Terms of Service

1. What LoanCentral does

LoanCentral records loan agreements that users make with each other on Reddit: who lent to whom, the amount, dates, repayments and status. It does this through a Reddit bot that reads commands in r/loancentral and through this website. Records are entered by the users involved and by moderators.

2. What LoanCentral does not do

• It does not lend or borrow money, arrange loans, or match lenders with borrowers.
• It does not hold, transfer or process any funds or payments.
• It does not set, suggest or approve interest rates, fees or repayment terms. Anything recorded is what the users agreed between themselves.
• It does not check anyone's identity, income or ability to repay, and it does not verify that money actually changed hands.
• It does not collect debts, and it does not report to credit bureaus.
• It does not give legal, financial or investment advice.
• It is not a bank, lender, broker, money transmitter, credit reporting agency or other regulated financial business.

3. Who can use it

LoanCentral is for people in the United States and Canada, and loans are recorded in USD or CAD. You must be at least 18 years old and allowed to enter into agreements where you live. You must follow Reddit's rules and the rules of r/loancentral. LoanCentral is run by the moderators of r/loancentral and is not affiliated with, or endorsed by, Reddit, Inc. or Google LLC.

4. Your responsibilities

• Your loans are your own. Every loan is an agreement between the lender and the borrower. You are solely responsible for deciding whether to lend or borrow and on what terms, and for the risk of not being repaid.
• Follow the law. You are responsible for complying with the laws that apply to you, including any laws on lending, interest rates, licensing, taxes and debt collection.
• Keep records accurate. Only record loans that really happened, with the real amounts. Don't record fake loans, confirm loans you didn't receive, or mark loans repaid or unpaid untruthfully.
• Don't misuse records. Don't use LoanCentral records to harass, threaten, shame or expose anyone, or for any purpose outside the subreddit's lending community. Records are not credit reports and must not be used to decide on employment, housing, insurance or credit outside r/loancentral.
• Keep your account secure. Your account is tied to your Reddit account and your Google account. Keep both secure; actions taken through them are treated as yours. Don't share sign-in links or keys.

5. Records can be wrong

Records are entered by users and are not independently verified. They may be incomplete, out of date or incorrect. Don't rely on a LoanCentral record as proof of anything or as the only basis for a decision. If a record about you is wrong, contact the moderators.

6. Moderation

Moderators can review disputes, correct or annotate records, freeze loans, change roles and verification, and suspend or ban accounts, following the subreddit's rules. Moderators are volunteers; LoanCentral does not guarantee the outcome of any dispute or review.

7. The service

LoanCentral is provided free of charge, "as is" and "as available", without warranties of any kind, express or implied, including that it will be accurate, uninterrupted or error-free. It may change, pause or stop at any time.

8. Limitation of liability

To the fullest extent permitted by law, LoanCentral and the people who run it are not liable for any loss or damage arising from loans between users, unpaid or late repayments, disputes, reliance on any record, or use of or inability to use the service. Nothing in these terms limits liability that cannot be limited by law.

9. Privacy

How LoanCentral handles information is explained in the Privacy Policy.

10. Changes

These terms may be updated. The date at the top shows the latest version. Continuing to use LoanCentral after a change means you accept the updated terms.

Contact

Email [email protected], or message the moderators of r/loancentral.