For questions about Participate or technical assistance, please contact us at 501-313-3414 or firstname.lastname@example.org
Marketplace for Commercial Loan Participation
connections are your
Transact with only your
club, connections or the
entire market place
User Information: Users provide information about themselves, such as name, e-mail address, financial institution affiliation and title when setting up a profile on the Site. Such information and other information Users add to their profiles is available for public viewing on the Site, including viewing by unregistered Users of the site. BankLabs may use Users’ email addresses to send Site-related notices (including any notices required by law, in lieu of communication by mail). BankLabs may also use contact information to send marketing messages. If a User does not wish to receive such messages, Users may opt out by following the instructions in the message. If a User corresponds with BankLabs by email, BankLabs may retain the content of such email messages, email addresses and related responses.
Users also provide information in User Content that are Posted to the Site. User Content and metadata about it (such as posting time), are publicly viewable on the Site, along with identifying information such as name, title and financial institution affiliation. This information may be searched by search engines and be republished elsewhere on the Web, which BankLabs cannot control.
If a User chooses to use the invitation service to invite another User to the Site, BankLabs will ask you for that person's email address and automatically send an email invitation. BankLabs stores the information to send this email, to register that User if his or her invitation is accepted, and to track the success of the invitation service.
Borrower Information: As part of the loan participation process, Users provide certain personally identifiable information about borrowers and guarantors, both in the form of loan documents and other User-provided information. BankLabs only provides this information to other Users who are authorized by their financial institutions to receive this information and request it as part of the due diligence process prior to participating in a loan. Any use that such other Users make of such information is governed by their privacy policies. BankLabs makes commercially reasonable efforts to keep this information confidential, both through technical measures and the requirements imposed on other Users in the Terms and Conditions. However, BankLabs cannot and does not guarantee that other Users will comply with the Terms and Conditions at all times.
BankLabs may use anonymized versions of this data for various purposes, including without limitation to determine general statistics on borrower demographics and purchaser interest, and to monitor commonly appearing terms in loan documents.
INFORMATION COLLECTED ABOUT USERS BY THE SITE:
In addition to information that you provide to BankLabs, BankLabs also automatically collects additional information about usage of the Site, including:
1. Cookies: When a User visits the Site, Participate may send one or more "cookies" - small data files - to the User’s computer to uniquely identify the browser, let Participate help the User log-in faster and enhance the User’s navigation through the Site. A cookie may convey to BankLabs anonymous information about how a User browses the Site, but does not collect personal information about a User. A persistent cookie remains on a User’s computer after closing his or her browser so that it can be used by the browser on subsequent visits to the Site. Persistent cookies may be removed by following the User’s web browser's directions. A session cookie is temporary and disappears after a User closes his or her browser. Users may reset their web browser to refuse all cookies or to indicate when a cookie is being sent. However, some features of the Site may not function properly if the ability to accept cookies is disabled.
2. Log Files: Log file information is automatically reported by a User’s browser each time he or she accesses a web page. When using the Site, BankLabs servers automatically record certain information sent by a User’s web browser whenever you visit any website. These server logs may include information such as the web request, Internet Protocol ("IP") address, browser type, referring / exit pages and URLs, number of clicks, domain names, landing pages, pages viewed, and other similar information.
3. Third Party Services: BankLabs may use third-party analytics services to help understand use of the Site. These services collect the information sent by a User’s browser as part of a web page request, including cookies and IP addresses. Use of this information is governed by the Privacy Policies of those third parties.
INFORMATION SHARING AND USAGE BankLabs uses information to analyze how the Site is used, diagnose service or technical problems, maintain security, personalize content, remember information to help Users efficiently access their accounts, monitor aggregate metrics such as total number of visitors, traffic, and demographic patterns, and track User Content and Users as necessary to comply with the Digital Millennium Copyright Act and other applicable laws.
User Personally Identifiable Information: BankLabs may share personally identifiable User information with third parties as part of providing the Site to Users. If so, such third parties' use of User information will be governed by their own privacy policies. BankLabs may store personal information in locations outside the direct control of BankLabs (for instance, on servers or databases owned and managed by third parties).
As BankLabs develops its business, BankLabs may buy or sell assets or business offerings. User, email, and visitor information may be one of the transferred business assets in these types of transactions. BankLabs also may transfer or assign such information in the course of corporate divestitures, mergers, or dissolution.
