The term Lender used in these Terms and Conditions of Use concerns both the Members who have already made one or several loan(s) on www.babyloan.org and the Members who have never made a loan on www.babyloan.org.
By using the Website, you have access to the range of services offered by Babyloan and consequently accept by de facto to be bound by these Terms and Conditions and those of our payment solution, Mangopay. You should read and review them regularly. They can be updated or modified by Babyloan in its sole discretion and without prior notice. Babyloan can also remove or add new clauses. If you continue to use the Website after such modifications, it means you agree with the new Conditions. If you do not agree with these present or future Conditions, please do not access the Website anymore.

I. Object of Babyloan.org

II. Conditions specifically linked to philanthropic lending on Babyloan

A. Responsability of the Website

B. Statement and responsabilities of the lender

1. Risk of the Loan

2. Capacity and bona fide of the lender

C. Object of the loan

D. Conditions of loan closing

1. Contribution

a. The “traditional” price list

b. Annual subscription

2. Availability

3. Anti-laundering policy

E. Conditions of reimbursement of the loan

F. The option “Babyloan lends on your behalf”

G. The Gift Card

H. Secure payment

III. Specific Conditions applying to the Lenders Community and the Website content

A. Properties of Babyloan

B. Responsability and Rights of the Lender – Use of the Lender account

1. The Lender account

2. Personal space

C. Responsability and Rights of the Website

1. Content of the Website

2. Availability of the Website

D. Privacy policy about the data collected from the Lender

1. Cookies

2. Type of emails sent

E. Relations between the members of the Community

1. Group

2. Mentorship

F. The Philanthropic Money Pot service

A. Creation of the Philanthropic Money Pot

B. Participation to the Philanthropic Money Pot

C. The recipient of the Philanthropic Money Pot

Preamble :

  • ABC Microfinance is the company editing and administrating the website Babyloan. It can be referred to by the acronym ABC.
  • The titles of the articles of these Conditions are given for your information and do not define or limit their content.
  • Governing law and disputes: these Conditions are subjected to the French law. These Conditions were originally written in French. In case of dispute concerning the interpretation and execution of these Conditions, only the court of appeal of Paris will be competent.
     

I. Object of Babyloan.org

  • The Website is meant to facilitate the access to microcredit under the best conditions for microentrepreneurs living in developing countries or France. Individuals participating in financing microfinance for philanthropic purposes allow the growth of a sector with a strong social vocation.
  • The Website chose a sponsorship approach by offering a service of “peer-to-peer lending” allowing a better understanding of what microcredit is and the creation of a bond with the microentrepreneur (“the Beneficiary”). Connecting the Babylonian with the Beneficiary being impossible given the technical constraints, the company ABC Microfinance connects the Babylonian with the MFI, local microfinance institution to which the Beneficiary asked the financing of his project.
  • The Website is consequently a tool to support these local partners, major protagonists of microfinance.
  • The Website is also meant to raise awareness among the largest number of people about microfinance and New Solidarities in general, like social businesses or social web.
  • The Website is a communitarian platform allowing internet users to become members and members to log in, to create groups to gather and to share in discussion forums within the groups.
  • The Website offers members the possibility to subscribe to services and options.
  • The Website also provides Internet users with pedagogical contents about Babyloan, microfinance, crowdfunding, etc.
  • The acceptance of these Terms and Conditions of Use constitutes acceptance of the present Terms and Conditions of Use of the services of our online payment operator MangoPay, avalaible at https://www.mangopay.com/terms/end-user-terms-and-conditions/Mangopay_Terms-EN.pdf.

II. Conditions specifically linked to philanthropic lending on Babyloan

A. Responsability of the Website

ABC is not involved in the fulfillment of the Loan Agreement: its sole contribution is to put the Lender in contact with the MFI and to transfer the amount of the Loan on the MFI’s bank account. ABC cannot be held responsible for the breach of the local contract or its misfeasance, and in particular the non-repayment of the Loan by the Beneficiary or the MFI. It is expressly stated that ABC only offers an account available to the MFI so that it can transfer the repayment from the Beneficiary. In no case will ABC make a collection of the due sums from the MFI in case it goes bankrupt.
The MFI Partners of Babyloan are the sole responsible for the identification and selection of the projects of microentrepreneurs they choose to post on the Website. ABC cannot be held responsible for the choice of the projects posted online, even though ABC has a right of inspection concerning the projects of micro-businesses suggested by the MFI partners. If, during a maximum period of one year and one day, the Lender has not received any repayment from the Beneficiary or the MFI, nor made a new loan or withdrawn his money, and this despite our email reminders, then ABC Microfinance considers that the Lender consents to subscribe to the option “We lend on your behalf” (see below).
By subscribing to this option, the Lender allows ABC Microfinance to lend money on his behalf, as soon as the amount of his piggybank makes it possible to do so, to the projects ABC Microfinance considers as priority project. The Lender will be informed of the selected projects by email. The Lender will be able to stop this option whenever he wants in his personal space, and to start using his piggybank again as he wants (making a loan to a project or transferring the money on his bank account). The contributions paid in the context of this option will not be repaid.

