Terms of Service

1. Introduction & Definitions

These Terms of Service ("Terms") govern your use of the Microlender.PH website and all related loan products and services provided by Social Ventures Association, a nonprofit social enterprise registered with the Securities and Exchange Commission (SEC) of the Republic of the Philippines, doing business as "Microlender.PH."

By accessing our website, submitting a loan application, or entering into a loan agreement with us, you acknowledge that you have read, understood, and agree to be bound by these Terms.

Key Definitions

• "We," "Us," "Our" — Social Ventures Association, operating as Microlender.PH.
• "You," "Your," "Borrower" — Any individual who accesses our website, applies for a loan, or enters into a loan agreement with us.
• "Loan" — Any credit facility extended by Microlender.PH to a qualified borrower under these Terms.
• "Platform" — The Microlender.PH website, including all related digital tools, forms, and communication channels.
• "Disclosure Statement" — The document required under Republic Act No. 3765 (Truth in Lending Act) that itemizes all loan terms, charges, and conditions prior to disbursement.
• "SEC" — The Securities and Exchange Commission of the Philippines.
• "NPC" — The National Privacy Commission of the Philippines.

2. Eligibility

To apply for a loan through Microlender.PH, you must meet all of the following criteria:

• You are a Filipino citizen or a legal resident of the Republic of the Philippines.
• You are at least eighteen (18) years of age at the time of application.
• You hold a valid, government-issued identification document (e.g., Philippine passport, driver's license, PhilSys National ID, UMID, SSS ID, voter's ID, or PRC ID).
• You operate an active business, livelihood, or source of income that demonstrates repayment capacity.
• You maintain an active GCash, Maya, or Philippine bank account for loan disbursement and repayment.

We reserve the right to request additional documentation or information to verify your identity, income, or creditworthiness as part of the application process.

3. Loan Products & Terms

Microlender.PH offers microloans ranging from Twenty Thousand Pesos (₱20,000) to One Hundred Fifty Thousand Pesos (₱150,000). Specific loan amounts, interest rates, and repayment terms are determined based on borrower qualification and assessment.

Truth in Lending Disclosure (RA 3765)

In compliance with Republic Act No. 3765 (Truth in Lending Act), we will provide you with a Disclosure Statement before the execution of any loan agreement. This statement will clearly and conspicuously disclose:

• The total principal amount of the loan.
• All finance charges, including interest, service fees, processing fees, and any other charges imposed.
• The total amount to be financed (principal plus all charges).
• The effective annual interest rate.
• The number, amount, and due dates of installment payments or the single payment due date.
• Default charges, penalties, and other consequences of late or missed payments.
• Prepayment terms and any applicable fees or rebates.

No loan will be disbursed until you have received, reviewed, and acknowledged your Disclosure Statement.

4. Application Process

To apply for a loan, you must complete our online application form through the Microlender.PH platform. The application will require personal information, business or income details, and supporting documents.

Evaluation

Loan applications are evaluated based on factors including, but not limited to:

• Completeness and accuracy of submitted information.
• Verification of identity and eligibility requirements.
• Assessment of income, business viability, and repayment capacity.
• Credit history and any existing obligations (where applicable).

Notification

You will be notified of the status of your application — whether approved, conditionally approved, or denied — via the email address or contact information provided in your application. We are not obligated to disclose specific reasons for denial but may do so at our discretion.

5. Loan Disbursement

Upon approval and execution of the loan agreement, the approved loan amount will be disbursed to your designated account through one of the following channels:

• GCash
• Maya
• Philippine bank transfer

Disbursement will be processed within the timeline specified in your loan agreement, subject to verification and system availability.

It is your sole responsibility to provide accurate and complete account details for disbursement. Microlender.PH shall not be liable for any loss, delay, or failed transaction resulting from incorrect account information provided by the borrower.

6. Repayment Terms

Repayment Schedule

Your repayment schedule, including the amount and due dates of each installment, will be specified in your loan agreement and Disclosure Statement. You are expected to make payments on or before each due date.

