Terms of Use for Borrowers

Please read these terms and conditions carefully before using Our Service

Use of our Services

As an investor, you can find the applicable terms and conditions for using Crowd4Cash here

1. About Crowd4Cash

Crowd4Cash is a platform of Crowd Solutions AG. Crowd Solutions AG is a lender and provides the Crowd4Cash platform for lenders (investors) and borrowers. In addition, services relating to the processing of the loan, such as payment transactions, credit checks or activation on the platform, are provided.

The Crowd4Cash platform is licensed as a credit broker and lender. It is also a member of the self-regulatory organization PolyReg for compliance with money laundering regulations and of the Central Office for Credit Information ZEK. This means that it is indirectly subject to the Financial Market Supervisory Authority FINMA.

2. Scope of the Terms of Use

These terms of use for the use of the Crowd4Cash platform (www.Crowd4Cash.ch and subsites) ("Crowd4Cash" or "Crowd4Cash platform") are considered a "user agreement" between you and Crowd Solutions AG ("Crowd Solutions, us, we") as the operator of the Crowd4Cash platform. Crowd4Cash brings private borrowers and corporate borrowers (hereinafter referred to as "borrowers") together with private investors and corporate or institutional investors (hereinafter jointly referred to as "investors"). Borrowers and investors are also referred to below as "users".

Crowd4Cash is a platform of Crowd Solutions AG, Bellevueweg 42, 6300 Zug. Crowd Solutions AG handles the processing of contracts, payment flows and related activities (such as debt collection) in connection with the Crowd4Cash platform. Investors' and borrowers' payments are therefore made to a Crowd Solutions AG account. Payments in connection with the credit transactions are all processed via a transit account that is completely independent of the Crowd Solutions business account (segregation).

If a loan agreement is concluded, Crowd Solutions AG arranges for the payment of the investors and the disbursement of the loan amount to the borrower. Crowd Solutions AG is also responsible for collecting the interest and repayment installments from the borrower. Furthermore, Crowd Solutions AG forwards the amounts collected from the borrower (after deducting the lender fee to be paid to Crowd Solutions AG) to the investors.

3. How the Crowd4Cash platform works

Borrowers can post loan projects on Crowd4Cash and have them activated by Crowd Solutions AG after successful identification and credit check. Investors can generally decide to make binding financing commitments for loan projects activated on Crowd4Cash within the term defined by the borrower together with Crowd Solutions ("investment period"). If there are enough investors to fully finance a borrower's activated loan project, this will come about. If not enough investors have participated, the loan project will generally not come about. However, Crowd4Cash can agree an extension of the deadline with the borrower. After the grace period has expired, Crowd4Cash can make borrowers a non-binding offer to conclude a loan agreement for the amount covered by these financing commitments in cases where the loan amount originally requested by the borrower is not fully covered by financing commitments from investors after the investment period has expired ("incompletely financed loan project").

Crowd Solutions AG is not a bank. Rather, Crowd Solutions enables the borrower of a financed loan project to conclude a loan agreement via the Crowd4Cash platform under the specific conditions determined based on the credit check, provided that enough investors have agreed to provide financing and other conditions are met. The decision as to whether we put a borrower on the Crowd4Cash platform rests solely with us.

After financing has been completed, you as the borrower and the investors who participate in the financed loan project will receive a loan agreement. After the borrower has signed and the investor has confirmed the agreement, the current claims from the loan agreement will then be paid out to the investors in proportion to the amount of their financing commitment.

Crowd4Cash offers functions for non-binding and quick queries about possible loan amounts and financing conditions. Borrowers can use these functions to provide certain data about their planned loan projects and receive - after carrying out certain preliminary checks - non-binding information about maximum loan amounts. This information is intended to give the borrower initial non-binding indications, but does not represent a promise that a loan agreement for a specific amount and under specific conditions will be concluded, and does not otherwise establish any obligations on the part of Crowd Solutions.

4. Brokering of loans

As a borrower, you can also be referred to the Crowd4Cash platform by a loan broker. In this case, as a borrower, you will receive, among other things, this user agreement before the loan project is activated on Crowd4Cash. You must agree to this before a loan project can be activated on Crowd4Cash.

