Terms & Conditions

1. Acceptance of terms

Loan Ready is provided by 5 Cs Business Solutions Inc., a New Brunswick, Canada company ("we"). By checking the box below and continuing, you agree to these Terms & Conditions. You confirm you are at least 18 years old. If you do not agree, please do not use Loan Ready. Loan Ready is not yet available to residents of Quebec; when you create an account you will be asked where you live.

2. Educational use only

Loan Ready is provided for educational and informational purposes only. It is a self-assessment tool that compares your numbers with common lending benchmarks. It is not financial, legal, or lending advice, is not a loan decision or a prediction of one, and does not replace a conversation with a qualified lender, accountant, or advisor.

3. No liability for information entered or produced

You are responsible for the accuracy of what you enter and for verifying any figures before relying on them. To the extent permitted by law, we are not liable for the information you enter or for the results, scores, or guidance Loan Ready produces, and our total liability to you for any claim is limited to the amount you paid us in the 12 months before the claim. Nothing in these terms limits liability that cannot be limited by law.

4. No guarantee of loan approval

Using Loan Ready is not a guarantee that you will be approved for a loan. Banks and other lenders each have their own risk appetite and underwriting standards, and they are solely and independently responsible for their own lending decisions. Loan Ready has no influence over, and makes no representation about, how any lender will evaluate your application.

5. Your information & privacy

If you create an account, we store your email address, display name, the province or territory you live in, and payment records so you can log in and access what you've paid for. The financial figures you enter into the calculator — revenue, debts, net worth, and similar — are sent to our servers only to calculate your score and are not stored; they are discarded once your result is returned. If you choose to upload a financial statement (see section 14), it is read by an AI service with your consent, the file is deleted from our storage once it has been read, and the figures read from it are deleted when you confirm or withdraw them, or within 24 hours at the latest. They are used only to fill in your calculator. If you reached Loan Ready through a partner, you can choose to have your detailed results kept, as described in the Partner-Client Terms you will be asked to accept. We do not sell your information. We do not share it with lenders or other third parties except (a) the processors that run this service on our behalf (such as our hosting and payment providers, and the AI service that reads statements you choose to upload), and (b) if you reached Loan Ready through a partner, that partner, as the Partner-Client Terms explain. Your name and individual results are never shared with a lender unless you give explicit permission. Some partners are lenders, such as credit unions; if yours is, you will be told before you choose whether to share with it. Read our Privacy Policy for full details, including where data is stored, how long it's kept, and how to contact our privacy officer.

6. No warranties

Loan Ready is provided "as is" and "as available," without warranties of any kind, whether express or implied, including as to accuracy, reliability, or fitness for a particular purpose.

7. Intellectual property

Loan Ready, including its name, design, content, methodology, scoring approach, benchmarks, and underlying software, is owned by us and protected by copyright and other applicable laws. Nothing in these terms transfers any ownership or licence to you beyond permission to use the tool for your own purposes.

8. Restrictions on use

You agree not to:

• copy, reproduce, modify, or create derivative works from Loan Ready or any part of it;
• reverse engineer, decompile, or otherwise attempt to derive the methodology, scoring logic, weightings, or source code behind the tool;
• scrape, data-mine, or use automated means to access the tool or extract its outputs;
• resell, sublicense, white-label, or otherwise make the tool available to third parties as your own, except under a separate written agreement with us (such as the Partner Seat Agreement);
• use the tool to build or assist in building a competing product or service.

9. Third-party links

Loan Ready may point you to third-party websites, such as consumer credit bureaus (for example TransUnion or Equifax), where you can check your own credit report or score. These are provided for your convenience only. We do not own, operate, control, or endorse these third-party sites, and we are not responsible for their content, accuracy, availability, privacy practices, or any fees, terms, or outcomes associated with using them. Any information you provide to a third-party site, and any interaction you have with it, is solely between you and that third party and is governed by its own terms and privacy policy, not ours. We accept no liability whatsoever arising from your use of, or reliance on, any third-party link or site referenced within Loan Ready.

10. Changes to these terms

These terms may be updated from time to time. When they change materially, you'll be asked to review and re-accept them before continuing to use Loan Ready.

11. Your account and suspension

You are responsible for keeping your password private and for activity under your account. We may suspend or close an account that breaks these terms or puts the service or other users at risk. You may stop using Loan Ready or ask us to delete your account at any time. Accounts with no calculations left and no activity for 24 months are deleted after we email you a warning.

