Terms of Use

Effective Date: February 01, 2017

Thank you for using www.smartloan.com.ng, (the “Website”). By using this Website, you are agreeing to be bound by the Terms of Use described below, so please read them very carefully. IF YOU DO NOT WISH TO BE BOUND BY THESE TERMS OF USE, YOU MAY NOT ACCESS OR USE THE WEBSITE. These Terms of Use are provided on behalf of SmartLoan (SL), and their affiliates (together, “Infocrest Cooperative”, “we”, or “us”).


Your privacy is very important to us. Our privacy policy explains how we treat your personal information and protect your privacy when you use our Website. We will not share or sell any of your information with any third party, except as specifically described in our privacy policy, which is hereby incorporated by reference into these Terms of Use.

Information Sharing and Social Features

You may have the opportunity to share content or information, including, but not limited to, your name, email address, or other information that you provide via the Website, with other users of the Website. By sharing information or content on the Website, you expressly agree to all of the following:
  • You grant SmartLoan (SL) a non-exclusive, transferable, sub-licensable, royalty-free, worldwide license to use any information or content that you post on or in connection with your use of the Website, subject to the privacy provisions described in our privacy policy.
  • You understand that deleted content or information may continue to exist on our servers or in backup copies that we maintain for our own use.
  • You will not post content or take any action on the Website that may constitute libel or slander, infringes or violates someone else’s rights, that is protected by any copyright or trademark, or otherwise violates the law.
  • Content and information that you share will be available to other users of our Website. You understand that such third parties may access, use, store and transfer such content and information and to associate it with you.
  • You agree that you will not use the Website for commercial purposes.
  • We may remove any content or information that you share on the Website for any reason.
You agree that you will not use any device, software or routine to interfere or attempt to interfere with the proper working of the Website or any transaction being conducted on our Website.

Loan Pre-Registrations and Applications

You may be presented with the opportunity to pre-register and/or apply for a loan through the Website. When pre-registering or applying for a loan on the Website, you agree to provide current, complete, and accurate information about yourself. If any information you provide is untrue, inaccurate, not current, or incomplete, SmartLoan (SL) has the right to terminate your loan pre-registration and/or application and to decline to provide any and all future use of the Website. We reserve the right to decline your application for a loan.

Your Account

You may be required to create an Account to use of the certain parts of the Website. When you create an account, you will be required to pick a user name and a password. You may not disclose your user name or password to any third party. If you learn of any unauthorized use of your password or account, please contact us immediately

Changes and Modifications

SmartLoan (SL) reserves the right to temporarily or permanently modify or discontinue the Website, or any portion of the Website, for any reason, at our sole discretion, and without notice to you. SmartLoan (SL) may also change the Terms of Use from time to time without notice to you. Please review these Terms of Use from time to time, because your continued access or use of the Website after any modifications have become effective shall be deemed your conclusive acceptance of the modified Terms of Use.


This Website may contain links to websites maintained by non-affiliated third parties. Such websites may have Terms of Use, Privacy Policies, or security practices that are different from those of SmartLoan (SL). SmartLoan (SL) does not endorse or recommend, and hereby disclaims any liability for, any information or products offered at such websites.

No Warranty

SmartLoan (SL) does not warrant the accuracy, adequacy or completeness of the information provided herein and expressly disclaims liability for any errors or omissions in such information. No warranty of any kind, implied, expressed or statutory including but not limited to the warranties of non-infringement of third party rights, title, merchantability, fitness for a particular purpose and freedom from computer virus, is given in conjunction with the information. Calculators and tools on the Site provide you with ESTIMATES that may be different than actual amounts.

Limitation of Liability

You agree that all access and use of the Website and its contents is at your own risk. In no event shall SmartLoan (SL) be held liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with the Website or any linked site or use thereof or inability to use by any party, or in connection with any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure, even if SmartLoan (SL), or representatives thereof, are advised of the possibility of such damages, losses or expenses.


Our privacy policy explains how we treat your personal information and protect your privacy when you use our Website. Our privacy policy is hereby incorporated by reference into these Terms of Use.

