Terms of Service | Summit Fundings

1. Acceptance of Terms; Binding Agreement

These Terms of Service (hereinafter referred to as “Terms,” “Agreement,” or “Terms of Service”) constitute a legally binding agreement between you (hereinafter referred to as “User,” “you,” or “your”), whether personally or on behalf of a business entity (hereinafter referred to as “Applicant” or “Business”), and Summit Fundings, LLC (hereinafter referred to as “Summit Fundings,” “Company,” “we,” “our,” or “us”), concerning your access to and use of the Summit Fundings website located at summitfundings.com (the “Site”), together with any related websites, mobile applications, platforms, tools, and services offered by the Company (collectively, the “Services”).

BY ACCESSING, BROWSING, OR OTHERWISE USING THE SITE OR SERVICES, YOU ACKNOWLEDGE THAT YOU HAVE READ, UNDERSTOOD, AND AGREE TO BE BOUND BY ALL OF THESE TERMS OF SERVICE. IF YOU DO NOT AGREE WITH ALL OF THESE TERMS OF SERVICE, THEN YOU ARE EXPRESSLY PROHIBITED FROM USING THE SITE AND SERVICES AND YOU MUST DISCONTINUE USE IMMEDIATELY.

Supplemental terms and conditions, policies, or documents that may be posted on the Site from time to time are hereby expressly incorporated herein by reference. The Company reserves the right, in its sole and absolute discretion, to make changes or modifications to these Terms at any time and for any reason. We will alert you of any changes by updating the “Last Revised” date of these Terms, and you waive any right to receive specific notice of each such change.

2. Nature of Services; Broker Disclaimer

Summit Fundings operates exclusively as an independent business funding broker and intermediary. THE COMPANY IS NOT A BANK, CREDIT UNION, DIRECT LENDER, OR FINANCIAL INSTITUTION OF ANY KIND. We do not make loans, extend credit, issue merchant cash advances, or otherwise provide funding directly to any applicant, business, or individual. Our role is strictly limited to facilitating introductions and connections between prospective business borrowers and our network of independent, third-party lenders, funders, and financial institutions (collectively, “Lending Partners”).

All funding decisions, including but not limited to the approval or denial of applications, the determination of funding amounts, interest rates, factor rates, repayment terms, fees, and all other material terms and conditions of any funding agreement, are made solely and exclusively by the applicable Lending Partner in its sole discretion. Summit Fundings has no authority, control, or influence over any Lending Partner's underwriting criteria, approval processes, funding decisions, or contractual terms.

The Company makes no representations, warranties, or guarantees whatsoever, express or implied, that: (a) any application submitted through the Site or Services will result in an approval of funding; (b) any particular funding amount, rate, or terms will be offered or made available; (c) any Lending Partner will respond to, review, or act upon any application; or (d) any funding will be disbursed within any particular timeframe.

3. Eligibility Requirements

By using the Site and Services, you represent and warrant that: (a) you are at least eighteen (18) years of age; (b) you have the legal capacity and authority to enter into and be bound by these Terms; (c) you are a duly authorized representative, officer, owner, or principal of the business entity on whose behalf you are submitting an application; (d) the business entity on whose behalf you are applying is a legally organized, validly existing business entity formed and operating in compliance with all applicable federal, state, and local laws within the United States of America; (e) you are not located in, and you are not a citizen or resident of, any jurisdiction in which the use of the Services would be prohibited or restricted by applicable law; and (f) your use of the Services will not violate any applicable law, regulation, rule, order, or directive.

4. Application Submissions; Accuracy of Information

You represent, warrant, and covenant that all Application Information you provide is true, accurate, current, and complete in all material respects at the time of submission. You further agree to promptly notify Summit Fundings of any changes to the Application Information. The submission of false, misleading, or fraudulent Application Information shall constitute a material breach of these Terms.

By submitting an application, you expressly authorize and consent to Summit Fundings and its Lending Partners taking any and all of the following actions: (a) obtaining and reviewing your personal and/or business credit reports; (b) verifying the Application Information through third-party sources; (c) contacting you by telephone, email, or postal mail regarding your application; and (d) sharing your Application Information with one or more Lending Partners for the purpose of evaluating and processing your funding application.

5. Fees, Commissions, and Compensation

Summit Fundings does not charge applicants any direct fee for the submission of a funding application. The Company may receive commissions, referral fees, finder's fees, or other forms of compensation from Lending Partners in connection with funded transactions (collectively, “Broker Compensation”). Such Broker Compensation is paid solely by the Lending Partner and does not increase or otherwise affect the cost of funding to you.