If ABC Microfinance is not able to lend on behalf of the Lender (piggybank amount lower than €12 and no repayment to come), then the money will stay in the piggybank of the Lender until he/she lends money again or withdraws the money from the platform.

If during the fulfillment of the Loan Agreement, ABC Microfinance is materially unable to contact the Lender (either because the Lender has moved and has not informed ABC or because he does not answer the messages sent by ABC Microfinance or did not enter a valid email address), the amount of the piggybank will be kept for 1 year and one day. The Lender will automatically subscribe to the option “We lend on your behalf”.

B. Statement and responsabilities of the lender

The services offered by the Website are according to the French law in force. ABC cannot be held responsible in the event of noncompliance with the legislation in force in the country of the Lender. Consequently, the Lender must check with the local authorities that they are allowed to sign the Loan Contract.

The Lender acknowledges that despite the care with which ABC chooses its MFI partners of the Website and with which it does the follow up of their situation, ABC cannot guarantee neither the solvency of the MFI nor the solvency of the Beneficiary.
The information appearing on the Project Page was collected and passed on by the MFI. The Lender acknowledges and agrees that given the geographical distance and the level of development of the Country of the Beneficiary, it is materially impossible for ABC to check the information about the Beneficiary, which are then passed on under the sole responsibility of the MFI.This also applies to the loans signed with a French or European MFI.
 

1. Risk of the Loan

The Lender acknowledges and agrees that given the situation of the Country, of the MFI and of the Beneficiary, there is a risk of non-repayment of the Loan and that:

  • The Loan is firstly a social and philanthropic action
  • The countries of the MFIs and Beneficiaries are subjected to risks of political and economic instability. ABC advises the Lender to browse the French Ministry of Foreign Affairs website (http://www.diplomatie.gouv.fr/fr) in order to be informed about the economical and political situation of the Country.
  • In the case in which the MFI does not fulfill its commitments: given the country where the MFI works, the legal ways of collecting its repayment are expensive and are likely to fail.
  • The Beneficiary is economically vulnerable
  • The exchange rates changes and in particular the fall of the Country’s currency can affect the capacity of repayment of the MFI, which bears the foreign exchange risk. Indeed, the sums lent by the Lenders are transferred in Euros to the MFI, which then converts them in local currency. The repayment of the Loan by the Beneficiary is done in local currency to the MFI, which then converts it in Euros to reimburse the Lender.
     

2. Capacity and bona fide of the lender

The Lender asserts that:

  • He is of age, in the case of a loan granted by his own means. In case of a loan granted thanks to a Gift Card, a dispensation is applied for persons under 18 so that they can make a loan.
  • He personally owns the funds and he has the legal right to do anything he wants with it.
  • He is not under guardianship or any other measures limiting its capacity to agree to these Conditions. In case of persons under 18, they assert that their parents or legal tutors have allowed them to use the Website services.
  • The funds come from legal activity.
  • He acknowledges the fact that he cannot apply for a tax deduction. Indeed, it is a loan, not a donation.
  • He has an electronic mailbox working well and allowing him to send and receives emails. Indeed, without it, the Lender could not get the written confirmation of the order and information about the monitoring of his loan.
     

C. Object of the loan

The Website was created to give, in the best conditions, an access to microcredit to entrepreneurs living in developing countries (or in France). The direct connection between the Beneficiary and the Lender being impossible because of technical constraints, ABC provides the connection of the Lender and with the MFI, i.e. the local microfinance institution to which the Beneficiary applied for a funding of his project.
The subject of the contract between ABC and the Lender is to connect the Lender with the MFI in order to contract the Loan Agreement and to transfer the money lent by the Babylonian to the MFI. ABC Microfinance will keep the Babylonian regularly informed by email about the progress status of the loan granted to the beneficiary by the MFI.

D. Conditions of loan closing

The Loan is materialized by the closing of the Loan Agreement with the MFI. To know the conditions of the Loan Agreement, please see the contract submitted to the Babyloanian after he chose the beneficiary and the amount of the loan.

By double-clicking or by clicking on the validation button, the Lender validates the loan and hereby accepts fully and without reserve to the Conditions the Loan Agreements and these Terms and Conditions. The Lender will receive an acknowledgement of receipt of the validation of the Loan Agreement under the form of a payment confirmation email. The computerized records stored in the ABC computer system in conditions of reasonable safety will be considered as evidence of the occurred loan and payment.
The archiving of the transaction, the Loan Agreement, and the invoice is made on a reliable and sustainable hardware corresponding to an exact and lasting copy in accordance with article 1348 of the French Civil Code. Whenever willing to, the Lender can consult the Loan Agreement concluded at distance with the MFI on their personal space on the Website.
The minimum amount a Lender can lend is €10 and they can increase this amount by €1 increments.
The general conditions applicable to the Loan Agreement are as follows:

  • The loan made by the Lender is interest-free, The Lender is not entitled to claim the payment of interest;
  • Several internet users can support the same project. Consequently, the date of the closing of the loan will be the day the total amount of the loan has been financed online or, at the latest, three (3) months after the Project Page of the Beneficiary was posted online if the total amount appearing on the Project Page has not been financed entirely by Lenders. Furthermore, ABC may have to temporarily suspend the funding of a Beneficiary and consequently delay the date of the closing of the loan contract.
  • The MFI is allowed to charge interest rates to the final Beneficiary in order to cover its operating costs. The Babylonian can consult the interest rates on the descriptive file of the MFI available on the Website.
     

