Terms & Conditions Agreement

Preamble

These Terms & Conditions explain how Honest Loan Broker assists Clients in applying for business financing, how information may be used or shared with lenders, and how Broker may be compensated. By submitting this form, Client confirms that they have authority to provide the information being submitted and understands that loan approvals, terms, rates, and decisions are solely determined by lenders. By proceeding, Client acknowledges and agrees to the Terms & Conditions set forth below.

1. Business Information & Parties

This Terms & Conditions and Authorization Agreement (“Agreement”) is entered into between Honest Financial Solutions LLC, dba Honest Loan Broker (“Broker”), and the individual and/or business entity submitting information, forms, or authorizations through Broker’s website, JotForm, or any written or electronic form (“Client”).

Broker is a Texas-registered limited liability company with a principal mailing address of: PO Box 2334, Universal City, Texas 78148.

Client understands that this Agreement applies whether Client is:

• an individual applying personally (including sole proprietors), or
• a business entity applying through an authorized representative.

For the purposes of this Agreement, the term “Client” shall mean whichever party is providing information for financing assistance and is acknowledging these Terms.

2. Scope of Services

2.1 Description of Services

Honest Financial Solutions LLC, doing business as Honest Loan Broker (“Broker”), acts as an independent commercial loan brokerage assisting small businesses and entrepreneurs in securing financing through banks, credit unions, online and fintech lenders, merchant cash advance providers, and other third-party funding sources (collectively, the “Lenders”). Broker may also provide related professional services including, but not limited to, loan packaging, credit repair, and financial consulting (collectively, the “Services”). These Services are provided for business or commercial purposes only and are not intended for personal, consumer, or residential mortgage use.

2.2 Loan Types Covered

Broker’s Services may include, but are not limited to, the facilitation or preparation of applications for the following categories of financing:

1. working capital loans and lines of credit;
2. SBA-backed loans;
3. equipment financing and leasing;
4. commercial real estate loans;
5. business acquisition loans;
6. asset-based loans;
7. merchant cash advances; and
8. any other business or commercial financing product determined suitable by the Broker and Client.

In certain cases, a Client may qualify for or obtain a personal loan used for business purposes. The Client expressly acknowledges and agrees that such transactions shall be considered commercial in nature for purposes of this Agreement and shall remain subject to these Terms and Conditions. Broker does not originate, process, or arrange loans intended primarily for personal, family, or household use, nor does Broker engage in residential mortgage lending.

2.3 Independent Broker Relationship

Broker is an independent intermediary and not a lender, underwriter, bank, credit decision-maker, or guarantor. Broker does not fund loans or make lending decisions. The approval, amount, terms, interest rates, and conditions of any loan are solely determined by the respective Lender, and Broker makes no representation or warranty that any financing will be approved or funded. All financing decisions rest exclusively with the Lender(s).

2.4 Client Responsibilities

Client agrees to provide complete and accurate information, cooperate with Broker and any referred third-party professionals (including, without limitation, accountants, CPAs, bookkeepers, insurance agents, or legal advisors), and promptly furnish any documents or authorizations reasonably requested to facilitate pre-qualification, underwriting, and funding. Client further agrees that Broker may communicate with such professionals and share or obtain relevant information as necessary to perform the Services.

3. Fees, Compensation, and Reimbursement Program

3.1 Lender-Paid Compensation

For standard commercial loan brokerage services, Broker shall be compensated exclusively by the Lender(s) with whom Broker maintains referral or partnership agreements. Such compensation may include referral fees, success fees, or volume-based incentives (collectively, “Lender Compensation”). Broker’s compensation is paid after a loan funds and does not increase the cost of credit or otherwise add to the fees paid by Client. Client acknowledges and agrees that Broker’s receipt of compensation from a Lender is a normal and customary practice in the commercial finance industry and does not create a conflict of interest. Broker shall have no obligation to disclose the specific dollar amount or percentage of compensation received from any particular transaction unless required by applicable law, though Broker may voluntarily disclose such information for transparency purposes.

