Legal terms for using Akron Loans

1. Introduction

Akron Home Finance LLC ("Akron," "we," "our," or "us") provides Akron Loans, a mobile loan-matching and lead-generation service. Akron is not a lender, does not fund loans, does not make underwriting decisions, and does not determine final APRs, payment schedules, or other lender credit terms.

Our primary business model is to collect consumer personal and financial information, organize that information into lead records, and sell those records to third-party lenders and marketing partners that may contact you with offers. By accessing or using the App, you accept these Terms, our Privacy Policy, and your express authorization for the collection and sale of data described herein.

2. Loan terms: APR, repayment, and fees

2a. APR range

Offers presented through the App may vary materially. Example APRs may range from 5.99% APR to 35.99% APR depending on your credit profile, requested amount, repayment term, lender underwriting standards, and applicable state law. Short-term or payday-style products may carry higher effective APRs; review each lender disclosure in full. The final APR is always disclosed by the lender before acceptance.

2b. Repayment terms

Repayment periods commonly range from 3 months to 60 months, based on loan product type and lender policy. Example only: a $2,000 installment loan at 24% APR over 12 months may equal approximately $189 per month. Your actual repayment schedule is lender-specific and disclosed before acceptance.

2c. Payment frequency and methods

Payments may be scheduled weekly, biweekly, semi-monthly, or monthly. ACH debit from a designated bank account is a typical repayment method. You are responsible for maintaining sufficient funds on each due date. Returned-payment charges may apply, often in an approximate $15-$35 range depending on lender policy and state law.

2d. Fees

Possible charges include origination fees (for example, 1%-8% of principal), late fees (for example, $15-$30 or 5% of the missed installment, whichever is less, where allowed), and NSF/returned-item fees. All applicable fees are disclosed before offer acceptance.

2e. Early repayment

Many lenders allow early payoff without prepayment penalties; however, you must confirm this in your specific lender agreement.

2f. Cost disclosure

Before you accept an offer, you should receive lender disclosures intended to comply with the Truth in Lending Act (TILA), including APR, finance charge, total of payments, payment schedule, and itemized fees.

3. Eligibility and requirements

To use the App, you must be at least 18 years old (or the age of majority in your jurisdiction), be a lawful U.S. resident, have legal capacity to enter binding contracts, maintain a valid SSN or ITIN, maintain an active U.S. checking account, and have a verifiable income source.

You are required to provide complete and accurate information, including: full legal name, date of birth, email, phone number, full residential address with ZIP code, SSN, driver's license number and issuing state, full bank account number, bank routing number, bank name and account type, employer name and employer phone number, employment status and income (monthly or annual gross), source of income, and purpose of the loan or cash advance request. The App may be used only for lawful personal and non-commercial purposes.

4. Express authorization to collect and sell data

By submitting an application through Akron Loans, you provide express authorization for Akron Home Finance LLC to collect all categories of information listed in Section 3 and in our Privacy Policy, and to sell or otherwise transfer your personal and financial data to third-party lenders, financial institutions, marketing entities, data aggregators, and other buyers.

This authorization expressly includes sale and transfer of SSN, driver's license information, full bank account number, routing number, employer phone number, income details, and loan purpose. You further authorize Akron to receive monetary compensation, per-lead fees, revenue-share amounts, or other consideration connected to those sale and transfer activities.

You also authorize recipients and buyers to contact you by phone, email, and SMS with financial and non-financial offers, subject to applicable opt-out rights described in our Privacy Policy. Akron may additionally disclose your information to identity-verification, fraud-prevention, and credit-reporting service providers.

You may opt out of future data sales by contacting [email protected]; however, data previously sold cannot be retrieved from, or undone within, third-party buyer systems.

5. What the App does and does not do

6. Account creation and security

You must maintain complete and accurate account information at all times. You are responsible for activity conducted through your credentials and device sessions. Notify [email protected] immediately if you suspect unauthorized access. We may conduct identity verification and may suspend or restrict account access where fraud, misuse, or policy violations are reasonably suspected.

