Terms of Use

1. Introduction

OgaCash is a financial services company offering loans to individuals and businesses. By using our services, you acknowledge and agree to the terms set forth in this agreement. If you do not agree to these Terms, you must not apply for or use any of our loan products.

2. Eligibility Requirements

To be eligible to apply for a loan with OgaCash, you must meet the following criteria:

• Be at least 18 years of age or the legal age of majority in your jurisdiction.
• Be a legal resident of Nigeria with a valid ID and proof of address.
• Have a BVN and a valid bank account to receive loan funds and make repayments.
• Have stable income or a reliable source of funds.
• You may be required to undergo a credit check to determine your eligibility for certain loan products.

3. Loan Application Process

• Application: To apply for a loan, you must complete an online application through our website or mobile app. You are required to provide accurate and truthful information about your financial situation, including but not limited to income, expenses, and any outstanding debts.
• Loan Approval: OgaCash will review your application and assess your creditworthiness. The approval process may involve verifying your identity, reviewing your credit history, and assessing your ability to repay the loan.
• Disbursement: Upon approval, the loan amount will be disbursed to your designated bank account within 24 hours.

4. Loan Terms

• Loan Amount: You may apply for a loan between ₦500 and ₦100,000 depending on your eligibility.
• Interest Rate: The interest rate applicable to your loan will be disclosed to you during the application process. This rate may vary based on your credit score, loan amount, and other factors.
• Loan Period: Loans are typically offered for periods ranging from 1 to 6 months. Your loan term will be specified in the loan agreement.
• Repayment Schedule: You will be required to make regular payments according to the agreed schedule. These payments will include both principal and interest.
• Late Fees: Failure to make payments on time may result in late fees. Late payment charges may be specified in the loan agreement.
• APR: The Annual Percentage Rate (APR), which includes both the interest rate and any applicable fees, will be disclosed to you before you accept the loan offer.

5. Repayment and Fees

• Payment Methods: Payments can be made via bank transfer, debit/credit card, or through other payment methods specified in your loan agreement.
• Late Payments: If you fail to make a payment on time, a late fee may be applied, and your loan may accrue additional interest. Failure to pay may lead to collection efforts, and your credit score may be negatively impacted.
• Early Payments: You may choose to repay your loan early. However, the expected amount is the same. You will be informed of any applicable fees before you agree to the loan.

6. Privacy and Data Protection

• Data Collection: By applying for a loan, you consent to OgaCash collecting and storing personal and financial information to process your loan application and provide services.
• Use Data: Your information may be used for purposes such as assessing your creditworthiness, servicing your loan, and complying with legal requirements. We will not share your personal information with third parties except as required by law or with your consent.
• Security: We use reasonable measures to protect your data from unauthorized access, but we are not liable for any data breaches caused by third parties.

7. Borrower’s Obligations

As a borrower, you agree to:

• Provide accurate, truthful, and complete information during the loan application process.
• Repay the loan according to the agreed-upon terms and schedule.
• Notify OgaCash promptly in case of changes to your contact information or financial situation.
• Be responsible for all payments, including any late fees or charges incurred due to non-payment.

8. Default and Consequences

Failure to repay your loan as agreed constitutes a default. If you default on the loan, the following may occur:

• Collection Efforts: OgaCash may initiate collection efforts, including contacting you via phone, email, or letter.
• Credit Reporting: OgaCash may report your default to credit bureaus, which may impact your credit score.
• Legal Action: In cases of severe non-payment, OgaCash reserves the right to take legal action to recover the outstanding loan balance.

9. Amendments to Terms

OgaCash reserves the right to amend or modify these Terms at any time. Any changes will be communicated to you via email or through our website. Your continued use of our services after such changes constitutes your acceptance of the updated Terms.

10. Governing Law and Dispute Resolution

• Governing Law: These Terms will be governed by the laws of Nigeria.
• Dispute Resolution: Any disputes arising from or related to these Terms or the loan agreement will be resolved through arbitration in Lagos, Nigeria, unless otherwise required by law.

Limitation of Liability

OgaCash will not be liable for any indirect, incidental, or consequential damages arising from your use of our services. Our total liability is limited to the amount of the loan principal.

12. Contact Information

If you have any questions or need assistance regarding these Terms or your loan, please contact us at:

• Email: hello@ogacash.loans
• Phone: 0906 098 2093
• Mailing Address: 20 Bishop Street, off Akerele Road, Surulere, Lagos.

13. Miscellaneous

If you have any questions or need assistance regarding these Terms or your loan, please contact us at:

• Assignment: may assign or transfer its rights under these Terms and any loan agreement to third parties without notice to you.
• Severability: If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions will continue in full force and effect.
• Entire Agreement: These Terms, together with any loan agreements, constitute the entire agreement between you and OgaCash.