These Terms of Application constitute a legally binding agreement made between you, whether personally or on behalf of an entity (“you” or “Applicant”) and Streamline Capital LLC and its affiliates (the “Company,” “we,” “us,” or “our”), concerning your access to and use of applications for products and services provided by the Company. By accepting these Terms of Application, you agree that you have read, understood, and agreed to be bound by all of these Terms of Application. IF YOU DO NOT AGREE WITH ALL OF THESE TERMS OF APPLICATION, THEN YOU ARE EXPRESSLY PROHIBITED FROM CONTINUING WITH ANY APPLICATIONS AND YOU MUST DISCONTINUE USE IMMEDIATELY. Completing any application is void where prohibited.
Supplemental terms and conditions or documents that may be posted on the streamlinecapital.com website, as well as any other media form, media channel, mobile website, or mobile application related, linked, or otherwise connected thereto (collectively, the “Site”) from time to time, are hereby expressly incorporated herein by reference. We reserve the right, in our sole discretion, to make changes or modifications to these Terms of Application at any time and for any reason. We will alert you about any changes by updating the “Last updated” date of these Terms of Application, and you waive any right to receive specific notice of each such change. It is your responsibility to periodically review these Terms of Application to stay informed of updates.
SBA LOAN DISCLOSURE
On behalf of any U.S. Small Business Administration (the “SBA”) licensed lender on whose behalf we accept an application for an SBA loan, we advise applicants that they are not required to obtain or pay for unwanted services.
CREDIT GATHERING AUTHORIZATION
By indicating your agreement to these Terms of Application (for example, by checking the box in our application process consenting to these Terms of Application or otherwise submitting an application for a loan to us), you represent that you are authorized on behalf of yourself, the business listed in your application, and any guarantor or affiliate (collectively, the “Applicant Parties”) to make and submit representations regarding the Applicant Parties. You authorize the Company, its representatives, subsidiaries, affiliates, and lending sources to conduct, obtain, receive, and process a review of the Applicant Parties as the Company considers appropriate to process any application for business-purpose financial products.
As part of this review, you authorize the Company to obtain consumer/personal and/or business and investigative financial and credit reports for the Applicant Parties from one or more consumer reporting agencies (such as TransUnion, Experian, and Equifax) and from other credit bureaus, banks, creditors, and other third parties about the Applicant Parties. You further authorize and understand that the Company may obtain statements from creditors, financial institutions, and other third parties, as well as other information about the Applicant Parties, including credit card processor statements and bank statements.
You authorize the Company to obtain credit reports of the Applicant Parties during the review of any application submitted via email or at www.streamlinecapital.com, including any subdomains thereof, during the closing of any financial product, or at various times during the term of your financial product(s) in connection with its monitoring, servicing, or enforcement. This authorization shall constitute your written instructions under the Fair Credit Reporting Act. You further authorize the Company to contact third parties to verify any information provided in any credit report or otherwise submitted to the Company in connection with any application for financial products.
You acknowledge and agree that information that you provide to the Company or that the Company obtains will be shared with potential lenders and that these potential lenders may contact you using the contact information you have provided, including by email, calls, and/or texts.
You expressly authorize the Company to obtain and use the Applicant Parties’ tax return transcript(s) for the purpose of verification of income and other financial information, and compliance with federal, state, and local law, including without limitation SBA Loan Program Requirements, including verification of financial information, verification of tax return filing, and verification of tax return information. You further authorize the Company to share its tax return transcript(s) with the SBA and its agents for the purpose of complying with the SBA Loan Program Requirements, including discrepancy resolution, lender oversight activities, purchase reviews, complete file reviews, and other SBA reviews.
You acknowledge that if the borrower defaults on any SBA-guaranteed loan and the SBA suffers a loss, the names of the Applicant Parties, the borrower/guarantor of the SBA-guaranteed loan, and any additional owner(s) that control the borrower, will be referred for listing in the Credit Alert Verification Reporting System (CAIVRS) database, which may affect the eligibility of a business owned or controlled by any such individual(s) or entity(ies) for future financial assistance from the SBA or other Federal agencies or departments.
You confirm that the information you have provided to the Company as part of your application, as well as any subsequent information that might be submitted as part of your application, is true and correct and may be relied upon by the Company in its consideration of your application. Any misrepresentation that you make in conjunction with the information you submit may be viewed as fraud, and as such may be punishable by law.
USA PATRIOT ACT NOTICE
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT OR ESTABLISHING A NEW CUSTOMER RELATIONSHIP
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all U.S. financial institutions to obtain, verify, and record information that identifies each individual or legal entity that opens an account or establishes a customer relationship with any U.S. financial institutions whose products we offer. Federal law also requires all U.S. financial institutions to obtain, verify, and record information that identifies the beneficial owners of a legal entity that opens an account or establishes a customer relationship.
