAVE ADDITIONAL RIGHTS.
GOVERNING LAW; VENUE AND JURISDICTION
By visiting or using the Site and/or the Service, you agree that the laws of the Commonwealth of Virginia, without regard to any principles of conflict of laws that would require or permit the application of the laws of any other jurisdiction, will govern this Agreement. If your business obtains a loan, the terms of the loan will be governed by the lending laws of the Commonwealth of Virginia to the extent not preempted, without regard to any principle of conflicts of laws that would require or permit the application of the laws of any other jurisdiction.
NOTICE OF DISPUTE RESOLUTION BY BINDING ARBITRATION AND CLASS ACTION/CLASS ARBITRATION WAIVER
a. IMPORTANT: PLEASE READ CAREFULLY. THE FOLLOWING PROVISION (“ARBITRATION PROVISION”) CONSTITUTES A BINDING AGREEMENT THAT LIMITS CERTAIN RIGHTS, INCLUDING YOUR RIGHT TO OBTAIN RELIEF OR DAMAGES THROUGH COURT ACTION OR AS A MEMBER OF A CLASS. THAT MEANS THAT, IN THE EVENT THAT YOU HAVE A COMPLAINT AGAINST STREETSHARES THAT THE STREETSHARES CUSTOMER SERVICE DEPARTMENT IS UNABLE TO RESOLVE TO YOUR SATISFACTION, YOU AND STREETSHARES AGREE TO RESOLVE YOUR DISPUTE THROUGH BINDING ARBITRATION OR SMALL CLAIMS COURT, INSTEAD OF THROUGH COURTS OF GENERAL JURISDICTION OR THROUGH A CLASS ACTION. BY ENTERING INTO THIS AGREEMENT, YOU AND STREETSHARES ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY AND TO PARTICIPATE IN ANY CLASS ACTION, EXCEPT IN CASES THAT INVOLVE PERSONAL INJURY.
b. “Claim” shall mean any dispute or controversy arising out of or relating to this Agreement, your use of the StreetShares Site, and/or the transactions, activities, or relationships that involve, lead to, or result from any of the foregoing, (except for cases pending in Small Claims Court as provided in Section (h) of this Arbitration Provision, or claims for personal injury). Claims include, but not limited to breach of contract, fraud, misrepresentation, express or implied warranty, and equitable, injunctive, or declaratory relief, as well as claims relating to loan servicing, credit/collections, and securities matters, regardless of the originating source (common law, statute, constitution, regulation, etc.). Claims include matters arising as initial claims, counter-claims, cross-claims, third-party claims, or otherwise and include those brought by or against your assigns, heirs, or beneficiaries.
c. Either party to this Agreement has the right to require binding arbitration as the sole and exclusive forum and remedy for resolution of a claim between you and StreetShares. The party initiating arbitration shall do so with the American Arbitration Association (the “AAA”). The procedure shall be governed by the AAA Commercial Rules, and the parties stipulate that the law of the Commonwealth of Virginia applies, without regard to conflict-of-law principles. In the case of a conflict between the rules and policies of the administrator and this Arbitration Provision, this Arbitration Provision shall control, subject to controlling law, unless all parties to the arbitration consent to have the rules and policies of the administrator apply. Arbitration shall take place in Arlington, Virginia, within the U.S. Eastern District of Virginia, or in such location as agreed upon by the parties.
d. Absent agreement among the parties, the presiding arbitrator shall determine how to allocate the fees and costs of arbitration among the parties according to the administrator’s rules or in accordance with controlling law if contrary to those rules. Each party shall bear the expense of that party’s attorneys, experts, and witnesses, regardless of which party prevails in the arbitration, unless controlling law provides a right for the prevailing party to recover fees and costs from the other party. Notwithstanding the foregoing, if the arbitrator determines that your claim is frivolous or brought for an improper purpose (as measured by the standards set forth in Federal Rule of Civil Procedure 11(b)), we shall not be required to pay any fees or costs of the arbitration proceeding, and any previously paid fees or costs shall be reimbursed by you.
e. If the amount in controversy exceeds $50,000, any party may appeal the arbitrator’s award to a three arbitrator panel within 30 days of the final award. Additionally, in the event of such an appeal, any opposing party may cross-appeal within 30 days after notice of the appeal. The three-arbitrator panel may consider all of the evidence and issue anew award, and the panel does not have to adopt or give any weight to the first arbitrator’s findings of fact or conclusion. This is called “de novo” review. Costs and conduct of any appeal shall be governed by this Arbitration Provision and the administrator’s rules, in the same way as the initial arbitration proceeding. Any award by the individual arbitrator that is not subject to appeal, and any panel award on appeal, shall be final and binding, except for any appeal right under the Federal Arbitration Act (FAA), and may be entered as a judgment in any court of competent jurisdiction.
