Terms and Conditions

Terms of Use

Supporters Terms of Support

Lending through Growsel involves risk of principal loss. Growsel does not guarantee repayment or offer a financial return on your loan. All farm supports and peer-to-peer crowd-funding to smallholder farmers are not deposits and shall not be deemed to be deposits held by Growsel Microfunds Inc as stipulated in the Banking Regulations.

Growsel uses “social underwriting” to determine smallholder farmers’ creditworthiness and potentials, as such, supporter only receive repayment when the amount supported has been fully recovered by the farmer at end of the farming season. Insurance does not cover poor yield and/or market fluctuations.

Supporter Rights

  1. Supporter is entitled to receive progress report of farming activities and general updates through the Growsel reporting system exclusively when he/she logins in.
  2. Supporter can request to carryout a physical farm inspection from time to time and shall be bear all cost involve.
  3. Supporter ONLY gets full CAPITAL when the agricultural chain is completed, starting from farming and harvest to selling to off-taker partners.
  4. Supporter can ask for his or her funds at anytime, but will forgo a certain percentage determine by the period of supporting the farm and stage of cultivation. Request during cultivation is not available for supporter.
  5. At the end of the period of validity of the farm project, the Supporter has the right to decide whether his or her funds will be extended to other farm projects available on Growsel and open for Supporter.

Supporter Obligation

  1. Supporters’ funds are used to pay the costs related to the lease of land for farming, seedling, fertilizers, chemicals, tractor, direct labour costs, and the cost of supervision and administration in which all of these costs are already included in the fund of investments.

Transactional Fee

Supporters are fully responsible for the following fees and cost associated to supporting and constitutional taxes applicable.

  1. 1.9% + 100 Naira processing fee when making local support
  2. 3.9% + 1 Dollar processing when making support internationally
  3. Cash out process fee is applicable for more than two cash out request.

Social Underwriting

We use “social underwriting” over conventional financial underwriting to determine smallholder farmers’ creditworthiness and potentials.

Social Underwriting enables us to test individual farmers’ creditworthiness on the strength of their personal network, farming experience and character, which helps create a more complete picture of a farmer when considered alongside his/her capacity, potentials and financial history.

A community-based form of due diligence is also carried out when a farmer involves their own connections, friends and family in the farm-loan process, it increases their commitment to repaying their loans to Growsel.

Trustee Risk

Most of our farm-loans are administered by Trustees, who work hard to ensure smallholder farmers are screened, verified, monitor, trained and follow up for repayment. This is means farming inputs and tools are distributed through the Trustees working in the community to smallholder farmers.

The funds are also repaid by smallholder farmers through the Trustees after cultivation, harvest and sales. While working with our Trustees increases the likelihood that your farm-loan will be effectively used and repaid, new institutional risks are introduced. Even if a Growsel smallholder farmer are able to repay, Growsel supporters, could still lose principal due to Trustee issues such as:

Bankruptcy (the Trustee may go out of business and be unable to collect your farm-loan). Fraud (staff members at the Trustee may embezzle funds). Operational difficulties (the Trustee may have some cash-flow or other challenges that could prevent repayment). Before working with a Trustee Growsel performs due diligence on the organization to help assess this risk and get endorsement from top management, community and legal authorities.

Cross Border risk

When supporting internationally it is important to consider global market fluctuations and exchange rates risks particularly since developing countries where Growsel operates mainly are open to all kinds of risk: Economic Situation (a large currency devaluation – or the institution of exchange rates, local currency valuation, market access collections valueless for you).

Political Situation (Growsel farm-loans are mainly supported in developing countries across Africa where policies can change at anytime regarding funds repatriation or even the requirement that borrowers have to repay their farm-loans).

Natural disasters such as a flood, tsunami or drought may greatly reduce the likelihood of farm-loan repayment from certain countries or from specific regions in a country.

Growsel currently targets a country limit of no more than 15% of total farm-loans outstanding to help ensure a balanced portfolio. Individual supporters may want to consider the country and regional balance of their own portfolios as well. In certain instances, the Growsel imposed limit is lifted on a temporary basis particularly in Nigeria where we started operations from.

Currency risk

Growsel official working currency is the United State dollar, many farm-loans are disbursed to smallholder farmers in their local currency, thus adding an additional risk to supporters especially in times when their currency is weak. Please determine if currency exchange loss is possible for a farm-loan. For loans with currency risk possible, lenders bear the risk of loss if the farmer's local currency depreciates against the global currency.

Additionally, if your home currency is not the United State dollar, another layer of currency risk is added because farm-loans made through Growsel must be converted to United State dollar. Therefore, the initial conversion from your home currency to United State dollar will add foreign exchange risk.

