📜 Credora Lend Loan Agreement

🏢 1. Parties

This Loan Agreement ("Agreement") is made between:

Lender: Credora Lend is operated by BHANGAL-MANN LENDING CORPORATION, registered under the laws of the Philippines. hereinafter referred to as "Lender."

Borrower: The individual applying for and receiving the loan, hereinafter referred to as "Borrower."

💰 2. Loan Terms

Loan Details:

• Loan Amount: 1,500.00 - 85,000.00
• Annual Percentage Rate (APR): 3% to 21%
• Loan Term: 91 days - 365 days
• Payment Schedule: Monthly

Example Calculation:

• Loan Amount: 15,000
• Annual Percentage Rate (APR): 16%
• Loan Term: 180 days (6 months)
• Total Interest: 1,183.56
• Total Repayment: 16,183.56
• Monthly Repayment: 2697.26

📆 3. Repayment Terms

• Payments must be made in accordance with the agreed schedule.
• Late payments may incur additional fees as specified in the agreement.
• Failure to make payments may result in legal action or collection proceedings.

⚠️ 4. Default Events and Consequences

4.1 Events of Default

A Default Event will be triggered if the Borrower:

• Fails to make any payment under this Agreement by the due date.
• Provides false, misleading, or incomplete information during the loan application process or throughout the loan term.
• Becomes insolvent, bankrupt, or is subject to legal constraints preventing the Borrower from meeting their loan obligations.
• Violates any significant provision of this Agreement or any applicable laws or regulations.

4.2 Consequences of Default

• Acceleration of Loan: The entire outstanding loan amount, including accrued interest, applicable fees, and any other owed amounts, will become immediately due and payable.
• Default Interest: A penalty interest rate of 0.05% per day will be applied to overdue amounts, calculated from the due date until full payment is made.
• Legal Costs: The Borrower agrees to cover all legal costs, including attorney fees, incurred by the Lender in recovering overdue amounts as per applicable law.

🔄 5. Early Repayment

The Borrower may repay the loan in full before the agreed term without penalties unless otherwise stated.

📜 6. Governing Law

This Agreement shall be governed by and interpreted in accordance with the laws of Philippines.

📞 7. Contact Information

If you have any questions regarding this Loan Agreement, please contact us:

📧 Email: [email protected]

📍 Address: 69 Mearle Homes Mearle Homes Subdivision Sto. Niño Marikina, Manila, 1800 Philippines