We cooperate with various banks and credit brokers at home and abroad and are planning such cooperations for the future. We can pass on data to cooperation partners as part of the financing.

In the event that the financing of a loan project does not materialize or the project cannot be financed by Crowd4Cash (negative credit check or similar), with the consent of the borrower, we can forward the documents for the loan project to our cooperation partners, who will then check whether they can finance the loan project or arrange financing for it. The borrower is always informed of the transfer and tacit consent is assumed accordingly, unless approval is refused immediately after the request or if further documents are submitted without objection. Our cooperation partners will save the data received and process and use it as part of their check to see whether they can finance the loan project and arrange financing for it. The processing of the data by the cooperation partners is carried out in accordance with the respective data protection guidelines of the cooperation partners.

5. Basics of the user agreement

The operator of Crowd4Cash and your contractual partner when using Crowd4Cash is:

Crowd Solutions AG
Bellevueweg 42
6300 Zug

E-Mail: [email protected]
Telefon: (+41) (0) 41 525 33 77

You can reach our customer service Monday to Friday from 9:00 a.m. to 6:00 p.m.

Our services are limited to the services according to this user agreement. Other offers or terms and conditions of users provided to us before or after conclusion of the user agreement do not apply unless we expressly agree to them. This also applies if we do not object to them in general or in individual cases.

6. Registration and membership

There is no entitlement to register and use the Crowd4Cash platform. By registering, these terms of use are accepted and are an integral part of the user agreement between the user and Crowd Solutions.

Requirements for private individuals

  • Residence in Switzerland or the Principality of Liechtenstein is mandatory (only applies to borrowers)
  • age of majority
  • Fully capable of action
  • A bank account in Switzerland or the Principality of Liechtenstein

Borrowers residing outside Switzerland or Liechtenstein or persons under 20 years of age are excluded from using the Crowd4Cash platform.

Requirements for companies

  • Trade register entry
  • Headquarters in Switzerland or the Principality of Liechtenstein
  • A bank account in Switzerland or the Principality of Liechtenstein

Private individuals and companies may only have one membership. The user account is personal and not transferable. The rights of use arising from the use may not be made accessible to third parties. Users are liable for improper use of the member account.

To conclude the user agreement, enter the data to be transmitted to us in the registration form on the Crowd4Cash platform and send it to us. By registering, you agree to these terms of use. Upon completion of the registration process (successful verification of the email address), the user agreement for your Crowd4Cash account as a borrower on Crowd4Cash is concluded.

If false information is intentionally provided during registration or when applying for a loan, Crowd Solutions has the right to terminate the user account without notice. The right to claim damages from the user remains reserved.

If there are indications that a member is violating applicable law or this user agreement, Crowd Solutions may warn the user or block the user account temporarily or permanently.

7. Identifikation

Crowd4Cash must identify users correctly as part of the legal identification requirement under the Money Laundering Act. To do this, the following steps must be carried out:

  • Upload an ID copy and a “selfie” of the user in the user area
  • Identification payment of CHF 5.- from a Swiss bank or postal account in the user's name

The identification payment made will not be refunded to the user.

Before complete identification, neither a loan application can be published nor a loan agreement concluded. Incomplete registrations can be deleted.

You are obliged to provide the information required for registration completely and truthfully and to keep it up to date at all times. We must be informed of any changes immediately. You are also obliged to keep your access data (especially your password) confidential; passing it on to third parties and using the Crowd4Cash account by third parties is prohibited. Please note that by signing the user agreement you also agree to be liable for damages resulting from a grossly negligent or intentional breach of this obligation. If Crowd Solutions is confronted with claims by another user or a third party due to such a breach, you are obliged to indemnify Crowd Solutions.

Crowd4Cash/Crowd Solutions will never ask you for your password.

8. Services of Crowd4Cash

According to the user agreement, we provide you with the Crowd4Cash platform as described in this user agreement as a contractual service. Crowd Solutions AG handles the processing of contracts, payment flows and associated activities (such as debt collection) in connection with the Crowd4Cash platform.

The granting of credit is not included in the user agreement (this is based on a separate credit agreement).

