October's Terms and Conditions

We welcome you to october.eu and app.october.eu (hereinafter the "Site").

The Site is published by October SA (RCS Paris 804 264 174), 94 rue de la Victoire, 75009 Paris, France

Director of publication: Olivier Goy - President

E-mail address: [email protected]

The sections reserved for borrowers (under the directories fr.october.eu/borrower and app.october.eu/requests) as well as the section reserved for professional investors (under the directory fr.october.eu/institutions) are offered by October Factory (RCS Paris 823 469 846), a portfolio management company approved by the Autorité des Marchés Financiers under number GP16000030. In accordance with regulations, October Factory's staff remuneration policy is available from October Factory upon written request.

The other sections are offered by October IFP (RCS Paris 808 353 155), registered as a Participating Finance Intermediary with the Organisme pour le registre unique des intermédiaires en assurance, banque et finance (ORIAS), under number 15000364. October IFP is a Lemon Way payment services agent under number 69593 on the REGAFI register.

The Site is hosted by OVH (RCS Lille Métropole 424 761 419), Société par actions simplifiée, 2 rue Kellermann - 59100 Roubaix - France and Amazon Web Services LLC, P.O. Box 81226, Seattle, WA 98108-1226.

Any dispute relating in particular to the validity, interpretation, performance or breach of these TOU shall be subject to the exclusive jurisdiction of the French courts.

Navigation on the Site is subject to the European and French laws and regulations in force and to the present General Conditions of Use (hereinafter "GCU").

Thereafter, October refers to October SA and its subsidiaries.

1. Access to the Site

1.(1) General provisions

To access and use all the features of the Site, you must be an adult or a minor with parental authorisation, not be considered a "US person" as defined by the US tax authorities, have a bank account in the Euro zone, a valid e-mail address and a mobile phone number.

Access to certain sections of the Site requires the use of personal access codes. In this case, it is up to you to take the appropriate measures to ensure the secrecy of these codes. You may modify them at any time. However, the number of attempts to access these sections may be limited in order to prevent fraudulent use of these codes. We invite you to inform us of any fraudulent use of which you may become aware.

You acknowledge that the data that you communicate to us and that are stored in our information systems are accurate and are proof of your identity. We would be grateful if you could inform us of any possible modification of these data.

In the event of non-compliance with the rules described in these Terms and Conditions of Use, we reserve the right to suspend your access to the Site, in which case we will inform you as soon as possible.

Although we make every effort to keep the Site accessible at all times, we cannot guarantee this access under all circumstances. Indeed, and in particular for reasons of maintenance, updating, or for any other reason beyond our control, access to the Site may be interrupted without any liability on October's part. Navigation on the marketplace is entirely secure (SSL - https).

1.2. registration of individual lenders

1.2.1 Pre-Registration - Step 1: Validation of the TOS

Before you can access the list of projects available on the site, you must :

Pre-register (by providing your name, surname, e-mail address and by choosing a password which must contain at least 8 characters including 1 number) ;

Validate the present Terms and Conditions of the Site, as well as the General Terms and Conditions of the Payment Service Provider and/or Electronic Money Service Provider or any intermediary mandated by the Platform appearing on the Site at the address fr.october.eu/cgupsp by ticking the box provided for this purpose;

Confirm your e-mail address, by clicking on the link in the e-mail sent to you following your pre-registration.

At this stage, you will automatically be registered to receive a regular newsletter presenting the new projects available on the Site, as well as the evolution of the projects in progress. If you wish to unsubscribe from this newsletter, simply unsubscribe when you receive the first letter by clicking on the link included inside the letter.

After this step, you have the choice to continue your subscription or to browse the site to discover projects to be financed .

1.2.2 Pre-registration - Step 2: Security, Two-factor authentication and simple electronic signature

You will be asked for some additional information, including your date of birth, place of residence and mobile phone number.

The investment process and the simple electronic signature of loan contracts on the Site takes place through a secure session (SSL - https) with two-factor authentication including 2 steps:

  • The first stage of authentication is carried out using your e-mail and your password;
  • The second stage is carried out by sending an SMS to your mobile phone containing a signature code to be registered on the Site to validate your pre-registration and fully express your consent to adhere to the Site's TOS.

