Terms and Conditions

Introduction

Welcome to the LoanFren website. By accessing or using this site and any related services provided by LoanFren Ltd., you agree to comply with and be bound by these Terms and Conditions.

These Terms apply to users, customers, applicants, co-signers, and visitors, and outline your legal rights and obligations as well as ours.

Eligibility Requirements

• You must be at least eighteen years old.
• You must be a resident of Trinidad and Tobago.
• You must hold a Trinidad and Tobago Dollar bank account in your own name.
• You must provide valid identification and supporting documentation upon request.

Loan Application Process

Applicants must complete the online application form. Applications are subject to review and approval by the LoanFren team. Approved applicants may be required to sign and submit a Loan Agreement, invoice, salary deduction or payroll authorization documents, and any additional supporting documents requested.

Loan proceeds are disbursed only after all required documents are received and approved.

Interest Rates, Fees, and Charges

LoanFren's standard interest rate is 4% per month, equal to 48% per annum. A non-refundable administration or service fee may be charged for managing and servicing the loan.

The borrower authorizes LoanFren to deduct the administration or service fee from loan proceeds before disbursement or add it to the principal balance of the loan. All fees paid through the site are final and non-refundable.

Payment Terms

By accepting a loan, you promise to repay principal, interest, fees, and charges according to your Loan Agreement and repayment schedule. Borrowers may repay early, but no rebate or reduction of interest applies unless stated in writing.

Late payment penalties may apply if payment is not received by the due date. Deferrals, extensions, or modified repayment arrangements must be approved by LoanFren in writing.

Default and Collections

If payments remain outstanding, LoanFren reserves the right to initiate debt recovery proceedings, including legal action. Collection expenses, legal fees, agency commissions, court expenses, and recovery costs may be added to the outstanding loan balance.

Privacy and Data Protection

LoanFren collects and uses personal information only as necessary to provide services and manage accounts. Personal information is retained only as long as reasonably necessary for legal, operational, and regulatory purposes.

For more detail, read our Privacy Policy and Cookie Policy.

Governing Law and Jurisdiction

These Terms and related agreements are governed by the laws of Trinidad and Tobago, including the Moneylenders Act, Chapter 84:04. Disputes are subject to the exclusive jurisdiction of the courts of Trinidad and Tobago.