3.2 Client-Paid Services

Broker may, in its sole discretion, charge fees directly to Client for optional services including, but not limited to, loan packaging, credit repair, or financial consulting (collectively, “Client-Paid Services”). These fees may vary based on the complexity, scope, and nature of the engagement and may be quoted to Client on a case-by-case basis. Unless otherwise stated in writing, such fees are non-recurring, not contingent upon loan approval or funding, and are fully earned once the service has been performed.

3.3 Optional Upfront Loan Packaging Fee

In limited circumstances, Broker may charge Client a one-time, upfront loan packaging fee, typically not to exceed $1,000, to cover time and administrative expenses related to the preparation of lender-ready documentation. If the Client’s loan subsequently funds and Broker receives Lender Compensation, Broker shall refund or credit the upfront fee against any compensation received, such that the Client does not incur duplicate charges.

3.4 Non-Circumvention

Client agrees that during the term of this Agreement and for a period of twelve (12) months thereafter, Client shall not circumvent Broker by directly applying to, negotiating with, or securing financing from any Lender, referral partner, or financial institution introduced or submitted by Broker without Broker’s written consent. Should Client obtain funding directly or indirectly from such a Lender or referral partner within this period, Broker shall be entitled to the same compensation it would have earned had the transaction been completed through Broker, and Client agrees to promptly pay such amount upon demand.

3.5 Commission Reimbursement Program

To reward continued business relationships, Broker offers a Commission Reimbursement Program, under which Broker may, at its sole discretion, refund a portion of its earned Lender Compensation to Client after the successful funding of a loan. Standard reimbursement tiers are:

• First funded loan: 10% reimbursement of Broker’s earned commission
• Second funded loan: 20% reimbursement of Broker’s earned commission
• Third and subsequent funded loans: 25% reimbursement of Broker’s earned commission

Reimbursements, if granted, are paid after Broker has received commission payment from the Lender and verified that the loan has fully funded and remained active for any applicable lender clawback period. Broker reserves the sole right and discretion to approve, deny, or modify any reimbursement offer on a case-by-case basis, without obligation or precedent.

3.6 Fee Disclosure and Client Acknowledgment

• (a) Broker’s primary source of income is Lender Compensation;
• (b) Client is not required to pay any separate brokerage fee for loan origination services unless explicitly agreed in writing;
• (c) any optional service fees or reimbursements are at Broker’s discretion; and
• (d) Broker’s compensation structure does not influence loan approval decisions or guarantee loan funding.

4. Authorizations and Consents

4.1 Loan Application Submission and Representation

Client hereby authorizes Honest Financial Solutions LLC (d/b/a Honest Loan Broker) (“Broker”) to act as Client’s authorized representative for the limited purpose of preparing, signing, and submitting loan applications and related documentation to prospective lenders, funding partners, and referral affiliates (“Lenders”). Broker may complete and transmit applications on Client’s behalf using information provided by Client and Client’s authorized representatives. Broker’s authority under this section extends solely to facilitating the application and prequalification process and shall not constitute a grant of general agency authority. Client agrees that Broker’s execution of any document on Client’s behalf shall have the same force and effect as if executed directly by Client.

4.2 Credit Inquiry Authorization

Client authorizes Broker, and any Lenders to whom Broker submits Client’s information, to obtain and review soft or hard credit inquiries on the Client’s business and, where applicable, on Client’s principals or guarantors. Client acknowledges that: (a) hard credit pulls may affect individual or business credit scores; (b) Lenders determine whether a soft or hard pull is required; and (c) such credit inquiries are standard practice for loan prequalification and underwriting purposes. Broker may, at its discretion in the future, obtain credit information directly through a registered credit reporting vendor or bureau as part of the prequalification process. This authorization shall remain valid for the duration of the Client’s relationship with Broker and any subsequent loan reviews, renewals, or refinancings.

