Terms of Service

• Credit Base is a loan-matching platform that connects registered Nigerian businesses with licensed lenders. A business applies once, lenders may make offers, and the business chooses whether to accept one.
• We are not a lender. We do not lend money, hold or move funds, make credit decisions, or guarantee that any application will receive an offer or a loan.
• We do not give advice. We show offers and their full cost. We do not recommend any offer, lender or borrower, and nothing on Credit Base is financial, legal or tax advice.
• Any loan is a separate contract between the business and the lender. We are not a party to it and are not responsible for either side’s performance.

• Businesses: companies and business names registered in Nigeria with the Corporate Affairs Commission, acting through an owner, director or other authorised person aged 18 or over. Credit Base currently supports business loans.
• Lenders: institutions licensed or otherwise legally permitted to lend in Nigeria (for example microfinance banks, finance companies, commercial banks and licensed digital lenders), invited and verified by us. A lender must tell us at once if its licence is suspended, restricted or withdrawn.

• Give accurate information and keep it up to date.
• Keep your password and login codes secret. You are responsible for activity under your account; tell us immediately at support@thecreditbase.com if you think someone else has access.
• One person per account. Lenders must give each team member their own account and remove access when someone leaves.

• It is free. Credit Base is free for businesses. Our service is funded by our lending partners, and this never affects which lenders see your application or how offers are shown to you.
• Be truthful. You confirm that the information and documents you provide are genuine, complete and unaltered, and that you have the right to share them, including the details of your directors. Submitting false or altered documents is a serious breach and may be reported to the lender concerned and to the authorities.
• Your consent. Before an application is submitted we ask for your explicit consent, separately from these terms, to share it with matched licensed lenders. You can withdraw that consent at any time before you accept an offer; doing so cancels the application.
• One application at a time. A business may have one open application at a time.
• Offers. Offers are made by lenders, not by us. We show the full cost of each offer from the terms the lender enters, but the binding terms are those in the loan agreement you sign with the lender. Check them before you sign. Offers expire on the date shown.
• Accepting an offer. When you accept an offer your other offers close, and the lender you chose receives your contact details and your directors’ BVNs so that it can complete its own checks. Accepting an offer on Credit Base is not a guarantee that the lender will disburse.
• Deal fairly. If a lender you met through Credit Base disburses a loan to you, do not help it avoid recording that loan on Credit Base.

• Licence. You confirm that you hold, and will keep, every licence and approval required to lend to Nigerian businesses, and that you will comply with the law that applies to you, including consumer protection and data protection law. We check licences at onboarding and periodically, and may suspend a lender at any time.
• Use of applications. Applications and the information in them are confidential. You may use them only to assess the application they relate to and, if your offer is accepted, to complete that loan. You must not use them for marketing, share them outside your organisation, or contact a business outside Credit Base before it accepts your offer. You are an independent controller of the personal data you receive and must protect it accordingly.
• Offers. Offers must be genuine, accurate and include every fee and charge. We calculate and display the total cost from the terms you enter.
• Your decisions. You alone decide whether to lend and on what terms. The information we provide about an application is not a recommendation, a credit score or a guarantee, and you must carry out your own checks.
• Success fee. You pay us a success fee on every loan you disburse to a business introduced through Credit Base, at the rate agreed with your organisation and shown in your organisation settings. You pay nothing for applications you decline or offers that are not accepted. We will give you at least 30 days’ notice before changing your rate, and a change applies only to loans disbursed after it takes effect.
• Reporting and payment. You must mark each such loan as disbursed on Credit Base, with the correct amount and date, within 5 working days of disbursing it. We invoice monthly; invoices are payable by bank transfer within 14 days. The fee is due on any loan to an introduced business disbursed within 12 months of the introduction, whether or not it was recorded on Credit Base.

• Use Credit Base for anything unlawful, fraudulent or misleading.
• Access data or accounts you are not entitled to, or try to get around security or access controls.
• Copy, scrape or resell the platform or the data in it.
• Upload malicious files or disrupt the service.

Information shown on Credit Base, including summaries of an application, is prepared from what users provide. We take care to make it accurate, but it may contain errors or omissions, and it is not a substitute for your own judgement or checks.

• You can stop using Credit Base at any time and ask us to close your account by emailing support@thecreditbase.com.
• We may suspend or close an account, or withdraw an application, if these terms are breached, if we suspect fraud or misuse, if a lender is no longer licensed, or if the law requires it.
• Closing an account does not cancel fees already due, or obligations of confidentiality.

• We provide Credit Base with reasonable care and skill, but we do not promise that it will be uninterrupted or error-free, that any application will be matched or funded, or that any business will repay.
• We are not responsible for the acts or omissions of businesses or lenders, for the terms or performance of any loan, or for losses caused by information that a user provided.
• To the extent the law allows, we are not liable for indirect or consequential loss, or for loss of profit, revenue or business.
• For lenders, our total liability is limited to the success fees that lender paid us in the 12 months before the claim arose.
• Nothing in these terms limits liability that cannot be limited by law, including for fraud, or takes away rights you have under Nigerian consumer protection or data protection law.

We may update these terms. If a change is significant we will tell you by email or on the platform before it takes effect. If you keep using Credit Base after that, you accept the updated terms. The version and date are shown at the top of this page.

These terms are governed by the laws of the Federal Republic of Nigeria. Please contact us first at support@thecreditbase.com so that we can try to resolve any dispute. If we cannot, the courts of Lagos State, Nigeria have jurisdiction.

Horixong Innovations Limited, 8 Adebisi Oderinde, Berger, Lagos, Nigeria. Email: support@thecreditbase.com.