1. General

1.1 Service provider

The financing application service described in these terms (the "Service") is provided by:

This information is kept available in accordance with section 176 of the Finnish Act on Electronic Communications Services (917/2014).

1.2 Scope

These terms apply to the use of the Service regardless of the channel in which the Service is used:

• on Rahoo’s website;
• on Rahoo’s application form made available in a Rahoo partner’s service;
• in an application collected by the partner’s own solution and forwarded by the partner to Rahoo (see section 1.4).

In these terms, Partner means a company in whose service the application for financing begins, and Financing Partner means a bank, finance company or other provider of financing to which Rahoo forwards applications.

1.3 Acceptance of these terms and formation of the agreement

1.3.1 An agreement between Rahoo and the applicant is formed when the applicant accepts these terms and submits a financing application. The agreement concerns the use of the Service only. It is not a financing agreement and not a commitment to grant financing.

1.3.2 These terms must be accepted before the application is submitted. If the terms are not accepted, the application cannot be processed or forwarded to Financing Partners.

1.3.3 Rahoo keeps these terms available in a form that allows the applicant to store and reproduce them (section 178 of the Act on Electronic Communications Services). The terms are available on Rahoo’s website and can be downloaded as a file.

1.3.4 The Service is intended solely for use by companies and other traders. The parties state that the applicant is not a consumer within the meaning of the Finnish Consumer Protection Act. The parties agree to derogate from the provisions of section 177(1) and section 179(1) and (2) of the Act on Electronic Communications Services to the extent that those sections permit derogation by agreement.

1.4 An application made on a Partner’s own form

Where an application is completed using the Partner’s own solution and the Partner forwards it to Rahoo through an interface, the Partner is responsible for ensuring that the applicant is shown these terms before the application is submitted and that the applicant accepts them.

2. What the Service is

2.1 The Service is a route for applying for business financing. The applicant completes one application, and Rahoo forwards it to those Financing Partners whose basic requirements the application may meet.

2.2 Rahoo supplements the application with data concerning the company available from public registers and from credit reference agencies, so that the application can be directed to the appropriate Financing Partners.

2.3 Rahoo informs the applicant of the status of the application and forwards to the applicant the offers of financing received from Financing Partners.

2.4 Applying does not bind the applicant. Making an application and receiving offers do not oblige the applicant to accept financing. The applicant may decline offers without giving reasons and may withdraw the application in accordance with section 6.5.

3. What the Service is not

This section is essential for understanding who is responsible for what. Rahoo represents, and the applicant accepts, the following:

3.1 Rahoo does not grant credit or financing. Rahoo is not a credit institution or a financial institution and does not grant financing for its own account.

3.2 Rahoo is not a party to the financing agreement. If the applicant accepts an offer of financing, the agreement is formed between the applicant and the Financing Partner. Rahoo is not a party to that agreement and is not responsible for its terms or its performance.

3.3 Rahoo does not make the credit decision. The financing decision is always made by the Financing Partner on its own criteria. The matching carried out by Rahoo is not a credit decision and is not a prediction of one.

3.4 Rahoo does not handle client funds and does not transmit payments between the applicant and the Financing Partner.

3.5 Rahoo does not bear credit loss risk and does not give a guarantee or other security on the applicant’s behalf.

3.6 Rahoo does not give financial, investment, tax or legal advice. The information and comparisons presented in the Service are of a general nature and are not a recommendation to take or not to take financing. The applicant is itself responsible for its decisions concerning financing and for their consequences.

3.7 Rahoo does not guarantee that financing is available or that the applicant will receive any offer or an offer of any particular content.

4. The Service is free of charge and Rahoo’s fee

4.1 The Service is free of charge for the applicant. Rahoo does not charge the applicant for making, processing or forwarding an application.

4.2 Rahoo receives a fee from the Financing Partner if financing is concluded. The amount of the fee may vary between Financing Partners.

4.3 The price and other terms of the financing are decided by the Financing Partner independently. Rahoo aims to ensure that the fee it receives does not affect the price of the financing payable by the applicant, but Rahoo cannot influence the Financing Partner’s pricing and therefore cannot guarantee how the fee is taken into account in it.

4.4 The applicant may ask Rahoo whether Rahoo receives a fee from the Financing Partner whose offer the applicant has received.

5. Requirements and representations concerning the applicant

5.1 Business use. The Service is intended for applying for financing for business purposes. The Service may not be used to apply for consumer credit or for any other private purpose.

5.2 Right of representation. The person making the application represents that he or she is entitled to represent the applicant company and to commit it to these terms. If the application is made by a person without a right of representation, that person is personally liable for the obligations under these terms.

5.3 Accuracy of information. The applicant is responsible for the accuracy and currency of the information it provides and for having the right to give Rahoo the information it submits in the application. The applicant must inform Rahoo without delay if the information provided changes materially before the financing application has been resolved.