1. Contribution

The contribution is used to cover the transaction processing costs.

  • Maintaining and optimizing the Website : www.babyloan.org
  • Sharing with lenders and answering to their different requests
  • Selecting, controlling and accompanying our field partners, the Microfinance Institutions
  • Managing funds transfer and the repayment of lenders
  • Following the news of partner countries and identifying major events
  • Coordinating and translating microentrepreneurs’ profiles
  • Collecting and conveying microentrepreneurs’s news
  • Promoting and disclosing the concept of philanthropic loan and the Website www.babyloan.org

For information purposes, 20% of the contribution paid is transferred as VAT. It is paid by the Lender during the closing confirmation of Loan contract.

Moreover, as explained above, there is a period between the moment the amount lend by credit card is transferred and when the money is sent to partner MFI. This period is about 15 days and does not exceed 3 months. ABC Microfinance is allowed to make the money pending to be transferred on the field work on a financial secured placement. This way, it contributes to the income of the website.

a. The “traditional” price list

In remuneration of the service provided by ABC that facilitates the connection between the Lender and the MFI, ABC charges a fee based on the amount of the loan made by the Lender according the following price scale:
Amount of the loan Amount of the commission (including all taxes)
From 10 to € 20 2
From 21 to € 40 3
From 41 to € 60 4
From 61 to € 80 5
From 81 to € 100 6
From 101 to € 200 8
>= € 201, € 3 per additional € 100
The Lender is free, if he wants to do so, to increase the amount of the fee given by the “traditional” price list.
Example:
A €50 loan will result in the payment of a €4 fee to ABC Microfinance.
A €200 loan will result in the payment of a €8 fee to ABC Microfinance.
A €210 loan will result in the payment of a €11 fee to ABC Microfinance.
A €380 loan will result in the payment of a €14 fee to ABC Microfinance.
 

b. Annual subscription

The annual subscription is a rate option which allows the Lender to pay the contribution to ABC Microfinance once a year, and not at each transaction. Once the Annual subscription is paid, the Lender will not pay contribution during one year. At the end of the Annual subscription validity period, the Lender will be able, whether to renew this subscription by paying again the rate, whether to pay according to traditional price list (see above).
The amount of the Annual subscription corresponds to 10% of the money the Lender has on Babyloan at a given moment, whether this money is available on his piggybank or in the field (which repayment is pending). The amount of Annual subscription is thus personalized for each Lender. The Lender is free to increase the amount of Annual subscription in order to support ABC Microfinance.

For example:

  • A Lender who has just lent €100 (thus has €0 in his piggybank, and €100 of pending repayment), will pay an annual subscription of minimum €10.
  • A Lender who made two loans of €100 each (€200 in total), and who has been repaid €40 for each (thus has €80 in his piggybank and €120 of pending repayment), will pay an annual subscription of minimum €20.
  • A Lender who has been fully repaid of a €150 loan (thus has €150 in his piggybank and €0 of pending repayment), will pay an annual subscription of minimum €15.

2. Availability

The loan offers available on the Website are proposed to the Lender provided that:

  • The Beneficiary has not given up their refinancing project;
  • At the time of acceptance of the Lender, the Beneficiary has not already been fully funded;
  • ABC does not have to suspend, temporarily or permanently, relations with the MFI, in particular if ABC has doubts about the integrity or solvency of the MFI or because the MFI lost its authorization to have an activity of credit in its country;
  • ABC does not withdraw the Project Page from the website because it has doubts about the person of the Beneficiary or the target of the funds lent.

In the cases listed above - the Loan Agreement will be ipso jure broken. The Lender will be notified by email. They will have the option either to demand repayment of the Loan on their account or to choose a new beneficiary and conclude a new Loan Agreement with the MFI concerned or another MFI partner of ABC following the modalities described above.

3. Anti-laundering policy

In collaboration with its operator of online payment and in accordance with French regulations and banking standards against money laundering, ABC Microfinance has established banking movements thresholds beyond which a detailed procedure of “Know you clients” (KYC) must be established.

The first threshold is reached when the total amount of money paid by the Member is superior to €2,500 (two thousand five hundred Euros) per calendar year and/or makes one or more Repayment applications of a total amount superior to €1000 (one thousand Euros) per calendar year. So ABC Microfinance, for MANGOPAY SA, systematically asked, prior to the execution of the operation, to provide a copy of a valid official identity document containing a photograph and any supporting documents  that it will consider useful if need be.

