Lending Guarantee

This is a promise by LIFT INVESTMENT MANAGEMENT SGEIC SA (“Investfora”, “we”) to cover money you lend to businesses through the platform if the borrower does not repay. It is our own guarantee, given by us and paid by us.

It is not a deposit-guarantee scheme and not a government scheme. The statutory deposit guarantee that covers bank deposits pays out even if the bank and we are gone. This guarantee depends on Investfora being able to pay it. Section 6 sets out what stands behind it and section 7 what happens if that is not enough.

Every client of Investfora who lends to a business through the platform, automatically, at no cost, from the moment the loan is funded. You do not apply for it and there is nothing to opt into.

If a borrower defaults as defined in section 4, we pay you:

• the capital you lent to that loan and have not been repaid, and
• the interest accrued on it at the loan’s contractual rate up to the date of default.

The limit is €100,000 per client, per calendar year, across all your lending on the platform. A claim counts against the year its default date falls in, and claims are set against your cover in default-date order. Once covered payments to you reach €100,000 in a calendar year, further claims arising in that year are not covered. Your cover starts fresh on 1 January; unused cover does not carry over.

Interest you would have earned after the default date is not covered by this guarantee. It may be covered by the late-payment terms, which are separate.

A loan is treated as defaulted, and a claim arises, on the earliest of:

• 90 days after a scheduled payment was due and remains unpaid;
• the borrower entering insolvency, administration or an equivalent formal process; or
• us determining, and recording in writing, that the debt is not recoverable.

You do not need to claim. When a loan defaults we calculate what is owed to each lender and pay it into your cash balance within 30 days of the default date, and we write the payment into your activity like any other movement.

When we pay you, the right to recover that debt passes to us. If we later recover more than we paid you, the surplus attributable to your stake is passed back to you.

Claims are paid first from a ring-fenced Lending Provision Fund, held separately from our operating money and from client cash. The fund exists so that a valid claim is paid quickly, from money already set aside — how we fund it is our business; that it is there is yours.

• It is our money, set aside in advance. Nothing is deducted from what you lend or from the interest you are paid.
• We keep it stocked. When claims draw it down, we refill it from our own capital.
• You can see it. We publish the fund’s balance and the size of the loan book it stands behind, updated at least quarterly.

The fund is the first pocket, not the promise. The promise is section 7.

The fund is the first place a claim is paid from. It is not the limit of what we will pay.

If valid claims exceed what the fund holds, we meet the shortfall from our own capital. There is no cap on that commitment and no pro-rata reduction while Investfora is trading: the fund exists so claims are paid quickly and from money already set aside, not to put a ceiling on what you are owed.

The one thing no wording can promise is the firm outliving the promise. If Investfora were ever insolvent, an unpaid claim would rank alongside our other unsecured creditors — that is company law, not a reservation on our part. It is also the honest difference between this guarantee and the statutory deposit guarantee, which pays out even when the institution behind it is gone.

• Any part of your claims above €100,000 in one calendar year (section 3).
• Interest that would have accrued after the default date (see the late-payment terms).
• Losses on anything other than business lending — crypto, a trading account and fixed-term deposits are outside this guarantee entirely.
• Loss caused by you giving someone else access to your account, or by fraud committed by you.
• Any amount you have already recovered from the borrower or from security.

We may change these terms or withdraw the guarantee for new loans at any time, by publishing the change here. A loan already funded keeps the guarantee that applied on the day it was funded, for the life of that loan. We cannot take cover away from money you have already lent.

This guarantee is governed by Spanish law. LIFT INVESTMENT MANAGEMENT SGEIC SA is authorised and supervised by the CNMV (Comisión Nacional del Mercado de Valores) under register no. 244. If you think we have applied it wrongly, write to us first; if you are not satisfied you may take the complaint to the CNMV.