Borrow Loan Agreement

Effective August 10, 2020 - November 23, 2020

Terms and Conditions

This Loan Agreement (“Agreement”) is a contract between (i) You (as defined below) and (ii) First Electronic Bank, a Utah-chartered industrial bank, Member FDIC (“Bank”), as the originator and issuer of Your closed-end loan. Please read this Agreement and keep a copy.

You acknowledge that You have read, agree with, and accept all terms and conditions contained in this Agreement. In consideration of the promises and the respective representations, warranties, covenants, agreements and conditions contained below and on the following pages, You and Bank enter into this Agreement and agree with, and accept, the terms and conditions set forth herein.

1. Definitions

  • “Annual Percentage Rate” or “APR” means the cost of your credit as a yearly rate. The APR is reflected in the Summary of Loan Terms.

  • “Bank” has the meaning set forth in the first paragraph of this Agreement.

  • “Borrowed Amount” means the “Amount Financed” identified in the Summary of Loan Terms.

  • “Business Day” means any day except Saturday, Sunday, or any state, federal or postal holiday which is a day on which banks are required or permitted to be closed in the State of Utah.

  • “Check” means a check You use to pay Your loan. This includes any image of this instrument.

  • “Due Date” means the date that payment for Your Borrowed Amount and Finance Charge are due and payable as detailed in your Summary of Loan Terms under “Final Due Date”.

  • “Execution Date” means the date identified in Your Cash App activity feed as the date you borrowed.

  • “Finance Charge” means the dollar amount the credit will cost You, as reflected in the Summary of Loan Terms.

  • “Military Borrower” means a “covered borrower”, as that term is defined in 32 CFR Section 232.3(g). See section 29 for more information.

  • “Outstanding Balance” means the Borrowed Amount plus Finance Charge less any payments that have been made over the term of the loan

  • “Overdue Interest” means the weekly charge(s) applicable to Your unpaid Borrowed Amount once you are in default as reflected in the Summary of Loan Terms.

  • “Payoff Amount” means the remaining Outstanding Balance plus any unpaid Overdue Interest.

  • “Summary of Loan Terms” means Truth in Lending Disclosures provided to You prior to executing this Agreement, pursuant to the federal Truth in Lending Act and Regulation Z.

  • “Square Capital” means Square Capital, LLC, a wholly owned subsidiary of Square, Inc., d/b/a Square Capital of California, LLC in Florida, Georgia, Montana, and New York and includes its agents, authorized representatives, successors, and assignees.

  • “Square Inc.” means Square, Inc., a Delaware company with offices at 1955 Broadway, Suite 600, Oakland, CA 94612 and includes its agents, authorized representatives, successors, and assignees.

  • “You” and “Your” means the person identified as “Borrower” in the Summary of Loan Terms.

2. Authorization to Obtain Credit Report and Credit Reporting

a. You authorize Bank and/or Square, Inc. and/or Square Capital on behalf of Bank to obtain your credit reports from one or more credit reporting agencies for any purpose permitted by applicable law, including: (i) to authenticate Your identity; (ii) to make loan decisions; (iii) to service Your loan; (iv) to send You future marketing information; and/or (v) for internal analytics and credit modeling purposes. You understand that initially submitting personal information will not affect Your credit score, however, submitting a loan application or accepting a loan may result in an inquiry on Your credit report that may affect Your credit score.

b. Bank and/or Square Inc. and/or Square Capital on behalf of Bank may report information about Your account to credit bureaus. Late payments, missed payments, or other defaults on Your account may be reflected in Your credit report.

c. If You believe that inaccurate information has been reported about Your loan to a credit bureau or other consumer reporting agency, please send notification to the following address and when You write, please identify the specific information that You believe is incorrect and why You believe it is incorrect.

Block Inc.
Attn: Cash App Lending Program Operations
1955 Broadway, Suite 600
Oakland, CA 94612

3. Promise to Pay

You agree to pay Bank the Borrowed Amount, together with the Finance Charge and any applicable Overdue Interest incurred in the event You fail to pay the Payoff Amount by the Due Date.