9. Services for borrowers

Crowd4Cash provides a formal framework for loan projects that ensures comparability and transparency for investors.

In order to be able to check the loan project, the borrower must provide us with further data. Crowd4Cash collects the following data from the borrowers in particular:

Private persons

  • Information about financial circumstances such as income and financial obligations
  • Operation information
  • Data on loan amount, term of the loan agreement, purpose of the loan
  • Title and description of the loan project
  • When providing security: details of the natural or legal person who is to provide security for the loan by guarantee

Company

  • Data about the company and its business model
  • Data on shareholders, bodies and authorized representatives of the company
  • Data on the company's financial indicators
  • Completing a qualitative questionnaire including management's assessment of the current and future business performance
  • Operation information
  • Title and description of the loan project
  • Data on loan amount, term of the loan agreement, purpose of the loan
  • When providing security: details of the natural or legal person or partnership that is to provide security for the loan by guarantee

Before the loan project is activated, we may ask you to provide us with the necessary details of a natural person, a legal person or a partnership that is to provide security for your loan by way of a guarantee. We can only accept natural persons, legal persons or partnerships with a place of residence or business in Switzerland or Liechtenstein as guarantors.

After you have entered all the required data and sent us all the necessary documents, you automatically release your loan project for review by Crowd Solutions. After submission, changes are possible until the loan project is activated by contacting Crowd Solutions. After that, changes are no longer possible.

As a user, you are solely responsible for the content of your presentation and the accuracy of the information you provide. As a general rule, we do not check the content. However, Crowd Solutions is entitled to make changes unilaterally.

Please note that if a loan agreement is successfully concluded, a fee plus any VAT (together the "Fee") will be due (see 19). You pay the fee as compensation for the use and services of Crowd4Cash.

Crowd4Cash enables private individuals to finance loan projects from a loan amount of CHF 1,000 up to CHF 250,000 with a term of between one month and five years. Companies can finance projects from CHF 5,000 up to CHF 500,000 with a term of between one and five years.

10. Insurance

If the borrowers are natural persons, there is mandatory insurance coverage which, in the event of death as a result of an accident or illness, covers the outstanding remaining debt at the time of death. In addition, Crowd Solutions AG offers an optional insurance solution which, in addition to death, also covers incapacity to work, unemployment and divorce. By signing the loan agreement, you as the borrower confirm that you agree to take out residual debt insurance on your life and that you have received and read the General Insurance Conditions (GTC) including the product information sheet and that you accept the provisions contained therein. Crowd Solutions is entitled to the insurance benefit. Crowd Solutions undertakes to use the insurance benefit exclusively to fulfil its contractual payment obligations (repayment of the remaining debt) from the loan agreement to its investors as lenders.

11. Review and decision by Crowd Solutions

As soon as we have received the necessary data and documents, we will carry out an examination of the loan project based on this information and a credit report of the borrower and his legal representative from third parties (e.g. CRIF, Intrum AG, Bisnode Central Office for Credit Information [ZEK]) carried out with the consent of the borrower. You hereby expressly agree that we may obtain such information about the borrower and the legal representatives. In this way, we determine on the one hand whether you qualify for a loan and on the other hand a credit rating, which serves as a guide for the investor. The better this credit rating, the lower the interest rates are possible. If, in the case of a loan project of a borrower, security must be provided by a guarantee, a credit report on the guarantor will also be obtained. There is no entitlement to activation of a loan project. The decision as to whether your loan project is activated rests solely with Crowd Solutions. Crowd Solutions can refuse to activate your loan project without giving reasons.

We will let you know the decision as to whether and, if so, at what interest rate we will activate the loan project. After confirmation from you, we will activate the project on Crowd4Cash.

If the test is negative, we cannot activate your loan project. In this case, however, you can remain registered on Crowd4Cash and set up a new loan project on Crowd4Cash at a later date.

If there is suspicion of attempted fraud, Crowd4Cash reserves the right to block the account and to charge the user for any claims for damages or reimbursement of expenses. Attempted fraud will be reported in all cases.