The second threshold is reached when the total amount of money paid by the Member exceeds 15,000 (fifteen thousand) Euros per calendar year. So ABC Microfinance, for MANGOPAY SA, systematically asks him/her, prior to the execution of the operation, to give his/her occupation and his/her income level (number from 1 to 6) and any supporting documentation that it considers useful if need be.

The Lender agrees that ABC Microfinance may have to set up monitoring systems which purpose is the fight against money laundering and terrorist financing.

The Lender acknowledges that MANGOPAY SA and / or ABC Microfinance can put an end or delay at any time the use of a user name, the access to an Account or the fulfillment of an action (Loan, Withdrawal, participation in a Money Pot, etc.) in the absence of any sufficient element about its purpose or its nature. He/she is informed that an operation performed as part of these may be the subject of the exercise of the right to communicate to the national financial intelligence.

The Lender may, in accordance with rules, access to all the information thus communicated provided that the right of access does not undermine the purpose of fight against money laundering and terrorist financing when the data are related to the applicant.
No prosecution and no civil action may be brought, nor any professional sanctions may be imposed against ABC Microfinance or MANGOPAY SA, their directors or employees who made good faith statements of suspicion to their national authority.

For further information or precision, the Lender shall refer to the Terms and Conditions of use of MangoPay.

E. Conditions of reimbursement of the loan

Repayments are made on the Lender’s piggybank (which was created simultaneously with their user account and is available on their personal page) in periodic installments, in the form of monthly repayments, the amount of which is calculated by dividing the loan granted by the Lender by the number of months of maturity of the project supported, as indicated on the Project Page.

Please note that you have to wait several weeks to receive the first repayment. The repayments start about 2 months after the project you supported has been fully financed.
Example: if a Lender lent on March 10th, but the project has been fully financed on April 10th, then the first repayment will be credited on the Lender’s Babyloan account by the end of June, (two months after the end of the financing on April 10th).
This period corresponds to the fact that the collect of Lenders’ philanthropic Loans is sent at the end of the month to the MFI. This transfer has to be subjected to a money reception confirmation by the MFIs before being assigned to Beneficiary’s microcredit. Then, the repayment of MFIs’ monthly installments to the Lender’s piggybanks is also subject to the same control procedure and banking confirmation, which explains that the crediting dates on piggybanks can change from one month to the next.
In the eventuality of the MFI reimbursing the total amount of the loan by anticipation to Babyloan, the Lender will be informed by email and the corresponding sum will be credited on his piggybank.
The transfer of these monthly repayments corresponds, as indicated on the Loan Agreement, to the monthly transfer done by the MFI on a special account opened by ABC in a credit institution based in France. The sum transferred on this temporary account is then reallocated to the Lenders’ piggybanks who have participated in the financing of the same Beneficiary on the prorata of their participation in the financing of the Beneficiary.

The Lender will then have the possibility:

  • Either to be reimbursed a part or the whole amount of the money found in their piggybank by a bank wire transfer to their bank account of which they will give the bank account information to Babyloan
  • Or to allocate a part or the whole amount of money found in their piggybank to the same or a new Beneficiary chosen on the Website, for a minimum amount of €10. A new Loan Agreement will be then signed between the Lender and the corresponding MFI. In this case, the Lender will have to pay the commission fees again.
  • In the eventuality of one or several monthly repayments not been reimbursed at the maturity of the Loan agreement, ABC will inform the Lender, who will then have the possibility to personally instigate legal action against the MFI, in particular in these cases:
  • The MFI lost the authorizations necessary to exercise its activity
  • The MFI did not allocate the sums lent to the Beneficiary chosen by the Lender.

And demand an anticipated reimbursement of all the sums due to the Lender by the MFI by virtue of the Loan Agreement signed with the Lender. In such a case and on the condition that the MFI had reimbursed by anticipation, ABC will inform the Lender and they can choose from the solutions explained above regarding the repayment of the Loan.

During the completion of the loan contract, the MFI guarantees the repayment of the loan by the Beneficiary and promises to reimburse the Lender in case of default of the Beneficiary. However, the Lender must be aware that given the Country in which the MFI exercises its activity, the legal ways of recovering this debt are expensive and the probabilities of success are low. The Lender therefore acknowledges that given the situation of the Country, the MFI and the Beneficiary, there is a risk that they will not be reimbursed of the amount of the loan at the end. The motives of the Lender closing the loan are consequently philanthropic

F. The option “Babyloan lends on your behalf”

In your personal space, (“My profile”, tab “Option: we lend on your behalf”), the Lender can subscribe to the option “Babyloan lends on your behalf”.

By subscribing to this option, the Lender allows ABC Microfinance to lend on his behalf, as soon as the amount of his piggybank makes it possible to do so, and this, by allocating €30 maximum per project, to the projects corresponding to the criteria set by the Lender.

ABC cannot be held responsible in case of a failure from an MFI to which the Lender lent money through the option “Babyloan lends on your behalf”.