4. Disbursement of Funds

You agree that Bank will withhold the Finance Charge and disburse the Borrowed Amount to Your loan account.

5. Loan Purpose and Structure

You acknowledge and agree that You will use this loan and the loan proceeds for personal, family, or household purposes. You will not use the loan proceeds, in whole or in part, for postsecondary educational expenses. You also acknowledge and agree that: (i) there is a limit to how much You can borrow, (ii) You can borrow subsequent closed-end loans up to your limit, and (iii) each Borrowed Amount is a one-time extension of closed-end credit subject to verification and evaluation of credit information and other criteria.

6. Finance Charge

The Finance Charge has been calculated as a percentage of your Borrowed Amount. The finance charge is not imposed from time to time on an outstanding unpaid balance.

7. Interest Charges

Overdue Interest accrues only if you do not pay your loan by the Due Date. Interest will begin accruing on any unpaid Borrowed Amount on a weekly basis after the Due Date and will continue to accrue on a weekly basis until the Payoff Amount has been paid in full.

8. Scheduled Payment

a. Your payment schedule for your Outstanding Balance will be one lump sum payment due on the Due Date, as set out in the Summary of Loan Terms. You may elect to prepay all or part of Your Outstanding Balance before the Due Date, but any prepayments, including any made pursuant to the optional repayment schedule, are voluntary.

b. You will take all necessary steps to ensure notifications from Square Capital are not being filtered out of the mode by which You have selected to receive notifications in Your Cash App. If You do not receive notifications, Your payment will still be due on Your regularly scheduled Due Date.

c. If You miss the payment due on Your Due Date, Your next payment must include the originally scheduled payment and any continued Overdue Interest due as a result of a missed payment.

9. How Your Payments Are Applied

Except as prohibited by law, payments will be applied to Your loan as Bank determines in its sole discretion.

10. Prepayment

You may prepay Your loan in full or in part at any time. There is no penalty for early payment of all or any part of Your loan. However, You will not be entitled to a refund of part of the Finance Charge. The Finance Charge is non-refundable and fully earned on the date the Borrowed Amount is disbursed.

11. Making Your Loan Payments

a. Automatic Payment. You may choose to enroll in automatic payments during the application process, either for the lump sum payment that is due on the Due Date, or for the optional repayments, which are voluntary. Additional disclosures are in your Automatic Payment Agreement, which will be provided at the time of enrollment. You can opt-out of automatic payments at any time by contacting Cash App support, which is accessed by clicking on Your profile in the Cash App and clicking “Support” and following the in-App prompts.

b. Manual Electronic Payments. You may choose to manually make electronic payments. By choosing this method, You will be required to authorize Your debit card to be debited for a stated amount each time You make a payment.

c. Payment by Mail. You may send Checks payable to “Cash Lending” to the following address:

Lockbox Services 206600
Square Inc.
2975 Regent Blvd Suite #100
Irving, TX 75063

Your Check must specify Your Cashtag, original Borrowed Amount, and original borrow date. Your payment must be made in U.S. dollars from a valid U.S. source in a form acceptable to Bank. Conforming payments can be made in the following ways:

A Check must be physically received at the above address by 4:00 PM CT on a Business Day in order to be credited to Your account on the same day.

12. Payment Processing

a. You agree that Bank, or Square Capital on behalf of Bank, may accept and process payments without losing any rights.

b. You agree to make payments electronically or through Check payments that You send us. You agree that any other form of payment, including cash payments, will not be accepted. You agree that Bank or any of its service providers, including Square Capital, are not responsible if Your financial institution rejects a payment You make. You will be responsible for any fees charged by Your financial institution.

c. You agree and authorize Bank, or Square Capital on behalf of Bank, to resubmit and/or collect returned payments electronically if You have opted to pay electronically.

d. You agree and authorize Bank, or Square Capital on behalf of Bank, to make electronic reversals or credits to any debit card You have provided in the event of an erroneous debit or as otherwise appropriate.

e. You agree and authorize Bank, or Square Capital on behalf of Bank, to adjust Your loan to correct errors, process returned and reversed payments, and handle other issues pertaining to Your account.

f. Your funds may be withdrawn from Your deposit account as early as the same day Your payment is received.

