Funding Circle USA, Inc.

This Privacy Policy has been updated effective December 5, 2019

Borrower Privacy Policy

This privacy policy (this “Privacy Policy”) governs the collection, storage, and use of information and data collected by Funding Circle USA, Inc. or any of our U.S. affiliates (collectively, “Funding Circle,” “we”, “us”, or “our”), via our website at www.fundingcircle.com and its subdomains, by our mobile application, or by telephone, facsimile, email, or other means (collectively, and together with our website, “Funding Circle Services”).

We have prepared this Privacy Policy to explain how we collect, use, protect, and disclose information and data when you use our website or any other Funding Circle Services.

Please read this Privacy Policy carefully. By accessing and using this website or any other Funding Circle Services, you confirm that you have read and understand this Privacy Policy in its entirety. You understand and acknowledge that we reserve the right to change or amend this Privacy Policy at any time, which will be reflected by the “effective” date above. Please check this webpage regularly to stay informed of updates to this Privacy Policy. If any material changes are made to this Privacy Policy, advance notice of the changes will be posted in the first section of this webpage as required by applicable law. You understand that you will be deemed to have accepted the updated Privacy Policy if you continue to use the Services after the new Privacy Policy takes effect.

If you do not agree to this Privacy Policy in its entirety, you must refrain from using this website or any other Funding Circle Services.

Please also visit our Terms of Use which establish the rules, disclaimers, and limitations of liability governing your use of our website.

1. What information do we collect from you?

A. Information provided by you

Funding Circle collects information when you use Funding Circle Services and supplied by you or your designated agent during the application process, including but not limited to, the following information (as applicable):

Borrowers
Individual and business names
Mailing address
Business address
Phone and e-mail details, including passwords
Bank account information
Date of birth
Social security number, drivers’ license, or other government IDs
Income, assets, debt, and other personal and business data
Other information provided in correspondence with us, including by email, post facsimile, and telephone

B. Cookies and tracking technologies

When you use Funding Circle Services, we and our third-party service providers may utilize cookies and other similar technologies (such as web beacons or pixel tags) to capture and remember certain information. This individual and aggregate information helps us to improve your website experience, provide you with better tools, and operate our business in other ways described under the heading “Why do we collect this information” below. You have the ability to disable cookies in your browser settings; however, doing so may affect the functionality of certain features of our website.

Analytics. We may also use Google Analytics and other service providers to collect information regarding visitor behavior and visitor demographics on our Services, to provide tailored advertising, and to evaluate our marketing efforts. For more information about Google Analytics, please visit www.google.com/policies/privacy/partners/. You can opt out of Google’s collection and processing of data generated by your use of the Services by going to http://tools.google.com/dlpage/gaoptout. We do not process “do not track” (DNT) signals. For more information on our use of cookies, including instructions on how to opt out, please visit https://www.fundingcircle.com/about-us/cookie-policy.

You may stop or restrict the placement of tracking technologies on your device or remove them by adjusting your preferences as your browser or device permits. The online advertising industry also provides websites from which you may opt out of receiving targeted ads from data partners and other advertising partners that participate in self-regulatory programs. You can access these and learn more about targeted advertising and consumer choice and privacy, at www.networkadvertising.org/managing/opt_out.asp, http://www.youronlinechoices.eu/, https://youradchoices.ca/choices/, and www.aboutads.info/choices/. To separately make choices for mobile apps on a mobile device, you can download DAA’s AppChoices application from your device’s app store. Alternatively, for some devices you may use your device’s platform controls in your settings menu to exercise this choice.

Please note you must separately opt out in each browser and on each device. Advertisements on third party websites that contain the AdChoices link may have been directed to you based on information collected by advertising partners over time and across websites. These advertisements provide a mechanism to opt out of the advertising partners’ use of this information for interest-based advertising purposes.

C. Device specific information and tracking technologies

When you use Funding Circle Services, we and our third-party service providers may collect device specific information. This information, including but not limited to your internet protocol address, geographical location, browser type, operating system, MAC address, mobile carrier, mobile advertising and other unique identifiers, details about your browser, operating system or device, length of visit, and pages viewed, is saved automatically in log files. We use the information in these files to improve the functionality of our services and in other ways described under the heading “Why do we collect this information” below.

