Terms of Application
These Terms were last revised on June 14, 2024.
By agreeing to these terms (such as by clicking the button to accept these Terms of Application), you, in your individual capacity, confirm and agree to the following. PLEASE NOTE THAT THE FOLLOWING CONTAINS AN ARBITRATION PROVISION, A CLASS ACTION WAIVER, AND A JURY WAIVER. YOU MAY OPT OUT AS DESCRIBED BELOW.
• You are authorized on behalf of yourself and the business listed in the application on this website (together, the “Applicant”) to submit this application, provide any accompanying documents, and give the consents and authorizations outlined below.
• You are submitting this application to CX Lending and third-party lenders, finance companies, and/or other entities that provide commercial loans or purchase receivables (collectively “Recipients”).
• If this application is approved, you are authorized to meet the requirements of any loan or financing, including signing business financing documentation on behalf of the Applicant. Note that some business financing products may require a personal guaranty.
• All information provided to CX Lending and/or Recipients is accurate and complete, and you will promptly notify CX Lending of any changes to this information.
• CX Lending and Recipients may rely on the accuracy and completeness of the information you provide.
• CX Lending may share all information and documents you provide, or that CX Lending or its Recipients generate, excluding consumer credit reports, with Recipients to fulfill your requests.
• CX Lending and Recipients may share information they have about you and the Applicant for administrative, marketing, servicing, or other purposes as permitted by law, and your personal information may be shared with the Applicant as part of the underwriting process.
• You and the Applicant waive and release any claims against any information provider or third-party Recipient regarding the release of information.
• You agree to and accept all terms of the CX Lending Credit Gathering Authorization, including permission for CX Lending and Recipients to pull your credit report and other information about the Applicant.
• To resolve disputes between you and CX Lending, both parties agree to opt for binding arbitration instead of general court litigation (“Agreement to Arbitrate”). Arbitration is less formal than a lawsuit, uses a neutral arbitrator instead of a judge or jury, shortens time frames and requirements, and is subject to very limited court review. Arbitrators can award the same damages and relief as a court. Any arbitration under these Terms will be conducted individually; class arbitrations and class actions are not allowed. You acknowledge that the arbitrator may award relief only in favor of the individual party seeking relief and only to the extent necessary to address that party’s claim(s). Any relief awarded cannot affect other users.
• You agree that all disputes, whether before a court or an arbitrator, will be resolved solely on an individual basis, and you waive your right to participate in any class action against CX Lending.
• Claims To Be Resolved By Binding Arbitration: You and CX Lending agree to arbitrate all disputes and claims between us. This agreement to arbitrate is intended to be broad and includes, but is not limited to, claims arising out of or relating to any aspect of the relationship between us, whether based on contract, tort, statute, fraud, misrepresentation, or any other legal theory; claims that arose before this or any prior Terms; claims currently subject to purported class action litigation in which you are not a member of a certified class; and claims that may arise after the termination of these Terms.
• Exceptions: Nothing herein shall be deemed to waive, preclude, or limit either party’s right to (i) pursue enforcement actions through applicable federal, state, or local agencies where such actions are available; (ii) seek injunctive relief in any competent court of law; or (iii) file suit in a court of law for intellectual property infringement claims.
• Arbitrator: Any arbitration between you and CX Lending will be governed by the Commercial Dispute Resolution Procedures (collectively, “AAA Rules”) of the American Arbitration Association (“AAA”), as modified by these Terms, and administered by the AAA. The AAA Rules and filing forms are available online at www.adr.org or by calling the AAA at 1-800-778-7879.
• Notice and Process: A party intending to seek arbitration must first send a written Notice of Dispute (“Notice”) by certified mail to: CX Lending, 11042A Cedar Walk Lane, Charlotte, NC 28177 (“Notice Address”). The Notice must describe the nature and basis of the claim or dispute and specify the relief sought (“Demand”). If you and CX Lending do not resolve the claim within 30 days after the Notice is received, either party may commence an arbitration proceeding.
• Fees: If you commence arbitration in accordance with these Terms, CX Lending will reimburse you for your payment of the arbitration filing fee, unless your claim exceeds $10,000, in which case the payment of fees will be decided by the AAA Rules. Any fee payment request should be submitted to the AAA with your Demand for Arbitration, and CX Lending will make arrangements to pay all necessary fees directly to the AAA. If the arbitrator finds your claim(s) to be frivolous or brought for an improper purpose (per Federal Rule of Civil Procedure 11(b)), you agree to reimburse CX Lending for all fees paid on your behalf that you would otherwise be required to pay under the AAA’s rules.
• If your claim is $10,000 or less, you may choose whether the arbitration will be conducted based solely on documents submitted to the arbitrator, through a non-appearance telephonic hearing, or by an in-person hearing per the AAA Rules.
