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These Sites are general audience websites and we do not knowingly collect personal, or other, information from children under the age of 18. If you are under the age of 18, please do not use our site. If we suspect that information provided to us is, in fact, personal information of an individual younger than 18 years of age, such information will be deleted, aggregated, or anonymized as soon as possible. Please notify us if you know of any individuals under the age of 18 using our services so we can take action to prevent access to our services.
1. Types of Information that is collected
We collect several types of information about you and your business when you access our Sites.
Our Sites collects information that identifies, relates to, describes, references, is reasonably capable of being associated with, or could reasonably be linked, directly or indirectly, with a particular consumer, household, or device(“Personal Information”). Personal information does not include:
To establish an account and access our Services, we’ll ask you to provide us with some important information about you. This information is either required by law (e.g. to verify your identity), necessary to provide the requested services (e.g. you will need to provide three (3) months of bank statements), or is relevant for certain specified purposes, described in greater detail below. As we add new features and Services, you may be asked to provide additional information.
Please note that we may not be able to serve you at all, or our Services may be degraded if you choose not to share certain information with us.
1.1 Information we collect directly from you:
We collect information directly from you about you.
The documents and information collected are securely stored and safeguarded. To fulfill our service obligations to you, you provide your permission to share any and all information provided to or obtained by Lendio on your behalf with lenders, with other businesses who may need this information to fulfill its services to Lendio, for Lendio’s business purposes, or to fulfill regulatory or other legal requirements. Under no circumstances will we disclose, transmit, or share in any way, these documents without your permission, unless being disclosed pursuant to legal and regulatory requirements which prohibit this notification.
1.2 Information we collect from you automatically
We collect information about your computer’s interactions with our Sites for a variety of purposes.
We receive and store certain types of information automatically, such as whenever you interact with the Sites or use the Services. This information helps us address customer support issues, improve the performance of our Sites and applications, provide you with a streamlined and personalized experience, and protect your account from fraud by detecting unauthorized access. Information collected automatically includes:
For example, we may automatically receive and record the following information on our server logs:
We may also use identifiers to recognize you when you access our Sites via an external link, such as a link appearing on a third-party site.
1.3 Information collected from third parties
We may obtain the following types of information about you from third party sources.
From time to time, we may obtain information about you from third party sources as required or permitted by applicable law. These sources may include:
1.4 Data Anonymization and Data Aggregation
We may use data we have anonymized and aggregated for any business purpose.
Lendio may use anonymized or aggregate customer data for any business purpose, including to better understand customer needs and behaviors, improve our products and services, conduct business intelligence and marketing, and detect security threats. We may perform our own analytics on anonymized data or enable analytics provided by third parties.
Types of data we may anonymize include, transaction data, click-stream data, performance metrics, and fraud indicators. Moreover, should you request that your information be deleted in accordance with the policies set forth more fully below, your information will be anonymized or aggregated, which complies with applicable law regarding deletion of personal information.
2. How information is collected
We obtain information about you during the application process, and also through your interactions with our Sites.
We obtain the categories of personal information listed below from the following sources:
During the Application Process: To process your initial application for funding, we may require your name, address, phone number, email address and other personal information. We may also require the name of your business, its address, its federal and state tax ID, the type of business, business location, average monthly sales, state of incorporation, name of Landlord. Such information is used primarily to process your order or as otherwise described herein. This is information you provide to us through our Sites.
Emails and telephone calls: We require an email address from you when you register for our services. We use your email for both transactional (e.g., application status, application updates, application confirmation, etc.) and promotional (e.g., newsletters, new product offerings, event notifications, special third-party offers) purposes. E-mail messages we send you may contain code that enables our database to track your usage of the e-mails, including whether the email was opened and what links (if any) were clicked. If you would rather not receive promotional emails from us, please see the section below labeled “Choice/Opt-Out”. We reserve the right to send you certain communications relating to the Lendio services, such as service announcements and administrative messages, without offering you the opportunity to opt out of receiving them. We may also contact you by telephone or text message (including to any wireless number you may provide to us) solely in connection with Lendio’s services. If you would rather not receive telephone calls or text messages from us, you may change or delete your number from your account preferences page(s), or ask to be removed from our contact list if you receive a call or text message from us. We fully comply with the requirements of the U.S. CAN-SPAM Act, the Telephone Sales Rule, and the Telephone Consumer Protection Act (TCPA).