BankLabs may share or disclose User information with consent, such as if a User chooses to sign on to the Service through a third-party service. BankLabs cannot control third parties' use of User information and takes no responsibility for such use. Personally identifiable information about individual User that Users provide on a User profile is publicly available, and may be seen by persons not registered for the Site. The User profile is available in a publicly available format that allows it to be viewed and stored by search engines.
BankLabs may disclose User personal information if required to do so by law or subpoena or if BankLabs believes that it is reasonably necessary to comply with a law, regulation or legal request; to protect the safety of any person; to address fraud, security or technical issues; or to protect the rights or property of BankLabs.
Personally Identifiable Information Provided by Users about Borrowers: BankLabs will never share personally identifiable information about borrowers or guarantors with third-parties (other than Authorized Users of the Site as described above), unless required to do so by law or subpoena or if BankLabs believe that it is reasonably necessary to comply with a law, regulation or legal request; to protect the safety of any person; to address fraud, security or technical issues; or to protect the rights or property of BankLabs.
Non-Personally Identifiable Information: BankLabs may share non-personally identifiable information (such as anonymous usage data, referring/exit pages and URLs, platform types, number of clicks, etc.) with interested third parties to help them understand the usage patterns for certain Participate services. BankLabs also may generate publicly available statistical data for the lending industry based on non-personally identifiable information or anonymized personally identifiable information gathered on the Site.
HOW BANKLABS PROTECTS USER INFORMATION
BankLabs uses commercially reasonable physical, organizational, and technical safeguards to preserve the integrity and security of your personal information. BankLabs does not, however, ensure or warrant the security of any information transmitted to Participate or guarantee that your information on the Site may not be accessed, disclosed, altered, or destroyed by breach of any of BankLabs’ physical, organizational, or technical safeguards.
CHOICES ABOUT USER INFORMATION
A Bank may decline to submit personally identifiable information through the Site by choosing not to create an account. Without an account, many features of the Site will be unavailable. You may update or correct your account information and email preferences at any time by logging in to your account.
To the extent that Participate is able to determine the age of Users by their submissions to, or communications with, the Site, BankLabs will not knowingly (a) collect or post information from individuals under 18 years of age (“Children” or “Child”) without their parent’s or guardian’s consent, or (b) provide any personally identifying information collected from Children, regardless of its source, to any third party for any purpose whatsoever.
LINKS TO OTHER WEB SITES
ParticipateSM is owned by BankLabs. It
connects financial institutions, credit officers and other Users. Its
primary goals are to digitize loan participation documents; to make
the loan participation process more efficient, and to allow financial
institutions to connect with a wider audience in the participation
BankLabs. Radius Group, LLC dba BankLabs, an Arkansas limited liability company with its principal office located at 6001 Valley Ranch Dr., Little Rock, AR 72223.
Opportunity. An Opportunity is a loan participation published on the Site.
User. A User is any person that visits the Site or views any information on the Site.
Authorized User. An Authorized User is any User who has been authorized by a Participating Financial Institution to publish or purchase Opportunities using the Service, to request and review confidential loan documents and to enter into binding agreements on the Financial Institution’s behalf.
Offering Financial Institution. An Offering Financial Institution is any financial institution with an Authorized User who publishes an Opportunity using the Service.
Provider. A Provider is a third-party that provides information or data to or related to the Site, for example, links to third-party web sites, market data and other information related to financial institutions.
2. USE OF THE SERVICE
Limited License in Proprietary Content
By posting User Content to any part of the Site, User, on behalf of User and User’s affiliated financial institution, automatically grants to BankLabs, and User represents and warrants that User has the right to grant, to BankLabs an irrevocable, perpetual, non-exclusive, transferable, fully-paid, worldwide license (with the right to sublicense) to use, copy, publicly perform, publicly display, reformat, translate, excerpt (in whole or in part) and distribute such User Content for any purpose on or in connection with the Site or the promotion thereof, to prepare derivative works of, or incorporate into other works, such User Content, and to grant and authorize sublicenses of the foregoing. As part of this license, BankLabs may make User profiles and information on financial institutions and participation opportunities publicly searchable and viewable by persons not registered on the Site. User may remove its User Content from public view on the Site at any time. However, if any such User Content is removed, the license granted shall continue without expiration, and BankLabs may retain a copy of any removed or deleted User Content.
