Terms of Service
Last updated: April 2026
Effective date: April 2026
1. Introduction
These Terms of Service govern your use of Credarlo, operated by SM89 ehf, a company registered in Iceland. By using Credarlo you agree to these terms.
2. About Credarlo
Credarlo is a loan management platform that helps individuals structure, track and manage personal loans between friends and family. Credarlo is not a bank, lender or financial institution. We do not provide credit, hold deposits or guarantee repayment of any loan.
3. Eligibility
- Must be 18 or older
- Must be a legal resident of your country
- Must provide accurate identity information
- One account per person
4. User Accounts
- You are responsible for keeping your account secure
- You must provide accurate information
- You must notify us immediately of any unauthorized access
- We reserve the right to suspend accounts that violate these terms
5. Loan Agreements
- Credarlo facilitates loan agreements between users
- All loan agreements are between the lender and borrower directly
- Credarlo is not a party to any loan agreement
- Users are responsible for ensuring their loan agreements comply with local law
- Credarlo provides loan agreements as templates only — not legal advice
6. Fees
- Credarlo charges an origination fee of 1.5% of the loan amount when a loan is accepted
- An annual servicing fee of 0.5% applies on outstanding loan balances
- All fees are clearly disclosed before any loan is created
- Fees are subject to change with 30 days notice
7. Debt Assignment
- Lenders may assign their loan agreements to third party debt collectors in the event of default
- Borrowers consent to this assignment by accepting a loan agreement on Credarlo
- Credarlo may facilitate the introduction of lenders to licensed debt collection agencies
8. Prohibited Uses
- Using Credarlo for illegal purposes
- Providing false identity information
- Using the platform to launder money
- Creating fraudulent loan agreements
- Harassing other users
9. Limitation of Liability
Credarlo is not liable for any losses arising from loan defaults, disputes between users, or technical failures. Our maximum liability is limited to fees paid to Credarlo in the 12 months preceding any claim.
10. Governing Law
These terms are governed by the laws of Iceland. Disputes shall be resolved in Icelandic courts.
11. Contact
For questions about these terms contact us at legal@credarlo.com.