Log files: Any time you visit any of our Sites, our servers automatically gather information from your browser (such as your IP addresses, browser type, Internet service provider (ISP), referring/exit pages, platform type, date/time stamp, and number of clicks) to analyze trends, administer the site, prevent fraud, track visitor movement in the aggregate, and gather broad demographic information. For example, we may log your IP address for system administration purposes. IP addresses are logged to track a user’s session. This gives us an idea of which parts of our site users are visiting. We do not share the log files externally.
Web Beacons: ”Web beacons” (also known as “clear gifs” and “pixel tags”) are small transparent graphic images that are often used in conjunction with cookies in order to further personalize our Sites for our users and to collect a limited set of information about our visitors. We may also use web beacons in email communications in order to understand the behavior of our customers. We do not link the web beacons to any personally identifiable information.
Other sources and third parties: We may obtain information about you from third parties. We combine this third-party data with information we already have about you to create tailored advertising and other relevant product recommendations. If you provide information about others, or if others give us your information, we will only use that information for the specific reason for which it was provided to us.Any information obtained from a third-party will be used to assist matching your business with various lenders.
The sites contain links to other websites that are maintained by third parties. These third parties are solely responsible for their own websites and we encourage you to reach out to such third parties for copies of and information regarding their security practices. We do not control, and are not responsible for, the privacy and security practices of these third parties.
3. How your information is used
We use your information for a variety of reasons, all of which support Lendio’s Sites and Services.
Provide Lendio services: We process your personal information to provide the Services to you. For example, when you wish to seek business financing from one of our financing partners, we require certain information such as your identification, contact information, and income information. We cannot provide you with Services without such information.
To provide Service communications: We send administrative or account-related information to you to keep you updated about our Services, inform you of relevant security issues or updates, or provide other transaction-related information. Without such communications, you may not be aware of important developments relating to your account that may affect how you can use our Services. You may not opt-out of receiving critical service communications, such as emails or mobile notifications sent for legal or security purposes;
To provide Customer service: We process your personal information when you contact us to resolve any questions, disputes, collect fees, or to troubleshoot problems. Without processing your personal information for such purposes, we cannot respond to your requests and ensure your uninterrupted use of the Services;
For research and development purposes: We process your personal information to better understand the way you use and interact with Lendio’s Services. In addition, we use such information to customize, measure, and improve Lendio’s Services and the content and layout of our applications, and to develop new services. Without such processing, we cannot ensure your continued enjoyment of our Services;
To enhance your experience: We process your personal information to provide a personalized experience, and implement the preferences you request. For example, you may choose to provide us with access to certain personal information stored by third parties. Without such processing, we may not be able to ensure your continued enjoyment of part or all of our Services;
To facilitate corporate acquisitions, mergers, or transactions: We may process any information regarding your account and use of our Services as is necessary in the context of corporate acquisitions, mergers, or other corporate transactions. You have the option of closing your account if you do not wish to have your personal information processed for such purposes.
To maintain legal and regulatory compliance: Most of our core Services are subject to laws and regulations requiring us to collect, use, and store your personal information in certain ways. For example, Lendio must identify and verify customers using our Services in order to comply with commercial lending laws across jurisdictions.
To enforce our terms in our user agreement and other agreements: Lendio handles sensitive information, such as your identification and financial data, so it is very important for us and our customers that we actively monitor, investigate, prevent, and mitigate any potentially prohibited or illegal activities, enforce our agreements with third parties, and/or prevent and detect violations of our posted user agreement or agreements for other Services;
To detect and prevent fraud: We process your personal information in order to help detect, prevent, and mitigate fraud and abuse of our services and to protect you against account compromise or information loss;
To ensure Quality control: We process your personal information for quality control and staff training to make sure we continue to provide you with accurate information. If we do not process personal information for quality control purposes, you may experience issues on the Services;
To ensure network and information security: We process your personal information in order to enhance security, monitor and verify identity or service access, combat spam or other malware or security risks and to comply with applicable security laws and regulations. The threat landscape on the internet is constantly evolving, which makes it more important than ever that we have accurate and up-to-date information about your use of our Services. Without processing your personal information, we may not be able to ensure the security of our Services;
4. Disclosure of information to third parties
We may disclose your personal information as required by law, to provide the Services, and for legitimate business purposes.
