Terms & Conditions

By accessing our website, submitting a loan application, or using any Edge Funds service, you agree to be bound by these Terms and Conditions. If you do not agree, please do not use our services.

These Terms are governed by the laws of the Federal Republic of Nigeria, including the Federal Competition and Consumer Protection Act 2018 (FCCPA) and the Nigeria Data Protection Act 2023.

To apply for a loan with Edge Funds, you must:

• Be a Nigerian citizen or resident aged 18 years or above
• Have a valid BVN and NIN
• Have a verifiable source of income or business activity
• Provide a credible guarantor where required
• Have a valid Nigerian bank account for disbursement

Note that your BVN and NIN are requested at the verification stage, after initial review of your application, rather than at the point of first enquiry.

Submitting an application does not guarantee loan approval. Edge Funds reserves the right to approve, decline, or offer a modified loan amount based on credit assessment, document verification, and risk evaluation.

You will be notified of the outcome of your application within 72 business hours of complete submission. Rejection decisions will be communicated with a general reason and information on how to appeal.

Automated assessment: Part of our initial credit assessment uses automated scoring. You have the right to request that a decision materially affecting you be reviewed by a member of our credit team rather than determined solely by automated means. Email hello@edgefunds.com to request a human review.

All applicable interest rates and fees are published on our Rates & Fees page and will be disclosed to you again in writing before you finalise your loan agreement. The following apply:

• Edge Biz (SME Loan): Flat monthly interest rate of 7–10% per month (84–120% per annum flat; representative APR approximately 142–214% on a reducing balance basis); one-time 2–3% processing fee on principal
• Edge Tuition (Student Loan): 0% interest during the study period and the 2-month post-graduation grace period; thereafter 5% flat per month (60% per annum flat; representative APR approximately 100%); one-time 3% processing fee on principal
• Edge Pay (Salary Access): 5% service fee per withdrawal transaction, no interest (equivalent to approximately 130% per annum if used in every pay cycle)
• Late payment penalty: 2% per month on the overdue balance, applied to all products

These are the only charges that will ever apply. There are no application fees, insurance charges, disbursement fees, or early repayment penalties. No charge will be levied on you that was not disclosed in your loan offer letter.

This is high-cost, short-term credit. The specific interest rate, all fees, your Annual Percentage Rate (APR), your total amount repayable, and your full repayment schedule will be stated in your loan offer letter and Loan Agreement before disbursement and before you are asked to commit.

You agree to repay the full loan amount, interest, and applicable fees by the agreed repayment schedule. You authorise Edge Funds to debit the repayment amounts from your designated bank account on the due dates.

In the event you are unable to meet a repayment, you must notify us at least 5 business days before the due date to discuss restructuring options.

If a scheduled payment is missed, we will issue you a formal written notice within 5 business days and offer to discuss a restructuring or revised repayment plan. A loan is only classified as being in default if payment remains unreceived 30 days after the due date. In the event of default:

• Late payment fees will accrue at 2% per month on the outstanding balance
• The default will be reported to credit bureaus (CRC, FirstCentral), adversely affecting your credit score
• Legal recovery proceedings may be initiated
• Your guarantor may be contacted and held liable

Edge Funds will not engage in harassment, public shaming, or contact persons not disclosed during the application for recovery purposes.

Where collateral is pledged, it will only be enforced in the event of loan default after due notice is provided to the borrower. You will be given at least 14 days' written notice before any collateral enforcement action is taken.

We do not accept or request blank cheques from borrowers or guarantors as security, under any circumstances. Scheduled repayments are secured by a signed direct debit mandate authorising the agreed instalments on the agreed dates only.

Cooling-off: You have a cooling-off period of 3 business days from the date your loan is disbursed. If you notify us within that period and return the full principal, no interest will be charged and your processing fee will be refunded in full. To exercise this right, email hello@edgefunds.com or call 08063412267.

Prepayment: You may prepay your loan at any time without penalty. Early settlement will be applied to outstanding principal first. Please notify us via email or phone to arrange a prepayment calculation.

You represent and warrant that all information provided during your application is accurate, complete, and truthful. Providing false or misleading information is a breach of these Terms and may result in immediate loan recall, blacklisting, and criminal referral under the Advance Fee Fraud and Other Related Offences Act.

Your use of Edge Funds services is also governed by our Privacy Policy, which is incorporated into these Terms by reference.

If you have a complaint about any aspect of our service, please refer to our Complaints Policy. You also have the right to escalate unresolved complaints to the Federal Competition and Consumer Protection Commission (FCCPC).

Edge Funds shall not be liable for any indirect or consequential loss arising from your use of our services. Our total liability shall not exceed the principal amount of the loan disbursed to you.

We reserve the right to update these Terms. Changes will be communicated via email or website notice with at least 14 days' advance notice. Continued use of our services after changes take effect constitutes acceptance.

These Terms are governed by the laws of the Federal Republic of Nigeria. Any disputes shall first be subject to good-faith negotiation, then mediation, and if unresolved, to the jurisdiction of Nigerian courts.

Electronic contracting: You agree that your electronic acceptance of these Terms and of your Loan Agreement, including by ticking a consent box or applying an electronic signature, is valid, binding, and enforceable to the same extent as a handwritten signature.

Set-off: We may set off any amount you owe us under a loan agreement against any amount we hold on your behalf, but only after giving you at least 5 business days' prior written notice.

Assignment: We may assign or transfer our rights under your loan agreement to a third party, provided that your terms, rate, and repayment obligations remain unchanged and you are notified in writing. You may not assign your obligations without our written consent.

Force majeure: Neither party shall be liable for failure to perform obligations caused by events beyond reasonable control, including natural disasters, civil unrest, or failure of national payment infrastructure. Your obligation to repay principal is not extinguished by such events, but we will not apply late payment penalties for delays directly caused by them.

Severability: If any provision of these Terms is found unenforceable, the remaining provisions continue in full force.

For questions about these Terms, contact us at hello@edgefunds.com or call 08063412267.