There are two options in the selection of preferences:

1/ The Lender checks the criteria he wishes (country, activity sectors, microentrepreneur gender). If the Lender checks several countries, the amount of the piggybank will be split between these countries, up to €30 maximum per project. If the Lender checks one (or several) country(ies) as well as one (or several) activity sector(s), these criteria are cumulative. If no projects correspond to the criteria of the Lender, the money will not be lent.
- Ex 1: if the Lender has €100, and chooses to lend in Peru and Cambodia, ABC Microfinance will lend €30 in Peru and €30 in Cambodia, and then a third loan of the same amount in Peru or Cambodia. Unless the Lender has subscribed to Annual subscription, ABC Microfinance will then deduct the contribution of €5 (see above) from the Lender’s piggybank. Thus, the Lender will have made 3 loans, and there will be €5 left on his piggybank.
- Ex2: if the Lender has €50 and chooses to lend to women in Palestine, we will only lend the money if there are projects in Palestine AND if the project holder is a woman. Otherwise, the money will be immobilized on the piggybank until projects of this type are published.
ABC Microfinance highly recommends selecting several countries if the first option is selectedin order to diversify the risk. Thus, we will be able to split the loans between different MFIs and to reduce the risk, which is borne by the Lender.

2/ The Lender allows ABC to choose the projects on his behalf. In this case, ABC will assign the money to the MFIs which have priority, by diversifying the MFIs, and thus the risk, as much as it is possible.
In both cases, the Lender will be informed by email of selected projects, and will be also able to find them in his personal space (“My money”, tab “Repayment schedule”). The projects supported in the frame of this option display a question mark ("?").
Whenever he wants, the Lender will be able to change his preferences (he will be informed that these modifications are taken into account) or to change this option in his personal space. In this case, he will be able to use his piggybank as he wants (to make a loan to a project or to transfer the money on his bank account).
As part of the option “Babyloan lends on your behalf”, the Lender has also the possibility to credit his piggybank with the amount he wants from his personal space (“My money”, tab “Option; we lend on your behalf”. In this case, the money is not directly assigned to a project. It is credited on the piggybank, waiting for a project corresponding to the preferences of the Lender.
 

G. The Gift Card

The Lender who wants to offer a Gift Card (“the Lender offering”) acknowledges that they cannot benefit from a tax deduction applicable only to donation.
The Lender willing to offer a Gift Card to a person who may or may not be a member of the Website (“the Lender recipient”) transfers, via the Website, , between €10 and €1000, plus the commission fees received by ABC when the order is confirmed. This money, less the remuneration of ABC, will be transferred to the piggybank of the “Lender recipient” and will be then specifically allocated to the conclusion of a loan on the Website according to these Conditions.

The Lender recipient has then 31 days from the day the Gift Card was received to use it on the Website.

During the completion and the repayment of the loan, as well as in case of cancellation, the Lender will be informed by email and will have the possibility, to the express clause that the loan has been reimbursed by the MFI, to:
-either contract a new Loan Agreement;
-or ask to receive their gift token, for a minimum amount of €10.

The Recipient of the Gift Card is the only responsible for the keeping and the use of the code used to activate the Gift Card. They will be held responsible for any fraudulent use of this code. The Lender must inform without delay ABC of the loss or the accidental divulgation of this code, so that ABC can cancel it and give the Lender another code.
In the eventuality of a Gift Card not activated within 30 days, the Lender offering will be informed by email and the money will be repaid on their Babyloan piggybank, except for the remuneration, which stays the property of ABC. They will then be able to ask to be repaid by wire transfer on his bank account.

H. Secure payment

The payment of the amount of the Loan, plus the remuneration paid to ABC Microfinance can be done by using Visa or Mastercard bank cards, bank wire transfer or direct debit. The payment process is carried out during the validation of the Loan Agreement, materialized by clicking on “I accept”.
The Website is protected by a data securization system protecting as effectively as possible every important data of the payment process. The bank details are conveyed one time only during payment. Credit card payments will be carried out through the secured system of the society MangoPay, by using the SSL protocol (Secure Socket Layer) so that the information delivered is encrypted by a software and no one can access to it during its transportation on the network.

The Lender can check anytime if they are still on a secured page by looking at the address of the page and the status bar of the web browser. The beginning of an address secured by SSL protocols begin with https rather than http (letter “s” added). The address of the page displays a yellow padlock.

III. Specific Conditions applying to the Lenders Community and the Website content

A. Properties of Babyloan

The Lender acknowledges and agrees that the Intellectual Property Rights accruing to the Website and the whole information available on the Website whatever their format (text, video, photo, pictures, etc.) is the exclusive property of ABC. No clause of these Conditions can be interpreted as investing the User with a right on the Intellectual Property Rights. The Lender is granted only the right to see the Editorial Content on a personal and private basis, any public display is forbidden without a prior authorization from ABC Microfinance.
In this regard, and in compliance with the French Intellectual Property code, any representation, reproduction, use or extraction as well as any other Right of intellectual property of the Content or the Website non-allowed by ABC is strictly forbidden under penalty of legal proceedings.
The offender incurs civil and legal proceedings, in particular the sentences set out under French Intellectual Property Rights, section L. 335.2 and L. 343.1.
Babyloan makes available for the Lender various diffusion tools of its Website and its Content, in particular within social networks such as Facebook, Twitter, and others, or within the blogs of the Lenders. The publication, when made by using these tools, is allowed, but only if the sources and property of Content to ABC is mentioned.