We may share your personal information by disclosing it to a third party for a business purpose. We only make these business purpose disclosures under written contracts that describe the purposes, require the recipient to keep the personal information confidential, and prohibit using the disclosed information for any purpose except performing the contract.
4.1. Disclosure By Law:
You acknowledge and agree that we may disclose information you provide if required to do so by law, at the request of a third party, or if we, in our sole discretion, believe that disclosure is reasonable to (1) comply with the law, requests or orders from law enforcement, or any legal process (whether or not such disclosure is required by applicable law) and (2) protect or defend Lendio´s, or a third party´s, rights or property.
4.2. Lenders and/or brokers.
By signing up for our services or submitting a request for a business loan product or service as offered on the sites, you signify your agreement to proceed and that you are consenting, acknowledging and agreeing to the disclosure of your information with lenders and/or brokers within our network. We will not perform a credit check without your authorization. Please be aware that the lenders, brokers, and/or other service providers with whom you are matched and with whom your information is shared may retain your information, even if you do not enter into an agreement for their products or services. Please contact each such party directly regarding their privacy and information policies. Also, if you enter into an agreement with a lender, broker, or other service provider through the Lendio service and make changes to the information you have provided to us, we may share the updated information with such lenders, brokers, and/or service providers.
4.3. Disclosure to Trusted Third Parties By Us:
4.4. Service Providers
With service providers under contract who help with parts of our business operations. Our contracts require these service providers to only use your information in connection with the services they perform for us, and prohibit them from selling your information to anyone else. Examples of the types of service providers we may share personal information with (other than those mentioned above) include:
4.5. Other Companies
With companies or other entities that we plan to merge with or be acquired by. You will receive prior notice of any change in applicable policies.
4.6. Third party advertising platforms and providers
We may share certain personal information with, or make certain personal information available to, third party advertising platforms and providers, such as Usage Data and Online Identifiers, when you visit certain of our Sites or certain portions of our Sites.
With our professional advisors who provide banking, legal, compliance, insurance, accounting, or other consulting services in order to complete third party financial, technical, compliance and legal audits of our operations or otherwise comply with our legal obligations.
We may disclose your personal information for any purpose with which you consent.
5. Updating, accessing, retaining, and deleting your information
You may choose to update, access, or delete your data; however, we may be legally required to retain your information to comply with the law.
You may update or access your contact information at any time by logging into your account and making any change or update. Any changes made will be updated immediately.
If you want to stop using your account you may deactivate it. When you deactivate an account, your information will not be sent to any further lenders, brokers, or other third parties, but the information will not be deleted. By deactivating your account you will have the ability to restore the account in its entirety.
You may delete your account from Lendio in certain circumstances upon submitting a request to Lendio to delete your account. In certain circumstances, Lendio is legally required to continue to maintain the information in your account. In these circumstances, Lendio will place your account into a deactivated status, will opt you out of all communications, and will disable your access to the account.
In the event that Lendio is able to comply with your request to delete your account, data you provide to Lendio will be retained by Lendio in a commercially reasonable manner and to comply with relevant lending laws. Once your account is deleted, Lendio will not share your information, and will only use your data for internal research and Lendio marketing. Data that is retained by Lendio will be retained for a commercially reasonable period of time as determined by Lendio in conformance with applicable law.
We store your personal information securely throughout the life of your Lendio Account. We will only retain your personal information for as long as necessary to fulfill the purposes for which we collected it, including for the purposes of satisfying any legal, accounting, or reporting obligations or to resolve disputes. While retention requirements vary by jurisdiction, information about our typical retention periods for different aspects of your personal information are described below.
Information collected via technical means such as cookies, web page counters and other analytics tools is kept for a period of up to one year from expiry of the cookie.
Opting out of receiving electronic communications from us. If you no longer wish to receive promotional email communications from us, please follow the instructions provided in Section 7 below.
Your California privacy rights. In addition to the above, if you are a California resident, please review our California Privacy Notice to learn more about the personal information we collect, use and disclose, as well as your privacy rights related to your personal information under the California Consumer Privacy Act (CCPA) and its amendment, the California Privacy Rights Act (CPRA), as well as other state laws.