1.2.3 Registration: KYC (Know Your Customer) process - Verification of your identity

As October IFP carries out an intermediation activity in participative financing, the Site is subject to the regulations in force relating to the fight against money laundering and terrorist financing.

For this reason, before being able to access all the functionalities of the Site, and in particular to be able to Invest in accordance with article 2 of these Terms and Conditions, you must download the following 3 documents:

  • Copy of one of the following 3 types of documents
    • Valid passport (pages 2 and 3) in colour
    • Valid National Identity Card (Front / Back) in colours
    • Valid residence permit (front and back) in colour
  • Tax residence of individuals (a copy of one of the following documents)
    • Water discharge (less than 3 months) ;
    • Electricity bill (under 3 months);
    • Gas bill (under 3 months);
    • Telephone, mobile or internet bill at your address (- 3 months);
    • Housing tax (can be transmitted from 01/11 to 30/04) ;
    • Property tax or estimated third party tax (can be sent from 01/10 to 31/03);
    • Rental receipt from an institution (less than 3 months).
  • A bank or postal identity card

This verification step is entirely manual and may take up to 2 working days.

Any false or irregular declaration may be subject to specific processing to prevent fraud.

1.2.4 Adequacy of your October Account

Before you can invest on the Site in accordance with Article 2 of these TOS, you must fund your October Account by credit card (up to €1,000 per transaction, within a limit of €2,000 over 30 sliding days) or by transfer.

1.2.5 Adequacy test

At the end of the verification process, you must answer a multiple-choice questionnaire (estimated completion time: 1 minute) to confirm your investment capacity and suitability to invest on the site.

1.3) Borrower Registration

1.3.1 Test your company's eligibility for financing on October, free of charge and without obligation

By visiting the following link: https://fr.october.eu/emprunter/, you can test your company's eligibility for financing on October. All you need to do is first of all communicate your company's SIREN, the amount of financing required and the purpose of the financing.

In order to receive the result of your eligibility test, you will be asked to register and in particular to check your e-mail address and the need for financing.

1.3.2 Constitution of the financing file and analysis

The constitution of the financing file will be mainly manual and will require the following documents to be sent (without this list being exhaustive):

  • The last 3 tax bundles (annexes 1 to 17)
  • The schedule of your existing debts

An analyst will contact you by e-mail and telephone as soon as possible to study your project and better understand your needs. The analyst may ask you for additional documents if necessary to prepare his analysis, which he will then formally submit to October Factory's Credit Committee.

The duration of this process is variable, and takes on average 4 to 5 working days depending on the nature of the file and the speed of the exchanges.

After validation by the October Factory Committee, the financing request is sent to October IFP, which decides on the eligibility for equity financing.

1.3.3 KYC (Know Your Customer) process - Verification of Your Company's identity and the identity of the Director(s) authorised to commit the Company

October Factory is subject to the regulations in force relating to the fight against money laundering and the financing of terrorism, and for this reason we will have to validate, in parallel with the credit analysis, the identity of the ultimate beneficiaries of the transaction and the company's management.

Any false or irregular declaration may be the subject of specific treatment designed to prevent fraud.

1.3.4 Acceptance of the Loan Offer / Electronic Signature

The decision of the October Factory Credit Committee is based on an analysis taking into account multiple factors (an explanation of our analysis process is available here). If the October Factory Credit Committee agrees, the application for financing is forwarded to October IFP, which will confirm or not the eligibility for Participating Financing and will refuse or agree to allow the project to be financed by the private lenders on the Site. You acknowledge the sovereignty of the October Factory Credit Committee in making the decision to agree or refuse financing for your project, and that the decision to refuse will not engage the responsibility of October Factory.

In case of a positive response from us, your project will be put online only after the signature of our Borrower Agreement. The Borrower Agreement lists the information provided by you during the steps detailed in paragraphs 1.3.1 to 1.3.4 above of these TOS, the main characteristics of the loan (amount, duration, rate, fees and commissions, estimated TEG), and the legal conditions of the online posting of your project on the Website.