12. Payments and refunds

Loan Ready is sold one calculation at a time, with no subscription and nothing that renews automatically. A calculation where you enter all the figures yourself, including business net worth, costs $4.99 CAD. A calculation where you upload your financial statements for our AI to read (section 14) costs $10.99 CAD. One upload can include up to three files (for example a separate income statement, balance sheet and debt schedule), and the confirmed figures are used for one calculation within 24 hours. Payment is by card through our payment provider, Stripe. Applicable taxes, if any, are shown at checkout.

Unused calculations can be refunded within 14 days of purchase, less the payment processing fee charged on that purchase. Calculations you have already run are not refundable. After 14 days, purchases are final. If you were charged but your calculations were not added to your account, or a calculation failed because of a problem on our side, we will re-credit the calculation or refund you. Refunds are not prorated for calculations already run. If you have an exceptional reason, you may email us and we will consider it, but any refund in that case is at our sole discretion.

Refund requests are reviewed and completed by email. To ask for a refund, email refund@beloanready.com from the email address on your account and include the date of purchase. We aim to reply within 3 business days. Approved refunds go back to the original card within 10 to 15 business days, and your bank may take several more days to show them. Nothing here limits any refund right you have under applicable law.

13. Governing law and general

These terms are governed by the laws of the Province of New Brunswick and the federal laws of Canada that apply there. If any part of these terms cannot be enforced, the rest still applies. Questions about your account can be sent to support@beloanready.com, and questions about these terms or your information to privacy@beloanready.com.

14. Reading your financial statements with AI (optional, with your consent)

You can choose to upload your business financial statements so Loan Ready can read the figures for you. This is optional. You can always type your figures in yourself instead.

What you can upload. Only a business income statement, balance sheet or debt schedule (or a set of financial statements containing them, with notes), as a PDF, PNG or JPG. One upload can include up to 3 files, with up to 20 pages per file, 30 pages in total, and 20 MB per file. A file over the page limit is refused and deleted before it is read.

Your consent. Before each upload you will see a separate consent box. If you do not tick it, nothing is uploaded. Your consent covers only the file or files you choose in that upload. To upload anything else, you will be asked again. Everything below applies to each file.

What happens to your document. When you consent:

• your file is stored privately while it is read;
• it is sent to an AI service (Floot, our application provider, which sends it directly to OpenAI's AI model), which reads it to extract the figures. This service may process your document outside Canada: Floot's systems are in the United States, and OpenAI's processing is not limited to any one country. The AI provider does not use your document to train AI models. It may keep a copy for up to 30 days only to detect abuse or misuse (longer only if the law requires it), then deletes it;
• we delete the file from our storage as soon as it has been read;
• the figures read from it are held on your account only until you confirm or withdraw them. If you do neither, the file and figures are deleted automatically within 24 hours of upload, and if figures are still held we email you about four hours before that.

Documents we do not accept. Tax returns, bank or credit card statements, and personal statements of affairs are not accepted. They contain personal details we don't need, such as a Social Insurance Number, account numbers, or other people's information. If one is uploaded anyway, the AI service reads it only to recognise it, then we delete it from our storage and tell you; the AI provider may keep a copy for up to 30 days only to detect abuse (longer only if the law requires it), and never uses it for training.

Please cover personal details. Only business figures are needed. If your document shows a Social Insurance Number, account numbers or other personal identifiers, cover them before uploading. You must have the right to share the document, and it must relate to your business.

Documents you must not upload. Upload only the documents listed above. If you upload anything else, or a document containing other people's personal information that you are not entitled to share, you are responsible for that, and you agree to cover our reasonable costs of any claim caused by it. We will refuse and delete such documents where our system recognises them.

Checking the figures. The figures are an automated reading of your document, not an audit, review or verification by us or by an accountant. Figures the document does not show are left blank for you to fill in; we do not estimate them. Where a statement counts interest or depreciation inside expenses, we adjust for it the way lenders usually do and tell you on the review screen. You are responsible for checking every figure before you use it.

Withdrawing your consent. You can withdraw at any time. Choose Withdraw and delete on the review screen, or on the statement section of the calculator if a statement from an earlier visit is still held, to delete the figures and any remaining file immediately. You can also email privacy@beloanready.com. Withdrawing does not affect your use of Loan Ready without uploads.

After you confirm. Your confirmed figures are used for your calculation and, like any figures you type in, are not stored after your result is returned (unless you reached Loan Ready through a partner and chose to keep your detailed results, as explained in section 5).

Consent record. We keep a record that you consented (the date and time, the version of this wording you agreed to, and the file's type and size) for one year, then delete it. It does not contain your document, its file name or its figures.