6. User Conduct; Prohibited Activities

You agree that you shall not:

Submit any Application Information that is false, fraudulent, misleading, deceptive, or materially inaccurate
Impersonate any person or entity
Use the Site or Services to engage in any illegal activity
Interfere with or disrupt the integrity or security of the Site or Services
Attempt to gain unauthorized access to any portion of the Site
Use any automated system to access or extract data from the Site without prior written consent
Reproduce, duplicate, copy, sell, or exploit any portion of the Site for commercial purposes without authorization
Upload or transmit any viruses, malware, or harmful code
Violate any applicable law, regulation, or ethical code

7. Intellectual Property Rights

The Site and all content, features, and functionality thereof are the exclusive property of Summit Fundings, its licensors, or content suppliers and are protected by United States and international intellectual property laws. You are granted a limited, non-exclusive, non-transferable, revocable license to access and use the Site solely for your personal, non-commercial use in connection with utilizing the Services.

8. Disclaimer of Warranties

THE SITE AND SERVICES ARE PROVIDED ON A STRICTLY “AS IS,” “WHERE IS,” AND “AS AVAILABLE” BASIS, WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND, EITHER EXPRESS, IMPLIED, OR STATUTORY. TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW, THE COMPANY HEREBY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, ACCURACY, COMPLETENESS, AVAILABILITY, SECURITY, AND COMPATIBILITY.

YOU ACKNOWLEDGE AND AGREE THAT YOUR USE OF THE SITE AND SERVICES IS AT YOUR SOLE RISK.

9. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL SUMMIT FUNDINGS, ITS PARENT COMPANIES, SUBSIDIARIES, AFFILIATES, OFFICERS, DIRECTORS, MEMBERS, MANAGERS, EMPLOYEES, AGENTS, REPRESENTATIVES, CONTRACTORS, LICENSORS, SERVICE PROVIDERS, SUBCONTRACTORS, SUPPLIERS, INTERNS, OR ASSIGNS (COLLECTIVELY, THE “COMPANY PARTIES”) BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES.

IN NO EVENT SHALL THE AGGREGATE LIABILITY OF THE COMPANY PARTIES EXCEED THE GREATER OF: (A) THE AMOUNT YOU HAVE PAID TO SUMMIT FUNDINGS IN THE TWELVE (12) MONTH PERIOD PRIOR TO THE EVENT GIVING RISE TO SUCH LIABILITY; OR (B) ONE HUNDRED DOLLARS ($100.00).

10. Indemnification

You agree to defend, indemnify, and hold harmless Summit Fundings and the Company Parties from and against any and all claims, actions, suits, proceedings, demands, damages, losses, liabilities, judgments, settlements, costs, and expenses arising out of or relating to: (a) your use of the Site or Services; (b) any breach of these Terms; (c) any breach of your representations and warranties; (d) any Application Information you submit; (e) your violation of any applicable law; (f) your violation of any rights of a third party; or (g) any dispute between you and a Lending Partner.

11. Dispute Resolution; Binding Arbitration

PLEASE READ THIS SECTION CAREFULLY AS IT AFFECTS YOUR LEGAL RIGHTS, INCLUDING YOUR RIGHT TO FILE A LAWSUIT IN COURT AND TO HAVE A JURY TRIAL.

Any Disputes shall be determined exclusively by binding arbitration administered by the American Arbitration Association (“AAA”) in accordance with its Commercial Arbitration Rules then in effect. The arbitration shall take place in New York, New York, before a single arbitrator.

YOU AND SUMMIT FUNDINGS EACH WAIVE THE RIGHT TO A TRIAL BY JURY. YOU AND SUMMIT FUNDINGS EACH WAIVE THE RIGHT TO PARTICIPATE IN A CLASS ACTION, COLLECTIVE ACTION, PRIVATE ATTORNEY GENERAL ACTION, OR OTHER REPRESENTATIVE PROCEEDING OF ANY KIND.

12. Governing Law; Jurisdiction

These Terms shall be governed by and construed in accordance with the internal laws of the State of New York. Any legal proceeding permitted outside of arbitration shall be brought exclusively in the state or federal courts located in New York County, New York.

13. Termination

The Company may, in its sole discretion, at any time and for any reason, suspend, restrict, or terminate your access to the Site or Services. Upon termination, your right to use the Site and Services shall immediately cease.

14. Severability; Waiver

If any provision of these Terms is held to be invalid, illegal, or unenforceable, such provision shall be modified to the minimum extent necessary to make it valid, or if not possible, severed from these Terms, and the remaining provisions shall continue in full force and effect.

15. Entire Agreement

These Terms, together with our Privacy Policy and any other legal notices published on the Site, constitute the entire agreement between you and Summit Fundings with respect to the subject matter hereof.

16. Assignment

You may not assign any of your rights or obligations under these Terms without the prior written consent of the Company. The Company may freely assign its rights and obligations without restriction.

17. Force Majeure

The Company shall not be liable for any failure or delay caused by circumstances beyond the Company's reasonable control, including acts of God, natural disasters, pandemics, war, terrorism, governmental actions, labor disputes, internet failures, power outages, or cyberattacks.

18. Contact Information

Summit Fundings, LLC
Attn: Legal Department
Email: legal@summitfundings.com