Engagement Letter
This Engagement Letter (“Agreement”) is entered into by and between BNB Financial Academy, LLC (“BNB,” “Advisor,” or “Consultant”) and the undersigned client (“Client”) for the purpose of providing funding consultation and loan application assistance.
1. PURPOSE OF ENGAGEMENT
BNB Financial Academy agrees to assist the Client in identifying, applying for, and securing personal and/or business funding opportunities through BNB’s approved network of lenders, partners, and funding programs. This service includes credit review, application guidance, lender matching, and funding support.
2. CLIENT RESPONSIBILITIES
The Client agrees to:
Provide complete and accurate financial and personal information.
Cooperate in a timely manner with any documentation requests.
Use any funding obtained for lawful business or personal purposes.
Communicate promptly with BNB throughout the funding process.
3. COMPENSATION AND FEES
A. Success-Based Fee Structure
If the Client is approved for a direct-to-consumer loan or funding offer, BNB Financial Academy shall be entitled to a 20% success fee of the total approved funding amount up to $50,000.
For any approved funding over $50,000, or where additional assistance is required from BNB to secure the approval (including credit improvement, document correction, or lender negotiation), the success fee shall increase to 30% of the total approved loan amount.
All success fees are due and payable immediately upon loan funding.
B. Invoice and Payment Obligation
For direct-to-consumer loan approvals, BNB Financial Academy will issue an invoice to the Client for the applicable success fee based on the total funded amount.
By signing this Agreement, the Client expressly agrees and acknowledges that:
Payment of the invoice is due the same day the loan is funded to the Client’s account.
This Agreement constitutes a binding promise to pay BNB Financial Academy the full amount of fees owed under this Agreement upon loan disbursement.
The Client authorizes BNB Financial Academy to pursue collection for any unpaid balance, including, but not limited to, referral to a collections agency or legal action to enforce payment.
The Client further acknowledges that failure to pay may result in reporting to credit bureaus and additional administrative or legal fees, as permitted by law.
This clause shall survive loan disbursement and remains enforceable until payment is received in full.
4. REFUNDABLE DEPOSIT
A refundable deposit of $250 is required prior to beginning any funding work.
This deposit will be applied toward the success fee once funding is approved.
If BNB Financial Academy is unable to secure any funding offers, the Client may choose to:
(a) Apply the deposit toward the BNB Credit Refresher Program, or
(b) Request a refund of the $250 deposit, which will be processed within 7–10 business days of written notice.
If the Client withdraws, provides incomplete documentation, or becomes unresponsive after services have commenced, the deposit will be forfeited to cover administrative time and resource costs.
5. NON-CIRCUMVENTION & CONFIDENTIALITY
The Client agrees not to bypass or directly engage with BNB’s funding partners or lenders without BNB’s written consent. All proprietary systems, strategies, and partner relationships remain confidential and are the intellectual property of BNB Financial Academy.
6. NO GUARANTEE OF FUNDING
BNB Financial Academy does not guarantee approval, loan amount, or specific funding terms. Funding decisions are made solely by independent lenders and are subject to their underwriting criteria.
7. PROMISE TO PAY
By signing this Agreement, the Client acknowledges and agrees that:
This Agreement represents a legally binding promise to pay for services rendered upon loan approval and funding.
The Client’s acceptance of any loan or funding proceeds serves as acknowledgment that BNB Financial Academy has fulfilled its obligations under this Agreement.
The Client agrees to remit full payment of the applicable success fee to BNB Financial Academy on the same day funds are received from the lender.
Any delay or refusal to pay constitutes a breach of contract and may result in enforcement of this Agreement through all legal means available, including small claims, civil court, or arbitration.
8. PAYMENT AUTHORIZATION
The Client authorizes BNB Financial Academy to collect payment for all applicable fees through invoicing, payment link, wire transfer, Zelle, or other approved payment methods. If unpaid after 72 hours of loan funding, the balance shall accrue a late fee of 5% per day until paid in full.
9. TERMINATION
Either party may terminate this Agreement before services begin. Once the funding process has started, deposits are non-refundable except as stated in Section 4.
10. GOVERNING LAW & DISPUTE RESOLUTION
This Agreement shall be governed by the laws of the State of Texas. Any dispute or claim shall be resolved first through binding mediation in Dallas County, Texas, and, if unresolved, through arbitration or civil court under Texas jurisdiction.
11. ENTIRE AGREEMENT
This Agreement represents the full understanding between the Client and BNB Financial Academy. No oral promises or outside representations shall modify the terms herein unless made in writing and signed by both parties.
12. ACKNOWLEDGMENT
By signing below, the Client confirms understanding and acceptance of all terms of this Engagement Letter and authorizes BNB Financial Academy to proceed with consultation and application services. I agree to the processing and enrichment of my information, including a soft credit pull for pre-qualification purposes, as described in the applicable Terms of Service. This process does not affect your credit score.