4.3 Authorization to Communicate with Third-Party Professionals

Client authorizes Broker to communicate with, and obtain or share relevant business or financial information from, Client’s designated accountant(s), CPA(s), bookkeeper(s), insurance agent(s), or other financial or legal representatives as reasonably necessary to perform the Services. Client acknowledges that such communications may include the exchange of sensitive business, tax, or financial data, and grants Broker permission to use secure methods (including encrypted email or document portals) for this purpose.

4.4 Documentation and Data Sharing Consent

Client authorizes Broker to collect, store, and transmit documentation including but not limited to financial statements, tax returns, bank statements, insurance declarations, business licenses, and identification records to potential Lenders or funding partners for evaluation and underwriting. Broker may also share such information with affiliated service providers or referral partners when reasonably necessary to perform the Services.

4.5 Electronic Communication and Signature Consent

Client consents to the use of electronic records, digital communications, and electronic signatures in connection with this Agreement and all related loan application documents. Client agrees that checking an acknowledgment box, typing a name, or using any electronic signature method constitutes a valid, binding signature under the U.S. Electronic Signatures in Global and National Commerce Act (E-SIGN).

4.6 Recordkeeping and Data Retention

Client authorizes Broker to retain copies of all documentation, communications, and related information submitted or obtained in connection with Services provided under this Agreement. Such records may be maintained electronically for compliance, audit, or customer service purposes and will be handled in accordance with Broker’s data-security and privacy practices.

4.7 Client Acknowledgments

• (a) authorization for credit inquiries and document sharing is voluntary but necessary for loan prequalification and funding;
• (b) credit inquiries may temporarily affect personal or business credit scores;
• (c) Broker does not guarantee loan approval or funding;
• (d) Broker is not responsible for the actions, errors, or omissions of Lenders or third-party professionals; and
• (e) Broker’s role is limited to facilitating the Client’s financing request as a third-party intermediary.

5. Client Representations & Acknowledgements

5.1 Accuracy of Information

Client represents and warrants that all information, documents, and statements provided to Broker, any Lender, or any third-party professional are true, complete, and accurate to the best of Client’s knowledge. Client agrees to promptly notify Broker of any material change in such information during the term of this Agreement or while any loan application remains pending.

5.2 Independent Advisors

Client acknowledges that Broker does not provide legal, tax, or accounting advice, and that Client has been advised to consult with its own attorney, accountant, or other qualified advisor regarding all legal, tax, financial, or compliance matters related to any proposed financing.

5.3 No Guarantee of Outcome

Client acknowledges and agrees that Broker makes no promise or guarantee as to the approval, amount, terms, interest rate, or funding of any financing, and that any decision to extend credit rests solely with the Lender.

5.4 Responsibility for Third-Party Professionals

Client acknowledges that any accountant, CPA, bookkeeper, insurance agent, or other professional engaged by Client is independent of Broker, and Broker is not responsible for their actions, advice, or omissions.

5.5 Lender Fees and Costs

Client understands and agrees that Lenders may impose fees or costs (such as appraisal, underwriting, origination, or closing fees) that are outside Broker’s control, and Broker shall not be responsible for such costs unless expressly agreed in writing.

5.6 Disclosure of Potential Conflicts of Interest

Client acknowledges that Broker may receive compensation or incentives from certain Lenders and that such relationships may influence which financing options are presented. Client consents to Broker’s compensation structure and confirms understanding that Broker’s referral compensation does not increase the Client’s cost of credit.

5.7 Credit Inquiry Impact

Client acknowledges that Lenders may perform multiple soft or hard credit pulls during the loan process, that such inquiries may appear on Client’s credit reports, and that Broker cannot control or prevent Lenders from conducting additional credit checks.

5.8 Record Retention and Audit Consent

Client consents to Broker maintaining copies of submitted documentation and communications for compliance, audit, and recordkeeping purposes, even after the termination or expiration of this Agreement.