After completing a loan participation on the Site, User may have the ability to review or provide feedback on the other Users involved in the transaction. By providing any user feedback, User warrants that the feedback accurately reflects the User’s opinion at the time of posting. If any such User feedback is considered to be defamatory or harmful in any way, User and User’s affiliated financial institution agree to indemnify BankLabs and its officers, directors, employees and agents, and to hold them harmless from any and all loss, claim, damage or expense, including reasonable attorneys’ fees and expenses, arising out of or related to any such claim of harm or defamation. BankLabs does not verify user feedback, and user feedback does not reflect the views or opinions of BankLabs in any way.
User will have the ability to post personally identifiable information regarding the identity of borrowers and guarantors (“Borrower Information”) as part of the loan participation process. By posting Borrower Information, User represents that User has received consent from the borrowers and guarantors to share such Borrower information as part of the loan participation process. User agrees that it will not share Borrower Information on any publicly accessible areas of the site unless User has been authorized by the borrower or guarantor to do so.
User will have access through BankLabs’ proprietary Site to personally identifiable information and other confidential information about borrowers and guarantors underlying the loans subject to participation and to information confidential to other Users (collectively, “Confidential Information”). User agrees to use Confidential Information solely for purposes of finding, publishing or purchasing loan participations and will not reveal Confidential Information to any person not participating in the loan, whether provided in a general summary format on the site or in any resulting loan document packages. User agrees to immediately destroy any Confidential Information in User’s possession if User chooses not to purchase an Opportunity or such information is no longer needed to analyze an Opportunity. Whether or not a User purchases an Opportunity, User agrees that it may not use Confidential Information to solicit business from a borrower or guarantor.
Non-Solicitation of Borrowers and Participation Opportunities
By publishing an Opportunity to the Site, User agrees to make all reasonable efforts to complete the Opportunity using the Site and agrees to not attempt to contact any financial institution or other User to complete the Opportunity outside of the Site. By viewing Opportunities, each User agrees to not attempt to contact any financial institution or other User to complete the purchase of an Opportunity outside of the Site and further agrees to transfer funds to the Offering Financial Institution through the Company’s designated custodian. BankLabs reserves the right to designate and use any custodian to transmit funding and may change its designated custodian at any time. Each User agrees to report promptly to BankLabs any information indicating that any portion of an Opportunity has been completed outside of the Site. Any User violating these terms agrees to pay BankLabs, as liquidated damages and not as a penalty, a transaction fee of .50% of the participated loan amount, and may be prohibited from using the Site thereafter.
User Information Accuracy
User and its affiliated financial institution warrant that any and all information User posts to the Site is true and accurate to the best of User’s knowledge, including without limitation User’s name, email address and other profile information, and User’s affiliation with a financial institution. Either BankLabs or a financial institution may withdraw a User’s right to continue using the Site at any time and. BankLabs may remove a User’s profile at any time at its sole discretion. BankLabs is not responsible for confirming or verifying any information posted to the Site, but reserves the right to monitor and record activity on the Site.
Authority of User to Act on Behalf of a Financial Institution User represents and warrants, on behalf of User and User’s affiliated financial institution, that such financial institution has duly authorized User to take all actions permitted by User’s designated role on the Site, as defined above, and agrees that if such authorization is withdrawn, User will ensure that User’s role on the Site is immediately changed or removed accordingly.
Verification of Borrower Credit Worthiness BankLabs does not perform any review or credit analysis on loans listed for participation on the Service. By using the Service, each User agrees to perform its own due diligence on each loan Opportunity and borrowers or guarantors, including but not limited to any diligence required or desired by law or by any governmental entity having regulatory authority over User or User’s affiliated financial institution.
SNC Reporting Compliance
Each Offering Financial Institution that would is subject to the Federal Reserve’s Shared National Credit reporting program agrees to file, and takes full responsibility for filing, any required documentation in a complete and timely manner.
BankLabs may charge both subscription fees and transaction fees for the use of the Service. Transaction fees are generally stated as a percentage the loan amount offered for participation. Such fees may change from time to time and may differ from loan to loan. By publishing an Opportunity, each Offering Financial Institution agrees to pay the fee charged for that transaction and authorizes BankLabs or its affiliates to subtract such fees directly from amounts paid to the Originating Bank by participating financial institutions.Each User with an account has a user name, password, authentication and other security codes (“User Codes”) that give User access to User's profile and account information. These are private keys allowing a User to access specific account information in the Site. Each User agrees to keep User Codes strictly confidential and to take all steps necessary to protect the Site and information on the Site from unauthorized use and disclosure. BankLabs recommends that each User change his or her password upon first use and regularly thereafter. For security purposes, BankLabs recommends that User memorize his or her password and not write it down. Each User must assure that he or she signs off when leaving User’s computer. Each User agrees to notify BankLabs immediately if he or she becomes aware of any loss, theft or unauthorized use of User's User Codes at 501-313-3414.