The Borrower Agreement must be reviewed and signed manually or electronically by you.

By signing the Borrower's Agreement and the power of attorney attached thereto, you formally authorize October IFP to electronically sign on your behalf the multiple loan agreements of the Lenders.

2. Use of the Site

We remind you that the use of the Site assumes that you have the necessary hardware and software to use the Internet.

Furthermore, we remind you that the Internet cannot guarantee the security, availability and integrity of data transmissions, and we cannot be held liable in the event of errors, omissions, deletions, delays, failures (in particular due to viruses), communication lines, computer hardware and software over which we have no control, or in the event of unauthorised use of or damage to any content that you may publish on this Site.

On the secure areas, you will be able to find out about investment or borrowing opportunities and thus either lend to companies or borrow from individuals.

You undertake to use the information made available on the Site exclusively for the purpose of determining the opportunity to apply for or obtain financing.

Furthermore, you agree to indemnify October for any harmful consequences directly or indirectly related to the use you make of the service.

It is expressly brought to your attention the following provisions. By using this Site, you agree not to:

  • disseminate content that is harmful, defamatory, unauthorized, malicious, infringing on privacy or image rights, inciting violence, racial or ethnic hatred;
  • use the Site for political, propaganda or proselytizing purposes;
  • publish advertising or promotional content;
  • disseminate information or content likely to offend the sensibilities of younger people;
  • carry out illegal activities, in particular infringing on the rights of holders of rights to software, trademarks, photographs, images, texts, videos, etc. ;
  • use an identifier that is defamatory, malicious, infringes privacy or image rights, incites violence, racial or ethnic hatred.

October cannot be held responsible for any damage whatsoever, whether direct or indirect, resulting from the use of this Site.

2.1 Services offered on the Site

2.1.1 You wish to lend on the Site

The lenders investing in October's French site are natural persons of legal age.

The October Account is an account that allows you to simply invest your savings in loans issued by French companies.

You can open an October Account from €50 and lend from €20 to many companies selected by our teams of analysts.

You choose the companies you like, and in just a few clicks you lend and every month you receive the instalments honoured by the companies you have lent to.

We invite you to read the General Terms and Conditions of our Payment Service Provider and/or Electronic Money Service Provider or any intermediary appointed by the Platform appearing on the Website at the address fr.october.eu/cgupsp which describe the operation of the payment and reimbursement operations that may be carried out on your October Account.

We remind you that lending money to small and medium sized companies presents a risk of total or partial loss of the sums lent, and obliges you to immobilise the sums lent for the entire duration of the loan. We invite you to diversify your savings over a large number of projects in order to counterbalance the risk of default (and loss) on a given project. Diversification is a fundamental point for any investor on a lending platform.

We invite you to take the time to think about it and to carefully read the documentation made available to you on the Site and check all the information you deem useful before making your decision.

October IFP will not be held responsible for the financial and fiscal consequences of loans granted by you on the Site, and reminds you that you retain full initiative and responsibility for the lending choices made on the Site.

2.1.2 You wish to borrow on the Site

You are a company domiciled in metropolitan France and registered with the Trade and Companies Register and have closed at least two fiscal years.

You need a business loan to finance a specific project, quickly and without compensation.

October Factory's teams will analyse your file and give you access to a base of investors ready to finance your project. In this respect, you undertake to provide October Factory, for the study of your file and then within the framework of the information disseminated on the Site, with accurate, precise, complete and without omissions information on your project and the situation of your company.

We invite you to read the General Terms and Conditions of our Payment Service Provider and/or Electronic Money Service Provider or any intermediary appointed by the Platform appearing on the Website at the address fr.october.eu/cgupsp which describe the operation of the payment and reimbursement operations that may be carried out on your October Account.

We remind you that borrowing money from the public presents a risk of over-indebtedness, so be sure to define your financing needs and your ability to repay carefully.

October does not provide financial advice to borrowers and is not responsible for the financial and tax consequences of any loans you may receive through the Site. You retain full initiative and responsibility for the financing and repayment of your project.

