Repeat Borrower Program
Terms and Conditions (“Program Terms”):
Loop Funding Inc.'s (“Loop”) repeat loan program (the “Program”) is available to everyone with an outstanding loan that is in good standing (an “Eligible Borrower”) who receives a new loan from Loop, a portion or all of which is used to refinance the balances of all of their existing loans (the “Repeat Loan”).
To qualify, an Eligible Borrower must:
To qualify, an Eligible Borrower must:
- have one or more existing loans outstanding with Loop;
- meet Loop's borrower requirements to receive a new loan of at least $25,000;
- meet Loop's borrower requirements to receive a new loan with a Loan Grade that is equivalent or more favourable than the highest Loan Grade of their existing loan(s); and
- receive the Repeat Loan's proceeds by December 31, 2019.
To receive an Award for obtaining a Repeat Loan, the Eligible Borrower must accept and comply with the Program Terms, as well as the general Terms and Conditions of Loop which are located at: https://my.lendingloop.ca/terms-of-service.
For each Repeat Loan you receive that meets the Program Terms, you will receive a cash bonus equal to one thousand dollars [$1,000.00] (the “Award”). The Award will be paid to the active bank account you have on file with us within three (3) months of the date you receive your Repeat Loan. No alternate or substitute awards will be given in connection with the Program.
Repeat Loans submitted by a 3rd party agent or referrer do not qualify for the Program.
Within 6 months of receiving the Award, if an Eligible Borrower is either a) in default of its loan agreement, or b) becomes 7 days late on any loan payment, then the amount of the Award must be repaid to Loop in full within 7 days of first instance of being late on any loan payment.
You agree to abide by the Program Terms and the decisions of Loop, which are final. This Program is subject to all applicable laws and regulations.
Loop reserves the right at all times, in its sole discretion, to modify, amend, extend or withdraw all or any elements of the Program by posting a notice to www.lendingloop.ca/repeat-borrower-program.
For each Repeat Loan you receive that meets the Program Terms, you will receive a cash bonus equal to one thousand dollars [$1,000.00] (the “Award”). The Award will be paid to the active bank account you have on file with us within three (3) months of the date you receive your Repeat Loan. No alternate or substitute awards will be given in connection with the Program.
Repeat Loans submitted by a 3rd party agent or referrer do not qualify for the Program.
Within 6 months of receiving the Award, if an Eligible Borrower is either a) in default of its loan agreement, or b) becomes 7 days late on any loan payment, then the amount of the Award must be repaid to Loop in full within 7 days of first instance of being late on any loan payment.
You agree to abide by the Program Terms and the decisions of Loop, which are final. This Program is subject to all applicable laws and regulations.
Loop reserves the right at all times, in its sole discretion, to modify, amend, extend or withdraw all or any elements of the Program by posting a notice to www.lendingloop.ca/repeat-borrower-program.
