Micro Loan Terms and Conditions

1. Loan funding subject to lender approval.

2. Payment history will be used for present and future loans.

3. Credit history will be created as payments are receive on time.

4. Payment is due on the first of each month and late by the fifteenth.

5. Payments made after the fifteenth will be assessed a late fee. 

6. One percent of the payment amount will be the late fee amount.

7. Loan amounts range from $100 to $1000 U.S.

8. Twelve month loan period.

9. Simple Interest set at three percent above prime.

10. Example: $500 loan amount US prime rate 5.5% plus 3% loan rate of 8.5%.

Interest $42.50 plus $500 equals $542.50 divided by twelve months will be

$45.20 per month for twelve months.

11. No prepayment penalties.

12. Both lender and borrower must be on the same cryptocurrency platform. 

13. Crypto wallets allow funding transfers and payments to move between parties.

This allows all funding and payments to be tracked via blockchain. 

14. Geovault restricts one borrower to one lender per loan.

15. Once a loan has been paid back, another loan request can be submitted.

16. The above terms are subject to revision at anytime.