13. Checks with Restrictive Words, Conditions, or Instructions

You agree not to send Checks bearing restrictive words, conditions, limitations or special instructions or send any accompanying communications with any payment to any address. If You send such a payment, it may be rejected and returned to You. Your payment may also be accepted and processed without regard to any such restrictive words, conditions, limitations, special instructions or accompanying communications without Bank and/or Square Capital, on behalf of Bank, losing any rights. This includes Checks marked “Paid in Full”, Checks that are post-dated, or Checks that otherwise have other restrictive, conditional, limiting, or instructive language. This also includes all accompanying communications.

14. Default

a. Unless expressly prohibited by law, You will be in default on Your loan if:

i. You do not make your payment in full when it is due for Your loan under this Agreement;
ii. Any payment You make is rejected or not paid by Your bank or cannot be processed by Your bank;
iii. You file or become the subject of a bankruptcy or insolvency proceeding;
iv. You are unable to repay Your obligations, including upon death or legally declared incapacity;
v. You provided inaccurate, untrue, or incomplete information, or You otherwise tried to defraud or provide material misrepresentations to Bank and/or its service providers;
vi. You do not comply with any term of this Agreement; and/or
vii. You permanently reside outside the United States.

b. If You are in default, certain actions by Bank or Square Capital, acting on behalf of Bank, may be taken with respect to Your loan without notifying You unless notification is required by law. For example, depending on the default the following actions may be taken:

i. If You are enrolled in automatic payments, Your Cash App Stored Balance or debit card may be debited the amount of: (i) any payment not paid by the Due Date;
ii. If Your loan remains in default for more than 90 days, we may debit the Payoff Amount from Your Cash App Stored Balance, which may cause a negative Cash App Stored Balance. Any funds that you receive into your Cash App Stored Balance from, among others, receipt of a peer-to-peer payment, direct deposit, or sale of Bitcoin or stocks shall be first applied to replenish any negative balance. Further, while You have a negative Cash App Stored Balance, You will be unable to use Your Cash Card.
iii. Your ability to use any or all features on Cash App may be suspended until You satisfy Your outstanding loan obligation.
iv. You may continue to be charged Overdue Interest as long as Your Outstanding Balance remains unpaid; and/or
v. Any other action to the extent not prohibited by law.

c. Loans are not available in all states. If you move to a state where we do not currently offer loans, you will be unable to borrow subsequent closed-end loans as described in section 5.

15. Personal Financial Information

You promise to provide personal financial information about You that may be requested from time to time for underwriting, security, and/or other purposes related to the management of Your account. This includes, but is not limited to:

a. Your legal name;

b. A valid U.S. mailing address and residential address (if different);

c. Your date of birth;

d. Your Social Security Number or Individual Taxpayer Identification Number;

e. Your telephone number(s); and

f. Your employment and income information.

You promise to promptly update Your personal information in your Cash App profile, including but not limited to Your name, street address, email address or telephone number. In doing so, You agree that You will not provide false information or signatures, electronic or otherwise, at any time. You may be asked for additional documents to verify any changes. You understand that if You move to a state where this product is not offered, You will be unable to borrow subsequent closed-end loans as described in section 5.

16. Age and Residency

By entering into this Agreement, You agree that You are at least 18 years of age or older and of sufficient legal age to enter into a contract in the state where You reside and You are a resident of the United States when You execute this Agreement.