5.9 Electronic Delivery and Communication

Client consents to receive all notices, disclosures, agreements, and confirmations electronically via email, secure portal, or other digital means. Electronic delivery shall satisfy any legal requirement for written notice.

5.10 Survival of Obligations

Client agrees that obligations concerning confidentiality, indemnification, compensation, and the accuracy of representations shall survive termination or expiration of this Agreement.

5.11 Authority to Bind Business Entity or Individual

If Client is submitting information on behalf of a business entity or individual, Client represents and warrants that Client is duly authorized to execute this Agreement, provide information to Broker, and request financing on behalf of such entity or individual. Client agrees that Broker may rely on this representation without independent verification.

5.12 Responsibility for Unauthorized or Fraudulent Submissions

Client acknowledges and agrees that Broker shall not be liable for any damages, losses, claims, or liabilities arising out of (a) Client’s lack of actual authority to act on behalf of a business entity or individual, or (b) the submission of information, documents, or data that are false, fraudulent, stolen, or provided without lawful right or consent. Client agrees to indemnify and hold Broker harmless from any damages, losses, fees, or expenses arising out of such unauthorized or fraudulent submissions.

6. Confidential Information, Privacy & Data Security

6.1 Confidential Information

For purposes of this Agreement, “Confidential Information” includes all non-public business, financial, tax, banking, identification, credit, underwriting, and other personal or business data provided by Client to Broker, or obtained by Broker on Client’s behalf, in connection with the Services. Broker agrees to maintain the confidentiality of Confidential Information and to use commercially reasonable efforts to safeguard such data against unauthorized access, disclosure, or misuse.

6.2 Permitted Use and Sharing of Information

• lenders and funding partners for the purpose of prequalification, underwriting, and funding;
• third-party professionals (including but not limited to accountants, CPAs, bookkeepers, insurance agents, or legal representatives) as reasonably necessary to perform the Services; and
• Broker’s internal employees, contractors, or service vendors who require access to perform operational tasks.

Broker will not sell, lease, or disclose Confidential Information to unrelated third parties except as necessary to provide the Services, comply with law, or respond to law enforcement or regulatory inquiries.

6.3 Data Collection, Storage & Retention

Broker may collect, store, and retain Confidential Information in electronic form through secure systems, platforms, encrypted portals, and cloud-based infrastructure. Broker may retain such information for recordkeeping, audit, underwriting traceability, fraud prevention, and compliance purposes—even after termination of this Agreement—consistent with Section 5.10.

6.4 Legally Required Disclosures

Broker may disclose Confidential Information if required to do so by:

• subpoena,
• court order,
• regulatory authority,
• governmental request, or
• as required to comply with applicable federal or state law.

Broker shall have no liability for disclosures made in compliance with lawful legal process.

6.5 No Liability for Third-Party Security

Client acknowledges and agrees that once Confidential Information is transferred to a lender, financial institution, or third-party professional, Broker cannot control—and is not responsible for—the security protocols, data handling practices, or breach events of such third parties. Client agrees that Broker is not liable for any damages or losses arising out of a data breach, cyberattack, or unauthorized access that occurs within systems maintained by lenders, banks, financial institutions, service providers, or other third parties. Broker shall not be liable for any damages, losses, claims, or liabilities arising out of any such events, whether such event occurs within Broker’s own systems or within third-party systems, provided Broker utilizes commercially reasonable security practices.

6.6 Standard of Care

Broker will exercise commercially reasonable efforts consistent with common industry practice in the commercial loan brokerage industry to protect Client data. Broker does not guarantee or warrant:

• that data systems will be error-free or hack-proof,
• uninterrupted access, or
• immunity from cyber-security incidents.

Broker will notify Client of any known or reasonably suspected unauthorized access to Confidential Information under Broker’s direct administrative control in accordance with applicable law.