D. Information obtained from third parties

Information from Other Sources. We may obtain information about you from other sources, including through third party services and organizations to supplement information provided by you. For example, if you access our Services through a third-party application, such as an app store, a third-party login service, or a social networking site, we may collect information about you from that third-party application that you have made public via your privacy settings. Information we collect through these services may include your name, your user identification number, your user name, location, gender, birth date, email, profile picture, and your contacts stored in that service. This supplemental information allows us to verify information that you have provided to us and to enhance our ability to provide you with information about our business, products, and Services.

Information from financial partners to process your loan. In addition to collecting personal information supplied by you or your designated agent, we use unaffiliated third parties to gather data on borrowers and prospective borrowers, from financial institutions, consumer reporting agencies, and other information service providers for purposes described under the heading “Why do we collect this information” below. This information includes the categories of information described above, and also includes:

Government IDs
Criminal records
Household records
Employment information, such as visa permit number

By using Funding Circle Services and applying for a loan, you acknowledge that our unaffiliated, third-party providers will have the right, power, and authority to act on your behalf to access and transmit your personal and financial information from the relevant financial institution or consumer reporting agency, according to the terms of such third-party provider’s privacy policy.

2. Why do we collect this information?

Funding Circle may use information we collect about you to:

determine your eligibility for a loan;
obtain, upon your authorization, a credit report, references, and other information from credit bureaus or other third parties in connection with your loan application;
verify your identity;
detect and guard against potential fraud and identity theft;
manage and monitor your Funding Circle account and update your records;
create a marketplace loan listing on the Funding Circle website, which includes a Funding Circle credit grade that is based on your credit history and financial circumstances;
process your payments and other transactions;
develop, maintain and improve our website, products, and services;
detect security incidents and protect against malicious, deceptive, fraudulent or illegal activity;
improve customer acquisition through the use of advertising campaigns and other means, such as targeted marketing;
enforce our agreements;
carry out statistical analysis and market research and testing;
comply with our legal and regulatory obligations, and carry out regulatory checks;
make our website available to you and identify products and services you may be interested in; and/or
send or facilitate communications with you.

3. How and when is your information shared with other parties?

Except as provided below, we do not share your personal information with third parties. The categories of personal information that we share with our service providers are described in Section 1 above. We do not sell your personal information as the term is defined under applicable law. Your information, as collected by or provided to us, may be shared by us with other parties as provided below.

Your information may be shared:

With our affiliates, or any third party who acquires some or all of our business and/or assets in connection with an acquisition or merger.
In order to operate our marketplace lending platform, including:

To make available a loan listing to prospective investors.
To make available additional loan and/or borrower information to investors who invest in a loan.
To otherwise make available to prospective investors who are contractually required to implement safeguards to protect and maintain the confidentiality of the information we share.

In order to provide, operate and improve Funding Circle Services, including, but not limited to:

With service providers who assist us in operating our website, providing market research and marketing our products and services, or servicing our loans, so long as the service provider contractually agrees to only use the data on our behalf.
With your representative(s) to the extent such a representative assists or assisted you with the loan application process. Such information may include, among others, information about your loan performance.

In order to enable Funding Circle to carry out our services and conduct our businesses, such as marketing, lending, loan servicing, and collections activities, including, but not limited to:

With credit bureaus, consumer reporting agencies, financial institutions, collections agencies, and fraud prevention agencies in order to, among other things, perform various checks, locate borrowers, or recover debts.
With business credit bureaus to report loan performance.

In order to provide other services to borrowers or prospective borrowers, including, but not limited to:

With a borrower’s franchisor (if applicable).

For legal reasons, including, but not limited to:

When required by applicable law.
With law enforcement or other government bodies, such as to comply with subpoenas, bankruptcy proceedings, or similar legal processes or for the purposes of limiting fraud.
When we believe in good faith that sharing such information is necessary to enforce our site policies or any loan agreement, protect our or other’s rights, property, or safety, and/or to comply with a judicial proceeding, court order, or legal process.

In de-indentified form, with third parties for marketing, advertising, research, or other business purposes.