We have taken steps to protect your information in a commercially reasonable manner.
In the event there is a data breach at Lendio, Lendio will notify you as soon as reasonably practicable. We will notify you that a breach occurred, and any additional information needed to fulfill our obligation with breach notification laws and regulations.
Do not share your account login and/or password with any other individual. Your account login and/or password is sensitive and your sharing of your account information may lead to additional exposure to your account.
7. Choice / Opt out of Marketing
You may choose to discontinue your use of our services.
You may choose to stop receiving our newsletter or marketing emails by following the unsubscribe instruction included in these emails or you can contact us at [email protected]
You can choose not to provide us with certain information, but this will likely result in the inability to use certain features of the site and to obtain the services and products you are seeking. As a general matter, do not post personal information on public forums. You are solely responsible for the posting of any personal information on public forums.
If, after signing up for our services, you decide you no longer wish to receive our services or future contact from lenders, brokers, or other third parties to which your information has been referred, you may cancel your account as discussed herein. Upon canceling your account, your information will no longer be sent to lenders, brokers, or other third parties. This does not guarantee that these lenders, brokers, or other third parties will cease contacting you or using your information. Please be sure to reach out to all lenders, brokers, and/or other third parties to ensure they cease contacting you.
Certain federal and state regulations require that we maintain a record of your information for certain periods of time. Due to these regulations, we may be unable to completely delete your information from our database until the time requirements of these regulations have expired.
8. California Privacy Notice
In addition to the rights provided for above, the information contained in this section applies solely to those individuals who reside in the State of California. We adopt this notice to comply with the California Consumer Privacy Act of 2018 and California Privacy Rights Act of 2020 (together, the “CCPA”) and any terms defined in the CCPA have the same meaning when used in this Policy.
Effective January 1, 2020, pursuant to the California Consumer Privacy Act of 2018 (“CCPA”), California residents have certain rights in relation to their personal information, subject to limited exceptions. Any terms defined in the CCPA have the same meaning when used in this California Privacy Notice.
8.1 Personal information we collect
Lendio may collect, or has collected, the following categories of personal information from California residents within the last twelve (12) months:
First and last name; email address; phone number; home address; social security number, driver’s license, passport, or other government issued identity document; password and account credentials; Employer Identification Number (or comparable number issued by a government); and other contact and personal identification information
Personal information categories listed in the California Civ Code § 1798.80(e)
First and last name; phone number; home address; signature; social security number, driver’s license, passport, or other government issued identity document; payment card information; bank account information
Internet or other electronic activity information
Cookie identifiers; pixel tags; embedded scripts; tags; IP address, device identifier, device type, operating system and Internet browser type, screen resolution, operating system name and version, device manufacturer and model, language, plug-ins, add-ons, and the language version of the Websites and Apps you are visiting; geolocation data, browsing history, time spent on the Platform, pages visited, links clicked, language preferences, patterns of use, and the pages that led or referred you to our Platform including individual Websites and Apps
Characteristics of protected classifications under California or federal law
Date of birth; demographic information (e.g., nationality, gender)
Payment histories; account balances and activity; products and services that you have purchased, obtained, or considered; utility bills; profit and loss statements; income statements; credit score and other credit report information; information about transactions you make on the Services; and/or other purchasing or consumer histories, tendencies, and preferences
Global Positioning System (“GPS”) data based on your IP address
Audio, electronic, or visual information
Photographs; recordings of calls to or from our customer service centers
Professional or employment-related information
Office location, job title, and/or description of role
Inferences about you
Inferences based on information about an individual to create a profile about a consumer reflecting the individual’s preferences, characteristics, psychological trends, predispositions, behavior, attitudes, intelligence, abilities, and aptitudes
Please note that because of the overlapping nature of certain of the categories of personal information identified above, which are required by state law, some of the personal information we collect may be reasonably classified under multiple categories.
Sensitive personal information. Certain of the personal information that we collect, as described above, may constitute “sensitive personal information” under California law, including:
Lendio will not retain any information we collect form you for longer than is reasonably necessary for the disclosed purpose of using such information. Our determination of precise retention periods will be based on (i) the length of time we have an ongoing relationship with you; (ii) whether there is a legal obligation to which we are subject; and (iii) whether retention is advisable in light of our legal position (such as in regard to applicable statutes of limitations, litigation or regulatory investigations).
