Terms of Use

Loan Terms

All loans are made by Seneca One, LLC. To be approved for a loan (a) you must currently be receiving unencumbered structured settlement, lottery or similar periodic payments (“Periodic Payments”) with an aggregate face value of at least $100,000 due to you within the next 10 years, and your next Periodic Payment is due prior to the loan’s due date, or (b) you are employed or are otherwise receiving a regular stream of income. You may be required to provide a valid government-issued picture ID, authorize Seneca One, LLC or its affiliates to pull your credit, and you will be required to sign a note and security agreement (the “Loan Agreement”). If your Periodic Payments are structured settlement payments, then Seneca One, LLC will NOT take a security interest in those payments and they will NOT serve as collateral for any loan. However, any proceeds from the sale of those Periodic Payments may serve as collateral for any outstanding loan due to Seneca One, LLC. Loans may not be available if you have an outstanding loan due to Seneca One, LLC or its affiliates. Loan amounts and interest rates may vary based on state law. The loan shall be repaid in monthly installments, unless otherwise agreed to by you and Seneca One, LLC in writing. Loan are not available to residents of Louisiana, Nevada, New Mexico, North Dakota, Ohio, and South Dakota, but other financial options may be available to residents of these states. Loans are available only on a limited basis in Delaware, Iowa, Mississippi and Missouri. Any unpaid loan may be subject to federal income tax. You will receive a 1099 for any unpaid loan of $600 or more, and you should consult with a tax advisor with respect to any tax consequences. Loans are subject to a default interest rate of the lesser of eighteen percent per annum or the maximum interest rate provided by applicable state law. Seneca One, LLC does not provide legal, tax or investment advice.

Assignment Terms

If you are interested in selling a portion of your Periodic Payments to Seneca One (as defined below), Seneca One’s purchase and advance programs are subject to (a) confirmation that you are receiving unencumbered Periodic Payments, (b) your entering into an agreement to sell, transfer, or assign a portion of the Periodic Payments to Seneca One pursuant to the applicable state transfer statutes (the “Assignment Agreement”), (c) determination by Seneca One that the facts surrounding your decision to sell the Periodic Payments serve as sufficient justification for the transaction contemplated by the Assignment Agreement (the “Transaction”) and that such Transaction would likely be approved by a court of competent jurisdiction, (d) your executing and returning to Seneca One all ancillary documents required to process the Transaction, (e) Seneca One reasonably determining the payor of the Periodic Payments is not in liquidation or receivership, and otherwise has the financial wherewithal to timely make the Periodic Payments, and (f) Seneca One’s underwriting guidelines in effect from time to time (collectively, the “Transaction Requirements”). If you enter into an Assignment Agreement and need funds prior to the consummation of the Transaction, Seneca One may, from time to time, advance to you a portion of the purchase price prior to the consummation of the Transaction. You will be required to execute a note or similar document agreeing to repay the advance (the “Advance Document”). Upon consummation of the Transaction, an amount equal to the aggregate advances provided to you will be deducted from the purchase price, and will be paid to Seneca One. If the Transaction does not fund, then the advance shall be repayable by you pursuant to the terms of the Advance Document. Advances to a structured settlement annuitant are generally not required to be repaid if the court finds that the Transaction was not in the best interest of the annuitant and denies the petition seeking approval of the Transaction. You will receive a 1099 for any advances, in the aggregate, over $600 that are not repaid. You should consult with a tax advisor with respect to any tax consequences. Any such advance is made with the expectation that the Transaction will be consummated, and you will have an obligation to continue to cooperate with Seneca One in its efforts to consummate the transaction. The amount of any advance will vary based on the terms of and circumstances surrounding the Transaction. Advances may be paid in increments up until the funding of the Transaction. Services void where prohibited, and all Transactions are subject to state and local laws. Final discount rate, amount of transaction, and approval of transaction will be determined on a case-by-case basis. Nothing contained on this website is intended to serve as legal, tax, or financial advice. You should seek independent legal, tax, and financial advice from lawyers, accountants, and financial experts, as appropriate.

Article Content

Certain articles and other content may be posted on Seneca One’s website from time to time. Such content is published by Seneca One and is impersonal and does not provide individualized advice or recommendations for any specific structured settlement or lottery prize annuitant. The content is for informational purposes and does not constitute professional advice. You should consult with your own legal, financial and/or tax advisor. The articles and information available on this website, whether created internally or by unaffiliated third parties, are provided by Seneca One as a convenience, without representation or warranty of any kind including, but not limited to, any express or implied warranty. Although the articles and information made available on this website have been provided by Seneca One in good faith, Seneca One does not warrant the correctness thereof. Each visitor should consult multiple sources of information to better ensure the accuracy of all facts with which he/she are concerned.

Reviews Submission Terms & Conditions

By submitting an online review at Senecaone.com you are giving your permission for Seneca One, in its sole discretion, to use your comments in marketing materials, including but not limited to website, social media and print. The reviews featured on this website are moderated and Seneca One reserves the right to display reviews that, in its sole discretion, it deems appropriate. You further understand and agree that if Seneca One features your review, you will only be identified by your first name, last initial, city and state. By submitting your review, you further agree to allow Seneca One to contact you either via email or at the address on file regarding your review.

Export Control

You represent and warrant that you are not (a) located in any country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government as a “terrorist supporting” country, or (b) listed on any U.S. Government list of prohibited or restricted parties including the Treasury Department’s list of Specially Designated Nationals or the U.S. Department of Commerce Denied Person’s List or Entity List. You also agree that you will not use the Application for any purposes prohibited by United States law.

Seneca Entities

Seneca One, LLC, Lump Sum Capital, LLC, Freedom First Capital, LLC, Guaranteed Funding, LLC, and Direct Capital, LLC are all wholly owned subsidiaries of Seneca One Finance, Inc. Seneca One Finance, Inc. markets through other subsidiaries and tradenames, and for purposes of these Terms of Use, Seneca One Finance, Inc., together with all of its subsidiaries are referred to as “Seneca One”.