The following Terms of Service (“Terms of Service”) govern the relationship between you (a Borrower or Lender) and us (

  1. Interpretation of terms

1.1.   In these Terms of, the words and expressions set out below shall have the following meanings assigned to them:

Borrower means any member who has registered with us through the Website with a view to borrowing money from prospective Lenders;
Offer (or loan offer) means an amount quoted by a Lender to a Borrower in relation to an unfulfilled Loan Request.
Request (or loan request) means an amount quoted by a Borrower seeking funding from Lenders through our website ;
Lender means any member who has registered with us through the Website with a view to lending money to prospective Borrowers;
Loan means an amount of monies made by a Lender to a Borrower pursuant to a Loan Agreement between the two parties.
Loan Agreement means a contract entered between a Borrower and a Lender, which shall comprise the Loan Particulars, and the Loan Conditions.
Loan Conditions means the standard conditions such as repayment schedule which apply to each Loan Agreement
Loan Particulars means the particulars of the Loan Agreement, including any Special Conditions incorporated in the funding of the loan through any part of the published listing.
Service Fee means the amount charged by us (Socin) whenever a member takes a loan;
Insurance where applicable, it means the security granted by us to a Lender as ‘security’ for mitigating against the risk of default on re-payment of any Loan;
User Account means your financial account on the Website showing, among other things a record of all payments made or received for the purposes of loan provision and repayment, service fees and insurance.
Website means the website with the address;
“we”, “us” and “our” means this website or our company “Espring Holdings” which operates this website;
“you” and “your” means you, a registered user of the Service, being either a  Borrower or a Lender.


  1. Introduction

2.1. By registering to use this Website you agree to be bound by these Terms of Service either in your capacity as a Borrower or a Lender.

2.2. If as a consequence of using our Service you subsequently enter into a Loan Agreement (either as a Borrower or a Lender) the rights and obligations owed by each party to the other shall be governed by the Loan Agreement.

2.3. It is important that you read these Terms of Service and you should print or otherwise save a copy for your future reference.

2.4. If there is a conflict between these Terms of Service and the Loan Agreement, the terms of the Loan Agreement shall prevail.

2.5. From Time to time we may update or amend these Terms of Service when necessary. If you do not agree with the updated terms of service, you can terminate your membership.

  1. The Service

– Important please read

3.1. Through the Website, our principal role is to perform administrative functions on behalf of Borrowers and Lenders in order to bring together prospective Borrowers and Lenders, to provide a stream-lined process for entering into Loan Agreements and to record the payment of sums due under or in connection with such Loan Agreements (including helping Lenders recover money in case Borrowers default where insurance cover is bought).

3.2.   We do not:

3.2.1. provide any advice or express any opinion to either prospective Lenders or Borrowers on the question of whether to enter into any Loan Agreement;

3.2.2. make any representation or give any opinion as to the credit worthiness of a Borrower;

3.3. A Lender must form their own opinion regarding the creditworthiness of a Borrower and undertake its own research, analysis and assessment of each Borrower for each Loan Agreement, and where appropriate, seek independent financial and/or legal advice.

3.4. Whilst through the Website, we do make available certain information about a Borrower, with the intention of helping a Lender make a decision, we make no representation that such information is complete accurate and not misleading, and we shall have no liability whatsoever for any information supplied through the Website about a Borrower, nor any opinion expressed or implied in relation to the creditworthiness of a Borrower (in the form of a risk rating or otherwise), which proves to be inaccurate, incomplete or misleading.

3.5. Whilst we offer insurance compensation to the Lender in case of default, such compensation is only up to the amount of Insurance a Borrower has paid for at the time of obtaining the loan. In addition, all compensation will be paid in installments over a period of 24 months. Compensation will also start 90 days from the repayment date of the first installment defaulted by the borrower. The 90 days are provided as a grace period to allow a borrower to catch up on late payments. The risk of non-payment should therefore be taken into account by the Lender in deciding whether to enter into a Loan Agreement, and in deciding the interest rate they wish to charge for their Loan.