6.7 Data Transmission Risk and Cybersecurity Limitation

Client acknowledges that the transmission of documents or information via email, SMS/text, cloud storage links, or other electronic means may involve risk of interception or unauthorized access. Client accepts such risk and agrees that Broker shall not be liable for any loss, interception, corruption, or unauthorized access of data transmitted by or to Client through such means. Broker shall use commercially reasonable industry standards to protect and secure Confidential Information under Broker’s control; however, Broker does not guarantee or warrant that Broker’s systems, networks, hardware, devices, cloud storage platforms, or communication tools will be free from cyberattacks, malware, intrusion, hacking, unauthorized access, or security breaches. Broker shall not be liable for any damages, losses, claims, or liabilities arising out of any such events, whether such event occurs within Broker’s own systems or within third-party systems, provided Broker utilizes commercially reasonable security practices.

7. Limitation of Liability and Indemnification

7.1 Limitation of Liability

To the maximum extent permitted by applicable law, Broker shall not be liable to Client for any indirect, incidental, consequential, punitive, exemplary, special, or lost-profit damages arising out of or related to this Agreement, the Services, the actions of any Lender, or any financing transaction contemplated herein. Broker’s total cumulative liability to Client for any claim, action, loss, damage, expense, or cause of action arising out of or relating to this Agreement—regardless of whether the claim sounds in contract, tort, negligence, statute, equity, or otherwise—shall be strictly limited to the total dollar amount of fees actually paid by Client directly to Broker under this Agreement, which Client acknowledges may be zero (0) in most circumstances.

7.2 No Liability for Lender Actions

Broker shall not be liable for: (a) any decision by any Lender to approve, deny, condition, modify, delay, or withdraw financing; (b) the acts, omissions, errors, negligence, underwriting decisions, or funding delays of any Lender or third-party professional; or (c) any fees, costs, or expenses charged by any Lender or third party.

7.3 Client Indemnification

Client agrees to indemnify, defend, and hold harmless Broker and its owners, employees, agents, and contractors from and against any and all losses, liabilities, damages, costs, expenses, claims, causes of action, legal fees, or demands (including those asserted by any Lender, governmental authority, bank, or third party) to the extent arising out of or related to: (a) Client’s acts, omissions, or failure to perform obligations; (b) Client’s breach of this Agreement; (c) any inaccurate, incomplete, or misleading information provided by Client; (d) misuse of loan proceeds; or (e) violation of applicable law by Client. Client’s indemnification obligations shall survive termination or expiration of this Agreement.

7.4 Attorney’s Fees for Enforcement (Broker Only)

If Broker is required to enforce its rights under this Agreement, including but not limited to enforcement of non-circumvention or indemnification, Broker shall be entitled to recover its reasonable attorney’s fees, court costs, and collection expenses from Client in addition to any other relief available under law.

8. Term, Termination, and Survival

8.1 Effective Date

This Agreement becomes effective immediately upon Client checking the acknowledgment box, typing an electronic signature, clicking “I Agree,” or submitting the form through Broker’s website or electronic platform.

8.2 Term

This Agreement shall remain in effect until terminated in accordance with this Section.

8.3 Termination Rights

Either party may terminate this Agreement at any time by providing written notice (including email) to the other party.

8.4 Effect of Termination

Termination of this Agreement shall not:

1. nullify, waive, or discharge Broker’s right to compensation in connection with any financing transaction involving any Lender, referral partner, or funding source to which Client was introduced by Broker prior to termination;
2. eliminate Client’s obligations under Section 3.4 (Non-Circumvention)—which shall continue in full force for the full twelve (12) month period specified in that Section, regardless of termination;
3. affect Broker’s right to receive Commission Reimbursements (if applicable) after funding of any such transaction; or
4. eliminate or impact any indemnification, confidentiality, data retention, or limitation of liability provisions, all of which shall survive termination in full force.

8.5 Continuing Loan Activity After Termination

Client acknowledges that if Client terminates this Agreement but subsequently proceeds directly or indirectly with any Lender, referral partner, or funding source previously introduced by Broker, Client remains obligated to Broker for all compensation that would have otherwise been earned by Broker as if the transaction had closed through Broker.

