Effective Date:
Welcome to SomMicrofinance. By accessing or using our services, you agree to the following Terms of Service. Please read them carefully before using our platform.
1. Acceptance of Terms
By registering, accessing, or using SomMicrofinance, you agree to be bound by these Terms, our Privacy Policy, and any other rules we may publish. If you do not agree, please discontinue use of our services.
2. Eligibility
You must be at least 18 years old to use our services.
You must provide accurate, current, and complete information during registration.
We may verify your identity as part of compliance with financial regulations.
3. Services Provided
SomMicrofinance offers:
Micro-loans to individuals, groups, and businesses.
Savings and deposit accounts.
Financial literacy and advisory services.
Mobile and online access to accounts.
4. User Responsibilities
You agree to use our services for lawful purposes only.
You are responsible for maintaining the confidentiality of your account credentials.
You must repay any loans in accordance with the repayment schedule.
You must not engage in fraudulent, abusive, or misleading activities.
5. Loan and Repayment Terms
Loan eligibility, interest rates, and repayment schedules are determined by SomMicrofinance.
Late payments may result in additional fees or penalties.
Failure to repay loans may lead to legal action or reporting to credit bureaus.
6. Fees and Charges
SomMicrofinance may charge service fees, interest, or transaction costs as disclosed at the time of service. All applicable fees will be communicated clearly before you agree to any transaction.
7. Privacy and Data Protection
We value your privacy. All personal and financial information is collected, stored, and processed in line with our Privacy Policy and relevant laws.
8. Limitation of Liability
SomMicrofinance is not responsible for losses caused by factors beyond our control (e.g., mobile network failures, natural disasters, system errors).
We are not liable for indirect, incidental, or consequential damages.
9. Suspension or Termination
We reserve the right to suspend or terminate your account if you:
Violate these Terms.
Engage in fraudulent or illegal activities.
Fail to comply with repayment obligations.
10. Changes to Terms
We may update these Terms from time to time. Any changes will be communicated through our website, app, or other official channels. Continued use of the service after updates means you accept the revised Terms.
11. Governing Law
These Terms are governed by the laws of Somalia. Any disputes will be resolved in accordance with the applicable legal system.
12. Contact Information
For questions or support, you can contact us at:
SomMicrofinance
Email: info@sommicrofinance.com
Phone: 252611598863
Address: Makka Al Mukarrama Road, Isgoka Dabka3