Applicable Law

You agree to abide by all applicable local, state, national, and international laws and regulations in your use of the Website. Our Website is available only to individuals who are permitted to use it under applicable law. If you do not qualify, please do not use our Website. You agree to be solely responsible for your actions and the contents of your transmissions through the Website. You agree not to impersonate any person or entity or falsely state or otherwise misrepresent your identity or affiliation with a person or entity. You represent and warrant that you possess the legal right and ability to enter into these Terms of Use and to use the Website in accordance with these Terms of Use. Unauthorized use of this Website, including but not limited to unauthorized entry into SmartLoan (SL)’s systems, misuse of passwords, or misuse of any information posted on a site, is strictly prohibited.Please direct all questions or comments about these Terms of Use to info@smartloan.com.ng COPYRIGHT © SmartLoan (SL), Inc. ALL RIGHTS RESERVED. SmartLoan (SL) owns the copyright in all of the information and material contained in this Website. The contents of the website, including its “look and feel” (e.g., text, graphics, images, logos, and button icons), editorial content, notices, software (including html-based computer programs), and other material are protected. Your right to use the Website is personal to you. You agree not to reproduce, duplicate, copy, sell, resell, use or exploit for any commercial purposes, the Website or use of or access to the Website or any information or technology obtained from the Website.



Failure to pay off any loans taken trigger a notice to the consumer credit reporting agency which would negatively impact an individual’s credit score. Late payments can also affect ability to borrow in the future, so please ensure timely repayments of obligations.


A SmartLoan (SL)loan attracts a 10% flat charge for 30 days. It is intended to meet urgent, short-term cash needs. Because of this, we have limited the available amount to N10, 000 (for first-time applicants) and loan duration to 30 days. Please do not take a SmartLoan (SL) loan if you intend to service long-term debts.


  1. The Transaction Fee for the use of the SmartLoan (SL) Account shall be up to a flat 10% fixed for the term of this loan which is usually 30 days
  2. The transaction fee does not preclude The Lender from charging default fees, penalty fee and in the event of any dispute arising from these Terms and Conditions – the cost of Litigation/Solicitors’ fees.
  3. The Transaction fee may be increased or decreased from time to time by the Lender. Such change in Transaction fee will take effect on the Borrower’s account following a minimum of 15 days written notice.
  4. Total transaction fee of the term of the loan will still be due in the event of the Borrower liquidating the loan before expiration.


You can re-apply for another loan immediately after your loan amount is fully paid off and may qualify for higher credit at a lower rate. There are no fees required to process a loan renewal.


If you find yourself in a situation that makes it difficult to make your scheduled repayment, please contact us immediately by writing to customer@smartloan.com.ng.
We do our best to help our customers avoid these situations and the resulting consequences which can include:

  • Suspension of your access to our lending service
  • Reporting your account delinquency to multiple credit bureaus
  • Involvement with external collection agencies
  • Possible legal action

Remember, a positive outcome for you is a positive outcome for us, so let us assist you with working through and finding a solution to any issues you may face during the loan period.


  1. To pay to us, the loan sum, including any convenience, default or penalty fees, flat interest rate, and other amounts due to the Lender charged to this Account. Borrower promises to pay these amounts as agreed in this Agreement on or before the Payment Due Date.
  2. The Lender reserves the right to presume that the Borrower has authorized any loan application made in the name of the Borrower using this Account. The Borrower will be deemed responsible for any unauthorized application using this Account unless the Borrower notifies the Lender of imminent fraud by another person on his account within 24 hours of such fraud.
  3. To repay the loan given to you and/or to someone you authorized to use this Account via direct cash transfer to a bank account listed by the Lender, an electronic debit from the card/account you provided on the due date. The Lender reserves the right to accept early repayment before the Payment Due Date, provided the Borrower has given adequate notice and repays full loan along with the flat interest rate.
  4. To give The Lender authentic and up-to-date personal, social media, phone and financial records about you that we may reasonably request and analyze, from time to time.
  5. To pay all costs of collection if we take any action to collect this Account or take any action in a bankruptcy proceeding filed by or against you. This shall include, unless prohibited by applicable law, reasonable attorneys' fees and expenses incurred while collection lasts.
  6. Not to give us false information or signatures, electronic or otherwise, at any time.
  7. To pay a Late Fee or penalty fee as may be provided in this terms and conditions.
  8. To make all payments via direct debit on cards or by electronic funds transfer as stated in the application form.
  9. To promptly notify us if you change your name, your mailing address, your e-mail address or your telephone number.
  10. To honor any other promises that you make in this Agreement.
  11. That you will not accept this Account unless you are of legal age and have the capacity to enter into a valid contract.
  12. To fill out the application form (as provided) with accurate information and details as required.