Payment Methods

Repayments may be made through the following channels:

• GCash
• Maya
• Bank transfer to our designated account

Late Payments

If you fail to make a payment by the due date, a late penalty charge will apply as specified in your Disclosure Statement. Late penalties are computed on a per-day or per-occurrence basis as disclosed in your loan agreement.

Prepayment

You may prepay your loan in full or in part at any time. Prepayment terms, including any applicable rebates on unearned interest or charges, will be disclosed in your loan agreement. Microlender.PH does not charge prepayment penalties.

Default

A loan is considered in default if any installment remains unpaid for more than the grace period specified in your loan agreement, or if you breach any material term of these Terms or your loan agreement. Upon default, we may take lawful collection actions as described in Section 8.

Grace Period Policy

Microlender.PH offers a grace period for borrowers experiencing temporary financial difficulty, particularly during natural disasters, health emergencies, or calamity situations. Borrowers may request a grace period by contacting our team. During the grace period, no penalties or additional interest will be charged. Each request is evaluated individually.

7. Interest Rates & Fees

As a nonprofit social enterprise, Microlender.PH offers below-market interest rates designed to make credit accessible to underserved Filipino communities. Our rates and fees reflect only the operational costs necessary to sustain the lending program.

• All interest rates and fees are disclosed transparently in your Disclosure Statement before loan execution, in full compliance with RA 3765.
• There are no hidden fees. Every charge — including processing fees, service fees, late penalties, and any other costs — is itemized and disclosed upfront.
• The effective annual interest rate will be clearly stated in your Disclosure Statement.

We do not charge fees beyond those expressly disclosed in your loan agreement and Disclosure Statement.

8. Fair Collection Practices

Microlender.PH is committed to ethical and lawful debt collection in compliance with SEC Memorandum Circulars on fair collection practices and the Financial Products and Services Consumer Protection Act (FPSCPA) of 2022.

We Will:

• Contact borrowers regarding overdue accounts only between 6:00 AM and 10:00 PM Philippine time.
• Communicate with respect, professionalism, and without intimidation.
• Provide clear information about the outstanding balance, applicable charges, and available remedies.

We Will Not:

• Use threats, violence, profanity, or any form of harassment in collection activities.
• Contact your employer, family members, relatives, or friends about your loan obligations, except as permitted by law or with your written consent.
• Engage in debt shaming, public disclosure, or any action intended to humiliate or embarrass borrowers.
• Misrepresent the amount owed or the legal consequences of non-payment.
• Collect any amount not expressly authorized in the loan agreement and Disclosure Statement.

If you believe any collection activity has violated these standards, you may file a complaint using the contact information in Section 17.

9. Borrower Obligations

By using our services and entering into a loan agreement, you agree to:

• Provide truthful, accurate, and complete information in your application and all communications with Microlender.PH.
• Promptly notify us of any changes to your personal information, contact details, or financial circumstances that may affect your loan or repayment ability.
• Make all loan repayments on time and in accordance with the terms of your loan agreement.
• Use loan proceeds solely for lawful purposes. Microlender.PH shall not be responsible for any unlawful use of disbursed funds.
• Cooperate in good faith with any verification, audit, or collection process initiated by Microlender.PH.

10. Our Obligations

Microlender.PH commits to the following obligations toward all borrowers:

• Process all loan applications fairly, without discrimination, and in a timely manner.
• Provide a complete Disclosure Statement in accordance with RA 3765 before disbursement of any loan.
• Protect your personal data in compliance with Republic Act No. 10173 (Data Privacy Act of 2012) and all applicable regulations of the National Privacy Commission.
• Maintain transparent lending practices, including clear communication of all terms, fees, and conditions.
• Respond to borrower inquiries and complaints within a reasonable timeframe.
• Conduct all collection activities in accordance with fair collection standards as described in Section 8.

11. Intellectual Property

All content on the Microlender.PH platform — including but not limited to the Microlender.PH name, logo, branding, website design, text, graphics, software, and marketing materials — is the intellectual property of Social Ventures Association and is protected under applicable intellectual property laws of the Philippines.

No content may be copied, reproduced, distributed, modified, or used for any commercial or non-commercial purpose without prior written consent from Social Ventures Association.