8.6 Survival of Certain Provisions

The provisions relating to non-circumvention, confidentiality, indemnification, limitation of liability, compensation rights, and any representations made by Client shall survive termination or expiration of this Agreement.

9. Governing Law, Venue, and Dispute Resolution

9.1 Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of Texas, without regard to its conflicts-of-law principles.

9.2 Binding Arbitration

Any dispute, claim, or controversy arising out of or relating to this Agreement, the Services, or any financing application or transaction contemplated hereunder, shall be resolved by binding arbitration administered by the American Arbitration Association (AAA) or another recognized arbitration body mutually agreed by the parties. Arbitration shall be conducted by a single arbitrator with experience in commercial finance or business lending.

9.3 Venue and Seat of Arbitration

The seat, venue, and location for arbitration and for any judicial proceeding to enforce or confirm any arbitration award shall be Bexar County, Texas. The arbitrator shall have authority to award all remedies available at law or in equity, except that punitive damages and consequential damages shall be excluded to the maximum extent permitted by law.

9.4 Waiver of Jury Trial

The parties knowingly and voluntarily waive any right to a trial by jury in any action relating to this Agreement.

10. General Provisions

10.1 Independent Contractor Status

Broker is an independent contractor and not an employee, partner, joint venturer, fiduciary, or agent of Client. Nothing contained in this Agreement shall be construed to create any employer-employee relationship, partnership, joint venture, or other legal association between the parties.

10.2 No Assignment by Client

Client may not assign, delegate, transfer, or otherwise convey any of its rights or obligations under this Agreement without Broker’s prior written consent. Broker may assign this Agreement to a successor entity, affiliate, or related business without Client’s consent.

10.3 Notices

All notices under this Agreement shall be in writing and may be delivered by email, electronic message, or electronically generated system notification. Email notice shall be deemed effective upon transmission.

10.4 Severability

If any provision of this Agreement is held to be invalid, illegal, or unenforceable, the remaining provisions shall remain valid and enforceable to the maximum extent permitted by law. Any invalid provision shall be modified only to the minimum extent necessary to make it valid.

10.5 Waiver

No waiver of any provision of this Agreement shall be effective unless in writing. Failure to enforce any provision shall not constitute a waiver of that provision or any other provision.

10.6 Force Majeure

Broker shall not be liable for any failure or delay in performance caused by circumstances beyond its reasonable control, including without limitation: acts of God, natural disaster, war, pandemic, government action, technology outages, cyberattacks, vendor failure, or labor disruptions.

10.7 Headings

Section headings are included for convenience only and shall not affect interpretation of this Agreement.

10.8 No Third-Party Beneficiaries

This Agreement is solely between Broker and Client. No lender, bank, underwriter, funding partner, service provider, referral partner, or other third party shall have any rights or claims under this Agreement.

10.9 Interpretation

No presumption or rule construing ambiguities against the drafter shall apply to the interpretation of this Agreement. Both parties acknowledge that this Agreement has been negotiated, reviewed, and entered into voluntarily.

10.10 Counterparts / Electronic Execution

This Agreement may be executed by electronic signature and/or in multiple counterparts, each of which shall be deemed an original and all of which together shall constitute a single binding agreement.

11. Entire Agreement; Amendments

This Agreement constitutes the entire agreement between Broker and Client regarding the subject matter herein, and supersedes all prior or contemporaneous verbal statements, representations, proposals, discussions, negotiations, understandings, or agreements, whether written or oral. No amendment, modification, waiver, or change to this Agreement shall be valid or binding unless it is in writing and signed by both Broker and Client. No verbal statements, prior communications, emails, phone conversations, text messages, or informal discussions shall constitute an amendment or modification of this Agreement.

Client acknowledges that they have had an opportunity to review this Agreement, to ask questions, and to consult with independent legal or financial advisers before agreeing to these terms.