We may continue to process your information as described in this Privacy Policy after your use of Funding Circle Services has ended, for example to protect our rights as described above. For example, if you opt in to the “Funding Circle Marketplace” program, we will share your name, email address, phone number, loan request information (including but not limited to loan amount requested and use of proceeds), and business information (including but not limited to company name and the number of years in business) with unaffiliated third parties who are in the business of arranging or providing financing. We may receive financial compensation from these third parties in connection with the sharing of this information.

International Data Transfers. You agree that all information processed by us may be transferred, processed, and stored anywhere in the world, including but not limited to, the United States or other countries, which may have data protection laws that are different from the laws where you live. We have taken appropriate safeguards to require that your personal information will remain protected and require our third-party service providers and partners to have appropriate safeguards as well. Further details can be provided upon request.

4. What will be displayed when a borrower’s loan lists on the Funding Circle website?

When a loan is approved, we will make available certain information about the loan and the borrower to prospective investors. This information may include business information, business Financials, loan terms, and other loan information, as shown below.

Business Information	Loan Information
Business Name	Business Bankruptcy
“Friendly” Listing Name	Date of Business Bankruptcy
Years of Operation	Debt Coverage Ratio
Industry	Asset Coverage Ratio
NAICS Code	Number of Guarantors
Business Location–City & State	Credit Score of Guarantor
Business activity	Part of Franchise Network
State of Incorporation	Prior Loan(s) with FC
Number of Employees	Amorization Table

Business Financials	Loan Terms
Income Statement	Loan Principal Amount
Balance Sheet	Interest Rate
	Term

5. Storage and security

While we take appropriate physical, technical and organizational measures to safeguard the personal information that you provide to us, unfortunately no system is 100% secure. To the fullest extent permitted by applicable law, we accept no liability if communications are unintentionally disclosed, intercepted by third parties, incorrectly delivered, or fail to deliver.

The personally identifiable information that you provide and that we collect will be stored and maintained by Funding Circle for so long as we, in our sole discretion, believe is necessary or appropriate (a) to carry out the purpose(s) for which such information was collected, in accordance with this Privacy Policy, or (b) to comply with applicable laws, contracts or other rules or regulations.

6. Your rights

In accordance with applicable law, you may have the right, subject to verification of your identity:

To update and correct any out-of-date or incorrect personal information that we hold about you free of charge; and
To opt out of any marketing communications that we or any service provider to whom we have disclosed your personal information may send you.
To request deletion of your personal information, subject to certain exceptions prescribed by law.
To request restriction of or object to processing of your personal information, including the right to opt in or opt out of the sale of your Personal Data to third parties, if applicable, where such requests are permitted by law.

If you wish to exercise any of the above rights, please contact us using the details specified under the heading “Contacting us” below. Note that we will require you to take steps to verify your identity before you may exercise the rights listed above.

Please note that the Fair Credit Report Act (FCRA) requires each of the nationwide credit reporting agencies—Equifax, Experian, and TransUnion—to provide you with a free copy of your credit report, at your request, once every 12 months. For more information, visit: http://www.ftc.gov.

7. Links to other sites

Our website may offer links to sites of other companies and associations. While we monitor the quality of content provided on these sites, these external sites are not subject to this Privacy Policy and we have no control over their content. Please carefully review the policies of these sites before providing any personal information.

8. Children’s Online Privacy Protection Act

We comply with the requirements of the Children’s Online Privacy Protection Act. We do not knowingly collect personal information from children under the age of the 13. Our website, products, and services are all directed to people who are at least 13 years of age or older.

If you learn that your child has provided us with personal information without your consent, you may contact us as set forth below. If we learn that we have collected any personal information in violation of applicable law, we will promptly take steps to delete such information and terminate the child’s account.

9. Supervisory authority

If you are located in the European Economic Area or the UK, you have the right to lodge a complaint with a supervisory authority if you believe our processing of your personal information violates applicable law.

10. Contacting us

If you have any questions regarding this Privacy Policy, you may contact us using the information below.

Address:

Funding Circle USA, Inc.
Attn: Data Protection Officer

85 2nd Street, Floor 4
San Francisco, CA 94105
USA

Telephone: 877-226-9058 (Mon – Fri, 7:30am – 4:30pm PT)
Email: us_data_request@fundingcircle.com