3.6. All of our fees are in payment for our role in supplying the Service set out herein. They are not for dealing with any analysis of the information provided by Borrowers which we carry out as part of our free borrower due diligence and which is always undertaken on a no-fee, no-liability basis.

  1. Pre-conditions of becoming a Lender

4.1. The following conditions must be satisfied before a Lender can use the Service;

4.1.1. The Lender must be an individual, a partnership, a limited liability partnership, a limited company or public body;

4.1.2. If the Lender is lending in their capacity as an individual, the Lender must be at least 18 years old and should provide government issued identification documents for identity and age verification purposes when We place such a request;

4.1.3. If the Lender is a public body, you must be registered or formed with the relevant governing authority in the country of residence);

4.2. The Lender agrees that we can correspond by way of email, post and telephone via the contact details supplied by it.

4.3. The Lender agrees to ensure that all contact details supplied are accurate and kept up-to-date.

  1. Pre-conditions of becoming a Borrower

5.1. The following conditions must be satisfied before the Borrower can use the Service:

5.1.1. the Borrower can be an individual, a partnership, a limited liability partnership, a limited company or public body;;

5.1.2. the Borrower must provide valid documents issued by the relevant governing authority in the country of residence;

5.2. The Borrower agrees that the details that he/she submits to us may be disclosed by us directly to a Lender.

  1. Borrower and Lender checks

6.1. As part of the registration process we and certain people authorized to act on our behalf will check your identity. We may do this using our Credit Checking Agency, or we may ask you to send us copies of your driver’s license, passports or other identification documents and anything else that we may need. Providing the information and documents we ask for is a pre-condition to using the Service.

6.2. Having registered with us and applied to borrow money through us, using our website we will undertake fraud checks on the Parties

6.3. You warrant to us, and each Lender and Borrower warrants to each other, that all information submitted in the course of the application and borrowing process was at the time of its submission, and is at the time a Loan Agreement is entered into, true, accurate and is not misleading. If any information changes so that this is no longer the case, you must immediately update the information so that it complies with the warranty in this clause. Such updates will be made available to the other interested parties. A failure to provide accurate information may result in a Loan being repayable early under the terms of the Loan Agreement.

  1. Username and Password

7.1. When you register with us, you will need to choose a username and provide an email, mobile telephone number and address. You will also need to choose a password. These are necessary to access the restricted areas of the Website. It is your responsibility to keep this information confidential so that you can only use it. We accept no liability whatsoever for any activity on your account by anyone using your logon information. If you suspect that there has been unauthorized use of your account of any kind whatsoever, or your login information has become known to anyone else, you must notify us of this immediately following the notification procedure set out in these terms.

7.2. You undertake to us that you will not in any way change or attempt to change or avoid the login procedure used on our Website.

7.3. In our absolute discretion, and for your protection, we will have the right to refuse to act on your instructions where we suspect that access has or is being gained by persons unauthorized to do so, or we suspect other illegal or fraudulent activity.

  1. Getting Started

8.1. Each Lender can only make offers to loan requests posted publicly by Borrowers.

8.2. Each Borrower can post a Loan Request immediately after registering for an account. It is within our absolute discretion as to whether or not a Loan Request is published on the Website. We might request you to verify your identity or adjust some of the information in your request before it is published.

8.3. It is up to the Borrower to decide whether to buy Insurance before posting a Loan request or to post such a request without any Insurance.

8.4. Only one loan request can be posted at a time by a borrower. When a loan is funded, the borrower cannot post another loan until the current loan is cleared.

  1. The bidding process

9.1. Each Lender decides which Loan Requests to make Proposals to fund. The lender selects the amount of money to lend and the interest rate to charge.

9.2. The current minimum proposal amount you are allowed to post in relation to any Loan Request is $100. Each loan request posted will have a budget set by the Borrower and these limits will govern the minimum and maximum amount a lender can quote in the proposal.