8.2 Uses of personal information
The sensitive personal information that we collect as described in Section 10.1 above may be used for any of these purposes.
8.3 Sources of personal information
8.4 Disclosure of personal information
This includes disclosure of your personal information to service providers for a business purpose. When we disclose personal information for a business purpose, we enter a contract that describes the purpose and requires the recipient to both keep that personal information confidential and not to use it for any purpose except performing the contract. In the preceding twelve (12) months, we have disclosed each categories of personal information listed in Section 8(a), including the listed sensitive personal information, for a business purpose.
The CCPA requires us to identify the categories of personal information that we have “sold”/“shared” under the CCPA in the preceding twelve (12) months. In the last twelve (12) months, we have “sold”/”shared” the following categories of personal information to advertising partners for cross-context behavioral advertising purposes:
8.5 Your California privacy rights
The CCPA provides California residents with specific privacy rights regarding their personal information. This section describes your CCPA rights and explains how to exercise those rights.
If you are a California resident, you have the right to make the following requests under applicable California law in relation to your personal information, subject to certain exceptions:
How to submit a request.
You can exercise your rights by contacting us at [email protected], by contacting customer service at (855) 853-6346, or by filling out this online form so that we may consider your request.
Any request you submit to us is subject to an identification and residency verification process as permitted by the CCPA. We will not fulfill your request unless you have provided sufficient information that enables us to reasonably verify that you are the consumer about whom we collected the personal information on. In order to verify you, you must provide us with first name, last name, and email address.
Requests by authorized agents. If you are a California resident, you may designate an authorized agent to make a request to access or a request to delete on your behalf. We will respond to your authorized agent’s request if they submit proof that they are authorized to be able to act on your behalf, or submit evidence you have provided them with power of attorney pursuant to California Probate Code section 4000 to 4465. We may deny requests from authorized agents who do not submit proof that they have been authorized by you to act on their behalf, or are unable to verify their identity
Household data. We currently do not collect household data. If we receive a request submitted by all members of a household, we will individually respond to each request. We will not be able to comply with any request by a member of a household under the age of 18, as we do not collect personal information from any person under the age of 18.
Responses. We will respond to your request within forty-five (45) days after receipt of a Verifiable Consumer Request for a period covering twelve (12) months and for no more than twice in a twelve-month period. Lendio reserves the right to extend the response time by an additional forty-five (45) days when reasonably necessary and provided consumer notification of the extension is made within the first forty-five (45) days.
These rights are subject to various exclusions and exceptions under California law and other applicable laws. In addition, if we are unable to verify your identity to a degree of certainty as required by the CCPA through any reasonable method, we will state that we are unable to verify in a written response to you along with a reason as to why there is no reasonable method by which we can verify your identity.
Direct marketing by third parties. Lendio does not disclose personal information to third parties for their own direct marketing purposes. However, California residents additionally have the right to request information regarding such practices under California’s “Shine the Light” law. If you are a California resident and would like to inquire further, please email [email protected].
We will continue to update our business practices as direct regulatory guidance becomes available.
8.6 Notice of Right to Opt-Out
As detailed in Section 10.4 above, Lendio “sells”/“shares” personal information with third parties for purposes of cross-context behavioral advertising, as those terms are defined by the CCPA.
If you wish to opt-out of the “sale”/“sharing” of the limited personal information that is gathered when you visit our Sites and Services for purposes of cross-context behavioral advertising, by fill out this online form.
9. Special Notice to Vermont Residents
Vermont residents have access to additional limits on the sharing of their personal information subject to certain exceptions.
Vermont law places additional limits on sharing information about Vermont residents so long as they remain residents of Vermont. In accordance with Vermont law, we will not share information we collect about Vermont residents to companies outside of Lendio except: (1) As permitted by law; (2) To companies that perform marketing or other services on our behalf; (3) Name, contact and transaction and experience information to other financial institutions with which we have joint marketing agreements; or (4) With the authorization or consent of the Vermont resident. We also will not share non-transactional information about Vermont residents received from others within the Lendio family of companies except with the authorization or consent of the Vermont resident.
11. Contact Information
4100 Chapel Ridge Road, Suite 500 Lehi, Utah 84043 Telephone: (855) 853-6346 Email: [email protected]
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