2.1.3. You wish to introduce October to your acquaintances

Each October lender has a unique promotion code to introduce the platform to their acquaintances. This promotion code works as follow: if a lender (the "Referrer") shares their code with an acquaintance (the "Referee"), both of them will receive a €20 bonus if the Referee opens an October account with the promotion code and lend €500 (or €200 if the referrer benefitted from loyalty advantages).

The amount of bonuses lenders can earn by introducing the platform is capped at €200. Once they have reached the limit of bonuses they could receive, Referrers will no longer be paid any bonus. Referrers will need to become professional partners of October and sign a contract with the platform to define the conditions under which they will be paid to introduce October to people interested in granting loans to companies. To sign a partnership with October, you can contact us at [email protected]r.eu.

2.2. downloadable content

We may make available to you on this Site content that you are authorized to download (hereinafter the "Downloadable Content"). By downloading or using this Downloadable Content, you agree to use it in accordance with these TOU.

We grant you a non-exclusive and non-transferable right to use the Downloadable Content solely for your personal and private use, free of charge and for the legal term of copyright protection. Any reproduction, representation, modification or distribution of the Downloadable Content must be expressly authorised by us.

2.3. data of a personal nature

In the course of using this Site, October will process personal data. For more information on how we process your personal data, please see our privacy policy, which can be accessed via the following link: https: //fr.october.eu/confidentialite

3. Pricing conditions

For the pricing of the services offered on the Site, please refer to our dedicatedpage.

4. Taxation

Certain information concerning the taxation of the granting of loans by individual investors is given for information purposes only on the Site, on our faq. You acknowledge that this information is given for information purposes only and does not constitute tax advice.

October shall not be held liable for the financial and tax consequences of loans granted or received on the Site, and encourages you to consult your own legal or tax advisor to study your own situation.

5. Evidence Agreement

Acceptance of the TOS by electronic means shall have the same evidential value between the parties as the agreement on paper.

The computerized registers kept in the computer systems will be kept under reasonable conditions of security and considered as evidence of the communications between the parties.

The archiving of contractual documents shall be carried out on a reliable and durable medium that can be produced as evidence.

6. Loan agreements

6.1. signature of loan contracts by lenders

By signing the present General Terms of Use, you accept, as a lender, that the signature of the loan contracts that you will be led to conclude on the platform october.eu is carried out by following the steps described below, and you acknowledge that it represents a simple electronic signature within the meaning of article 1316-4 2nd paragraph of the civil code :

  • 1st stage - Registration on the Site in accordance with the terms of article 1 of these CGU ;
  • 2nd step - Selection of the project and the amount invested
  • Step 3 - A summary of the essential elements of the transaction is communicated to you during the signature process and we will ask you to reiterate your adherence to the TOS, to accept the loan contract by checking the acceptance box and clicking on "validate" thus expressing your willingness to sign the contract. The contract is accessible and downloadable on the Site in your personal space.
  • 4th step - Verification of your identity: you receive a signature code by SMS that you must enter on the Site in the appropriate field in order to finalise the signature and fully express your consent to the conclusion of the transaction.

See an example of a loan contract.

6.2. managing the collection of Finsquare loan contracts

Following the takeover of Invex (under the commercial name of Finsquare) by October SA, October Factory is in charge of the amicable collection of the debts initially intermediated by Invex.

In the event of late payment or non-payment by the borrower under the loan agreements, October Factory ensures (or has insured), on behalf of the lenders, the amicable or judicial recovery of the loans, and will take the necessary steps (or have them taken) to this end, to recover the loans and, if necessary, to activate the insurance policies taken out.

October Factory ensures the amicable recovery on behalf of all the lenders of the same project.

For any action it will take in this context, October Factory will specify its capacity to act in the name and on behalf of the lenders in respect of the same project and the rights of the lenders against the borrower, in particular any declaration of claims in the context of the borrower's collective proceedings.

October Factory may use all deeds, documents, contracts relating to the loans that financed the project as well as the insurance policies taken out and the information they contain for the purposes of the actions necessary for the recovery of the loans, within the limits of the confidentiality clauses that may be stipulated therein and the mandatory legal and regulatory provisions.