Note: foreign exchange risk is not present if your local currency is the United State dollar.

Growsel Risks

The potential risk that Growsel, like any organization, may not continue its operations indefinitely. To better protect supporters’ funds in this circumstance and others, Growsel holds supporters’ funds separately from its own operational funds. When supporters have available funds in their Growsel Wallets (for example funds that have been repaid, or funds that have been deposited and not yet used to support a farm), these funds are held in bank accounts for the benefit of Growsel supporters. We believe that holding supporters’ funds separately from Growsel’s operational funds helps protect these funds from being subject to any claims of Growsel creditors - other than the Growsel supporters who have funds available in the Growsel wallets.

Farmer Repayment failure

All Growsel farmers are crop and livestock insurance insured. However, insurance does not cover poor yield and market fluctuations. In the event that the farmer’s harvest and sales did not meet the capital funded  and do not have enough means to cover the capital  due to unavoidable circumstances (low market price, weather effects, natural disaster et. al). Growsel will still provide the farmer with another round of funding for the next farm season to recover the amount lost from the previous farming season. The supporter will only receive the repayment when the amount has been fully recovered by the farmer at end of the second farming season.

Supporters would need to wait for crops to be harvested and sold within the same duration communicated at the initial support first phase.

Terms of Use

Please read these Terms of Use ("Terms", "Terms of Use") carefully before using the http://www.Growsel.com website (the "Service") operated by Growsel Microfunds Inc, ("us", "we", or "our").

Your access to and use of the Service is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Service.

By accessing or using the Service you agree to be bound by these terms. If you disagree with any part of the terms, then you may not access the Service.


If you wish to support any farm or project made available through the Service,  you may be asked to supply certain information relevant to your Investment including, without limitation, your credit card number, the expiration date of your credit card, your billing address, and your shipping information.

You represent and warrant that: (i) you have the legal right to use any credit card(s) or other payment method(s) in connection with any Investment; and that (ii) the information you supply to us is true, correct and complete.

By submitting such information, you grant us the right to provide the information to third parties for purposes of facilitating the completion of Purchases.


When you create an account with us, you must provide us with information that is accurate, complete, and current at all times. Failure to do so constitutes a breach of the Terms, which may result in immediate termination of your account on our Investment.

You are responsible for safeguarding the password that you use to access the Investment and for any activities or actions under your password, whether your password is with our Investment or a third-party service.

You agree not to disclose your password to any third party. You must notify us immediately upon becoming aware of any breach in security or unauthorized use of your account.

You may not use as a username the name of another person or entity or that is not lawfully available for use, a name or trade mark that is subject to any rights of another person or entity other than you without appropriate authorization, or a name that is otherwise offensive, vulgar or obscene.

Intellectual Property

The Service and its original content, features and functionality are and will remain the exclusive property of Growsel Microfunds Inc and its licensors. The Service is protected by copyright, trademark, and other laws of both the Nigeria and foreign countries. Our trademarks and trade dress may not be used in connection with any product or service without the prior written consent of Growsel Microfunds. All Rights reserved.

Links to Other Web Sites

Our Service may contain links to third party websites or services that are not owned or controlled by Growsel Microfunds Inc.

Growsel Microfunds Inc has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any third party web sites or services. You further acknowledge and agree that Growsel Microfunds Inc shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such web sites or services.

We highly advise you to read the terms and conditions and privacy policies of any third-party web sites or services that you visit.


We may terminate or suspend your account immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms of Conditions.

Upon termination, your right to use the Service will immediately cease. If you wish to terminate your account, you may simply discontinue using the Service.

Limitation of Liability

In no event shall Growsel Microfunds Inc, nor its directors, employees, partners, agents, suppliers, or affiliates, be liable for any indirect, incidental, special, consequential or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the Service; (ii) any conduct or content of any third party on the Service; (iii) any content obtained from the Service; and (iv) unauthorized access, use or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence) or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed of its essential purpose.


Your use of the Service is at your sole risk. The Service is provided on an "AS IS" and "AS AVAILABLE" basis. The Service is provided without warranties of any kind, whether express or implied, including, but not limited to, implied warranties of merchantability, fitness for a purpose, non-infringement or course of performance.

Growsel Microfunds Inc, its subsidiaries, affiliates, and its licensors do not warrant that a) the Service will function uninterrupted, secure or available at any particular time or location; b) any errors or defects will be corrected; c) the Service is free of viruses or other harmful components; or d) the results of using the Service will meet your requirements.

Governing Law

These Terms shall be governed and construed in accordance with the laws of The United State of America, without regard to its conflict of law provisions.

