Terms of Service

Last updated: July 2026

1. Acceptance of Terms

By accessing or using LoanLoop ("the Service"), you agree to be bound by these Terms of Service. If you do not agree, please do not use the Service.

2. Description of Service

LoanLoop is a software platform that provides tools for private lenders and borrowers to track loans, generate amortization schedules, organize payment records, and send automated payment reminders. Lenders collect payments directly from borrowers outside the platform and record those payments in LoanLoop for tracking and record-keeping purposes. LoanLoop is not a bank, lender, loan servicer, or financial institution. We do not originate, fund, service, collect, hold, route, or transmit loan payments.

3. Not Financial Advice

Nothing on LoanLoop constitutes financial, legal, or tax advice. All financial decisions are made solely by you. We strongly recommend consulting a licensed financial advisor, attorney, or tax professional before entering into any loan agreement.

4. User Accounts

  • You are responsible for maintaining the confidentiality of your account credentials.
  • You agree to provide accurate information when creating your account.
  • You must be at least 18 years old to use this Service.

5. Lender Responsibilities

  • Lenders are solely responsible for the terms of any loan they create, including interest rates, payment schedules, and late fees.
  • Lenders are solely responsible for ensuring their interest rates comply with applicable state usury laws.
  • Lenders are responsible for ensuring all lending activities comply with applicable federal, state, and local laws including, without limitation, the Dodd-Frank Act where applicable.
  • Lenders configuring prepayment penalties acknowledge that such penalties may be restricted or prohibited under applicable state or federal law, and accept full responsibility for the legality and enforceability of such terms.

6. Borrower Responsibilities

  • Borrowers are solely responsible for fulfilling their payment obligations as agreed with their lender. LoanLoop does not collect, process, or transmit payments on behalf of borrowers or lenders.
  • Borrowers are responsible for the accuracy of any information they provide or confirm within the platform, including personal details and payment acknowledgments.
  • LoanLoop is not responsible for any disputes between lenders and borrowers.

7. Disputes Between Lenders and Borrowers

LoanLoop is not responsible for mediating, arbitrating, or resolving any disputes between lenders and borrowers. All disputes between lenders and borrowers are to be handled directly between the parties involved.

8. Disputes with LoanLoop; Binding Arbitration and Class Action Waiver

Please read this section carefully. It affects your legal rights, including your right to file a lawsuit in court and to have a jury hear your claims.

Informal resolution first. Before filing any claim against LoanLoop, you agree to contact us at hello@loanloop.app and attempt in good faith to resolve the dispute informally for at least thirty (30) days.

Binding arbitration. If we cannot resolve a dispute informally, you and LoanLoop agree that any dispute, claim, or controversy arising out of or relating to these Terms or the Service will be resolved by binding individual arbitration administered by the American Arbitration Association ("AAA") under its Consumer Arbitration Rules. The arbitration will be conducted in Clark County, Nevada, or remotely by video or telephone at your election. Judgment on the arbitration award may be entered in any court of competent jurisdiction.

Exceptions. Either party may (a) bring an individual claim in small claims court, or (b) seek injunctive or other equitable relief in a court of competent jurisdiction to protect its intellectual property rights or to address unauthorized access to or abuse of the Service.

Class action waiver. You and LoanLoop each agree that any proceeding will be conducted only on an individual basis and not as a class, consolidated, or representative action. Neither party may participate in a class action or class-wide arbitration for any claim covered by this section.

Jury trial waiver. To the extent any claim proceeds in court rather than arbitration, you and LoanLoop each waive the right to a trial by jury.

Opt-out. You may opt out of this arbitration agreement and class action waiver by emailing hello@loanloop.app within thirty (30) days of first accepting these Terms, stating your name, account email, and your intent to opt out. Opting out does not affect any other provision of these Terms.

9. Subscription Billing

LoanLoop uses Stripe solely to process subscription payments made by lenders for their LoanLoop plan (Free, Lender, or Pro). Stripe does not process, route, hold, or transmit any loan payments between lenders and borrowers. LoanLoop does not collect, hold, route, or transmit loan payments at any time. By subscribing to a paid LoanLoop plan, you agree to Stripe's Terms of Service for subscription billing purposes only. LoanLoop does not store or have access to your payment card information.

10. Tax Forms

LoanLoop does not issue IRS tax forms including 1099-INT or any other official tax documents. Year-end income summaries are provided for informational and organizational purposes only and are not a substitute for official tax forms. Users are solely responsible for reporting all income to the appropriate tax authorities.

11. Limitation of Liability

To the fullest extent permitted by applicable law, LoanLoop shall not be liable for any indirect, incidental, special, or consequential damages arising from your use of the Service. Our total liability shall not exceed the amount you paid us in the three months preceding the claim. Some jurisdictions do not allow the exclusion or limitation of certain damages; in those jurisdictions, our liability is limited to the fullest extent permitted by law. Nothing in these Terms excludes or limits any liability that cannot lawfully be excluded or limited.

12. Geographic Scope

LoanLoop is intended for use solely by individuals and businesses located in the United States. LoanLoop is designed around United States lending practices and does not account for the laws, regulations, tax rules, or data protection requirements of other countries. By using LoanLoop, you represent that you are located in and operating within the United States. LoanLoop is not intended for use outside the United States, and we make no representation that the service is appropriate or available for use in other locations. Any access to the Service from outside the United States is incidental and at the user's own initiative and risk.

13. Termination

We reserve the right to suspend or terminate your account at any time for violation of these terms.

14. Changes to Terms

We may update these terms at any time. Continued use of the Service after changes constitutes acceptance of the new terms.

15. Severability

If any provision of these Terms is held invalid or unenforceable, that provision will be enforced to the maximum extent permissible, and the remaining provisions will remain in full force and effect. If the class action waiver in Section 8 is found unenforceable as to a particular claim, that claim — and only that claim — will proceed in court rather than arbitration, and the waiver will remain enforceable as to all other claims.

16. Governing Law

These terms are governed by the laws of the State of Nevada, without regard to conflict of law principles.

17. Contact

For questions about these terms, contact us at hello@loanloop.app