f. The parties agree that this Arbitration Provision is made pursuant to a transaction between you and StreetShares that involves and affects interstate commerce and therefore shall be governed by and enforceable under the FAA. The arbitrator will apply substantive law consistent with the FAA and applicable statutes of limitations. The arbitrator may award damages or other types of relief permitted by the law of the Commonwealth of Virginia, subject to the limitations set forth in this Agreement. The arbitrator will not be bound by judicial rules of procedure and evidence that would apply in a court. The parties also agree that the proceedings shall be confidential to protect intellectual property rights.
g. IF YOU DO NOT AGREE TO THE TERMS OF THIS ARBITRATION AGREEMENT, YOU MAY OPT OUT OF THIS ARBITRATION PROVISION BY SENDING AN ARBITRATION OPT-OUT NOTICE TO STREETSHARES, INC., 1900 CAMPUS COMMONS DRIVE, SUITE 200, RESTON, VA 20191, THAT IS RECEIVED AT THIS ADDRESS WITHIN 30 DAYS OF YOUR FIRST ELECTRONIC ACCEPTANCE OF THIS FORM. YOUR OPT-OUT NOTICE MUST CLEARLY STATE THAT YOU ARE REJECTING ARBITRATION; IDENTIFY THE AGREEMENT TO WHICH IT APPLIES BY DATE; PROVIDE YOUR NAME, ADDRESS, AND SOCIAL SECURITY NUMBER; AND BE SIGNED BY YOU. YOUR MAY CONVEY THE OPT-OUT NOTICE BY U.S. MAIL OR ANY PRIVATE MAIL CARRIER (E.G. FEDERAL EXPRESS, UNITED PARCEL SERVICE, DHL EXPRESS, ETC.), SO LONG AS IT IS RECEIVED AT THE ABOVE MAILING ADDRESS WITHIN 30 DAYS OF YOUR FIRST ELECTRONIC ACCEPTANCE OF THE TERMS OF THIS AGREEMENT. IF THE NOTICE IS SENT BY A THIRD PARTY, SUCH THIRD PARTY MUST INCLUDE EVIDENCE OF HIS OR HER LEGAL AUTHORITY TO SUBMIT THE OPT-OUT NOTICE ON YOUR BEHALF. IF YOUR OPT-OUT NOTICE IS NOT RECEIVED WITHIN 30 DAYS, YOU WILL BE DEEMED TO HAVE ACCEPTED ALL TERMS OF THIS ARBITRATION AGREEMENT.
h. StreetShares agrees not to invoke our right to arbitrate an individual Claim you may bring in Small Claims Court or an equivalent court, if any, so long as the Claim is pending only in that court. NO ARBITRATION SHALL PROCEED ON A CLASS, REPRESENTATIVE, OR COLLECTIVE BASIS (INCLUDING AS PRIVATE ATTORNEY GENERAL ON BEHALF OF OTHERS), EVEN IF THE CLAIM OR CLAIMS THAT ARE THE SUBJECT OF THE ARBITRATION HAD PREVIOUSLY BEEN ASSERTED (OR COULD HAVE BEEN ASSERTED) IN A COURT AS CLASS REPRESENTATIVE, OR COLLECTIVE ACTIONS IN A COURT. Unless consented to in writing by all parties to the arbitration, no party to the arbitration may join, consolidate, or otherwise bring claims for or on behalf of two or more individuals or unrelated corporate entities in the same arbitration unless those persons participated in the same loan request or bid transaction. Unless consented to in writing by all parties to the arbitration, an award in arbitration shall determine the rights and obligations of the named parties only, and only with respect to the claims in arbitration, and shall not (a) determine the rights, obligations, or interests of anyone other than a named parties, or resolve any Claim of anyone other than a named party; nor (b) make an award for the benefit of, or against, anyone other than a named party. No administrator or arbitrator shall have the power or authority to waive, modify, or fail to enforce this Section (h) and any attempt to do so, whether by rule, policy, arbitration decision, or otherwise, shall be invalid and unenforceable. Any challenge to the validity of this Section (h) shall be determined exclusively by a court and not by the administrator or any arbitrator.