B. Responsability and Rights of the Lender – Use of the Lender account

The User expressly acknowledges and agrees that they must be selective in their use of the Services and the Editorial Content and bear all the relative risks. They also agree to respect the rules and customs in effect on Internet, known as Netiquette as well as the various codes of ethics and in particular the Internet Etiquette you can find on Internet.
The Lender agrees that they know the Internet, its characteristics and limits, in particular the risks of data hacking or the use of cookies allowing an easier browsing but requiring to temporarily backing up data in the Website hard disk.

1. The Lender account

The creation of a User Account automatically leads to the creation of an “Account” on Leetchi, as described on the Terms and Conditions of Use of MangoPay.

To use some of the services on the Website, the Lender must create an account and respect a registration process through which they have to give their contact information.
At this occasion, the Lender:
• Asserts that all information communicated, in particular the personal information, is at any time exact, complete and updated, and to make any change necessary to this purpose. This update is particularly important because ABC Microfinance must be able to contact the Lender during the completion of the Loan Agreement. Without this update, ABC Microfinance would be materially unable to reimburse the Lender.
• Promises to keep confidential the information about the identifier and the password of their account, and accept to be held responsible for any fraudulent or inappropriate use that could be made of it,
• Acknowledges and agrees that a part of their personal information will be publicly available on the Website and that they are the sole responsible for any other information they could communicate to other Users while being connected to them or sharing with them. Please note that the photo published by the member on his personal space is public information that can be seen by every internet user as soon as the Babylonian uploads it on their profile,
• Abstains from creating an account for a third party,
• Abstains from usurping someone else’s or an entity’s identity , falsifying or concealing their identity, age or affiliation to another person or entity

Besides, while using their account, the Lender agrees to post, convey, share or make available only information or comments concerning strictly the following fields: Babyloan, the Website, microfinance, development help, solidarity, social entrepreneurship or social business, social web.

Should the Lender contravene to some or the whole of these Conditions, ABC Microfinance reserves the right to cancel unilaterally and without prior notice the account of the Lender and to forbid them to open a new account sine die without prejudice to the rights and actions of the Lender.

In compliance with the French Act n°78-17 of 6 January 1978 on Data Processing, Data Files and Individual Liberties amended by the Act of 6 August 2004, the Lender has an individual right of rectification, modification and cancellation of any of his personal data. The Lender can ask that the rectification, completion, clarification, update or cancellation of his data if they are inexact, incomplete, ambiguous, or out-of-date or when he wants to forbid the collect, the use, the communication or the conservation if these data.

In order to do so, please send a request to the Website contact email box : contact@babyloan.org.

ABC Microfinance informs his Clients that the treatment of these nominative and/or personal data has been subject to a statement to CNIL (French national data protection authority), with the number 1469351 of November 30th 2010.
 

2. Personal space

The Lender's personal space is accessible by logging in. The Lender has to enter the email address he used to sign in and his password. In the case he forgot his password, he can ask for a new one that he will receive by email.
The personal space allows the Lender to have access to some services (transfer from his piggybank to his bank account, subscription to the options, privacy, etc.), as well as the information about his behavior on Babyloan (statistics, groups, gift cards, repayment schedule…).
In detail, the personal space is composed of 4 headings, and each one is divided into various tabs:

  • Dashboard: this heading presents the main information about the Lender and guides him towards the other pages of the personal space
  • My money: this heading concerns the piggybank of the Lender
    • Tab "Statistics"
    • Tab “Repayment schedule”: this tab presents the different loans made by the Lender, as well as his repayment schedule.
    • Tab “History” (yet to come).
    • Tab “Withdrawal”: this tab enables the Lender to withdraw all or part of his piggybank on his bank account and to edit his bank details.
  • My profile: this tab enables the Lender to edit his personal information and his options.
    • Tab “My profile”: this tab displays all the personal data of the Lender that he can change whenever he wants.
    • Tab “My preferences”: in this tab, the Lender can manage his email preferences. Thus, he decides if he wants to receive the newsletter and the Email Alert (see below).
    • Tab “Option: annual subscription”: in this tab, the Lender can subscribe to the Annual subscription (see above).
    • Tab “Option: we lend on your behalf”: in this tab, the Lender can subscribe to the option “Babyloan lends on your behalf” and/or credit his piggybank with the amount he wants.
  • My activity: this heading provides the Lender with information about his behavior:
    • Tab “Groups”: in this tab, the Lender can see the Groups he leads, and those he is a member of.
    • Tab “Gift cards”: in this tab, the Lender can see the Gift cards he received and offered.
    • Tab “Mentorship”; in this tab, the Lender can sponsor a friend (see below) and monitor his invitations.
    • Tab “Philanthropic Money Pot”: on this tab, the Lender can create a Philanthropic Money Pot, see the Money Pots he already created, the Money Pots to which he participated in, leave Money Pots and see the Money Pots he is a member of.

