Disclosures

1. Tenon is not a lender

Tenon, LLC is not a lender: it is a loan broker and platform that does not make loans, hold funds, or move money. Loans are made by member lenders directly to borrowers.

Tenon, LLC is a Utah limited liability company (entity 14561538-0160) at 135 W 900 N, Springville, UT 84663. It operates a members-only platform that profiles and scores applicant businesses, runs a closed deal room, prepares loan documents from templates, generates payment schedules, reconciles payments from read-only bank data, and sends statements and reminders. It never receives, holds or transmits loan proceeds or loan payments, and there is no escrow. The only money Tenon takes in is its own published fees.

2. Business-purpose loans, in Utah, to members only

Business-purpose loans only, to Utah businesses, from members who have completed onboarding. Nothing on this site is an offer to lend or a commitment to fund.

Every loan is for a business purpose, evidenced in the file and certified by the borrower in writing; Tenon does not arrange credit for personal, family or household use. Borrowers are businesses whose principal place of business is in Utah. Lenders are members who have completed onboarding — identity and business verification, a W-9, written representations about their experience and the business purpose of their lending, and Utah’s transaction count — before any borrower profile or loan term is shown to them.

3. Nothing on this website is an offer

Lending through Tenon is available only to members who complete onboarding and sign written representations. This website does not list, offer, or solicit participation in any specific loan.

There is no public listing of loans. Lending through Tenon is not an investment product and is not marketed as one; it is not peer-to-peer lending and it is not crowdfunding. A member lender makes a direct, secured commercial loan to a named Utah business under a promissory note the lender holds in its own name, on terms the lender reads in full before pledging. No returns are promised. Nothing on this website is an offer to sell or a solicitation to buy any security, and Tenon takes no success fee and no share of interest on the lender side.

4. What a lender can lose

Read this before asking about membership. A borrower can stop paying. Collateral can be worth less than the balance when it matters, or cost more to recover than it is worth. A personal guarantee is only as good as the guarantor’s ability to pay. Money you lend through Tenon is not insured by any government agency or anyone else, and Tenon does not guarantee repayment. You should expect to hold your note for its full term: Tenon provides no way to sell or transfer it. Enforcing a defaulted note takes time and money, and decisions about forbearance or enforcement are made by the lenders on that loan under their intercreditor agreement, not by Tenon. The Tenon Score, the credit box, the credit memo and every badge are information prepared for your own judgment; they are not a recommendation, not a prediction, and not advice. Lend only what your business can afford to have tied up for the full term, and to lose. Consult your own legal and tax advisors.

The Utah five-transaction rule. Utah’s Commercial Financing Registration and Disclosure Act treats a person who makes more than 5 commercial financing transactions in the state in a twelve-month period as a provider who must register with the Utah Department of Financial Institutions. Tenon tracks each member’s count on a rolling basis and shows it before every pledge; registering is the lender’s responsibility, and Tenon will help with the paperwork.

5. What a borrower signs

• A promissory note to each lender on the loan (up to 5), all on the same fixed rate, schedule and collateral.
• A personal guarantee from the owners.
• A security agreement and authorization for a UCC-1 financing statement on business assets.
• A written business-purpose certification, with the use of proceeds evidenced in the file.
• A written authorization for a consumer credit report on each guarantor, used under the Fair Credit Reporting Act.
• A read-only connection to the business bank account, or twelve months of statements, so cash flow is observed rather than estimated.

Every closing package includes a Utah commercial-financing disclosure statement: total funds provided, total you will pay back, total dollar cost, the payment amount and schedule, and prepayment terms. There is no prepayment penalty. A payment more than 5 days late carries a 5% late fee payable to the lender.

A file outside the credit box is declined, in writing, with the specific reason. Where a guarantor’s consumer report contributed to the decision, the guarantor receives the notice the Fair Credit Reporting Act requires. A decline on Tenon is a decision not to list; it is not a credit decision by any lender.

6. How Tenon is paid

Borrowers pay 1.5 points on the funded amount, once, at funding — nothing if the loan does not fund, and no application fee. After the borrower confirms the loan funds have arrived, Tenon invoices the fee, and the borrower pays it by ACH or wire; Tenon never debits the borrower's account. Lenders send 100% of the principal, and the fee is never deducted from the loan. Lenders pay a flat administration fee of $100 to $150 per note per year. The interest rate on every note (8.5% to 12%, fixed, by score tier) is paid by the borrower to the lender in full; Tenon takes no share of it. Tenon has no other compensation from any party to a loan and receives nothing from any vendor for referring you. Full detail on the pricing page.

7. Conflicts of interest

Dan Quarnberg, the founder and sole member of Tenon, LLC, is an attorney and works as an operator and advisor to a number of Utah businesses. Tenon does not list a loan where he, Blueprint Legal, Pyxis or any Middle Hill entity has any role on the borrower’s side: as counsel, officer, adviser or fractional executive, as a reference, or through an ownership relationship. There is no disclose-and-consent exception; such a request is not listed. Applicants are asked at intake, and Tenon runs its own check against the founder’s engagements before any file is listed. Tenon does not act as attorney for any borrower, guarantor or lender in connection with a loan, and nothing from Tenon — on this site, in the portal, or in a document it prepares — is legal advice to you. Each party should have its own counsel review the closing documents.

8. Tax reporting

Interest a lender receives is income to the lender. Tenon prepares a year-end interest statement for every note it administers and Form 1099-INT where one is required; the lender agreement sets out how reporting is handled under the direct-repayment structure. Nothing here is tax advice.

9. This website

Numbers presented as examples are illustrations computed from the published fee and rate band, not quotes. The privacy policy explains what this site and the portal collect. The terms of use govern your use of both.

Contact

Questions about any of this: notices@tenonloans.com
Tenon, LLC, 135 W 900 N, Springville, UT 84663