BankLabs has no duty to inquire as to the authority or propriety of any instructions or information provided by any User and may act and rely upon any such instructions or information without any duty or liability to any person.
Participate employs sophisticated encryption technology and advanced security protocols on its Site to protect Site information. To access the Site, User’s browser must allow 128-bit encryption (also called domestic-grade, U.S.-grade, high, or strong encryption) and Secure Socket Layer (SSL) protocol. This helps to protect the safety and confidentiality of User’s information when User receives or transmits information online. If User sends an e-mail to BankLabs from within the Site, it is secured with the same technology used in User's e-mail system, not the site’s 128-bit encryption.
5. OTHER TERMS
User consents to the use of electronic signatures on the Site in lieu of paper-based signatures. User acknowledges and agrees that legislation such as the Electronic Signatures in Global and National Commerce Act (the “E-Sign Act”) and the Uniform Electronic Transactions Act (“UETA”) have provided that electronic signatures are the legal equivalence of handwritten signatures on paper and are legally binding in the United States and in other countries.
Accuracy of Information Posted by Users
BankLabs reserves the right to verify User information, including without limitation User’s affiliation with a financial institution, but has no obligation to do so. BankLabs does not recommend or endorse any financial institution or User as an appropriate partner to participate in any investment. It is the responsibility of individual financial institutions to verify that Users are properly affiliated with, and authorized by, their stated financial institutions. BankLabs does not recommend or endorse any Opportunity listed on the site from time to time or opine as to the appropriateness of any Opportunity for any User or its affiliated financial institution. Each User is obligated to complete any underwriting analysis and due diligence necessary to decide whether to participate in any Opportunity.
In accordance with the Digital Millennium Copyright Act (the “DMCA”), BankLabs has adopted a notice and takedown policy to remove infringing material. If you believe that your protected work has been infringed, notify the Company’s copyright agent. Your notification must include the following information required under the DMCA:
1. A physical or electronic signature of a person authorized to act on behalf of the owner of the infringed copyright;
2. Identification of the copyrighted work or works claimed to have been infringed;
3. Identification of the material that is claimed to be infringing or to be the subject of infringing activity and that is to be removed, and information reasonably sufficient to permit us to locate the material;
4. Your contact information (i.e., address, telephone number, and email address);
5. A statement that you have a good faith belief that use of the material is not authorized by the copyright owner; and
6. A statement that information in the complaint is accurate and that the complaining party is authorized to act on behalf of the copyright owner.
If you fail to comply with these notice requirements, your notification may not be valid. Additionally, any person that knowing materially misrepresents that material is infringing may be subject to liability under the copyright act.
In accordance with the DMCA, BankLabs may terminate the account of any User who is a repeat infringer, and may terminate User accounts based on even a single infringement.
Information ”As Is“
BankLabs does not warrant the accuracy of any information provided on the Site, whether provided by BankLabs or by a third party. Such information may include technical inaccuracies or typographical errors. BankLabs may change any of the information on the Site or discontinue the Site at any time without notice. The information on the Site may be out of date, and BankLabs makes no commitment to update the information or the Site.
To the extent that the Site uses Internet, wireless or related electronic or telephonic services to transport data or communications, BankLabs takes reasonable security precautions to create a secure and reliable Site, but disclaims any liability or responsibility for third-party interception of any such data or communications or for the access, speed, availability or interruptions of such communications or transmissions. BankLabs does not warrant that the Site or Service will be uninterrupted or free from errors, viruses or other harmful elements. User is solely responsible for the cost, security and maintenance of User's computer systems, software and data, including but not limited to taking protective measures (such as encryption, virus and firewall protection) to prevent unauthorized access to User's computer systems, software and data and repairing damage caused by such unauthorized access. User understands that any information provided on or through the Site is for general information use only and is not advice to User. User is solely responsible for confirming the timeliness, accuracy, adequacy, completeness, and quality of all information provided on or through the Site before acting on it.