5.4 Identification. Rahoo may require the applicant to identify itself using a strong electronic identification method. Rahoo may leave an application unprocessed if identification is not carried out.

5.5 Prohibited use. The Service may not be used:

• to provide false or misleading information or the information of another person;
• to burden the Service or the Financing Partners with no intention of applying for financing, for example by repeated unfounded applications or in order to collect Financing Partners’ pricing or criteria data;
• to make applications automatically or systematically, or to harvest the content of the Service;
• to disrupt the functioning of the Service or to compromise its information security;
• for any purpose contrary to law or good practice.

6. Processing of the application

6.1 Authorisation to forward the application. By accepting these terms, the applicant authorises Rahoo to forward the application and the related information to those Financing Partners to which the application is directed.

6.2 Authorisation to obtain information. The applicant authorises Rahoo to obtain, for the purpose of processing the application, information concerning the applicant company from public registers and from credit reference agencies. Rahoo does not obtain personal credit information concerning the applicant as a private individual.

6.3 Directing the application. Rahoo compares the application automatically against the basic requirements set by the Financing Partners and forwards it to those Financing Partners from which an offer is possible. This matching is not a credit decision. The categories of data taken into account in the matching are described in the privacy notice.

6.4 Processing time. Rahoo endeavours to process applications without delay but does not guarantee any processing or response time. Rahoo is not responsible for a Financing Partner’s processing time.

6.5 Withdrawal of the application. The applicant may withdraw its application by notifying Rahoo before it has accepted that Financing Partner’s offer. Rahoo notifies the withdrawal to those Financing Partners to which the application has been forwarded. Withdrawal does not affect the validity of a financing agreement already concluded.

6.6 Right to refuse. Rahoo may refuse to process or forward an application, or suspend its processing, if:

• the applicant has provided false or incomplete information;
• Rahoo has justified grounds to suspect misuse or use of the Service contrary to section 5.5;
• forwarding the application would be contrary to law or to the agreement between Rahoo and the Financing Partner; or
• the applicant does not identify itself in accordance with section 5.4.

Rahoo is not obliged to give reasons for a refusal to the extent that doing so would reveal procedures relating to the prevention of misuse.

7. The Financing Partner’s offer and the financing agreement

7.1 An offer made by a Financing Partner is that Financing Partner’s own offer. Its binding nature, validity and terms are determined as notified by the Financing Partner.

7.2 Rahoo forwards the offer to the applicant as received. Rahoo is not responsible for the content, pricing or terms of the offer, or for the offer remaining in force.

7.3 Financing is agreed by an agreement between the applicant and the Financing Partner. The applicant must review the Financing Partner’s contract terms before accepting an offer. The Financing Partner has its own terms of use and its own privacy notice.

7.4 Complaints concerning a Financing Partner and claims concerning a financing agreement must be addressed to the Financing Partner.

7.5 Consent to the disclosure of information to Rahoo

7.5.1 Why consent is needed. A Financing Partner is bound by the duty of secrecy under chapter 15, section 14 of the Finnish Act on Credit Institutions (610/2014), or by an equivalent duty of secrecy. It may therefore not tell Rahoo anything about the applicant’s financing without the applicant’s consent — not even whether an offer has been made in response to the application. Without consent, Rahoo could not pass on to the applicant the offer referred to in section 7.2.

7.5.2 What the consent covers. The applicant consents to the Financing Partner disclosing to Rahoo information concerning the applicant and the applicant company as to:

• the content and terms of the financing offer made to the applicant, such as the amount, loan period, interest rate, fees and the validity period of the offer, and whether an offer has been made or the application rejected;
• whether the applicant has accepted the offer, and the amount, loan period and financing product of any financing granted;
• what amounts have been drawn down from the financing and on which dates;
• whether the financing has ended; and
• whether a financing agreement has arisen between the applicant and the Financing Partner as a result of the application, including where the financing is arranged using a financing product other than the one the application concerned. This covers only the financing need arising from the application, not the applicant’s other dealings with the Financing Partner.

The consent also covers companies belonging to the same group as the Financing Partner, to the extent the application or the financing arising from it is handled by them.

The applicant further consents to Rahoo disclosing the above information to the Partner in whose service the application was made, so that the Partner can manage its customer relationship with the applicant. The data disclosed to the Partner is described in section 12 of the privacy notice.

The consent does not cover the applicant’s other dealings with the Financing Partner, account transactions, balances or financing relationships unrelated to the application.

7.5.3 What the information is used for. Rahoo uses this information to pass on the offer to the applicant as described in section 7.2, to monitor the progress of the application, to inform the applicant and the Partner, and to calculate and invoice its intermediary fee under section 4.

