Terms & Conditions – Prosper Loans

1. General

Prosper Loans is a digital financial platform that assists individuals by connecting them with licensed and regulated financial institutions for loan-related services. Prosper Loans does not provide investment schemes, accept public deposits, or operate as a chit fund. Prosper Loans acts solely as a facilitator between applicants and third-party lenders.

2. Eligibility

Use of this platform is restricted to individuals who are 21 years of age or older and legally capable of entering into binding contracts under applicable Canadian laws.

3. Account Responsibility

To access certain services, you may be required to create an account. You are responsible for maintaining the confidentiality of your login credentials and for all activity conducted under your account. If you believe your account has been accessed without authorization, you must notify Prosper Loans immediately.

4. Privacy

Prosper Loans collects, uses, and processes personal information in accordance with its Privacy Policy. By using this platform, you consent to the collection and processing of your information as described in that policy.

5. Payment Protection Insurance (Optional)

In some cases, lenders or third-party providers may offer Payment Protection Insurance (PPI) or similar coverage. This insurance may help cover loan repayments in the event of illness, injury, or involuntary unemployment. Coverage terms, eligibility, and costs are determined solely by the insurance provider and are subject to their policy documents.

6. Use License

You are granted a limited, non-exclusive, non-transferable license to access and use this platform for personal, non-commercial purposes only. Any unauthorized, commercial, fraudulent, or abusive use is strictly prohibited.

7. Prohibited Use

You agree not to use the platform for:

Illegal or fraudulent activity
Harassment, abuse, or threats
Uploading malicious software, viruses, or spam
Misuse of personal or third-party data
Misrepresentation of identity or financial information

8. Suspension & Termination

Prosper Loans reserves the right to suspend or terminate access to the platform, without prior notice, if you violate these Terms or engage in fraudulent, abusive, or unlawful conduct.

9. Third-Party Services

The platform may include links to or connections with third-party websites, lenders, or service providers. Prosper Loans does not control or endorse these third parties and is not responsible for their content, policies, or practices.

10. Credit Information Authorization

By submitting an application, you authorize Prosper Loans and its lending partners to obtain and review your credit information from authorized credit bureaus, including Equifax, TransUnion, or other recognized agencies, where permitted by law. You may withdraw consent by contacting Prosper Loans support.

11. Limitation of Liability

Prosper Loans is not liable for indirect, incidental, or consequential damages arising from use of the platform. Loan approval, interest rates, terms, and funding timelines are determined solely by third-party lenders and are not guaranteed.

12. Indemnification

You agree to indemnify and hold harmless Prosper Loans, its affiliates, directors, officers, and employees from any claims, damages, or expenses arising from your misuse of the platform or violation of these Terms.

13. Cancellations & Fees

If you choose to cancel a loan application or agreement after documentation has been completed, certain administrative or processing fees may apply, subject to lender policies and applicable law. Any fees will be clearly disclosed prior to acceptance and are governed by the lender’s agreement. Prosper Loans does not impose penalties beyond those disclosed by participating lenders.

14. Credit Improvement Programs (If Applicable)

Prosper Loans may introduce applicants to optional credit improvement or financial education programs offered by third-party providers. Participation is voluntary, subject to eligibility, and governed by the provider’s terms. Prosper Loans does not guarantee specific credit score increases or loan approvals.

15. Governing Law

These Terms and Conditions are governed by the laws of Canada, with exclusive jurisdiction in the courts of Ontario, Canada.

16. GST & HST Compliance

Certain fees charged by third-party lenders or service providers may be subject to GST or HST, depending on provincial regulations. Applicable taxes and fees will be disclosed before confirmation of any agreement.