12. Limitation of Liability

To the fullest extent permitted by Philippine law, Microlender.PH shall not be liable for any indirect, incidental, special, or consequential damages arising from your use of our platform or services, including but not limited to:

• Loss or delay of funds due to incorrect account information provided by the borrower.
• Service interruptions caused by system maintenance or technical failures.
• Unauthorized access to your account due to your failure to safeguard credentials.
• Actions of third-party service providers (e.g., GCash, Maya, banks).

Nothing in these Terms limits or excludes our liability for violations of Republic Act No. 10173 (Data Privacy Act), Republic Act No. 3765 (Truth in Lending Act), or any other liability that cannot be excluded under Philippine law.

13. Dispute Resolution

Internal Complaint Mechanism

If you have a complaint or dispute regarding any aspect of our services, you may submit it in writing to [email protected]. We will acknowledge receipt within five (5) business days and endeavor to resolve the matter within thirty (30) business days.

Mediation

If a complaint cannot be resolved internally, either party may seek mediation through a mutually agreed-upon mediator or through an accredited mediation center in the Philippines.

Jurisdiction

Any dispute arising from or in connection with these Terms that cannot be resolved through internal mechanisms or mediation shall be subject to the exclusive jurisdiction of the appropriate courts of the Republic of the Philippines.

14. Social Enterprise Disclosure

Microlender.PH is operated by Social Ventures Association, a nonprofit social enterprise. This means:

• All surplus revenue generated from lending operations is reinvested into community programs, including but not limited to scholarships, charitable initiatives, and financial literacy education.
• Our mission is to provide affordable and accessible credit to underserved Filipino communities, not to maximize profit.
• Microlender.PH is not a bank and is not a deposit-taking institution. Loans extended by Microlender.PH are not covered by the Philippine Deposit Insurance Corporation (PDIC).

Core Values

Microlender.PH operates under the guiding values of Integrity, Customer-centricity, Transparency, and Accountability. These principles inform every aspect of our lending practices, from application processing to collection, and reflect our commitment to serving borrowers with fairness and respect.

15. Regulatory Compliance

Microlender.PH operates in compliance with the following laws and regulations of the Republic of the Philippines:

• Republic Act No. 3765 — Truth in Lending Act: Governs the disclosure of finance charges and related information in credit transactions.
• Republic Act No. 9474 — Lending Company Regulation Act of 2007: Governs the establishment, operation, and regulation of lending companies.
• Republic Act No. 10173 — Data Privacy Act of 2012: Governs the collection, processing, and protection of personal data.
• Financial Products and Services Consumer Protection Act (FPSCPA) of 2022 — Provides a framework for consumer protection in financial products and services.
• SEC Memorandum Circulars — Including circulars on fair debt collection practices, lending company reporting requirements, and borrower protection.
• National Privacy Commission (NPC) Issuances — Including guidelines on data processing, consent, breach notification, and data subject rights.

16. Amendments

We reserve the right to amend or update these Terms at any time. In the event of material changes, we will provide at least thirty (30) days' advance notice through one or more of the following channels:

• Email notification to the address associated with your account.
• A prominent notice on the Microlender.PH website.
• SMS notification where applicable.

Your continued use of our platform or services after the effective date of any amendment constitutes your acceptance of the updated Terms. If you do not agree with the amended Terms, you must discontinue use of our services and settle any outstanding obligations.

17. Contact Information

For questions, concerns, or complaints regarding these Terms or our services, please contact us:

Microlender.PH (Social Ventures Association)

• General Inquiries: [email protected]
• Data Privacy Concerns: [email protected]

Regulatory Bodies

• Securities and Exchange Commission (SEC): www.sec.gov.ph
• National Privacy Commission (NPC): www.privacy.gov.ph

18. Severability & Entire Agreement

Severability

If any provision of these Terms is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect. The invalid provision shall be modified to the minimum extent necessary to make it valid and enforceable while preserving its original intent.

Entire Agreement

These Terms, together with your loan agreement, Disclosure Statement, and our Privacy Policy, constitute the entire agreement between you and Microlender.PH with respect to your use of our platform and services. These Terms supersede all prior or contemporaneous communications, proposals, and agreements — whether oral or written — between you and Microlender.PH regarding the subject matter herein.