Terms of Use and Privacy Policy

Last updated: July 13, 2021

Via our website, www.zidisha.org, Zidisha matches its funding participants (to whom we refer as "backers") with prospective borrowers, who are small business entrepreneurs in low-income countries. Zidisha works to improve access to affordable business financing for disadvantaged entrepreneurs, while making available information on borrowers' businesses and credit histories to allow each backer to choose which entrepreneurs receive the funds that backer provides.

By using the www.zidisha.org website, you hereby understand and agree to the following:

Release of liability

Zidisha is responsible only for maintaining the www.zidisha.org website. Zidisha is not a financial institution, and is not responsible for assessing credit risk of borrowers, enforcing repayment, or guaranteeing repayment of projects posted on its website. Backers participate in the projects provided to Zidisha borrowers at the backers' own risk, based on their own assessment of prospective borrowers' profiles posted on the site.

Zidisha is not a bank or other financial institution or investment adviser, broker or dealer. Zidisha makes no guarantee or representation that funds lent through its website will be repaid to backers, regardless of whether the projects financed with backer funds are repaid to Zidisha. Any cash payouts are promotional gifts offered solely at Zidisha's discretion.

Zidisha is not responsible or liable for any incorrect information posted on its website, or for losses or damages resulting from such information. Other than repayment performance of prior Zidisha projects, neither Zidisha nor any other party has verified the information that borrowers post on Zidisha's website. Zidisha is not responsible for the accuracy of any such information.

Pay It Forward program

Unless specifically designated as a loan, new projects offered for funding on the Zidisha platform are part of the Pay It Forward program. Projects offered as part of the Pay It Forward program are not repaid to backers. Instead, borrowers commit to reinvest the funds in other borrowers on the platform once their projects are complete. Any funds allocated to a Pay It Forward project are non-refundable and cannot be credited back to a backer's account or withdrawn.

Loan program

Any loans offered through Zidisha are unsecured and would be considered high risk by traditional financial institutions. In addition, Zidisha is under no obligation to return all or a portion of the funds provided by any backer. Accordingly, participating in loans provided by Zidisha is intended to be a philanthropic rather than an investment activity. Website users should lend only amounts that they can afford to lose in the case of borrower default.

Backers accept the risk of loss in whole or in part of funds lent to Zidisha borrowers. Risks include but are not limited to political and economic instability, currency fluctuations, and the unpredictability inherent in entrepreneurial endeavors.

Any loans posted for financing through the Zidisha website are unsecured and bear high risk of non-repayment. Zidisha is not responsible for any financial losses resulting from use of its website.

Loan amounts are fixed in local currency at the time of disbursement. Currency exchange rate fluctuations may cause reductions in the dollar values of the loans over the course of the repayment period, causing backers to lose money even if the loan is fully repaid.

Zidisha borrowers may modify their repayment schedules at any time within the parameters set by Zidisha.

Tax reporting

Funds uploads to backer accounts should not be treated as tax-deductible charitable contributions.

It is the responsibility of backers to report and pay any applicable taxes on any cash payouts received from Zidisha.

Withdrawing funds

Backers may only withdraw funds from their Zidisha accounts via PayPal. Backers who are not able to receive PayPal transfers will not be able to withdraw funds from their accounts.

Inactive accounts

If a backer does not make any new funding allocation or withdrawal request within sixty days after uploading funds, redeeming a gift card or receiving a repayment credit, the account will be considered inactive and Zidisha will allocate the available credit to fundraising projects on the backer's behalf. A backer may deactivate automated allocation for sixty days at a time using the "Relending Preferences" page of his or her account, but this does not undo or prevent automated allocation if the account becomes inactive for sixty days.

Abandoned accounts

In the event that a backer does not log in to his or her account for over one year, Zidisha will attempt to contact the aforementioned backer using the email address registered with his or her account. If Zidisha does not receive a response from the backer within one month from the date of the first contact attempt, the account will be deemed abandoned, and the balance of any funds that have been credited to that account will automatically convert to an unrestricted donation to Zidisha. Backers whose expired accounts have converted to donations may reverse this conversion at any time by sending a written or email request to Zidisha. Upon receipt of such a request, Zidisha will credit the balance that had been converted to a donation back to the backer's account.

Acceptable content

Unsolicited advertising, offensive or discriminatory language, personal attacks or accusations, and other content that is harmful to our community is prohibited in the Zidisha website and forum.

Display names that promote political, religious or otherwise partisan views are prohibited.

Posting unproven accusations or speculation that harms the reputation of any of our members is strictly prohibited.

Zidisha reserves the right, at its sole discretion, to remove content that violates this prohibition, and to close the accounts of users who post such content.

These Terms of Use

This Terms of Use Agreement is governed by the laws of the state of Virginia, USA. The Agreement will remain in effect as long as you use the Zidisha website, are participating in any outstanding loan or have any amount credited to your funded balance with Zidisha.

Zidisha reserves the right, at its sole discretion, to modify the website or to modify these Terms of Use, at any time and without prior notice. If we modify these Terms of Use, we will update the “Last Updated” date at the top of these Terms of Use. By continuing to access or use the website or our services after we have posted a modification on the website or on these Terms of Use, you are indicating that you agree to be bound by the modified Terms of Use. If the modified Terms of Use are not acceptable to you, your only recourse is to cease using the website and Zidisha services.

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