MobiLoansTerms of Service

1. Acceptance of terms

Welcome to MobiLoans. By accessing or using our website, application, or services, you agree to be bound by these Terms of Service ("Terms") and our Privacy Policy. If you don't agree, please don't use our services.

You must be at least 18 years old (19 in Alabama, 21 in Mississippi) and a US resident to use MobiLoans.

2. Our services

MobiLoans is a financial technology company that facilitates loans originated by our partner banks (Cross River Bank and WebBank, both Members FDIC). We are not a bank ourselves.

We offer three loan products:

• Cash Advance: Short-term advances of up to $1,000 against your next paycheck
• Personal Loan: Installment loans of $1,000–$25,000 with terms of 12–60 months
• Credit Builder: Secured installment loans designed to help you build credit history

3. Eligibility

To apply for any MobiLoans product, you must:

• Be at least 18 years old (19 in AL, 21 in MS)
• Be a US citizen, permanent resident, or have a valid visa
• Have verifiable income of at least $1,000/month
• Have an active US bank account (not a prepaid card)
• Have a valid government-issued photo ID
• Reside in one of our supported states (48 states, excluding NV and CT)

Meeting these requirements does not guarantee approval. All loans are subject to underwriting and creditworthiness assessment.

4. Application and approval

When you apply, you authorize us to verify the information you provide, pull a soft credit report (initially), and contact references if needed. If approved, you'll receive a loan offer with the specific terms (amount, APR, fees, repayment schedule).

Accepting an offer triggers a hard credit pull, which may temporarily affect your credit score by a few points.

5. Repayment obligations

You agree to repay your loan according to the schedule provided. Specifically:

• Cash Advance: Repaid in full on your next payday via automatic debit
• Personal Loan: Monthly installments via automatic ACH debit
• Credit Builder: Monthly installments held in a secured savings account

You can pay off any loan early with no penalty. Failed payments may result in additional bank fees from your bank (not from us). We never charge late fees.

6. Fees and rates

We are transparent about all costs:

• Cash Advance: 0% interest if paid on time. Optional tips only.
• Personal Loan APR: 8.99% to 35.99% based on your creditworthiness
• Origination fee: $0 (we don't charge any)
• Prepayment penalty: $0 (we don't charge any)
• Late fees: $0 (we don't charge any)
• Monthly maintenance fee: $0 (we don't charge any)

7. Hardship and forbearance

Life happens. If you're unable to make a payment due to job loss, medical emergency, or other hardship, contact us. We offer:

• Up to 90 days of paused payments at no cost
• Extended repayment terms with adjusted monthly amounts
• One-time payment deferral (move a missed payment to the end of the schedule)

Just call 1-844-555-0142 or message us through your account dashboard. We don't ask for documentation — your word is enough.

8. Prohibited uses

You may not use our services to:

• Engage in any unlawful activity
• Provide false information on your application
• Use loan funds for illegal purposes
• Attempt to circumvent our security measures
• Resell or transfer your loan to third parties

9. Termination

You may close your account at any time once any outstanding balance is paid in full. We may terminate or suspend your account if we suspect fraud, you violate these Terms, or we're required to by law. Existing loan obligations remain enforceable even if your account is closed.

10. Disputes and arbitration

Most disputes can be resolved by contacting our support team. If we can't resolve it, you agree to first attempt mediation. If mediation fails, disputes will be resolved through binding arbitration (you have the right to opt out of arbitration within 30 days of agreeing to these Terms by emailing [email protected]).

You can also file a complaint with the Consumer Financial Protection Bureau (CFPB) at any time.

11. Limitation of liability

To the maximum extent permitted by law, MobiLoans Inc. and its officers, directors, employees, and partners are not liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of our services.

12. Changes to terms

We may update these Terms occasionally. Material changes will be communicated at least 30 days before they take effect via email and account dashboard notification. Continued use after the effective date constitutes acceptance.

13. Contact

Questions about these Terms? Reach out:

• Email: [email protected]
• Mail: MobiLoans Inc., 200 Brickell Avenue, Suite 1500, Miami, FL 33131
• Phone: 1-844-555-0142