Loans and credit vs GrabrFi Usage & Stats

All loans under Loans and credit fall within the following terms: Minimum repayment period = 90 days Maximum repayment period = 365 days Maximum APR = 15% Representative example Loan amount - USD 100 Term of loan - 3 months Interest per year 12% Service fee - None. Repayment Interest is 12% x USD 100 X 3/12 months = USD 3 Monthly payments = USD 34.33 (comprising USD 33.33 principal + USD 1 interest) Total amount to repay = USD 34.33 x 3 months = USD 103 (comprising USD 100 principal + USD 3 interest) Total cost of the loan, including all applicable fees = Service Fee 0 + Interest USD 3 = Total Cost of Loan USD 3 Important notice: Loans and credit(unlike the lenders who may register on the app) does not lend money on a commercial basis. We provide a progressively secure platform where borrowers and lenders can find each other and start a transaction. To that end, we may offer interest free grants with no fixed repayment period. We encourage, but do not force, borrowers to repay our interest free grants. On repayment, borrowers build a good repayment track record. This helps registered lenders (licensed, where applicable, in the jurisdictions they operate and vetted by us) to evaluate the repayment capacity of borrowers, before lending to the borrowers under terms that do not exceed the maximum costs of loans allowed by Loans and credit terms and conditions. We provide a system where borrowers can review lenders (and vice versa) and a mechanism to file complaints where there is abuse or unethical behavior. Lenders near you. We allow licensed lenders near you, and provide a registry of lenders to give borrowers as wide as possible a choice when looking for finance. Loans and credit offers the option of switching countries, so that a borrower can check on the lenders in other countries. For example, a borrower in Lagos, Nigeria can see whether there are any cross-border lenders from Nairobi, Kenya or even New York, USA. Loan applications. Lenders spend a lot of marketing money trying to find borrowers who fit their target market. Loans and credit provides an abundance of loan applications from all over the world (grouped by country), where registered lenders can be able to start a conversation that can lead to a loan. Register of defaulters. Defaults cause losses to lenders, especially private lenders who have no access to credit reference bureaux. That lack of information also harms borrowers, because lenders do not know how to price their loans. Lack of information on defaulters is solved by Loans and credit by providing a member’s only accessible register of defaulters in every country. References. In a bit to increase creditworthiness, borrowers may list friends and family as references for lenders to see. This is done through the My References section in Loans and credit. A borrower in Chile with ten friends as his references is a better lending risk than a borrower in Paris with no listed references. Legal documents. We provide lending contracts, claim forms, loan applications forms and other legal documents for use by lenders and borrowers. Lender reviews. Which lender was difficult in their approval process? Who as considerate during default? Which lender offered transparency in their lending process? The lender review section allows users to give feedback on their experience so as to help other users educate themselves. Bounties and rewards. Are you offering a reward for the tracing of a debtor who has absconded with a loan? We have a large international user base of bounty hunters in every country that can help you track missing debtors. Debt collectors. Do you have a debt that you want collected? Loans and credit has a debt collection platform that connects you with registered debt collectors that are effective and professional. Lawyers. Have you been treated unfairly or has there been a breach of a lending contract? We have a lawyers section where lawyers who have expertise in loan disputes.

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GrabrFi

Access US banking services, without being a US resident. Get started in minutes • Open an account and card in US dollars from the comfort of home. • All you need is your passport to get started. No paperwork, no hassle. Why GrabrFi? Enjoy all the perks of US banking: • Pay for products and services in US dollars with a Mastercard debit card, accepted worldwide. • Get paid in US dollars, don't lose a cent of your hard earned money to currency exchange rates and fees. • Travel to the US and pay like a local. • Send money to friends and family. • Save in US dollars. • Withdraw US dollars from ATMs in the US. • No maintenance fees. You're in good hands • 24/7 human customer support. • GrabrFi is a product from Grabr, a US-based company that has been in business for 7+ years and is backed by top Silicon Valley investors. GrabrFi is a product of Grabr, Inc. Grabr, Inc. is a financial technology company, not a bank. We work with different partners to provide you financial services. Disclosure for customers with services provided by Synapse Financial Technologies, Inc. and its affiliates. Certain services are offered through Synapse Financial Technologies, Inc. and its affiliates (collectively, “Synapse”). Synapse is not a bank and is not affiliated with GrabrFi. Brokerage accounts and cash management programs are provided through Synapse Brokerage LLC (“Synapse Brokerage”), an SEC-registered broker-dealer and member of FINRA and SIPC. Additional information about Synapse Brokerage can be found on FINRA’s BrokerCheck. See Synapse Terms of Service, Privacy Policy, and the applicable disclosures and agreements available in Synapse’s Disclosure Library for more information. The cash balance maintained in a Synapse Brokerage Cash Management Program is held at one or more Program Banks. The deposit at a Program Bank is not covered by Securities Investor Protection Corporation (SIPC). The deposit is eligible for FDIC insurance subject to FDIC insurance coverage limits. All assets of the account holder at the depository institution will generally be counted toward the aggregate limit. For more information about FDIC insurance coverage, please visit the FDIC website at www.FDIC.gov or call 877-ASK-FDIC. As referenced in the Synapse Brokerage Customer Agreement, customers are responsible for monitoring their total assets at the Program Bank to determine the extent of available FDIC insurance. All FDIC insurance coverage is in accordance with FDIC rules. See your applicable account agreements and the Synapse Terms of Service for further details. The Program Bank(s) participating in a Synapse cash management program can be found in the List of Program Banks. Disclosure for customers with services provided by Regent Bank Banking services provided by Regent Bank; Member FDIC. The GrabrFi Mastercard® Debit Card is issued by Regent Bank pursuant to a license from Mastercard U.S.A. Inc. and may be used everywhere Mastercard debit cards are accepted. To check your current provider and which disclosure applies to you, click on More on the GrabrFi website or app after logging in. You'll see this on the bottom of the page.