17. Communications and Contact Information

a. You consent to accept and receive communications from Bank and/or Square Inc. and/or Square Capital, on behalf of Bank, including e-mail, text messages, calls, and push notifications to the cellular telephone number You provide when You inquire about a loan or update Your contact information. Such communications may include, but are not limited to communications regarding applications for credit, credit decisions, disclosures, servicing, collections, requests for secondary authentication, receipts, reminders, and notifications regarding updates to Your account or account support. Call and text message communications may be generated by automatic telephone dialing systems. Standard message and data rates applied by Your cell phone carrier may apply to the text messages sent to You.

b. You may opt-out of receiving promotional email communications by following the unsubscribe options on such emails. You may opt out of any promotional phone calls by informing the caller that You would not like to receive future promotional calls. You may also opt-out of text messages from Bank and/or Square Capital, acting on behalf of Bank, at any time by texting END to the number You received a text from. You acknowledge that opting out of receiving communications may impact Your use of Bank’s and/or Square Inc. and/or Square Capital’s services.

18. Submission of Ideas

You may submit comments or ideas about the loans and/or services You receive (“Ideas”). By submitting any Idea, You agree that Your disclosure is gratuitous, unsolicited, and without restriction, that it will not place Bank under any fiduciary, confidentiality or other obligation, and that Bank and/or Square Capital are free to use the Idea without any additional compensation to You, and/or to disclose the Idea on a non-confidential basis or otherwise to anyone. You hereby grant us a perpetual, irrevocable, worldwide, fully paid up, non-exclusive, sub-licensable, right and license to use the User Content and all elements thereof, in any and all media formats and forms, known now or hereafter devised for any purpose that we choose

19. Important Information About Procedures for Opening a New Account

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for You: When You open an account, we will ask for Your name, address, date of birth, and other information that will allow us to identify You. We may also ask to see Your driver’s license or other identifying documents.

20. Loan Documents

The following documents (“Loan Documents”) govern Your loan:

  • The E-SIGN Act Consent provided to You when You applied for the Loan;

  • This Agreement;

  • Summary of Loan Terms / Truth in Lending Disclosure;

  • Any Credit Report Authorizations You agreed to when You applied for the Loan;

  • Any Automated Payment Authorization You agreed to when You applied for the Loan;

  • Any Privacy Policies You agreed to when You applied for the Loan; and

  • Any Updated Terms.

  • Please read these carefully and keep them for future reference.

21. The Law That Applies to Your Agreement

This Agreement and any dispute arising hereunder will be governed by Utah law and/or applicable federal law (including the Federal Arbitration Act) as applied to agreements entered into and to be performed entirely within Utah, without regard to its choice of law or conflicts of law principles that would require application of law of a different jurisdiction.

22. Severability

Except as otherwise provided herein (including, without limitation, the arbitration provision below) and to the extent not prohibited by law, if any provision of this Agreement is held to be invalid or unenforceable, such determination shall not affect the validity or enforceability of the remaining provisions of this Agreement.

23. Delay of Enforcement and Waiver

Bank will not lose any of its rights due to delay or any choice not to take any action for any reason. Bank may waive rights without notifying You. For example, Bank may waive Overdue Interest that You owe at a particular time without notifying You and without losing any right to impose Overdue Interest that accrues thereafter.

24. Assignment

a. This Agreement will be binding on, and benefit, any of Your and Bank’s successors and assigns, which such assigns shall include, for the avoidance of doubt, any subsequent holders of Your loan. Except as provided by applicable law, Bank may sell, assign or transfer Your loan and this Agreement in whole or in part without Your permission and without prior notice to You. Any assignee or assignees, including, for the avoidance of doubt, any subsequent holders of this loan agreement, will take Bank’s place under this Agreement. You must pay them and perform all of Your obligations to them and not Bank. If You pay Bank after You are notified that Your loan or this Agreement has been transferred, Bank and/or Square Capital, acting on behalf of Bank, may return the payment to You, forward the payment to the assignee, or handle it in another way that is reasonable. You may not sell, assign or transfer Your loan or this Agreement to someone else without written permission of Bank or any subsequent holder of Your loan. Any sale, assignment or transfer of Your loan by You in violation of this section shall be null and void.

b. If this Agreement is sold, assigned or otherwise transferred, Your rights under the law or under this Agreement are in no way altered or impaired.

