Terms & Conditions for Presto Loans
Legal Disclaimer
Presto Loans provides access to capital to those who do not otherwise qualify, allowing people to uplift themselves out of poverty with the power of their own ingenuity. The explanations and information provided on this page are only general and high-level explanations and information on the terms and conditions for obtaining loans. You should not rely on this article as legal advice or as recommendations regarding what you should actually do, as the terms and conditions may vary based on individual circumstances. We recommend that you seek legal advice to help you understand and to assist you in the creation of your own terms and conditions for obtaining a loan.
Understanding the Terms & Conditions
Having said that, the terms and conditions for obtaining a loan are a set of legally binding terms defined by Presto Loans, as the provider of this service. The terms and conditions set forth the legal boundaries governing the activities of the loan applicants and recipients. The terms and conditions are meant to establish the legal relationship between the loan recipients and Presto Loans as the provider.
What to Include in the Terms & Conditions Document
Generally speaking, the terms and conditions for obtaining a loan often address these types of issues: Who is eligible to apply for the loan; the repayment methods and schedule; a declaration that Presto Loans may change its offerings in the future; the types of agreements the loan recipients enter into; a reference to issues of collateral or guarantees, where relevant; Presto Loans' right to modify or terminate a loan agreement; and much more. To learn more about this, check out our article on 'Understanding Loan Terms and Conditions'.