i. This Arbitration Provision shall survive (i) suspension, termination, revocation, closure, or amendments to this Agreement and the relationship of the parties; (ii) the bankruptcy or insolvency of any party or other person; and (iii) any transfer of any loan or Note or any other promissory note(s) which you owe, or any amounts owed on such loans or notes, to any other person or entity. If any portion of this Arbitration Provision other than the prohibitions on class arbitration in Sections (a) and (h) herein is deemed invalid or unenforceable under any law or statute consistent with the FAA, it shall not invalidate the other provisions of this Arbitration Provision or this Agreement; if the prohibition on class arbitration is deemed invalid, however, then this entire Arbitration Agreement shall be null and void.
j. THE PARTIES ACKNOWLEDGE THAT THEY HAVE A RIGHT TO LITIGATE CLAIMS THROUGH A COURT BEFORE A JUDGE, BUT WILL NOT HAVE THAT RIGHT IF ANY PARTY ELECTS ARBITRATION PURSUANT TO THIS ARBITRATION PROVISION. THE PARTIES HEREBY KNOWINGLY AND VOLUNTARILY WAIVE THEIR RIGHTS TO LITIGATE SUCH CLAIMS IN A COURT UPON ELECTION OF ARBITRATION BY ANY PARTY. THE PARTIES HERETO WAIVE A TRIAL BY JURY IN ANY LITIGATION RELATING TO THIS AGREEMENT, THE CORRESPONDING MEMBER LOAN, OR ANY OTHER AGREEMENTS RELATED THERETO.
You agree to indemnify and hold StreetShares, its subsidiaries and affiliates, and each of their directors, officers, agents, contractors, partners, and employees, harmless from and against any loss, liability, claim, demand, damages, costs and expenses, including reasonable attorney’s fees, arising out of or in connection with your User Content, any third-party content you post or share on or through the Site, your use of the Service or the Site, your conduct in connection with the Service or the Site or with other Members of the Service or the Site, or any violation of this Agreement or of any law or the rights of any third party.
You acknowledge and agree that any questions, comments, suggestions, ideas, feedback, or other information about the Site or the Service (“Submissions”) provided by you to StreetShares are nonconfidential and shall become the sole property of StreetShares. StreetShares shall own exclusive rights, including all intellectual property rights, and shall be entitled to the unrestricted use and dissemination of these Submissions for any purpose, commercial or otherwise, without acknowledgment or compensation to you.
The failure of StreetShares to exercise or enforce any right or provision of this Agreement shall not constitute a waiver of such right or provision in that or any other instance.
If any provision of this Agreement is held invalid, the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement shall be deemed unlawful, void or for any reason unenforceable, then that provision shall be deemed severable from this Agreement and shall not affect the validity and enforceability of any remaining provisions.
CONSTRUCTION WITH OTHER AGREEMENTS
After creating a membership with us, Members may, but are not required to, apply to become Business borrowers and/or Investors. Business Borrowers are represented on the Site by individuals who act as authorized agents of the Business Borrowers on the Site (“Business Borrower Representatives”). In addition to this Agreement, you may enter into other agreements with us or others that will govern your use of the Service or related services offered by us or by others. If there is any contradiction between this membership Agreement and another agreement you enter into that applies to specific aspects of the Service, the specific agreement shall take precedence over this general Agreement in relation to the specific aspects of the Service to which it applies.
The headings in this Agreement are for information, reference, and convenience only and shall not affect the meaning, interpretation, or construction of the terms herein.
BANK, CREDIT UNION, AND REFERRAL PARTNER CONDITIONS DISCLOSURES
We may partner with banks, credit unions, and other referral sources. Based on the referral source, Borrower Members may be subject to additional or different terms and conditions on financial services or products obtained from StreetShares. For example, before we fund a loan, a Borrower Member may be required to be a member of a certain bank, credit union, or other referral source or a Borrower Member may be required to have a bank account at a certain bank, credit union, or other referral source.
EQUAL CREDIT OPPORTUNITY ACT DISCLOSURES
a. If StreetShares takes adverse action regarding your application, you have the right to a statement of specific reasons within 30 days, if you request such a statement within 60 days of StreetShares’ notification to you of adverse action. If StreetShares chooses to provide the reasons orally, you have the right to have them confirmed in writing within 30 days of StreetShares receiving your written request for confirmation. To request a statement of specific reasons or written confirmation, contact StreetShares at 1900 Campus Commons Drive, Suite 200, Reston, VA, 20191 or by telephone at 1-800-560-1435.
b. The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal agency that administers compliance with this law concerning this creditor is FTC East Central Region, Cleveland, OH 44114, or Federal Trade Commission, Equal Credit Opportunity, Washington, DC 20580.
That’s pretty much it. We hope you enjoy being a StreetShares Member and if you have any questions, please reach out to us at firstname.lastname@example.org.
The StreetShares Team