Ginger’s Terms and Conditions

    Welcome to Ginger’s Lending Program. By applying for a loan or using the services provided through this program, you agree to comply with and be bound by the following Terms and Conditions. Please read these terms carefully before proceeding.

    1. General Terms

    • • Eligibility:

      To be eligible for the Ginger Lending Program, you must be a registered business within the beauty industry operating in Africa. You must provide all necessary documentation, including business registration, financial records, and other required verification materials.

    • • Agreement to Terms:

      By submitting a loan application, you acknowledge that you have read and understood these terms and agree to be bound by them.

    • • Changes to Terms:

      Ginger reserves the right to modify or update these Terms & Conditions at any time. Any changes will be posted on this page, and your continued use of the Lending Program constitutes your acceptance of these changes.

    2. Loan Application Process

    • • Application Submission:

      To apply for a loan, you must complete the online application form and provide required documentation for verification.

    • • Verification:

      Upon submission, your application will be reviewed, and third-party verification may be conducted to assess your creditworthiness and eligibility.

    • • Approval:

      Ginger will inform you of your loan approval status. Approved loans will be subject to the terms outlined in this agreement.

    • • Loan Amount and Terms:

      The loan amount, interest rate (if applicable), repayment period, and other terms will be provided to you at the time of loan approval. These terms are binding and will be part of the final agreement.

    3. Repayment Terms

    • • Repayment Period:

      Loans provided through Ginger’s Lending Program must be repaid within the specified repayment period, which ranges from 2 to 12 months, depending on the loan terms.

    • • Payment Method:

      Repayments are made via bank transfer, mobile money, or other agreed-upon methods. Payments are due monthly or as outlined in your repayment schedule.

    • • Late Payments:

      If payments are not made by the agreed-upon due dates, a late payment penalty will be applied to the overdue amount. Ginger reserves the right to take legal action to recover overdue payments if necessary.

    • • Early Repayment:

      Borrowers may repay the loan early without penalty unless otherwise stated in the loan agreement.

    4. Fees and Charges

    • • Financing Fees:

      The loan may include interest charges and fees, which will be disclosed to you during the loan approval process. The interest rate typically ranges from 8% to 15% per annum, depending on your eligibility and loan size.

    • • Payment Processing Fees:

      A processing fee will be applied to each transaction made through the platform to facilitate payments. This fee is in addition to the loan amount and interest.

    • • Service Fees:

      Ginger may charge a service fee on the loan amount to cover operational and platform costs.

    5. Loan Disbursement

    • • Inventory Procurement:

      Once your loan is approved, Ginger will handle the procurement of inventory directly from verified suppliers. The inventory will be delivered to your business, and you will be notified upon delivery.

    • • Use of Loan Funds:

      Loans provided through this program are specifically intended for inventory purchase. Use of funds for purposes outside of inventory procurement may result in the loan being recalled and additional penalties.

    6. Privacy and Data Protection

    • • Data Collection:

      By applying for a loan, you consent to the collection, storage, and use of your business and financial information in accordance with our Privacy Policy.

    • • Third-Party Verification:

      Ginger may share your information with third-party partners (e.g., credit verification services) to assess your loan application.

    7. Dispute Resolution and Governing Law

    • • Dispute Resolution:

      In the event of a dispute, Ginger will attempt to resolve the issue through mediation or arbitration before taking legal action.

    • • Governing Law:

      These Terms & Conditions are governed by the laws of Nigeria. Any legal matters will be addressed in the courts of Lagos state.

    8. Loan Default and Legal Action

    • • Loan Default:

      If the borrower defaults on the loan by failing to make timely payments and the loan is not repaid according to the terms, Ginger reserves the right to take necessary legal steps to recover the outstanding amount.

    • • Legal Recourse:

      If the loan remains unpaid beyond the grace period, legal recourse may be initiated, including but not limited to debt collection, garnishment of business assets, and reporting to credit agencies.

    9. Liability and Limitation

    • • Liability:

      Ginger is not liable for any damages or losses resulting from the use of the financing program, including but not limited to inventory procurement, delays, or failure to meet repayment terms.

    • • Force Majeure:

      Ginger will not be held liable for any delays in loan disbursement or repayment due to circumstances beyond its control, such as natural disasters, government restrictions, or technical failures.

    10. Termination of Agreement

    • • Termination by Ginger:

      Ginger reserves the right to terminate the loan agreement at any time if the borrower fails to meet the conditions outlined in these Terms & Conditions or breaches any agreement clauses.

    • • Termination by Borrower:

      The borrower may terminate the agreement if the loan has not been disbursed. Once disbursed, the loan terms and repayment obligations are binding.

    11. Contact Information

    For questions or concerns regarding these Terms & Conditions, please contact us at:

    By applying for a loan through Ginger, you acknowledge that you have read, understood, and agree to be bound by these Terms & Conditions.