25. Entire Agreement

The Loan Documents constitute the entire agreement between You and Bank with respect to this loan. You acknowledge and agree that no oral representations shall vary, modify or amend the terms and conditions of the Loan Documents. Any failure by Bank to exercise, or delay by Bank in exercising, any right or remedy shall not operate as a waiver thereof.

26. Survival of Obligations

Notwithstanding any other provision in this Agreement, the obligations in sections 21 (The Law That Applies to Your Agreement), 22 (Severability), 23 (Delay of Enforcement and Waiver), 24 (Assignment), 25 (Entire Agreement), 26 (Survival of Obligations), and 27 (Binding Individual Arbitration) will survive any expiration or termination of this Agreement.

27. Binding Individual Arbitration

This arbitration provision does not apply to Military Borrowers.

You and Bank agree to arbitrate all disputes arising under, relating to, or in connection with this Agreement or Your relationship with Bank (collectively, a “Claim”). “Claim” shall be broadly construed and includes without limitation, disputes based upon contracts, torts, consumer rights, and violations of statute, local ordinance, regulation or common law. “Claim” includes Claims made by or against anyone connected to You or Bank and Bank’s subsidiaries, affiliates, agents, employees, predecessors, successors, or assigns (which such assigns shall include, for the avoidance of doubt, any subsequent holders of Your loan) and any authorized users or beneficiaries of the Square Borrow program. This also includes Claims made by or against Bank’s service providers, including Square Capital, and which shall include Square Capital’s parent company, subsidiaries, affiliates, agents, employees, predecessors, successors, or assigns and any authorized users or beneficiaries of the Square Borrow program.

Notwithstanding the foregoing, “Claim” does not include any individual action brought by you or us in small claims court or an equivalent court, unless such action is transferred, removed or appealed to a different court as well as any claim not arbitrable under American Arbitration Association (“AAA”) rules. Moreover, “Claim” does not include disputes concerning the validity, enforceability, arbitrability or scope of this arbitration provision or any part thereof (including, without limitation, the prohibition on class, representative, private attorney general, and non-individualized relief); all such disputes must be decided by a court and not an arbitrator. However, “Claim” includes any dispute concerning the validity or enforceability of this Agreement as a whole; any such Claim must be decided by the arbitrator, not a court.

You and Bank agree that Square Capital, along with Square Capital’s parent company, subsidiaries, affiliates, agents, employees, predecessors, successors, or assigns and any authorized users or beneficiaries of the Square Borrow program, are intended to be, and shall have the rights of, a third party beneficiary of this section of this Agreement.

Arbitration is more informal than a lawsuit in court and seeks to resolve Claims more quickly. Instead of a judge or a jury, the Claim will be decided by a neutral arbitrator.

THE PARTIES ARE WAIVING THE RIGHT TO LITIGATE A CLAIM IN COURT AND TO HAVE A JURY TRIAL ON ANY CLAIM.

ANY ARBITRATION UNDER THIS AGREEMENT WILL ONLY BE ON AN INDIVIDUAL BASIS; CLASS ARBITRATIONS, CLASS ACTIONS, PRIVATE ATTORNEY GENERAL ACTIONS, OTHER REPRESENTATIVE ACTIONS AND CONSOLIDATION WITH OTHER ARBITRATIONS ARE NOT PERMITTED. AN ARBITRATOR CAN AWARD RELIEF ONLY ON AN INDIVIDUAL BASIS. YOU WILL NOT HAVE THE RIGHT TO PARTICIPATE IN A CLASS ACTION OR AS A PRIVATE ATTORNEY GENERAL IN COURT OR IN ARBITRATION RELATING TO ANY CLAIM.

