Terms & Conditions: 

1. Eligibility
1.1. Applicant must be a fully registered and active member of Liberty Hub Cooperative for a minimum of 6 months.
1.2. Applicant must have completed KYC and have an active Matrix Wallet account.
1.3. Applicant must not be in default on any existing Liberty Hub loan or have negative credit history with the cooperative.
1.4. Age: 18–65 years at the time of application.

2. Loan Application & Approval
2.1. All applications must be submitted through the official Liberty Hub portal or designated agent.
2.2. Approval is subject to credit assessment, available loan fund, member contribution history, and matrix level.
2.3. Liberty Hub reserves the right to approve, decline, or adjust loan amount and tenor without assigning reason.

3. Loan Amount, Tenor & Interest
3.1. Loan amounts range from ₦50,000 to ₦5,000,000, depending on member grade and cooperative policy.
3.2. Interest rate: 5%–6.5% per month flat.
3.3. Tenor: 1 to 12 months. Longer tenors require additional collateral or guarantors.

4. Disbursement & Repayment
4.1. Approved loans will be disbursed to the member’s Matrix Wallet or matrix account within 3–5 working days.
4.2. Repayment shall be made via monthly deductions, standing order, or direct payment as agreed in the loan agreement.
4.3. Early repayment is allowed without penalty, but interest for the current month remains payable.

5. Fees & Charges
5.1. A one-time processing fee of 1%–3% of the loan amount applies.
5.2. Late payment attracts a penalty of 5% per week on the overdue amount.
5.3. Legal and recovery costs arising from default shall be borne by the borrower.

6. Collateral & Guarantees
6.1. Loans may be secured by member matrix level, savings, guarantors, post-dated cheques, or other collateral as required.
6.2. Guarantors are jointly and severally liable for repayment in case of default.

7. Default & Recovery
7.1. A loan is in default if repayment is overdue by 10 days.
7.2. Liberty Hub may offset outstanding balances against member matrix balance, savings, shares, or benefits.
7.3. Persistent default may result in legal action, credit bureau reporting, and suspension of membership benefits.

8. Data Consent & Confidentiality
8.1. By applying, the member consents to Liberty Hub collecting, storing, and sharing credit data with credit bureaus and regulatory authorities as required by law.
8.2. All personal data will be handled in line with Nigeria’s Data Protection Act 2023.

9. General Provisions
9.1. These T&C form part of the loan agreement signed by the member.
9.2. Liberty Hub reserves the right to amend these terms with 30 days’ notice to members.
9.3. This agreement is governed by the laws of the Federal Republic of Nigeria. Disputes shall be resolved through arbitration in Abuja.

Declaration
By Agreeing/Submitting this application, I confirm that I have read, understood, and agree to be bound by these Terms & Conditions.

The information provided in this application shall not be shared to anyone else and is kept confidential