9.3. All Lenders will be charged a bidding fee when sending a proposal. This fee is only levied to ensure only lenders with genuine interest submit proposals. All bidding fees charged will be refunded to the losing lenders when a winner is selected.

9.4. In case the winning lender is unable finance the loan request, the bidding fee will not be refunded.

  1. Transfer of funds

10.1. In the interest of reducing borrowing costs, parties agree make all money transfers directly to each other under the following terms:

10.1.1. The transfer method to be discussed and agreed on by the two parties in their loan agreement.

10.1.2 .The chosen transfer method chosen to have tangible evidence that such a transfer did actually occur (transaction receipts, statements, confirmation emails etc)

10.1.2. All records of transfers to be deposited with us whenever the transfers are performed. Only records in our possession will be used in case of disputes arising in future.

  1. Binding effect of Bids/Proposals

– Important please read

11.1. As a Lender, you agree that in submitting a proposal, your offer cannot be withdrawn and will have contractual force if accepted by the Borrower, unless;

11.1.1. There is a significant material change to the terms of the loan that may cause you to re-evaluate your bidding on the loan

  1. The Loan Agreement

– Important please read

12.1. For the avoidance of doubt, any Loan will be subject to the terms and conditions of the Loan Agreement, which shall comprise:

12.1.1. the Loan Conditions; and

12.1.2. the Loan Particulars

12.2. Entry into a Loan Agreement is an automatic process supplied as part of the Service.

  1. Interest and repayments

13.1. The Loan Agreement sets out the terms and regulates the payment of the Loan repayments by the Borrower.

13.2. Repayments of a Loan and payment of interest shall be made by the Borrower directly to the lender using the method agreed on in the loan agreement.

13.3. Full repayment will include the principle amount, interest, bidding fee and Loan sourcing fee. Alternatively, the Lender can deduct the bidding fee and Loan sourcing fee upfront. In such cases, the Borrower will only be required to pay the Principle and interest.

13.4. Notwithstanding any other clause in these Terms of Service and the Loan Conditions, you agree that, in special circumstances and at our absolute discretion, ( Acting as your agent and on your behalf) may agree with the borrower to restructure the loan and to amend the loan contract in any of the ways listed below:

13.4.1. To amend the loan term upwards and increase the interest rate accordingly.

13.4.2. To restructure the loan repayment schedule by: Allowing a repayment holiday Allowing a period of interest only repayments, which has the effect of increasing the loan term

13.4.3. Where we believe that an agreement to restructure the loan and amend the Loan Agreement is in the interests of the relevant lenders, and intends to amend the terms of the loan contract in accordance with clause 13.4 above, we will notify you of our intentions to make the amendments not less than 1 week before making the change.

13.5. As a Lender, you agree that will act as your agent where required, on your behalf in:

13.5.1. Negotiating and agreeing any amendments to the Loan Agreement; and

13.5.2. Entering in to the amendment to the Key Contract Terms in accordance with 13.4.

13.6. You hereby appoint ( for the duration of your membership) as your agent with full authority and capacity to agree to the amendments without your specific agreement. These changes will bind you to the Loan Agreement.

  1. Lender fees

14.1. We will charge each Lender a transaction fee for the sourcing of each Loan equal to 4% of the loan amount (‘the Sourcing Fee’). The sourcing fee helps us cover our obligations as the insurer for all loans

14.2. The Sourcing Fee(s) will be automatically deducted from the Lender’s account when loan is funded.

  1. Borrower’s Fees

15.1. Borrowers will not be charged any fees when taking loans through However, all fees incurred by Lenders will be transferred to the borrower as an expense to be repaid on top of the principle amount borrowed and interest.

15.2. Sourcing fees can be deducted by the Lender upfront (from the principle) or added to the total amount repayable to be collected later. The Lender and Borrower choose the most appropriate option when crafting their loan agreement.