C. Responsability and Rights of the Website

Content of the Website

ABC Microfinance dedicates a lot of attention to the composition of the Content. However, ABC Microfinance does not guarantee the reliability of the information of the Content, in particular the use of hypertext links towards other online resources, which does not mean that Microfinance approves of these resources or their content.
In this regard, ABC Microfinance cannot be held responsible for the damages resulting from the use of the information of the Content by the Babylonian for any purpose.
ABC Microfinance reserves the right to moderate at any time the Editorial Content and in this regard, to make any useful modification or cancellation to the Editorial Content (including the comments posted on the Website by the Lender).
 

Availability of the Website
ABC Microfinance does its best to keep the Website available 24 hours a day, 7 days a week but may interrupt the access, in particular for maintenance or updating reasons, or for any other reason. ABC Microfinance cannot be held responsible of these interruptions and their consequences for the User. ABC Microfinance reserves the right to refuse to any User the access to the whole or a part of the Website unilaterally and without prior notice, in particular in case of manifest violation of these Terms and Conditions of Use. The user acknowledges that ABC Microfinance cannot be held responsible for any direct or indirect damage caused by the deletion of the User access to the website.
 

D. Privacy policy about the data collected from the Lender
The data communicated by the User will be used by ABC Microfinance services and its annuitants, as well as the MFIs and its annuitants to reinforce and add a personal touch to their communication. Aware that the collect and processing of personal data on Internet must respect the fundamental, ABC Microfinance guarantees that any personal data processing will abide by the French Act n°78-17 of 6 January 1978 on Data Processing, Data Files and Individual Liberties. The User has an access right (section 34 to 38 of the law of 1978) and a right to rectification of his personal data.
The User can exercise this right at any time by modifying his profile available on his Personal Space once he is logged in. They can then rectify, complete, clarify, update or erase the information about him that would be inexact, incomplete or out-of-date.
ABC Microfinance guarantees to do its best to protect the personal data, in order to prevent them to be twisted, damaged, or communicated to unauthorized persons in compliance with the clause 29 of the French law of January 6, 1978.

1. Use of cookies

What is a cookie?

A cookie is a file saved on your computer when you visit a website. We may use cookies to provide you with the most optimized “user experience” possible.

Babyloan.org uses cookies to:

  1. Limit the display of “Newsletter” pop-up
  2. Share content on social networks
  3. Know your navigation preferences: hour, day, place, etc.

Block or allow cookies

You consent to the use of cookies by clicking on “Ok” or by continuing to visit the website, in other words by clicking on any other page element of the website.

We inform you that you can refuse at any time the registration of these “cookies” by configuring your computer according to the modalities detailed on www.cnil.fr

2. There are three types of emails sent by ABC Microfinance to the Lender:

1/The “transactional” emails. These emails are linked to the service provided by ABC Microfinance. Thus, when a Lender makes a payment, he receives an email summing up the detail of said payment. Additionally, when the MFI repays the Lender, we inform him by email. You cannot define the parameters of these emails in your personal space.

2/The newsletter. We send information (field information, new countries, new option, news, etc.) on a regular basis to the members who allowed us to do so. If the Lender does not want to receive the Newsletter anymore, there is a link at the end of each email to unsubscribe. He can also uncheck the box in his Personal Space.

3/The Email alert. This option can be activated by the Lender in his Personal Space (“My profile”, tab “Preferences”). The Lender chooses his criteria (country, activity sector, gender) and receives an email as soon as new projects corresponding to his criteria are published, or else a weekly summary of the projects corresponding to his criteria.
The Lenders are invited to enable their email box to accept the messages coming from the following addresses:

  • suivi@nmp.babyloan.org
  • communaute@bbl.babyloan.org

ABC Microfinance is not responsible for the incorrect reception (Spam), or the non-reception of sent emails.

Relations between the members of the Community

The Website’s vocation is to be a communitarian Website within which the members are encouraged to share. Different actions have been developed to this purpose. Here are the rules governing them, that you automatically accept when you use the functionalities.

Group

On Babyloan, you can create or join one or several groups. There are three kinds of groups: open groups that the Lender can join freely without conditions and semi-closed groups that you can join in two different ways: by accepting the invitation sent by the leader of the group or by making a request of integration that has to be accepted by the leader of the group
Finally, closed groups are only accessible after receiving an invitation from the leader of the group.
All the members of a group can share information through the discussion system. ABC Microfinance reserves the right to suppress unilaterally and without prior formal notice each group and/or content which would not correspond to the subject of Babyloan website and/or contravene to French law.

Mentorship

The Lender can “mentor” one of his relative to become a Lender on Babyloan. In order to do so, he sends him a personalized URL from his Personal Space (“My activity”, tab “Mentorship”) or after the finalization of the payment.
If someone joins and makes his first loan on Babyloan after clicking on this personalized link, he becomes the “Mentoree” of the person who sent the URL (“the Mentor”). The Mentor is informed by email when a new “Mentoree” comes in.
When a Mentor manages to take on two “Mentorees”, Babyloan sends him a €10 Gift Card that he can use as he pleases.

