Effective date: 20th May 2023
Introduction
We understand the importance of your privacy and are committed to protecting it. This Privacy Policy explains how we collect, use, and store your personal and business information. By accessing or using our website and services, you consent to the collection and use of your information as described in this policy. Please read this Privacy Policy carefully, along with our Terms and Conditions and any other documents referred to, to understand our practices regarding your information.
Third-Party Websites
Our website and services may contain links to third-party websites that are not covered by this Privacy Policy. We encourage you to review the privacy statements of those websites and applications to understand their information practices. We are not responsible for the privacy practices or content of third-party websites.
Changes to the Privacy Policy
We have drafted this policy to be clear and concise. Please read it carefully to understand our policies regarding your information and how we treat it. This Privacy Policy may change from time to time, and your continued use of the website or services is deemed acceptance of such changes. Please check periodically for updates.
Contact Information
If you have any comments or questions about this Privacy Policy, please write to us at 20 Pool Street, Walsall, WS1 2EN.
Your Rights and Complaints
You have the right to make a complaint to the Information Commissioner’s Office (ICO), the UK supervisory authority for data protection issues. We appreciate the chance to address your concerns before you approach the ICO, so please contact us in the first instance. It is important to keep us informed if your personal data changes during your relationship with us.
Contents of this Privacy Policy
This Privacy Policy covers the following areas:
- Who we are (Merchant Funding Advance LTD)
- Our website (merchantfundingadvance.com)
- Why we collect your information
- How we collect and use your information
- Automated decision-making
- Consequences of failing to provide personal data
- How our funding partners use your personal and business data
- Disclosure of personal data to third parties
- Transfer of your information outside the European Union
- Marketing
- Accessing and updating your information
- Requesting the cessation of information processing
- Requesting the deletion of your information
- Requesting the cessation of marketing communications
- Retention of your information
- Security precautions
Who We Are
We are Merchant Funding Advance LTD, a business finance intermediary operating under the trading name Merchant Funding Advance. Our registered office address is 20 Pool Street, Walsall, WS1 2EN. A Merchant Cash Advance (also known as a Business Cash Advance) is currently not an FCA regulated product. Our company number is 14888634. We are registered on the Register of Data Controllers with the Information Commissioner’s Office number ZB552798.
Our Website
We take proactive measures to protect user privacy and ensure the necessary steps are taken to safeguard users’ information during their visit to our website. While we strive to provide a safe and secure browsing experience, users are advised that providing personal details is at their own risk. We use appropriate technical, contractual, and organizational security measures to protect data from unauthorized access or disclosure.
Why We Collect Your Information
To provide our services, we collect and process personal and business data about you and share it with third-party funders to assess your eligibility for funding. The collected data is necessary to provide you with the requested services and to comply with legal and regulatory requirements.
How We Collect and Use Your Information
We collect your information when you voluntarily provide it to us through our website or when you interact with us through email, phone, or other means. We may also collect information from third-party sources, such as credit reference agencies, in order to verify your identity and assess your creditworthiness.
The information we collect may include personal details (name, contact information, etc.), business information (company name, industry, etc.), financial information (income, expenses, etc.), and other relevant data necessary to assess your funding eligibility.
We use your information to:
– Process your funding application and assess your eligibility
– Communicate with you and provide customer support
– Facilitate the funding process with our partner funders
– Verify your identity and conduct credit checks (with your consent)
– Comply with legal and regulatory requirements
– Improve our website, services, and customer experience
– Carry out statistical analysis and research
Automated Decision-Making
We may use automated decision-making processes, including profiling, to assess your funding eligibility. These processes analyze your information and generate decisions based on predetermined criteria. If you disagree with the decision, you have the right to request a manual review.
Consequences of Failing to Provide Personal Data
Failure to provide the necessary personal and business data may result in our inability to provide you with our services or assess your funding eligibility.
How Our Funding Partners Use Your Data
We share your information with our partner funders to assess your eligibility and facilitate the funding process. These partners may use your data in accordance with their own privacy policies and legal obligations.
Disclosure of Personal Data to Third Parties
We may disclose your personal data to third parties in certain circumstances, including:
– Service providers who assist us in delivering our services
– Regulatory authorities and law enforcement agencies, as required by law
– Other parties with your consent or as permitted by law
Transfer of Your Information Outside the European Union
Your information may be transferred to and processed in countries outside the European Union (EU). We take appropriate measures to ensure that any international transfers comply with applicable data protection laws and provide adequate protection for your information.
Marketing
We may use your information to send you marketing communications about our services, promotions, and relevant offers. You have the right to opt out of receiving such communications at any time by following the unsubscribe instructions provided in the communication or by contacting us directly.
Accessing and Updating Your Information
You have the right to access and update your personal information held by us. If you wish to exercise this right or have any questions about your information, please contact us using the provided contact information.
Requesting the Cessation of Information Processing
You have the right to request the cessation of processing your personal data in certain circumstances. Please contact us if you wish to exercise this right.
Requesting the Deletion of Your Information
You have the right to request the deletion of your personal data in certain circumstances. Please contact us if you wish to exercise this right.
Requesting the Cessation of Marketing Communications
You have the right to request the cessation of receiving marketing communications from us. Please contact us if you wish to exercise this right.
Retention of Your Information
We retain your personal data for as long as necessary to fulfill the purposes for which it was collected, including legal and regulatory requirements. We take reasonable steps to ensure that your information is accurate, up-to-date, and securely stored.
Security Precautions
We take the security of your information seriously and implement appropriate technical and organizational measures to protect it from unauthorized access, disclosure, alteration, or destruction. However, no data transmission over the internet or electronic storage system can be guaranteed to be 100% secure.
Changes to This Privacy Policy
We may update this privacy policy from time to time to reflect changes in our practices or applicable laws. We encourage you to review the policy periodically for any updates.