What this means for you: If you enter into a new customer relationship with any U.S. financial institutions whose products we offer, the Company will ask for your name, address, date of birth (as applicable), and other identification information. In addition, if you enter into a new customer relationship with any U.S. financial institutions whose products we offer on behalf of a legal entity, we will ask for the names, addresses, dates of birth, and other identification information of the beneficial owners of the legal entity. This information will be used to verify your identity and, in the case of a legal entity customer, the identity of the beneficial owners. As appropriate, the Company may, in its discretion, ask for additional documentation or information. If all required documentation or information is not provided, we and/or any U.S. financial institutions whose products we offer may be unable to open an account or establish a relationship with you.
AUTHORIZATION AND REPRESENTATIONS
You represent you are authorized on behalf of yourself and the business listed in the application to make and submit an application, to submit any accompanying documents, and to provide the consents and authorizations set out below. You are submitting this application to the Company and to third-party lenders, finance companies, and/or other third parties that are involved with or provide commercial loans or purchases of receivables (collectively, “Recipients”). If this application is approved, you are authorized to sign business financing or any other documentation on behalf of the business listed in the application. Please be advised that some business financing products may require a personal guaranty.
You represent and warrant that all information provided to Recipients is accurate and complete and that you will immediately notify the Company of any change in such information. You agree that Recipients may rely on the accuracy of the information provided and the Company may share all information and documents with other Recipients to fulfill Applicant’s requests. The Company and other Recipients may share information they have about you and the Applicant at any time for administrative, marketing, and servicing purposes as permitted by law, and that your personal information may be shared with Recipients as part of the underwriting process.
THIRD PARTY AUTHORIZATION AND REPRESENTATIONS
It is your responsibility to ensure that access to your account is provided only to persons you authorize, which can include your employees, officers, and other agents (secondary users). Secondary users can perform all of the same functions and have access to all of the same documents as the primary users on your Streamline Capital Smart Portal account. By adding a secondary user to your account, you represent to us that all secondary users have general authority from you and your business or company to give us instructions to perform transactions using our services. By adding a secondary user to your account, you agree that the user can edit and complete loan applications for you or your business or company, and agree to provide the user access to confidential and critical business documents provided to us by you or another secondary user. You agree you are authorizing any and all actions that the secondary users undertake as a result, including how a secondary user uses, shares, or otherwise acts on your account, even if you did not anticipate such actions. This includes actions by a secondary user’s employees and agents. You understand that allowing access to and the use of your account could potentially expose you to increased privacy and security risks, including unauthorized account transactions, loss of funds, identity theft, fraud, and unauthorized disclosure or compromise of your account information.
If you are a secondary user acting on behalf of the Applicant: (i) you represent that you have authority to submit information and provide instructions to perform transactions using our services for this business or company; (ii) you acknowledge and agree that the business or company and its owners, employees, and other agents can edit and complete loan applications for their business or company and understand that this owner (and employees and other agents of the business or company) can access confidential and critical business documents provided to us by you or another owner on this account; and (iii) you authorize all actions that the Applicant, your employees, and agents have taken or may take in relation to the account for future transactions.
ARBITRATION
By using any services provided by Streamline Capital, you agree that any dispute between you and the Company that arises out of or relates to these Terms of Application shall be resolved by binding arbitration, rather than in court. Arbitration will be governed by the rules of the American Arbitration Association, and the arbitration process will be conducted by an independent third party.
You agree to waive any right to a jury trial or class action related to any dispute arising from these Terms of Application.
GOVERNING LAW
These Terms of Application shall be governed by and construed in accordance with the laws of the State of Illinois, without regard to its conflict of law principles. Any legal action or proceeding under these terms shall be subject to the exclusive jurisdiction of the courts of Illinois.
DISCLAIMER
THE APPLICATION IS PROVIDED “AS IS.” THE COMPANY DISCLAIMS ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT OF INTELLECTUAL PROPERTY.
LIMITATIONS OF LIABILITY
IN NO EVENT SHALL THE COMPANY BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING, BUT NOT LIMITED TO, LOST PROFITS, REVENUE, DATA, OR USE, ARISING OUT OF OR IN CONNECTION WITH YOUR USE OR INABILITY TO USE THE APPLICATION OR ANY OTHER PRODUCTS OR SERVICES PROVIDED BY THE COMPANY. OUR LIABILITY SHALL NOT EXCEED THE AMOUNT PAID BY YOU FOR THE APPLICABLE SERVICE OR PRODUCT THAT GAVE RISE TO THE CLAIM.
ELECTRONIC COMMUNICATIONS AND SIGNATURES
By using our services, you consent to receive communications from us electronically, including via email, text messages, and via our website. All notices, agreements, and other communications provided to you electronically will be considered “in writing.” You agree that your use of an electronic signature on the application is the same as your signature on paper and constitutes your consent to these Terms of Application.
MISCELLANEOUS
These Terms of Application represent the entire understanding and agreement between you and Streamline Capital regarding your use of the services provided through our Site and application platform. If any part of these terms is held invalid or unenforceable, the remainder will continue in full force and effect. You agree that these Terms of Application may be amended or modified by Streamline Capital at any time, and you are bound by such changes as of the date they are posted.