Before an arbitration is commenced, the claimant must first send to the other party a written Notice of Dispute (“Notice”). Any Notice to Bank should be sent by certified mail to: First Electronic Bank, c/o Cash App Lending Program Operations, 1955 Broadway, Suite 600, Oakland, CA 94612 (“Notice Address”). Any Notice to You will be sent to the address on file for your account. The Notice must: (i) include your name and account number; (ii) describe the nature and basis of the Claims or dispute; and (iii) set forth the specific relief sought. Both parties agree that they will attempt to resolve a dispute through an informal negotiation within sixty (60) days from the date the Notice is sent. After that sixty (60) day period and not before, either party may commence arbitration.

All Claims shall be resolved finally and exclusively by binding individual arbitration with a single arbitrator administered by the AAA according to this provision and the applicable AAA rules for consumer disputes, which may limit the discovery available to You or to us. The parties shall pay arbitration costs in accordance with the applicable AAA fee schedule for consumer disputes. You can obtain copies of the AAA rule, fee schedule and forms by contacting AAA at 120 Broadway. Floor 21, New York, NY 10271, www.adr.org, (800) 778-7879. The arbitrator must be a lawyer with at least ten years of experience or a retired judge, unless You and we agree otherwise. Any arbitration hearing that You attend will take place in the federal judicial district where You reside as of the date You execute this Agreement. If the AAA is unable to serve, the parties agree to meet and confer in good faith to identify an alternative arbitration service.

The arbitration provision is made pursuant to a transaction involving interstate commerce and shall be governed by the Federal Arbitration Act, 9 U.S.C. §§ 1-16 (“FAA”). The arbitrator will apply applicable substantive law consistent with the FAA and applicable statutes of limitations, and will honor claims of privilege recognized at law. Except for the prohibition on class, representative, private attorney general, and non-individualized relief, the arbitrator shall have the power to award the same remedies, including statutory and punitive damages (subject to constitutional limits that would apply in court) and statutory attorneys’ fees and costs, that a court could award under applicable law in an individual (non-representative) case.

The arbitrator’s award shall be binding on the parties, except for any appeal right under the FAA (9 U.S. Code § 10), and may be entered as a judgment in any court of competent jurisdiction. Upon the timely request of either party, the arbitrator shall write a brief explanation of the basis of his or her award. No arbitration award involving the parties will have any preclusive effect as to issues or claims in any dispute involving anyone who is not a party to the arbitration, nor will an arbitration award in prior disputes involving other parties have preclusive effect in an arbitration between the parties to this arbitration provision. While an arbitrator may award declaratory or injunctive relief, the Arbitrator may do so only with respect to the individual party seeking relief and only to the extent necessary to provide relief warranted by the individual party’s claim.

Except as set forth above in the prohibition on class, representative, private attorney general, and non-individualized relief, if, after the exhaustion of all appeals, any provision of this arbitration agreement is found unenforceable, the unenforceable provision will be severed, and the remaining arbitration terms will be enforced. If, after exhaustion of all appeals, any of these prohibitions are found to be unenforceable with respect to a particular cause of action or a particular request for relief (such as a request for public injunctive relief), then that cause of action or request for relief (and only that cause of action or request for that relief) shall be severed and decided by the court following arbitration of all other causes of action and requests for relief. The parties acknowledge and agree that under no circumstances will a class action or a claim for public injunctive relief be arbitrated.

This arbitration provision shall survive your full payment of the Agreement; our sale or transfer of the Agreement; any legal proceeding to collect a debt owed by You to us; and any bankruptcy or insolvency. In the event of any conflict or inconsistency between this arbitration provision and the Administrator’s rules or the Agreement, this arbitration provision will govern.