  1. Trust point

16.1. We may operate a points system, which we use as an indicator of your level of activity and reliability. The points system shall be operated in such manner as we shall think fit in our absolute discretion. Our policy, which we shall publish from time to time, setting out the rules concerning how the points system works, may be varied by us in our absolute discretion and without notice.

16.2. The points system is an indicator of a number of different qualities including but not limited to:

16.2.1. as  Lender, your level of activity on the Website in terms of making Bids on Loan Requests or  completing Loan Agreements;

16.2.2. as a Borrower, your track record in terms of making repayments on time;

16.2.3. the introduction of either new Borrowers or new a Lenders to the Website.

  1. Missed repayments

– Important Please Read

17.1. If the Borrower fails to make a full repayment (including interest) to a Lender, we shall within reason, repeatedly contact the Borrower to ask them to pay the overdue amount immediately. If our reattempt to collect the funds fails beyond 1 working days after the payment was due, the borrower’s account will be treated as an overdue account and we will continue to attempt to collect the funds.

17.2. If payment has still not been made 90 days from the date payment was due, will implement an administration fee of up to 15% of the missed payment amount. This fee will be immediately payable and is in addition to the repayment amount due.

17.3. If the Borrower misses, fails to pay in full, three consecutive monthly installments they will be deemed to be in default. When a loan is deemed to be in Default, and the loan was covered by insurance, repayment will be made from insurance.

17.4. In addition to 17.2 and 17.3 above, will, where it deems necessary and in the best interest of recovering the amount owed demand immediate repayment of the loan amount outstanding including all outstanding accrued interest and costs incurred. This clause is likely only to be implemented where no longer enjoys the cooperation of the Borrower and believes the loan to be at risk and justifies the action ahead of the above proposed schedule. will at all times attempt to act in the best interests of both the Lenders and the Borrowers, but will ultimately seek to recover the amount owed.

17.5. Following 17.3 we may refer the missed repayment to a collections agency (‘the Collections Agency’) who will attempt to collect the money on our behalf.

17.6. Where a loan is placed in default, we will also restrict the Borrower’s account.

  1. Termination your membership of the Service

18.1. If you no longer want to benefit from the Service you can let us know and we will end your membership as soon as any current Loan Agreements are repaid and come to an end.

18.1.1. We shall have the right in our absolute discretion terminate your membership in the event of the following: you breach these Terms of Service; you breach any Loan Agreement; we suspect that you have committed fraud, been involved in money laundering or other criminal activities; you use the Website in any of the following ways: in any way that causes, or is likely to cause, the Website or access to it to be interrupted or damaged in any way; for fraudulent purposes, or in connection with a criminal offence; to send, use or reuse any material that is illegal, offensive, abusive, indecent, defamatory, obscene or menacing; or in breach of copyright, trademark, confidence, privacy or any other right; or is otherwise injurious to third parties; or objectionable; or which consists of or contains software viruses, political campaigning, commercial solicitation, chain letters, mass mailings or any “spam”;

  1. Public Message Boards

19.1. You shall at all times refrain from posting any comments or material which:

19.1.1. advertises your business;

19.1.2.  is offensive or abusive towards any other user, ourselves or any other person, or which may be libelous, a breach of third party copyright or which maybe otherwise unlawful.

19.2. User generated content in no way reflects our opinions and we may in our sole discretion remove any material which we deem is in breach of clause 19.1 or which we deem is inappropriate for any other reason. We shall exercise its discretion in good faith but shall owe no liability to you whatsoever in respect of any user generated content.

19.3. We shall have a royalty free perpetual license to use and reproduce all content generated by you and published on our website.

  1. General terms

20.1. This Website is not intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to applicable law or regulation.

20.2. You are permitted to download and print the content on the Website for your personal use or in the course of your business but only to the extent required to use the services provided on the Website. You must not use the content of the Website for any other purpose without our express written consent.

20.3. We will endeavor to facilitate uninterrupted access to the Website. Access to the Website may be suspended, restricted or terminated at any time.

20.4. You agree to use the Website only for lawful purposes and in a way which does not infringe the rights of anyone else or restrict or inhibit anyone else’s use and enjoyment of the Website.