Our failure to enforce any right or provision of these Terms will not be considered a waiver of those rights. If any provision of these Terms is held to be invalid or unenforceable by a court, the remaining provisions of these Terms will remain in effect. These Terms constitute the entire agreement between us regarding our Service, and supersede and replace any prior agreements we might have between us regarding the Service.


We reserve the right, at our sole discretion, to modify or replace these Terms at any time. If a revision is material, we will try to provide at least 15day notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion.

By continuing to access or use our Service after those revisions become effective, you agree to be bound by the revised terms. If you do not agree to the new terms, please stop using the Service.

Contact Us

If you have any questions about these Terms, please contact us.

Privacy Policy

This Privacy Policy governs the way Growsel collects, uses, maintains and discloses information collected from users (each, a "User") of the http://www.Growsel.org website ("Site"). This privacy policy applies to the Site and all products and services offered by Growsel Microfunds Inc.

Personal identification information

We may collect personal identification information from Users in a variety of ways, including, but not limited to, when Users visit our site, register on the site, place an order, fill out a form, and in connection with other activities, services, features or resources we make available on our Site. Users may be asked for, as appropriate, name, email address, mailing address, phone number. Users may, however, visit our Site anonymously. We will collect personal identification information from Users only if they voluntarily submit such information to us. Users can always refuse to supply personally identification information, except that it may prevent them from engaging in certain Site related activities.

Non-personal identification information

We may collect non-personal identification information about Users whenever they interact with our Site. Non-personal identification information may include the browser name, the type of computer and technical information about Users means of connection to our Site, such as the operating system and the Internet service providers’ utilized and other similar information.

Web browser cookies

Our Site may use "cookies" to enhance User experience. User's web browser places cookies on their hard drive for record-keeping purposes and sometimes to track information about them. User may choose to set their web browser to refuse cookies, or to alert you when cookies are being sent. If they do so, note that some parts of the Site may not function properly.

How we use collected information

Growsel may collect and use Users personal information for the following purposes:

To run and operate our Site: We may need your information display content on the Site correctly.

To improve customer service: Information you provide helps us respond to your customer service requests and support needs more efficiently.

To personalize user experience: We may use information in the aggregate to understand how our Users as a group use the services and resources provided on our Site.

To improve our Site: We may use feedback you provide to improve our products and services.

To process payments: We may use the information Users provide about themselves when placing an order only to provide service to that order. We do not share this information with outside parties except to the extent necessary to provide the service.

To send periodic emails: We may use the email address to send User information and updates pertaining to their order. It may also be used to respond to their inquiries, questions, and/or other requests.

How we protect your information

We adopt appropriate data collection, storage and processing practices and security measures to protect against unauthorized access, alteration, disclosure or destruction of your personal information, username, password, transaction information and data stored on our Site.

Sharing your personal information

We do not sell, trade, or rent Users personal identification information to others. We may share generic aggregated demographic information not linked to any personal identification information regarding visitors and users with our business partners, trusted affiliates and advertisers for the purposes outlined above. We may use third party service providers to help us operate our business and the Site or administer activities on our behalf, such as sending out newsletters or surveys. We may share your information with these third parties for those limited purposes provided that you have given us your permission.

Electronic newsletters

If User decides to opt-in to our mailing list, they will receive emails that may include company news, updates, related product or service information, etc. We may use third party service providers to help us operate our business and the Site or administer activities on our behalf, such as sending out newsletters or surveys. We may share your information with these third parties for those limited purposes provided that you have given us your permission.

Third party websites

Users may find advertising or other content on our Site that link to the sites and services of our partners, suppliers, advertisers, sponsors, licensors and other third parties. We do not control the content or links that appear on these sites and are not responsible for the practices employed by websites linked to or from our Site. In addition, these sites or services, including their content and links, may be constantly changing. These sites and services may have their own privacy policies and customer service policies. Browsing and interaction on any other website, including websites which have a link to our Site, is subject to that website's own terms and policies.

Changes to this privacy policy

Growsel has the discretion to update this privacy policy at any time. When we do, we will post a notification on the main page of our Site. We encourage Users to frequently check this page for any changes to stay informed about how we are helping to protect the personal information we collect. You acknowledge and agree that it is your responsibility to review this privacy policy periodically and become aware of modifications.

Your acceptance of these terms

By using this Site, you signify your acceptance of this policy. If you do not agree to this policy, please do not use our Site. Your continued use of the Site following the posting of changes to this policy will be deemed your acceptance of those changes.

Contacting us

If you have any questions about this Privacy Policy, the practices of this site, or your dealings with this site, please contact us. 

This document was last updated on November 12, 2018.