How do I qualify for a business loan?

Eligibility is based on your contribution consistency. Monitor your 'Loan Eligibility Progress' bar on your dashboard; once you hit your savings milestone, you can request funding.

What are the repayment terms?

Repayments are structured weekly to ensure business cash flow remains stable. You can settle payments directly via the 'Repay Loan' button on your dashboard.

Is there a penalty for late payments?

Yes. To protect the collective fund of all members, a daily penalty of 0.15% is applied to overdue balances until they are settled.

How secure are my contributions?

As a registered Multi-Purpose Cooperative Society, all funds are managed under strict regulatory guidelines and visible through your real-time transaction history.

Global Business Friends | Terms and Conditions

Last Updated: February 2026

Welcome to Global Business Friends Multi-Purpose Cooperative Society (GBF). By registering an account and using our platform, you agree to be bound by the following terms.

1. Membership & Eligibility

Registration: Membership is open to individuals and entrepreneurs aged 18 and above. You must provide accurate, current, and complete information during the registration process.
Account Security: You are responsible for maintaining the confidentiality of your dashboard credentials. GBF is not liable for losses resulting from unauthorized access to your account due to user negligence.

2. Savings and Contributions

Consistency: GBF operates on a model of financial discipline. Members are encouraged to maintain regular contributions.
Non-Refundable Administrative Fees: Any entry fees or administrative charges paid during registration are non-refundable as they cover the cost of digital infrastructure and onboarding.

3. Loan Eligibility & Disbursement

The Progress Bar: Loan eligibility is not guaranteed upon registration. Access to credit is determined by the Loan Eligibility Progress bar on your dashboard.
Milestones: Members must hit specific savings milestones (Required Amount) before a loan request can be initiated.
Discretion: GBF reserves the right to approve or decline loan applications based on a member's internal credit score, contribution history, and community standing.

4. Repayment Terms & Penalties

Weekly Structure: To ensure manageable debt levels, all loans are subject to Weekly Repayments as scheduled on the member dashboard.
Daily Penalties: Failure to meet a repayment deadline will result in an automatic 0.15% daily penalty on the overdue amount. This penalty is non-negotiable and accumulates until the balance is cleared.
Default: Continued failure to repay may result in the forfeiture of saved collateral, suspension of account, and reporting to relevant credit bureaus.

5. Dividends and Benefits

Surplus Sharing: As a multi-purpose cooperative, GBF may distribute annual dividends based on the society's performance and the member's level of contribution.
Asset Financing: Members in good standing may qualify for asset financing programs at the discretion of the management.

6. Prohibited Activities

Members shall not use the platform for:

Money laundering or any illicit financial activities.
Providing fraudulent business documents for loan applications.
Attempting to circumvent the dashboard’s security or eligibility logic.

7. Termination of Membership

Voluntary Exit: Members may request to close their accounts. If a member has an outstanding loan, the account cannot be closed until the debt, including all accrued interests and penalties, is fully settled.
Involuntary Termination: GBF reserves the right to terminate membership for any breach of these terms or conduct detrimental to the cooperative’s interest.

8. Modifications to Terms

GBF reserves the right to update these Terms and Conditions at any time. Changes will be communicated via the dashboard or registered email. Continued use of the platform after such changes constitutes acceptance of the new terms.

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