October Factory is authorised to renegotiate and accept, in the name and on behalf of the lenders, any possible adjustments to the loans and to sign all acts necessary for this renegotiation, provided that this renegotiation makes it possible, in the opinion of October Factory, to accelerate or improve the recovery or to avoid a deterioration or loss of the nominal value of the loans, subject to informing the lenders in advance of the adjustments thus proposed.

In connection with these collection measures and possible renegotiations, October Factory must ensure that it always acts in what it considers to be in the best interests of all the lenders to the borrower's project.

October Factory declares that it has completed all the formalities required by the applicable regulations in order to be validly authorised to proceed with the amicable collection of debts on behalf of third parties, in particular, in France, those referred to in articles L. 124-1 and R. 124-1 to R. 124-7 of the Code of Civil Enforcement Procedures (codifying decree no. 96-1112 of 18 December 1996 regulating persons proceeding with the amicable collection of debts on behalf of third parties). October Factory undertakes to maintain in force throughout the duration of its collection mandate in respect of loans the necessary formalities and authorisations enabling it to carry out the activity of amicable collection on behalf of third parties in accordance with the regulations applicable in the jurisdiction concerned.

6.3. transfer of receivables

We would like to draw the attention of private lenders to the fact that the assignment of receivables, particularly between private individuals, is strictly regulated or even prohibited in each country and that it is therefore advisable to check the applicable regulations on a case-by-case basis. If you decide to assign your receivables to a third party, we would like to inform you that this assignment cannot be taken into account on the October platform: October will not be able to modify your portfolio and the loans will continue to be managed by October as if they still belonged to you, which means that you will have to redirect the financial flows to the assignee of your receivables yourself.

We inform individual lenders that institutional investors investing in the same projects have a lighter legal framework under French law to carry out the assignment of their claims due to the professional nature of these claims.

7. Information contained on the site

7.(1) General provisions

We endeavour to provide you with accurate and up-to-date information. However, as the transmission of data and information over the Internet is technically unreliable, we cannot guarantee the accuracy of all information on this Site and assume no responsibility for the use of such information.

Furthermore, we remind you that inaccuracies or omissions may appear in the information available on this Site, particularly due to intrusion by third parties. We invite you to inform us of any inaccuracies or omissions at the following address: [email protected]

The information made available on the Site is provided for information purposes only and shall not under any circumstances constitute an invitation to contract, advice or recommendation of any kind whatsoever. In particular, October IFP does not provide any financial or tax advice.

For any advice, the User is invited to contact his or her usual advisers, particularly in legal and tax matters.

October cannot be held liable for any damage whatsoever, whether direct or indirect, resulting from information contained on this Site.

7.2. hypertext links

The hypertext links set up on this Site may take you to websites published by third parties whose content we do not control. Consequently, and insofar as the hypertext links have been included on this Site solely to facilitate your navigation on the Internet, the consultation of third party sites is your choice and your exclusive responsibility.

In addition, if you wish to create hypertext links to this Site, a request for authorisation must first be sent to us at the following address: [email protected]

8. Closing your October Account

8.1 Upon request of a User.

When the User is a party to one or more outstanding loans, closing his October Account is not possible. Contrary to article 18 paragraph 1 of the Lemon Way TOS, the Payment Account cannot be terminated at the request of the holder.

If the user of the Site is not or no longer a party to one or more loan agreements as an investor or borrower, he may close his October Account at any time. Closing your October Account will result in the return, if applicable, of the sums appearing in your October Account. By closing your October Account you acknowledge that :

  • you will no longer have access to the data contained in your October Account;
  • you will no longer benefit from the information and opportunities available on the Site;
  • you will no longer be able to access the services offered by the Site.

To close your October Account, you will need to send an email from your email address to [email protected] indicating your wish to close your October Account. Any funds remaining in your October Account can only be transferred to the bank or postal account you provided us with when you registered. Within 30 days, you will receive a confirmation email from October confirming the closure of your October Account.

8.2 Upon request of the Payment Service Provider.

In accordance with article 18 paragraph 2 of the Lemon Way TOS, the User's Payment Account can be terminated at the request of Lemon Way. In this case October will also close the User's October Account even if the User is engaged in outstanding loans.