12. Authorization to provide information to ZEK / IKO

The borrower authorizes Crowd Solutions AG to obtain all information required for the processing of the loan agreement from public offices, the Central Office for Credit Information (ZEK) and the Information Office for Consumer Credit (IKO) and to report the loan agreement and its processing to the ZEK and the IKO. Any data blocks ordered by the borrower are irrevocably deemed to have been lifted vis-à-vis Crowd Solutions AG. The borrower acknowledges that the ZEK and the IKO will inform the credit institutions affiliated with them of the credit obligations upon request in the event of a new leasing or loan application.

13. Investment period; financing of the loan project

Once activated, a borrower's loan project is available on Crowd4Cash for the duration of the desired investment period for the submission of financing commitments. We can extend the investment period for a borrower's loan project for a reasonable period of time if we consider this appropriate, taking into account the interests of the borrower and the investors.

As soon as enough investors have made financing commitments within the investment period to fully finance the loan project, the investment period ends early.

If after the investment period has expired there is only an incompletely financed loan project, we can make the borrower a non-binding offer to conclude a loan agreement for this incompletely financed loan project within a maximum of two weeks after the investment period has expired. The decision to make this offer rests solely with Crowd Solutions.

If, at the end of the investment period, there are not enough investors to fully finance the loan project and we do not make a non-binding offer to conclude a loan agreement for an incompletely financed loan project (or if a loan agreement is not concluded), the loan project will expire without replacement, along with all financing commitments made by investors.

14. Blocking of the loan project

We may reverse the activation for important reasons or temporarily block the relevant credit project (for example, if illegal or grossly misleading information is provided or if there are reasonable doubts about the accuracy of the information). Crowd Solutions AG reserves the right to make a claim for damages in these cases.

15. Crowd4Cash services for investors

Investors can view a borrower's loan projects activated on Crowd4Cash during the current investment period. Investors can freely decide whether and with what amount - at least CHF 500 - they would like to participate.

16. Lending

Crowd Solutions AG does not conduct any banking transactions or provide any financial services. We limit our services to making Crowd4Cash available to you in accordance with the terms of the user agreement. The conclusion of the user agreement does not give you any rights to conclude further contracts with Crowd Solutions; in particular, you have no right to conclude a loan agreement.

If a fully financed loan project is created on Crowd4Cash, we will send you, as the borrower, the contract documents. In the case of an incompletely financed loan project, we can send you, as the borrower, the documents relating to an incompletely financed loan project upon request.

Crowd4Cash provides you, as the borrower, with the loan agreement on Crowd4Cash for download. You, as the borrower, conclude this agreement with Crowd Solutions AG.

We will then make this contract available to you in your user area for confirmation so that you can access it at any time if required.

If security is to be ordered, we will send you a guarantee contract by email. This contract must be signed by the named guarantor(s).

Please upload the loan agreement signed by you or, in the case of companies, the person(s) authorized to sign it and (if applicable) the guarantee agreement signed by the guarantor as a scan to your user account as soon as possible after it has been made available or alternatively send it by A-Post to the following address:

Crowd Solutions AG,
Bellevueweg 42
6300 Zug

17. Credit processing / payments

Crowd Solutions carries out the payment transactions for the loan disbursement and repayment and monitors the timely payments of the loan. The fee agreed in this user agreement in our favor will be retained directly by Crowd Solutions when the money is paid out to you as the borrower. In any case, the payment information sent by Crowd4Cash with the reference must be used for payments. Payments must be made by bank or postal transfer. Payments at the counter are not permitted and the resulting costs will be charged separately to the person responsible.

Crowd Solutions is authorized to issue invoices and payments and to issue reminders on behalf of the users. In particular, it can terminate or cancel credit agreements prematurely on behalf of the users in the event of default or breach of contractual obligations.

Crowd Solutions may pay to a previously designated payment office with a discharging effect towards the recipient if payment is not possible in any other way.

18. Reminders, default and debt collection

When repaying the loan, the borrower is in default on the day after the due date of the claim without further reminder. From this day onwards, the borrower must pay default interest on the outstanding amount in the amount of the agreed effective annual interest rate.

Crowd Solutions issues the reminder on behalf of all investors. A reasonable grace period is granted for payment. Reminders are subject to a fee and are charged as a flat rate as compensation for Crowd4Cash's expenses. The first reminder costs CHF 25, the second reminder costs CHF 50 and the third reminder costs CHF 80. The reminder fees are invoiced separately and are due in addition to the installments.

