Loan of Credit Business Loans are provided by Loan of Credit
This policy (together with our Agreements and any other documents referred to on it) sets out the basis on which any personal data we collect from you, or that you provide to us, will be processed by us. Please read the following carefully to understand our views and practices regarding your personal data and how we will treat it.
All Terms are dependent upon the final provider terms who upon approval accept to provide your Merchant Cash Advance (MCA).
Purpose and legal bases for processing
We will collect and use your personal data to:
- Process your application
- Make or cause searches to be made, at a credit reference agency, or agencies.
- To offer you other products which we make available.
- Exercise or defend our legal or contractual rights and/or comply with any legal requirements.
Information that you provide by visiting our website. This includes information provided at the time of registering with us (if applicable), or when providing feedback. We may also ask you for information when you report a problem with our site.
If you contact us, we may keep a record of that correspondence and information you disclose to us.
Details of your visits to our website may include, but not be limited to, traffic data, location data, weblogs and other communication data, whether this is required for our own billing purposes or otherwise and the resources that you access.
We use information held about you in the following ways:
- To ensure that content from our website is presented in the most effective manner for you and for your computer.
- To provide you with information, products or services that you request from us or which we feel may interest you, where you have consented to be contacted for such purposes.
- To carry out our obligations arising from any contracts entered into between you and us.
- To allow you to participate in interactive features of our service, when you choose to do so.
- To notify you about changes to our service.
We may also use your data, or permit selected third parties to use your data, to provide you with information about goods and services which may be of interest to you and we or they may contact you about these by post or telephone.
We will share your data with Third party processors that are required in order for our business to function. These data processors include but are not limited to:
- Consumer Review Partners –including Trustpilot
- Reward Partners
- Paid Search Platforms – Including Google AdWords’ and Analytics
- Email service providers
- Marketing Automations
- Social Media platforms
Customer Relationship Management Systems
If you are an existing customer, we may contact you by telephone, SMS, e-mail or by written material with information about goods and services similar to those which were the subject of a previous sale to you.
If you are a new customer, and where we permit selected third parties to use your data, we (or they) may contact you by electronic means or letter if you have consented to this.
Legitimate Interest Processing
The contacting of customers and relevant parties will be exercised on the following basis:
where the data subject has given express consent to the processing of the personal data for one or more specific purposes to either the Group or its affiliates.
a party who we believe has a legitimate interest in the communication. This will in all cases be because a party has previously utilised the services of the Group or indicated an interest in the financial products provided by the Group or may have a professional interest in the Group and the services it provides.
This includes (but not limited to) the customer abandoning an application online before submission, direct marketing, the previous provision of working capital, or where the customer has requested to be added to the communications and or newsletter campaign emails. This would have been either by opting in or by opting in to receive offers from the group, via third party collaborative competitions.
The channels for which a LIA (Legitimate Interest Assessment) has been conducted are as follows:
- Direct Marketing
- PPC Retargeting
- Email and SMS
- Social Media
- Customer Services
- Affiliate companies
To whom may the personal data be disclosed?
Other legal authorities if required by law.
You can ask for the information not to be used to offer you other products. We have a duty to keep the personal information which we hold about you up to date and accurate and secure from misuse or accidental loss or damage.
We may disclose your personal information to any member of our group, which means subsidiaries, or the holding company both as defined in section 1159 of the Companies Act 2006 (as may be amended or re-enacted from time to time), or to third parties: in the event that we sell or buy any business or assets, in which case we may disclose your personal data to the prospective seller or buyer of such business or assets; if we or substantially all of its assets are acquired by a third party, in which case personal data held by it about its customers will be one of the transferred assets; if we are under a duty to disclose or share your personal data in order to comply with any legal obligation and other agreements; or to protect the rights, property, or safety of the Group, subsidiaries, customers, or others.
This includes exchanging information with other companies and organisations including Credit Reference Agencies for the purposes of fraud protection and credit risk reduction.
Credit Reference Agencies and CRAIN
In order to process your application we will perform credit and identity checks on you with one or more credit reference (“CRA’s)”. When you apply for financial products from us we may also make periodic searches at CRA’s to manage your account.
To do this, we will supply your personal information to CRA’s and they will give us information about you. This will include information from your credit application and about your financial situation and financial history. CRA’s will supply to us both public (including the electoral register) and shared credit, financial situation and financial history information and fraud prevention information.
We will use this information to:
Assess creditworthiness and affordability
Verify accuracy of the data you have provided to us.
Prevent criminal activity; fraud and money laundering
Manage your account
Trace and recover debts and
Ensure any offers provided to you are appropriate to your circumstances
We will continue to exchange information about you with CRA’s while you have a relationship with the Group. If you do not repay in full and on time, we are at liberty to report the same to the CRA’s.
When CRA’s receive a search from us they will place a search footprint on your credit file that may be seen by other lenders.
If you are making a joint application or tell us that you have a spouse or financial associate, we will link your records together so you should make sure you discuss this with them, and share with them this information, before lodging the application, CRA’s will also link your records together and these links will remain on you such files until such time as you or your partner successfully files for a disassociation with the CRA’s to break that link.
The identities of the CRA’s, their role also as fraud prevention agencies, the data they hold, the ways in which they use and share personal information, data retention and your data protection rights with the CRA’s are explained in more detail -CRAIN (Credit Reference Agency Information Notice).
CRAIN is also accessible from each of the three CRA’s – clicking on any of these three links will also take you to the same CRAIN Document.
Third Country Transfers
Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our site; any transmission is at your own risk. Once we have received your information, we will use industry standard procedures and security features to try to prevent unauthorised access.
In the absence of the Group having any overriding lawful or contractual requirement to the contrary, personal data will be kept for a period of 7 years from the date of last contact.
Personal data rights
You will only be contacted by us if you have given us consent or have expressed an interest directly through the group or via a form capture or a third party.
We want you to have in control over your information and so we commit to giving you the ability to do the following:
- to access the data we hold on you
- to undertake any rectification and /or erasure of your personal data or processing concerning the data subject or to object to processing as well as the right to data portability.
- to opt out of/ unsubscribe from marketing communications. This can be done within any marketing email we sent to you or again by contacting us at
- exercise your right to be forgotten if you no longer wish for us to store any of your personal details. Unless we have an overriding legal or contractual right all applicable data will be deleted from our systems.
- you have the right to withdraw consent to processing at any time, without affecting the lawfulness of processing based on consent before its withdrawal.
- you also have the right to lodge a complaint with a supervisory authority.
Personal data requirement and the consequences of failing to provide it
If the personal data we require is not disclosed we will be unable to progress your application.
Declaration of automated processing
We do not use automated processing, all applications are reviewed and assessed by our team on their own respective merits.
IP addresses and cookies
We may collect information about your computer, including, where available, your IP address, operating system and browser type, for system administration and to report aggregate information to our advertisers. This is statistical data about our users’ browsing actions and patterns, and does not identify any individual. For the same reason, we may obtain information about your general internet usage by using a cookie file which is stored on the hard drive of your computer. Cookies contain information that is transferred to your computer’s hard drive. They help us to improve our site and to deliver a better and more personalised service. They enable us:
To estimate our audience size and usage pattern.
To store information about your preferences, and so allow us to customise our site according to your individual interests.
To speed up your searches.
To recognise you when you return to our site.