Payment Method

Terms and Conditions

POSITIVITI has contracted into an International Microloan Lending Program as described below:

1. In order to receive interest, the participating lender must have their principal contribution secured in POSITIVITI for at least thirteen (13) months. The International Microloan Lending Program is a joint venture of World Workforce International and Open Valley Investment Group Limited, Kenya, Africa.
2. The participating lender will receive interest of one percent (1%) per month for contributions less than $50,000. Participating lenders that contribute over $50,000 will receive three percent (3%) monthly. This collective amount of earned interest plus principal is available after the thirteen (13) month lending period has ended. Once the thirteen (13) month term concludes, the funds (principal and interest) may continue in the program for another term that consists of twelve (12) months. Each following year will indefinitely repeat the twelve (12) month term until notified otherwise.
3. The lending program consists of microloan portfolio of qualified SMEs (Small and Medium Enterprises) in Africa (IFC 2023 data).
4. There is a high element of risk in this program.
5. POSITIVITI is not a bank, and it is not FDIC insured. You may lose value with lent principal funds and there is no bank or interest return guarantee.
6. There is a thirty (30) day grace period of no interest return on all initial lending contributions. Once the thirty (30) day grace period is completed, the earned interest will accrue on the following month, and so on, month-to-month.
7. California Analytics is the bill payment vendor who has been contracted to receive and log fund deposits/contributions and to transmit POSITIVITI funds to World Workforce International for forwarding to the international microloan lending program.
8. POSITIVITI is the registered brand name of the microloan lending program.
9. Quarterly statements are issued for each account, and an online account(s) will be available for each participating lender.
10. There is an annual $20 maintenance fee per each account. The first year is free.
11. The microloan lending program will be allowed a ten (10) business day grace period to deposit the check(s) based upon the received date. If the program fails to deposit the check(s) within ten (10) business days, the "contribution date" will be backdated to the date of when the check(s) was/were "received". The contribution date will coincide with the date that the check(s) is/are deposited into POSITIVITI.
12. The microloan lending program will be allowed a grace period for processing disbursements/withdrawals. Distributions (Full Account or One-Time) of twenty-five thousand ($25,000) or less can take up to fifteen (15) business days for processing, and for distributions (Full Account or One-Time) over twenty-five thousand ($25,000) can take up to thirty (30) business days. Once the program receives a distribution request form, no account interest will accrue during the fifteen (15) or thirty (30) day processing period.
13. Processing distributions of $100,000 or more may require a maximum of 60 business days. It is important to acknowledge that banks and financial institutions, including Positiviti Lending, frequently impose hold times on funds in order to adhere to regulatory obligations and internal procedures. These hold times are implemented to mitigate risks such as fraudulent activities, money laundering, and other potential threats associated with substantial monetary transactions.

IMPORTANT: As a participating lender, I hereby acknowledge and consent that I grant POSITIVITI the authority to perform a credit check and/or background check for the purpose of satisfying regulatory requirements pertaining to corruption, terrorism, money laundering, or fraud. Our administrative office is obligated to report any cash or assets withdrawn from POSITIVITI. The interest income earned on such withdrawn assets will be duly reported to you and the Internal Revenue Service (IRS), as required by IRS Form 1099-INT. The issuance of Form 1099-INT to participating POSITIVITI lenders will take place no later than January 31st of the subsequent year following the removal of an asset from the program.

By signing this electronic signature, I acknowledge that I consent to authorize and affirm by this electronic signature as equivalent to signing by hand. My electronic signature is a legally binding representation of my consent and agreement to the terms set forth.

INTERNATIONAL PEER TO PEER LENDING AGREEMENT

Loan Amount & Interest
1. The Lender promises to contribute a loan of $ USD to the Borrowing Lender and the Borrowing Lender promises to pay this interest amount to the Lender with interest payable on the unpaid principal at the rate of percent per month.
2. The Borrowing Lenders are jointly and severally liable to the Lender for the full principal to be paid back at the end of the 13-month term.
Default
3. Notwithstanding anything to the contrary in this Agreement, if the Borrowing Lender defaults in the performance of any obligations under this Agreement, then the Lender may declare the principal amount owing and interest due under this Agreement at that time to be immediately due and payable within 30 days of the default notice.
4. Further, if the Lender declares the principal amount owing under this Agreement to be immediately due and payable, and the Borrowing Lender fails to provide full payment, interest at the rate of 20 percent per annum, calculated yearly, not in advance, will be charged on the outstanding amount commencing the day the principal amount is declared due and payable, until payment is received by Lender.
Governing Law
5. This Agreement shall be governed by and construed in accordance with the laws of the state of Delaware without regard to its conflicts of law provisions. Any dispute arising out of or in connection with this Agreement shall be submitted to the exclusive jurisdiction of the courts of the United States. This Agreement shall be governed by and construed in accordance with the laws of the United States of America, without regard to its conflicts of law provisions.
Costs
6. All costs, expenses and expenditures including, without limitation, the complete legal costs incurred by enforcing this Agreement as a result of any default by the Borrowing Lender.
Binding Effect
7. This Agreement will pass to the benefit of and be binding upon the respective heirs, executors, administrators, successors, and permitted assigns of the Borrowing Lender and Lender. The Borrowing Lender waives presentment for payment, notice of non-payment, protest, and notice of protest.
Amendments
8. This Agreement may only be amended or modified by a written instrument executed by both the Borrowing Lender and the Lender.
Severability
9. The clauses and paragraphs contained in this Agreement are intended to be read and construed independently of each other. If any term, covenant, condition, or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the parties' intent that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement will in no way be affected, impaired or invalidated as a result
General Provisions
10. Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement. Words in the singular mean and include the plural and vice versa. Words in the masculine mean and include the feminine and vice versa.
Entire Agreement
11. This Agreement constitutes the entire agreement between the parties and there are no further items or provisions, either oral or otherwise

Membership

POSITIVITI

Micro Loan Program

Acknowledgement

I accept the condition that I am a member of World Workforce International, a non profit organization, (USA) and as a participant member in the Positiviti Micro Loan program and I am referred to as a lending member. I understand that my funds are being lent out on a micro lending app which is being administered by Open Valley Investments of Kenya and the recipients of the loaned funds are known as borrowers and/or borrowing members located in Kenya and Rwanda and Uganda. According to the terms and conditions, in the event that I withdrwaw interest income payable through World Workforce International, I understand that at the end of the calendar year, I will receive a 1099 form of interest income as reported to the IRS.

Berry Odhiambo

Trustees

World Workforce International

330 Bullard Avenue

Clovis, California 93612 U S A

1-833-593-0135

info@positivitilending.com