October will then proceed as follows:

  • The User's loans will be repurchased by October at the following value
    • To their outstanding principal for loans for which there is no current payment incident.
    • For all other situations, October will apply a discount ranging from 40% to 100% of the outstanding principal on the redemption value of the position on a discretionary basis.
  • October will make you a proposal to buy back the receivables and loans
    • If you accept this, an assignment agreement will be signed between October and you. The amounts will then be credited to your October Account. The User will have to debit the available balance on his October Account. Following this transfer, October will close the account after notification by e-mail.
    • If you refuse the redemption proposal, October will close the account after e-mail notification. You will never be credited with the borrowers' repayments.

8.3 By decision of October

The Closure of an October Account or its Blocking (the impossibility to lend or top up an October Account while keeping the possibility to debit and access its tax summary) can be pronounced by October in case of :

  • Abnormal operation of the Account,
  • Seriously reprehensible behaviour by the Customer, in particular fraud,
  • Refusal to satisfy an essential information obligation,
  • Refusal to provide information,
  • Provision of false or inaccurate documents.
  • Account inactive (unused and with a zero balance) for more than one year

Reasons for October's assessment include

  • if the Holder has not complied with the provisions of these TOS,
  • if the Registrant has provided October with inaccurate, outdated or incomplete identification data,
  • in the event of a risk of fraud, money laundering or terrorist financing or a risk that could affect the security of the October Account,
  • if the Payment Service Provider receives a large number of refunds, cancels Orders or disputes unauthorised Orders.

This decision is motivated and notified to the User by any means. The reactivation of the October Account will be at the discretion of October.

October has the right to request additional documents and to issue, after analysis, a favourable opinion for the continued use of the October Account by the customer. If a new abnormal behaviour is identified on the same October Account then there will be an automatic and definitive blocking of the Account.

9. Intellectual Property

The Site and each of the elements that make it up (such as trademarks, images, texts, videos, etc.) are protected under intellectual property law.

The development of this Site has involved significant investment and joint work by our teams. For this reason, and unless expressly stipulated herein, we do not grant you any other right than that of consulting the Site for your strictly personal and private use.

Any use, reproduction or representation of the Site (in whole or in part) or of the elements that make it up, on any medium whatsoever, for other purposes, particularly commercial, is not authorised.

10. Referencing

Exceptionally, we may expressly authorise you to reproduce and/or represent all or part of the Site, on certain media. Any request for such authorisation must first be submitted to us at the following address: [email protected] or October, 94 rue de la Victoire, 75009 Paris.

11. Complaints

11.1. you are a private lender

Any complaint you may have should be addressed to October IFP's complaints department, whose contact details are as follows: October, Service réclamations, 94 rue de la Victoire, 75009 Paris,, e-mail: [email protected] The centralisation of complaints by October IFP is carried out as part of its mission as an intermediary in equity financing, and can in no way be assimilated to the provision by October IFP of any consultancy service whatsoever concerning the projects appearing on the Site, nor to any commitment to guarantee repayment by the lenders on the Site.

If you are not satisfied with the response provided by our service or if there is no response within 2 months, you may refer the matter to the consumer ombudsman chosen by the association Financement Participatif France of which our platform is a member - MEDIATION-NET Consommation :

The solution proposed by the Mediator is not binding on the parties, who remain free at all times to leave the Mediation process.

Consumer Mediation :

  • only applies to individual contributors;
  • is limited to relations between funders and platforms (excluding relations with a project leader or a Payment Service Provider)

In the absence of an amicable solution, the most diligent party shall refer the matter to the competent courts.

11.2. you are a professional borrower or lender

October Factory's claims management procedure is available here.

11.3. you are not in a case listed above

In any other case, please send your complaint to [email protected]

12. Modification of the site and conditions

We may change the content and information included in this Site and these Terms and Conditions of Use at any time, in particular in order to comply with any new legislation and/or regulations applicable and/or to improve the Site. Any changes will be incorporated into these Terms and Conditions of Use.

You acknowledge and agree that your use of the Site will constitute your acceptance of the TOS as modified.

Date of last modification of the TOS: 15 December 2021