The Site may provide access to information and data from third-party providers (“Provider Information”), for example, links to third-party web sites, market data and other information related to financial institutions. BankLabs has obtained the Provider information through sources believed reliable, but is not responsible for such information. BankLabs makes no representation or warranty with respect to, nor does it, guarantee, warranty (either express or implied) or endorse the accuracy, completeness, timeliness, reliability, legality, compliance, availability or correct sequencing of, the Provider information or any web site operated by a third party. BankLabs does not support, endorse, oppose, or edit any opinion, analysis or information provided by any third party.
With respect to any areas on this Site where Users transmit or Post communications, whether to Participate, to each other or to third parties, including but not limited to chat rooms, bulletin boards or user forums, BankLabs may, but is not obligated to, monitor or review the activity in such areas and/or the content of such communications and remove any such information in its sole discretion. User agrees to not post any illegal information, including without limitation information that violates applicable copyright, libel, privacy, or obscenity laws, or any other law that may be applicable.
No Offer of Securities
Nothing on this Site represents an offer to sell or solicitation of an offer to buy any securities.
No Legal Advice
BankLabs does not provide legal advice with respect to the use of the Site or any Opportunity. Each User is encouraged to complete its own due diligence and legal review of all documents and information made available through the Services. BankLabs does not warrant the completeness or accuracy of any such documents of information provided through the Site may not be sufficient to conduct full and complete due diligence on a potential loan participation Opportunity. Offering Financial Institution, and User agree to conduct all necessary or desirable due diligence before entering into a transaction. Nothing on this Site represents an offer or solicitation of Services or products in any jurisdiction where the offer or sale would not comply with such jurisdiction’s laws, which User has sole responsibility to understand and implement. BankLabs does not guarantee the legal, accounting, tax, or regulatory treatment of any Opportunity offered on the Site. It is the User’s responsibility to comply with all regulatory requirements inherent in the participation process, and to ensure that any Opportunity that the User offers or purchases on the Site meets the User’s unique regulatory requirements. BankLabs is not responsible for any losses incurred as a result of the legal, accounting, tax, or regulatory treatment of any Opportunity offered on the Site.
Limitation of Liability
To the fullest extent permitted by applicable law, BankLabs and its affiliates and their directors, officers, employees, agents, representatives, predecessors, successors, assigns, suppliers or third parties are not and will not be liable for any direct, incidental, indirect, known or unknown, foreseeable or not, consequential, economic, punitive, special or other damages whatsoever (including, without limitation, those resulting from lost profits, lost data, delay, loss of Service use or business interruption) arising out of the use of, inability to use, or the results of use of this Site, and of the Services, and any Web sites linked to this Site, any User posting to the Site, or the materials or information contained at any or all such sites or in connection with the use or performance of software or of failure to provide services, whether based on warranty, contract, tort, negligence or any other legal theory and whether or not BankLabs knew or should have known or was advised of the possibility of such damages.
Neither BankLabs nor its service Providers or other agents are or will be liable for any loss or liability resulting in whole or in part from any act or failure to act of User’s equipment or software, by any Internet browser Provider, by any Internet access Provider, by any online service Provider or by an agent, employee, officer, director or subcontractor of any of the above.
User agrees on behalf of User and User’s financial institution to indemnify and hold BankLabs, its affiliates and their vendors, directors, officers, employees and agents (“Indemnified Persons”) harmless from all claims, losses, damages, liabilities, costs, charges, demands, judgments, expenses and attorney fees (“Claims”) arising out of or in any way connected with use of this Site by User, User’s representative and any person to whom User has provided any of User’s security information (including without limitation User name or password), including without limitation any Claims arising from or out of User's failure to comply with this Agreement or the use or misuse of the Site by User or User's agents. However, User and User’s financial institution’s obligation to indemnify BankLabs shall not extend to claims of copyright infringement based on information for which BankLabs is solely responsible for publishing on the Site.
Third-Party Rights; Specific Performance
An Offering Financial Institution shall have the right to specific performance and any other remedies available at law or in equity against a User with respect to any Opportunity that the Offering Financial Institution published that was purchased in whole or in part by such User. The Site shall create no other third-party rights, obligation or remedies.
Governing Law and Jurisdiction
Entire Agreement; Waivers
The information received through this Service or in any e-mail alerts does not constitute consulting, banking, investment, legal, accounting or other professional advice and should not be relied upon for personal or financial decisions. User is responsible for User’s own decisions on the suitability of Opportunities available on the Site.