The Philanthropic Money Pot service

The Philanthropic Money Pot service is offered by ABC Microfinance on the website www.babyloan.org. It is a device which allows donations to be collected for a recipient. The latter must lend the whole amount he received at least once on www.babyloan.org, before withdrawing the money from the platform and using it as he wants.

The device enables Babyloan members to:

-create a Philanthropic Money Pot

-and/or to make a financial contribution to a Philanthropic Money Pot

-and/or to be the recipient of a Money Pot

Each of these three uses of the Philanthropic Money Pot requires the user to be a member of Babyloan and will constitute acceptance of the present Terms and Conditions of Use in their entirety.

The creator, just like the recipient and the contender of the Philanthropic Money Pot, accept the detailed functioning of the Philanthropic Money Pot:

  • The amount gathered can be displayed for everyone after and during the Philanthropic Money Pot,
  • Private information can be published online (ex: photographs, first name, last name, age of the recipient, etc.),
  • The URL of the Philanthropic Money Pot can be shared by email, on social networks, or by any other mean,
  • ABC Microfinance/Babyloan can send emails to keep internet users posted about the evolution of the Philanthropic Money Pot or for any other reason,
  • etc.

A. Creation of the Philanthropic Money Pot

The creator of the Philanthropic Money Pot can:

  • Either be the recipient of the Money Pot;
  • Or designate another recipient.

The creator of the Philanthropic Money Pot is required to give accurate information about the recipient, in order not to mislead the contenders. Otherwise, ABC Microfinance reserves the right to deprive the creator or the recipient of the Money Pot and to make use of the money, for instance to repay each of the contenders.

By no means can ABC Microfinance be held responsible for the words and documents used by the creator for the creation and the maintenance of the Philanthropic Money Pot.

Under no circumstances shall the creator of the Philanthropic Money Pot claim for the immediate repayment of the money from the platform www.babyloan.org once the Money Pot is closed. The money will be transferred onto the piggybank of the recipient’s Babyloan account and will have to be lent at least once.

The creator of the Philanthropic Money Pot is free to communicate to his relations about his project, in order to get the number of contenders he wants, as long as the present Terms and Conditions of Use are respected.

By no means is ABC Microfinance required to communicate about a user’s Philanthropic Money Pot. By no means shall ABC Microfinance be held responsible if the creator of a Philanthropic Money Pot has not gathered the expected funds.

However, ABC Microfinance is allowed to communicate about the Philanthropic Money Pot of a user to its community and to the general public, as well as to its partners or professional prospects for its communication needs. The creator of the Philanthropic Money Pot will have to give his consent beforehand.

The creator of a Philanthropic Money Pot is allowed to be a contributor of his own Philanthropic Money Pot.

The creator accepts to feature among the members of the group created for the Philanthropic Money Pot.

B. Participation to the Philanthropic Money Pot

To make a financial contribution to a Philanthropic Money Pot, the internet user will have to create an account or be logged in to his Babyloan account if he already has one. Otherwise, every internet user can participate in a Philanthropic Money Pot, provided that he obtained the link from the creator, from another contender or by any other mean.

Within the framework of the Philanthropic Money Pot, the financial participation of the internet user is not a Loan but a Donation. The recipient of the donation is not a microentrepreneur but the person designated by the Creator of the collect. Hence, the contender will not be able to get the money back.

It is possible to donate on a Philanthropic Money Pot from €1.

Furthermore, any internet user who has access to a Philanthropic Money Pot link will be able to use the share buttons available on the Money Pot to entice other internet users to participate in.

Any contender is free to make a financial contribution anonymously. Except in this precise case, all contenders accept to be gathered in a group for the Philanthropic Money Pot.

C. The recipient of the Philanthropic Money Pot

If the recipient is not the creator of the Philanthropic Money Pot and does not have a Babyloan account, an account is automatically created for him thanks to the information given by the creator. To collect the money of the Philanthropic Money Pot at the end of the operation, the recipient must accept the Terms and Conditions of Use (TCU) of the website www.babyloan.org.

Until the TCU are accepted, the account containing the money of the Philanthropic Money Pot will not be reachable.

The recipient - whether it is the creator or another member - has to update the information regarding his Babyloan account when the Philanthropic Money Pot reaches an end (or as soon as he receives his password if the recipient did not have a Babyloan account when the Philanthropic Money Pot was created).

The recipient agrees that he will be able to collect the money collected only as soon as it has been lent to one or several microentrepreneur(s) on www.babyloan.org.

Each loan made with the money of a Philanthropic Money Pot will be subject to the same rules as every other loan (from €10 and subject to a contribution according to the current price rate).

The recipient agrees to feature among the members of the group created upon the Philanthropic Money Pot.

 

Tel : 0033.1.71.16.21.35
Adress : ABC Microfinance, 14 impasse carnot 92240 Malakoff FRANCE
On our Website : http//www.Babyloan.org
E-mail contact : contact@Babyloan.org