  1. To make available the loan/credit facility to the Borrower of a figure not less than N2,000.00 (Two  Thousand Naira only)
  2. To perform (a) above upon confirmation of the Borrower’s identity and personal information
  3. To demand repayment for the Borrower as and when due
  4. To conduct investigations on the Borrower prior to opening an account for the Borrower
  5. To use all reasonable and legitimate means to collect the amount extended to the Borrower, the default fee, the transaction fees and any other penalty fee imposed on the Borrower as a result of the loan.
  6. Not to store or save Borrower’s debit or credit card details given by the Borrower in the application form


The Borrower agrees that The Lender may communicate with them by sending notices, messages, alerts and statements in relation to this Agreement in the following manner:

  1. To the most recent physical address The Lender holds for the Borrower on file
  2. By delivery to any email address provided during the application process.
  3. By delivery of an SMS to any mobile telephone number the Borrower has provided to The Lender.
  4. By posting such notice on the Lender’s website


Default in terms of this Agreement will occur if:

  1. The Borrower fails to make any scheduled repayment in full on or before the payment due date in accordance with the repayment plan given to the Borrower;
  2. Any representation/information, warranty or assurance made or given by the Borrower in connection with the application for this loan or any information or documentation supplied by the Borrower is later discovered to be materially incorrect; or
  3. The Borrower does or omits to do anything which may prejudice The Lender’s rights in terms of this Agreement or causes The Lender to suffer any loss or damage.

In the event of any default by the Borrower subject to clause above –

  1. The Lender reserves the right to assign its right, title and interest under the Agreement to an external Collections Agency who will take all reasonable steps to collect the outstanding loan amount.
  2. The Lender also reserves the right to institute legal proceedings against the defaulting Borrower and is under no obligation to inform the Borrower before such proceedings commence
  3. The Borrower shall be responsible for all legal costs and expenses incurred by The Lender in attempting to obtain repayment of any outstanding loan balance owed by the Borrower. Interest on any amount which becomes due and payable shall be charged.


  1. In addition to Termination by default, we may terminate this Agreement at any time and for any reason subject to the requirements of applicable law.
  2. We can terminate your Account by sending written notice to the address on your application.
  3. If there is no debit or credit on this Account for twelve (12) consecutive months, we may terminate this Account without notice to you.
  4. When Termination arises as a result of default, you will not be able to apply for credit in future


  1. This Agreement represents the entire understanding between The Lender and the Borrower.
  2. Amendment shall be made by the Lender from time to time and communicated to the Borrower in writing.
  3. The Borrower agrees and undertakes that for the period of this Agreement, the Borrower will not close the Borrower’s specified bank account.
  4. This Agreement shall be governed by the laws of the Federal Republic of Nigeria and shall be subject to the jurisdiction of the courts of the Federal Republic of Nigeria.
  5. If The Lender does not strictly enforce its rights under this Agreement (including its right to insist on the repayment of all sums due on the Repayment Due Date) or grant the Borrower an indulgence, The Lender will not be deemed to have lost those rights and will not be prevented from insisting upon its strict rights at a later date.
  6. The Lender reserves the right to transfer or assign its rights and obligations under this Agreement (including its obligation to lend money to the Borrower or the amount owed under this Agreement) to another person. The Lender will only inform the Borrower if such a transfer causes the arrangements for the administration of this Agreement to change.
  7. The Borrower authorizes and consents to all lawful access, use or disclosure of the Borrower’s particulars, data and information in the application by The Lender which may include but shall not be limited to purposes necessary to promote or sustain the business of The Lender; and the Borrower waives any claims the Borrower may have against The Lender arising from any such access, use or disclosure.


Stay Connected

Stay in Touch with SmartLoan to Get Financially Smart

Customer Care


Suit 14 Tanan Bhiyar House By Atiku Junction

Rayfeild Jos Plateau