• Any in-person arbitration hearings will be held at a location agreed upon in Charlotte, NC. Regardless of how the arbitration is conducted, the arbitrator shall issue a reasoned written decision explaining the essential findings and conclusions on which the decision and award, if any, are based. The arbitrator may make rulings and resolve disputes about the payment and reimbursement of fees or expenses at any time during the proceeding and upon request from either party within 14 days of the arbitrator’s ruling on the merits.
• No Class Actions: Unless both you and CX Lending agree otherwise, the arbitrator cannot consolidate multiple claims or preside over any form of a representative or class proceeding.
• YOU AND CX LENDING AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING.
• Opt-Out: If you are a new CX Lending user, you can reject the arbitration agreement in these Terms of Application (“opt-out”) by mailing a written opt-out notice (“Opt-Out Notice”) to CX Lending, 11042A Cedar Walk Lane, Charlotte, NC 28177, postmarked no later than thirty (30) days after the date you first accept these Terms. The Opt-Out Notice must include your name, address (street, city, state, zip code), user name(s), email address(es) associated with your CX Lending Account, and the application to which the opt-out applies. You must sign the Opt-Out Notice for it to be effective. This is the only way to opt out of the Agreement to Arbitrate. Opting out does not affect any previous, other, or future arbitration agreements with CX Lending.
• Modifications: If CX Lending changes this Agreement to Arbitrate (except for a change to the Notice Address), you can reject any such change by sending written notice within 30 days of the change to the Notice Address above. If you reject any future change, your account with CX Lending will be terminated, and you will arbitrate any dispute under the existing language of this provision.
• Severability and Enforceability: If an arbitrator or court finds any part of this document invalid or unenforceable, the other parts will still apply.
YOU UNDERSTAND THIS APPLICATION IS FOR A COMMERCIAL LOAN OR PURCHASE OF FUTURE RECEIVABLES, AND ANY FUNDS OFFERED TO THE APPLICANT MAY NOT BE USED FOR PERSONAL, FAMILY, OR HOUSEHOLD PURPOSES.
Federal law requires all financial institutions to obtain, verify, and record information identifying each person and entity that opens an account or establishes a relationship, including name, address, date of birth, social security or tax identification number, and other information to verify your or the entity’s identity. You may also be asked to provide identifying documents.
By agreeing to these terms (such as by clicking the button to accept these Terms of Application), you, in your individual capacity, confirm and agree to the following. PLEASE NOTE THAT THE FOLLOWING CONTAINS AN ARBITRATION PROVISION, A CLASS ACTION WAIVER, AND A JURY WAIVER. YOU MAY OPT OUT AS DESCRIBED BELOW.
• You are authorized on behalf of yourself and the business listed in the application on this website (together, the “Applicant”) to submit this application, provide any accompanying documents, and give the consents and authorizations outlined below.
• You are submitting this application to CX Lending and third-party lenders, finance companies, and/or other entities that provide commercial loans or purchase receivables (collectively “Recipients”).
• If this application is approved, you are authorized to meet the requirements of any loan or financing, including signing business financing documentation on behalf of the Applicant. Note that some business financing products may require a personal guaranty.
• All information provided to CX Lending and/or Recipients is accurate and complete, and you will promptly notify CX Lending of any changes to this information.
• CX Lending and Recipients may rely on the accuracy and completeness of the information you provide.
• CX Lending may share all information and documents you provide, or that CX Lending or its Recipients generate, excluding consumer credit reports, with Recipients to fulfill your requests.
• CX Lending and Recipients may share information they have about you and the Applicant for administrative, marketing, servicing, or other purposes as permitted by law, and your personal information may be shared with the Applicant as part of the underwriting process.
• You and the Applicant waive and release any claims against any information provider or third-party Recipient regarding the release of information.
• You agree to and accept all terms of the CX Lending Credit Gathering Authorization, including permission for CX Lending and Recipients to pull your credit report and other information about the Applicant.
• To resolve disputes between you and CX Lending, both parties agree to opt for binding arbitration instead of general court litigation (“Agreement to Arbitrate”). Arbitration is less formal than a lawsuit, uses a neutral arbitrator instead of a judge or jury, shortens time frames and requirements, and is subject to very limited court review. Arbitrators can award the same damages and relief as a court. Any arbitration under these Terms will be conducted individually; class arbitrations and class actions are not allowed. You acknowledge that the arbitrator may award relief only in favor of the individual party seeking relief and only to the extent necessary to address that party’s claim(s). Any relief awarded cannot affect other users.
• You agree that all disputes, whether before a court or an arbitrator, will be resolved solely on an individual basis, and you waive your right to participate in any class action against CX Lending.