28. Military Annual Percentage Rate Statement:

a. Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. This rate must include, as applicable to the credit transaction or account: (1) the costs associated with credit insurance premiums; (2) fees for ancillary products sold in connection with the credit transaction; (3) any application fee charged (other than certain application fees for specified credit transactions or accounts); and (4) any participation fee charged (other than certain participation fees for a credit card account). To hear these disclosures and information about your payment obligation over the telephone, please call the following toll-free number: (855) 949-7782.

b. Your payment obligation is listed in the Summary of Loan Terms under “Final Due Date”

29. State Notices

For CALIFORNIA residents:
A married applicant may apply for a separate account.

As required by California law, You are hereby notified that a negative credit report reflecting on Your credit record may be submitted to a credit reporting agency if You fail to fulfill the terms of Your credit obligations.

For IOWA residents:
NOTICE TO CONSUMER: (1) Do not sign this paper before You read it. (2) You are entitled to a copy of this paper. (3) You may prepay the unpaid balance at any time without penalty and may be entitled to receive a refund of unearned charges in accordance with law.

IMPORTANT: READ BEFORE SIGNING. The terms of this Agreement should be read carefully because only those terms in writing are enforceable. No other terms or oral promises not contained in this written contract may be legally enforced. You may change the terms of this agreement only by another written agreement.

For KANSAS residents:
NOTICE TO CONSUMER: 1. Do not sign this Agreement before You read it. 2. You are entitled to a copy of this Agreement. 3. You may prepay the unpaid balance at any time without penalty.

For MASSACHUSETTS residents:
Massachusetts law prohibits discrimination based upon marital status or sexual orientation.

For MISSOURI residents:
Oral or unexecuted agreements or commitments to loan money, extend credit or to forbear from enforcing repayment of a debt including promises to extend or renew such debt are not enforceable. To protect You (borrower(s)) and us (creditor) from misunderstanding or disappointment, any agreements we reach covering such matters are contained in this writing, which is the complete and exclusive statement of the agreement between us, except as we may later agree in writing to modify it.

For NEW JERSEY residents:
The section headings of this Agreement are a table of contents and not contract terms. Because certain provisions of this Agreement are subject to applicable law, they may be void, unenforceable or inapplicable in some jurisdictions. None of these provisions, however, are void, unenforceable or inapplicable in New Jersey.

For NEW YORK, RHODE ISLAND, and VERMONT residents:
You understand and agree that Bank may obtain a consumer credit report in connection with this application and in connection with any update, renewals for extension of any credit as a result of this application. If You ask, You will be informed whether or not such a report was obtained, and if so, the name and address of the agency that furnished the report. You also understand and agree that Bank may obtain a consumer credit report in connection with the review or collection of any loan made to You as a result of this application or for other legitimate purposes related to such loans.

For OHIO residents:
The Ohio laws against discrimination require that all creditors make credit equally available to all credit-worthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with the law.

For WASHINGTON residents:
Oral agreements or oral commitments to loan money, extend credit, or to forbear from enforcing repayment of a debt are not enforceable under Washington law.

For UTAH residents:
As required by Utah law, You are hereby notified that a negative credit report reflecting on Your credit record may be submitted to a credit reporting agency if You fail to fulfill the terms of Your credit obligations.

This Agreement is the final expression of the agreement between You and Bank and it may not be contradicted by evidence of an alleged oral agreement.

Married Wisconsin Residents:
No provision of any marital property agreement, unilateral statement or court decree adversely affects our rights, unless you give us a copy of such agreement, statement or court order before we grant you credit, or we have actual knowledge of the adverse obligation. All obligations on this Account will be incurred in the interest of your marriage or family. You understand that we may be required to give notice of this Account to your spouse. Married Wisconsin residents must furnish the name and email address of their spouse to Square Capital, LLC through Cash App support, which is accessed by clicking on Your profile in the Cash App and clicking “Support” and following the in-App prompts.

Executed via Electronic Signature on Execution Date, which is the date of your Borrow as shown in your Cash App activity feed.

Last updated August 10, 2020