Standard Loan Contract

Please note: We have recently concluded redemption of our platform investors in full as part of the Resolution Event (please refer to our Investor Terms for more information) declared in June 2020. As of 13th January 2021, all remaining funds have been returned to peer-to-peer investors and our investor platform is in the process of closing. Growth Street continues to streamline business operations, whilst continuing to recover the remaining loans outstanding from borrowers, with the ultimate aim of winding down operations. We will not be conducting any further lending activities, or accepting any new investors or deposits from existing investors. If you were an investor and have any questions, please contact us on Live Chat or by calling 0808 123 1231 (Option 3). If you are an existing Growth Street borrower and have any questions, please contact your Relationship Manager.

Your capital is at risk when you invest through Growth Street. Our investment products are not covered by the Financial Services Compensation Scheme. Read about our Loan Loss Provision here.

Last Update: 15th December 2017

This is a loan agreement made between:

(1) {Lender Identifier} (the ‘Lender’); and
(2) {Borrower Identifier} (the ‘Borrower’),
the ‘Loan Agreement’.

  1. Key Terms
    Loan Number:{Contract number}Loan Amount:£{ }
    Loan Date:{Loan_Advance_Date}Lender Rate:{ }% per annum
    Repayment Date:{Loan_Advance_Date_+30}
  2. Interpretation
    1. GrowthLine Agreement’ means the facility agreement entered into by the Borrower, Growth Street Limited and Growth Street Exchange Limited pursuant to which this loan was made.
    2. Unless otherwise defined above, all terms defined within the GrowthLine Agreement shall have the same meaning when used in this Loan Agreement.
  3. The Loan
    1. The Lender agrees to advance the Borrower the Loan Amount on the Loan Date.
    2. nterest will accrue daily on all money outstanding from and including the Loan Date and will become due and payable on the earliest of:
      1. the Borrower’s Monthly Payment Date;
      2. the Repayment Date; or
      3. the date the loan is repaid.
    3. Subject to clause 3.4 below, the Borrower will repay the loan in full on or before its Repayment Date.
    4. In the case of a Liquidity Event, the Borrower must repay the loan in full within 30 days from its Repayment Date or as otherwise agreed between the Borrower and Growth Street in accordance with the terms of the GrowthLine Agreement.
  4. Incorporation of GrowthLine terms
    1. clause 1.8: Loan purpose;
    2. clause 2.6: Payment terms;
    3. clause 3.6: Security;
    4. clause 4: Covenants;
    5. clause 5: Representations and warranties;
    6. clause 6: Events of Default;
    7. clause 8.5: Waivers and consents;
    8. clause 8.6: Severance; and
    9. clause 8.10: Governing law.
  5. Default
    1. If an Event of Default occurs and Growth Street exercises its right to declare any amount owing pursuant to the GrowthLine Agreement immediately due and payable or payable on demand, all amounts outstanding pursuant to this Loan Agreement shall also become immediately due and payable or payable on demand.
  6. Costs and fees
    1. The Borrower agrees to pay, and fully indemnify the Lender against, all losses, costs and expenses incurred as a result of it breaching any term of this Loan Agreement, the Security Documents or the GrowthLine Agreement.
  7. Agency
    1. The Lender and the Borrower each agree that Growth Street is and will act as their agent in all matters relating to this Loan Agreement. This Loan Agreement may be entered into by Growth Street as agent for the Lender and the Borrower notwithstanding the lack of signature by Growth Street or any other party. The records kept by Growth Street in relation to this Loan Agreement shall be conclusive evidence of the facts and matters they purport to record except where there is an obvious mistake.
  8. Assignment
    1. The Lender may assign any of its rights under this Loan Agreement or the Security Documents in full or in part, at any time. The Borrower may not assign or transfer any of its rights or obligations under any this Loan Agreement or the Security Documents without the Lender’s prior written permission.
The Loan Loss Provision we offer does not give you a right to a payment so you may not receive a pay-out even if you suffer loss. The fund has absolute discretion as to the amount that may be paid, including making no payment at all. Therefore, investors should not rely on possible pay-outs from the Loan Loss Provision when considering whether or how much to invest. You can read our Loan Loss Provision Policy here.