• Claims To Be Resolved By Binding Arbitration: You and CX Lending agree to arbitrate all disputes and claims between us. This agreement to arbitrate is intended to be broad and includes, but is not limited to, claims arising out of or relating to any aspect of the relationship between us, whether based on contract, tort, statute, fraud, misrepresentation, or any other legal theory; claims that arose before this or any prior Terms; claims currently subject to purported class action litigation in which you are not a member of a certified class; and claims that may arise after the termination of these Terms.
• Exceptions: Nothing herein shall be deemed to waive, preclude, or limit either party’s right to (i) pursue enforcement actions through applicable federal, state, or local agencies where such actions are available; (ii) seek injunctive relief in any competent court of law; or (iii) file suit in a court of law for intellectual property infringement claims.
• Arbitrator: Any arbitration between you and CX Lending will be governed by the Commercial Dispute Resolution Procedures (collectively, “AAA Rules”) of the American Arbitration Association (“AAA”), as modified by these Terms, and administered by the AAA. The AAA Rules and filing forms are available online at www.adr.org or by calling the AAA at 1-800-778-7879.
• Notice and Process: A party intending to seek arbitration must first send a written Notice of Dispute (“Notice”) by certified mail to: CX Lending, 11042A Cedar Walk Lane, Charlotte, NC 28177 (“Notice Address”). The Notice must describe the nature and basis of the claim or dispute and specify the relief sought (“Demand”). If you and CX Lending do not resolve the claim within 30 days after the Notice is received, either party may commence an arbitration proceeding.
• Fees: If you commence arbitration in accordance with these Terms, CX Lending will reimburse you for your payment of the arbitration filing fee, unless your claim exceeds $10,000, in which case the payment of fees will be decided by the AAA Rules. Any fee payment request should be submitted to the AAA with your Demand for Arbitration, and CX Lending will make arrangements to pay all necessary fees directly to the AAA. If the arbitrator finds your claim(s) to be frivolous or brought for an improper purpose (per Federal Rule of Civil Procedure 11(b)), you agree to reimburse CX Lending for all fees paid on your behalf that you would otherwise be required to pay under the AAA’s rules.
• If your claim is $10,000 or less, you may choose whether the arbitration will be conducted based solely on documents submitted to the arbitrator, through a non-appearance telephonic hearing, or by an in-person hearing per the AAA Rules.
• Any in-person arbitration hearings will be held at a location agreed upon in Charlotte, NC. Regardless of how the arbitration is conducted, the arbitrator shall issue a reasoned written decision explaining the essential findings and conclusions on which the decision and award, if any, are based. The arbitrator may make rulings and resolve disputes about the payment and reimbursement of fees or expenses at any time during the proceeding and upon request from either party within 14 days of the arbitrator’s ruling on the merits.
• No Class Actions: Unless both you and CX Lending agree otherwise, the arbitrator cannot consolidate multiple claims or preside over any form of a representative or class proceeding.
• YOU AND CX LENDING AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING.
• Opt-Out: If you are a new CX Lending user, you can reject the arbitration agreement in these Terms of Application (“opt-out”) by mailing a written opt-out notice (“Opt-Out Notice”) to CX Lending, 11042A Cedar Walk Lane, Charlotte, NC 28177, postmarked no later than thirty (30) days after the date you first accept these Terms. The Opt-Out Notice must include your name, address (street, city, state, zip code), user name(s), email address(es) associated with your CX Lending Account, and the application to which the opt-out applies. You must sign the Opt-Out Notice for it to be effective. This is the only way to opt out of the Agreement to Arbitrate. Opting out does not affect any previous, other, or future arbitration agreements with CX Lending.
• Modifications: If CX Lending changes this Agreement to Arbitrate (except for a change to the Notice Address), you can reject any such change by sending written notice within 30 days of the change to the Notice Address above. If you reject any future change, your account with CX Lending will be terminated, and you will arbitrate any dispute under the existing language of this provision.
• Severability and Enforceability: If an arbitrator or court finds any part of this document invalid or unenforceable, the other parts will still apply.
YOU UNDERSTAND THIS APPLICATION IS FOR A COMMERCIAL LOAN OR PURCHASE OF FUTURE RECEIVABLES, AND ANY FUNDS OFFERED TO THE APPLICANT MAY NOT BE USED FOR PERSONAL, FAMILY, OR HOUSEHOLD PURPOSES.
Federal law requires all financial institutions to obtain, verify, and record information identifying each person and entity that opens an account or establishes a relationship, including name, address, date of birth, social security or tax identification number, and other information to verify your or the entity’s identity. You may also be asked to provide identifying documents.