Crowd Solutions is entitled to initiate pre-legal debt collection on behalf of and in the name of all investors. If this is unsuccessful, Crowd Solutions will initiate legal debt collection. Crowd Solutions can act itself or commission third parties to carry out both pre-legal and legal debt collection. Both a partial amount and the entire amount owed can be assigned to third parties.

During the measures initiated by Crowd Solutions, investors are obliged to refrain from taking any action against the defaulting borrower. After communication regarding the termination of the measures initiated, investors are entitled to take steps independently.

For the inconvenience caused by the delay, the debtor will be charged, in addition to the costs incurred, a compensation of CHF 150 per hour calculated according to the expenditure. Any claims for damages remain reserved in any case.

Outstanding claims will be passed on to a debt collection service provider after two reminders. Costs in the event of late payment: processing fee (from day 70 after the invoice date at the earliest, when handed over to a debt collection service provider) depending on the amount of the claim, maximum amount in CHF: 50 (up to 20); 70 (up to 50); 100 (up to 100); 120 (up to 150); 149 (up to 250); 195 (up to 500); 308 (up to 1,500); 448 (up to 3,000); 1,100 (up to 10,000); 1,510 (up to 20,000); 2,658 (up to 50,000); 6% of the claim (from 50,000).

Fees

Registration
Registration and use of the Crowd4Cash platform is free.

Fees
When the loan agreement is concluded or an investment is made by the investor, a fee is charged. This depends on the investment or loan amount. It is for

  • Borrower: 0.80% per year term and 0.25% administration fee on the outstanding amount (evenly distributed over the individual installments)
  • Investors: 0.85% per year on the outstanding capital

The fee covers the services of granting the loan and all aspects of processing the loan, such as payment transactions during the term, drawing up the contract or placing the loan on the platform.

The fees are calculated on the loan amount. The fee is deducted from the borrower's loan amount for the entire term. For investors, 1/12 of the annual fee is deducted directly from the monthly installment.

Third-party expenses, e.g. payments at the post office counter, collection costs or costs for providing security will be invoiced separately.

The fee table published on the website applies to all fees.

reminder fees

The first reminder will cost CHF 25, the second reminder CHF 50 and the third reminder CHF 80.

Expense allowance

Crowd4Cash can charge an expense allowance of CHF 150 per hour if the user has to be sanctioned due to a violation of applicable law or the terms of use. The same compensation is due for debt collection activities or any enforcement proceedings, and is to be paid independently of the reminder fee.

20. Change of data

If you are registered on Crowd4Cash, you can always view your data during the term of the user agreement and change it in accordance with these terms of use.

The customer is obliged to immediately notify us in writing of any change of name or address (including changes to email address and mobile phone number).

You can download and print the current user agreement at any time on Crowd4Cash.

21. Data Protection

Crowd4Cash stores user data on servers in Switzerland. The data is used exclusively to provide the services. Crowd Solutions is entitled to make the data available to employees and commissioned third parties as part of the provision of services. Crowd4Cash takes precautions to protect this data.

Personal data will be treated in accordance with Crowd4Cash's privacy policy and applicable data protection regulations and protected against unauthorized access. The privacy policy is an integral part of these terms of use.

Under certain circumstances, the data may be processed or circulated via servers located abroad. The user agrees to the processing of the data under the circumstances described above.

22. Kommunikation

Communication between Crowd4Cash and the users of the platform takes place electronically, among other things. It should be noted that confidentiality cannot be fully guaranteed when communicating via email. Emails can be read, forged, falsified or deleted by third parties. In addition, malicious computer programs can be sent. By registering, the user accepts communication via email and the storage of data on Crowd4Cash's servers. Crowd4Cash assumes no liability for the security of electronically transmitted data.

Crowd4Cash/Crowd Solutions will never ask you for your username or password by phone or email. Such requests will not be answered and will be reported to Crowd Solutions.