20.5. You warrant and represent that you have taken all reasonable precautions to ensure that any data you upload to the Website is not infected with any virus or anything else, which may have a destructive effect on any part of the Website.

20.6. We use secure socket layer (SSL) encryption to encrypt information communicated between a User’s browser and the Website. We take reasonable precautions to prevent the existence of computer viruses or other malicious programs on the Website, but we accept no liability for them if they do exist. It is your responsibility to use, update and maintain appropriate antivirus software on your computer.

20.7. Information transmitted via the Website will be via public telecommunications networks. We accept no liability if communications sent via the Website are intercepted by third parties or incorrectly delivered or not delivered.

20.8. The Website may contain links to other Websites. We accept no responsibility or liability for any material supplied by or contained on any third party Website which is linked from or to the Website, or any use of personal data by such third party.

  1. Privacy

21.1. You agree that any and all personal information you provide to us via this Website may be collected, stored, processed and used

  1. Intellectual property rights

22.1.  We own all present and future copyright, registered and unregistered trademarks, design rights, unregistered designs, database rights and all other present and future intellectual property rights and rights in the nature of intellectual property rights existing in or in relation to the Website.

22.2. If and to the extent that any such intellectual property rights vest in you by operation of law or otherwise, you agree to do any and all such acts and execute any and all such documents as we may reasonably request in order to assign such intellectual property rights to us.

22.3. You shall retain ownership of all copyright in data you upload or submit to the Website. You grant us a world-wide exclusive, royalty-free, non-terminable license to use, copy, distribute, publish and transmit such data in any manner.

22.4. We do not warrant or represent that the content of the Website does not infringe the rights of any third party.

  1. Amendments to these Terms of Service

23.1. We reserve the right to change these Terms of Service from time to time to comply with law or to meet our changing business needs. When changes are made, we will post them on our Website so that you can view them when you log on. By continuing to use the Website, you agree to be bound by the terms of the latest Terms of Service.

  1. Severance

24.1. If any of these Terms of Service are found to be illegal, invalid or unenforceable by any court of competent jurisdiction, the remainder shall continue in full force and effect.

24.2. All disclaimers, indemnities and exclusions in these Terms of Service, together with other terms, which by their nature are designed to survive termination of this agreement, shall survive termination for any reason of the agreement.

  1. Waiver

25.1. A waiver of any right or remedy under the Terms of Service is only effective if given in writing and shall not be deemed a waiver of any subsequent breach or default. A failure or delay by you or us to exercise any right or remedy provided under these Terms of Service or by law shall not constitute a waiver of that or any other right or remedy, nor shall it preclude or restrict any further exercise of that or any other right or remedy.

25.2. No single or partial exercise of any right or remedy provided under these Terms of Service or by law shall preclude or restrict the further exercise of any such right or remedy.

  1. Refunds Policy

Please read this policy carefully.

26.1. Fee Refunds

The fees charged here at can only be refunded under special conditions and within specific from the date of the original payment as follows.

26.1.1. Insurance Payment (borrowers)

The amount(s) paid by the borrower as insurance can be refunded in case the borrower has not managed to get a loan from any of the lenders. The refund can only be claimed if 90 days have elapsed since the original payment date but not later than 2 years.

26.1.2. Loan fees (Lenders)

The 4% loan fees charged before loans can be processed is fully refundable in case the loan is not delivered to the borrower due to unforeseen circumstances (i.e. the borrower is not able to collect the funds or  if We terminate the borrower’ account). This fee can only be refunded within 1-30 days from the date of the original payment.

We recommend contacting us for assistance if you experience any issues posting loan requests.

26.1.3. Contact us

If you have any questions about our Refunds Policy, please contact us by email:

  1. Entire Agreement

27.1. These Terms of Service set out the entire agreement between you and us with respect to your use of the Website and the Services and supersede any and all representations, communications and prior agreements (written or oral) made by you or us.