7.5.4 Validity and withdrawal. The consent is valid until further notice. The applicant may withdraw it at any time by notifying Rahoo at asiakaspalvelu@rahoo.fi or the Financing Partner directly, and withdrawal stops further disclosures without undue delay. Withdrawal does not affect the lawfulness of the disclosure of information before withdrawal, the financing agreement between the applicant and the Financing Partner, or Rahoo’s right to receive its intermediary fee from the Financing Partner, which is a matter between Rahoo and the Financing Partner and does not depend on the applicant’s consent. After withdrawal, Rahoo may no longer be able to tell the applicant the status of the application.

7.5.5 Relationship to the processing of personal data. This consent concerns the Financing Partner’s duty of secrecy. It is not consent to the processing of personal data within the meaning of the GDPR and it does not alter the legal bases for processing described in the privacy notice referred to in section 8.

7.5.6 How the consent is given. The consent is given on the application form as a separate choice before the application is sent. Rahoo records the time the consent was given, the version of the consent text presented and the version of these terms.

8. Personal data and cookies

8.1 Rahoo processes personal data in accordance with its privacy notice. The privacy notice is available on Rahoo’s website and describes, among other things, the purposes and legal bases of processing, the sources of data, the recipients, the retention periods and the rights of data subjects.

8.2 The privacy notice does not form part of these terms and does not create contractual obligations for the parties. Accepting these terms is not consent to the processing of personal data. Nor is the consent under section 7.5 consent within the meaning of the GDPR: it concerns the Financing Partner’s duty of secrecy.

8.3 The use of cookies and similar technologies is described in the cookies section of the privacy notice, and consent to their use is requested to the extent required by law.

9. Intellectual property rights

9.1 The Service, its content, software, marks and trade marks are the property of Rahoo or its licensors. These terms do not transfer any intellectual property rights to the applicant.

9.2 The applicant may use the Service in accordance with these terms in its own business. The content of the Service may not be copied, modified, imitated or exploited commercially without Rahoo’s written permission.

9.3 The applicant retains the rights to the material it submits to the Service. The applicant grants Rahoo the right to use that material to the extent required to provide the Service and to forward the application.

10. Availability of the Service and changes to it

10.1 Rahoo endeavours to keep the Service available without interruption but does not guarantee that it will operate without disturbance. There may be interruptions in the Service due to maintenance, updates, faults or third-party services.

10.2 Rahoo may develop and change the Service and add features to it or remove features from it. Rahoo may also discontinue providing the Service. Rahoo will give notice of material changes and of discontinuation of the Service on its website or in the Service a reasonable time in advance.

10.3 The range of Financing Partners and Partners may change. Rahoo does not guarantee that any particular Financing Partner or Partner is available in the Service.

11. Limitation of liability

11.1 Rahoo is not liable for:

• the decisions of a Financing Partner or the content, terms or pricing of an offer;
• whether the applicant obtains financing or on what terms;
• the acts, omissions or breach of contract of a Financing Partner or a Partner;
• consequences arising from inaccuracy in the information provided by the applicant;
• interruptions in the Service or disturbances in third-party services.

11.2 Rahoo is not liable for indirect or consequential loss, such as loss of profit, business interruption, loss of a business opportunity, loss arising from a delay in financing, or loss of reputation.

11.3 Rahoo’s total liability for direct loss is limited to one thousand (1,000) euros per event of damage. The Service is free of charge for the applicant, and this has been taken into account in limiting the amount of liability.

11.4 The limitations of liability do not apply to loss caused by Rahoo intentionally or through gross negligence, and they do not limit liability that cannot be limited under the law.

11.5 A claim for damages must be made to Rahoo in writing within a reasonable time and no later than six (6) months from the date on which the applicant discovered the loss or ought to have discovered it.

12. Term and amendments

12.1 These terms are in force until further notice and apply to an application from the moment the applicant has accepted them.

12.2 Rahoo may amend these terms. Amended terms enter into force when they are published on Rahoo’s website. Amendments do not affect applications submitted before the amendment.

12.3 The provisions of sections 3, 8, 9, 11 and 13 remain in force after the processing of an application has ended.

13. Governing law and dispute resolution

13.1 These terms and the use of the Service are governed by Finnish law, excluding its conflict-of-law rules.

13.2 The parties shall seek to resolve disputes primarily by negotiation. A party must present its claim and the grounds for it to the other party in writing, and the parties must conduct negotiations without delay.

13.3 If a dispute is not resolved by negotiation within thirty (30) days of the written claim being presented, the dispute shall be resolved at first instance by the District Court of Southwest Finland (Varsinais-Suomen käräjäoikeus).

13.4 Section 13.2 does not prevent a party from applying for a precautionary measure or for a decision on the collection of a debt before the negotiations have ended.

14. Contact

Enquiries concerning the Service, these terms and applications: asiakaspalvelu@rahoo.fi.