23. Availability of Crowd4Cash

The user agreement only obligates Crowd Solutions AG to keep Crowd4Cash available for use during the availability periods specified by us. We aim to ensure availability at all times, but Crowd Solutions AG is not obliged to do so. If Crowd4Cash requires maintenance, technical measures or the security of Crowd4Cash require this, or if we are exposed to events that we cannot influence (e.g. failure of telecommunications networks, data transmission by third parties, energy supply, natural disasters, etc.), we are entitled to partially or completely stop the availability of Crowd4Cash.

24. Limitation of Liability/Exclusion of Liability

The content presented on Crowd4Cash is for information purposes only; no advisory service is offered on Crowd4Cash or by Crowd Solutions. We only carry out a limited review of borrowers according to certain formal and technical criteria, which do not allow any statements to be made as to whether the information and details provided are correct. We have no influence on the effectiveness of the contracts between borrowers and third parties and their implementation and fulfillment; we are therefore not liable for this.

Crowd Solutions is only liable for damages caused intentionally or through gross negligence. Liability is excluded for indirect or consequential damages. Liability for services provided by third parties that Crowd Solutions calls in to provide the service is excluded.

Any liability for direct or indirect damages resulting from the use of the Crowd4Cash platform is excluded. No liability or warranty is assumed in particular for the following points:

  • All losses arising from loans
  • Any damage caused by other users or third parties
  • Validity and effectiveness of the contracts between the borrower and investor
  • Ratings or credit ratings
  • solvency of the debtor
  • Falsified or falsified documents that serve as the basis for granting credit

Furthermore, liability is excluded for damages arising from the following technical reasons:

  • Platform failures
  • User access restrictions
  • Power outages
  • Delays in data transmission
  • Manipulation of the Crowd4Cash platform, such as through viruses or Trojans

We constantly check and update the information provided on Crowd4Cash. Despite all care, the data may change in the meantime. We therefore cannot accept any liability or guarantee that the information provided is up-to-date, correct and complete.

We work with partners to identify our users and carry out credit checks. However, we cannot guarantee that the information sent to us by third parties is correct.

Any linked sites are not checked and Crowd Solutions assumes no responsibility for the accuracy, quality and security of the linked sites.

If Crowd Solutions is confronted with claims of any kind by another user or third party due to the behavior of a user, the responsible user must indemnify Crowd Solutions. This includes claims as well as the costs and expenses incurred by Crowd4Cash.

25. Transfer of rights and obligations to third parties

Crowd Solutions AG is entitled to transfer individual or all rights and obligations to third parties. This expressly includes the right to resell the claim to third parties.

26. End of the user relationship/termination of the user agreement

Users can terminate their subscription at any time in writing by email or post to Crowd Solutions AG, Bellevueweg 42, 6300 Zug with a notice period of two weeks to the end of the month if the following conditions are met cumulatively:

  • No outstanding loans. Existing loans have been repaid in full.
  • There are no outstanding claims in favor of Crowd Solutions.
  • There is no current loan request on the Crowd4Cash platform.
  • The termination is effective from the date of confirmation by Crowd4Cash. Pending loan applications will be deleted without replacement.
  • The user is not involved as an investor in ongoing financing.

Termination of the user agreement with Crowd Solutions has no influence on the validity of the other contracts.

27. Severability Clause

Should individual provisions of these terms of use be invalid and/or ineffective in whole or in part, the validity and/or effectiveness of the remaining provisions or parts of such provisions shall remain unaffected. The invalid and/or ineffective provisions shall be replaced by provisions that come closest to the meaning and purpose of the invalid and/or ineffective provisions in a legally effective and economic manner. The same applies to any other contracts in writing between Crowd Solutions and the user.

28. Changes to the General Terms and Conditions (Terms of Use)

Crowd4Cash reserves the right to change the terms of use at any time.

Changes to the terms of use will be sent to all users by email 14 days before they come into effect. If no written objection is received within 10 days, the new terms of use will replace the previous ones without replacement. The terms of use come into effect when published on the Crowd4Cash platform.

29. Applicable law/place of jurisdiction

Swiss law applies to the relationship between Crowd Solutions / Crowd4Cash and a contractual partner / user. The exclusive place of jurisdiction for all legal disputes in connection with the terms of use and the use of Crowd4Cash is the city of Zug.