7. Electronic communications and e-sign

You consent to receive electronic communications from Akron and participating partners, including email, SMS (including OTP), in-app notices, and legally required disclosures. Electronic records and electronic signatures are deemed legally valid under the E-SIGN Act and other applicable law.

Because this service includes lead sale and referral distribution, your consent to receive phone and SMS outreach from buyers regarding offers is a material term of service, subject to legal opt-out rights. To withdraw e-consent, contact [email protected]; withdrawal may reduce or prevent use of certain App features.

8. Fees and our compensation

The App is free for consumer download and use. Akron earns revenue by selling consumer lead data to third parties through compensation models that may include per-lead fees, CPL (cost per lead), CPA (cost per acquisition), revenue sharing, and similar arrangements.

These compensation structures may affect partner routing logic, recipient order, and offer presentation sequencing. We disclose this model consistent with FTC guidance and CCPA/CPRA sale transparency requirements.

9. Permitted use and prohibited activities

You may not: use the App for unlawful, fraudulent, misleading, or deceptive purposes; submit false or fabricated personal/financial information; interfere with App security or infrastructure; deploy bots or automation without written permission; upload malware or harmful code; reverse engineer or decompile the App; copy or redistribute App content without authorization; or impersonate a person or entity.

10. Third-party sites and providers

Lenders, buyers, and other recipients are independent businesses operating under their own terms and privacy rules. Akron is not responsible for third-party approvals, denials, rates, fees, product outcomes, or downstream data handling. You should independently review each third party's contractual terms and privacy notices before proceeding.

11. Intellectual property

All software, trademarks, branding elements, content, and technology used in Akron Loans are owned by Akron Home Finance LLC and/or its licensors. You are granted only a limited, revocable, non-exclusive, non-transferable license for personal, non-commercial use.

12. User feedback

If you provide feedback, suggestions, ideas, or comments, you grant Akron a worldwide, royalty-free, irrevocable license to use, adapt, publish, and incorporate such feedback without restriction and without compensation to you.

13. Disclaimers

14. Limitation of liability

15. Indemnification

You agree to defend, indemnify, and hold harmless Akron Home Finance LLC and its affiliates, officers, employees, and agents from and against any claims, losses, liabilities, damages, costs, and expenses (including reasonable attorneys' fees) arising out of your misuse of the App, violation of these Terms or applicable law, submission of inaccurate or false data, or infringement of third-party rights.

16. Governing law and dispute resolution

16a. Governing law

These Terms are governed by the laws of the State of Colorado and controlling federal law, without regard to conflict-of-laws rules.

16b. Binding individual arbitration

Except where prohibited by law, disputes will be resolved by binding arbitration on an individual basis under the Federal Arbitration Act (FAA). Class, collective, and representative proceedings are waived. The arbitrator is not authorized to consolidate claims across multiple parties.

16c. Informal resolution requirement

Before beginning arbitration, the claiming party must send written notice and allow at least 30 days for good-faith informal resolution by contacting [email protected].

16d. Exceptions

Claims seeking injunctive relief related to intellectual property misuse may be filed in courts located in Colorado.

17. Service changes and availability

We may change, suspend, restrict, or discontinue App features, partner integrations, and overall availability at any time, with or without prior notice.

18. Termination

We may suspend, restrict, or terminate access if you violate these Terms, engage in suspected fraud or abuse, or create risk to users, partners, or platform infrastructure. Provisions concerning intellectual property, disclaimers, limitation of liability, indemnification, arbitration, and any terms intended to survive will remain enforceable after termination.

19. Changes to these Terms

We may update these Terms from time to time. The Effective Date will be revised when updates are published. Material revisions may be communicated through in-app notice and/or email. Continued use after revised Terms become effective constitutes acceptance of the updated Terms.

20. Apple-related terms (iOS users)

21. Contact us