Your privacy is important to us at Love Finance. We respect your privacy regarding any information we may collect from you across our website.
We ask that you read this Privacy Policy carefully as it contains important information regarding your
personal information.
This Privacy Policy describes the categories of personal information we will
process and the purposes for processing. Love Finance ensures that the collection and usage of your
personal information is done in accordance with the General Data Protection Regulation (GDPR) and
its requirements.
Love Finance Ltd is authorised and regulated by the Financial Conduct Authority (FCA) for the following types of credit-related activities under its FCA status: that are regulated under the Consumer Credit Act 1974 and by the Financial Services and Markets Act 2000. The company is registered in England with the Company Registration Number 08103018 and has its registered office at 36 Great Charles Queensway, Birmingham, B3 3JY
Love Finance Ltd is authorised for:
• Consumer credit lending: This includes the provision of credit to consumers.
• Credit broking: Acting as a broker to arrange credit for consumers with other lenders.
• Secondary credit broking: This may involve activities related to credit broking but as a secondary
aspect of the business.
• Providing credit information services: Offering services related to the provision of credit information, possibly including credit repair.
• Providing credit references: Supplying credit references to consumers or businesses.
These activities are regulated by the Financial Conduct Authority (FCA) to ensure that businesses engage in fair, transparent, and ethical practices when providing credit and related services to consumers.
This Privacy Policy has been updated on 9th April 2024.
1.1 Love Finance Ltd (“Love Finance”) takes your privacy seriously. In this Privacy Policy, you can
find out more information about your privacy rights and how Love Finance gathers, uses, and shares your
personal information. This will include personal information we collect directly from you, a third party, or
information we already hold about you.
1.2 Love Finance’s Data Protection Officer (“DPO”) can answer any queries you might have regarding your
personal information or if you wish to exercise any of the rights mentioned within this Privacy Policy.
Please contact our DPO by email at resolutions@lovefinance.co.uk, by telephone 0800 086 9404 or by post at Love Finance Ltd, 36 Great Charles Street, Birmingham, B3 3JY.
For more information about your rights please see Section 10.
1.3 This Privacy Policy contains up-to-date information about how Love Finance uses your personal information. This policy will update any previous information about how we process and use your personal
information.
2.1 When Love Finance collects and uses personal information about you, we become responsible for this information. When we do this, we are regulated by the GDPR. Under this regulation, Love Finance is known as a ‘data controller’ of that personal information.
2.2 By personal information, we mean information which can be used to identify you. For the purposes of this privacy policy, where we refer to “you” or “your,” we are referring to individuals whose information we process, this includes business owners and any key personnel from the party making the application or entering into an agreement.
3.1 Love Finance will obtain personal information:
• Directly from yourself, from e.g. order form/application documents/telephone/email;
• Through the course of an agreement, either directly from you, your association, or with a business
supplier/brokers who introduce you to us;
• From third-party organisations such as Credit Reference Agencies (‘CRAs’) and Fraud
Prevention Agencies (‘FPA’);
Love Finance may also obtain personal information from either monitoring or recording calls. We will record and monitor telephone calls for training, auditing, resolving queries, and to improve overall quality and service delivery. When we process your personal information, this will be either for our legitimate business interest, to comply with our legal obligations, to perform a contract with you, or where we have your consent, as set out in Section 6.
3.2 In the course of dealing with your application and any subsequent agreements you enter into, we may collect the following personal information:
• Your title, full name, contact details, email address, home and mobile telephone numbers;
• Your home address and address history, together with information about your occupier status, whether you are a tenant, live with parents, or are an owner-occupier;
• Your date of birth;
• Your occupation, job title, and employment details;
• Your personal identification i.e., a passport or a driving license;
• Your nationality, if this is necessary for us to comply with our legal and regulatory requirements;
• Your bank details;
• Your solvency and/or litigation history;
• Personal information obtained from third parties such as CRAs or FPAs and publicly available sources of information such as the electoral roll and court records of debt judgments and bankruptcies.
Those making an application should not share any other individual’s personal information with us except where they have shown them a copy of this privacy policy and obtained their confirmation that they know you will share it with us for the purposes described.
Depending on how you make your application, we may collect this information directly or indirectly.
4.1 In order for Love Finance to provide you with any products or services, we will need to process your name,
address, date of birth, and email address. In certain circumstances, we may be required to obtain additional personal information about you.
4.2 To consider an application and processing, we will use:
• Your contact details, these include your name, address, email address, telephone number, and date of birth.
• We process and use this personal information to comply with a legal obligation, to perform a contract, and for our own legitimate business interest.
4.3 To make a credit decision about you, we will use:
• Information you provide to us directly;
• Information we receive from third-party credit reference and fraud agencies;
• Information we obtained through the course of an agreement or previous agreements;
• Information we receive from third parties;
For this purpose of processing, Love Finance will share your personal information with CRAs and FPAs. The
information could be used for:
• CRAs will add a search footprint onto your credit file when we have conducted a credit search; this may be seen by other lenders.
If you are making a joint application, or tell us you have a spouse or financial associate, Love Finance and the CRAs or FPAs may link your records together. This means that each other’s personal information (including information the CRA or FPA already holds) will be taken into account with all future credit applications by either or both of you. These links will remain on your and their files until such time as you or your partner successfully files for a ‘disassociation’ with the CRAs to break that link. Therefore, you should make sure you discuss this with them and share this Privacy Policy before lodging an application.
• We might add to your CRA or FPA records details of your agreements, including any defaults or failure to keep to the terms of your agreement and when a payment is overdue.
• CRAs or FPAs could pass this personal information onto other companies who have no relation to us who conduct either credit or fraud prevention checks.
We process and use this personal information to comply with our legal obligations and for our own legitimate business interest.
The identities of the CRAs, their role also as fraud prevention agencies, the information they hold, the ways in which they use and share personal information, information retention periods, and your information protection rights with the CRAs are explained in more detail at http://www.experian.co.uk/crain/index.html
CRAIN is also accessible from each of the three CRAs – clicking on any of these three links will also take you to the same CRAIN document:
• Callcredit https://www.callcredit.co.uk/crain
• Equifax https://www.equifax.co.uk/privacy-hub/crain
• Experian http://www.experian.co.uk/crain/index.html
Download a list of the CRA’s and FPA’s Love Finance uses.
Your contact details, these include your name, address, email address, telephone number, date of birth,
and financial information and identification provided.
In considering your application, we or our funders, to whom we may introduce you, may conduct CRA or FPA checks. More information about CRAs and FPAs is listed in Section 4.3.
We process and use this personal information to comply with our legal obligations and for our own
legitimate business interest.
The personal information we have collected from you will be shared with fraud prevention agencies, who will use it to prevent fraud and money laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance, or employment. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found under www.cifas.org.uk/fpn
To fulfil or comply with our legal obligations, to prevent financial crime, including fraud and money laundering, we will use:
• Information you provide us directly, and
• Information we receive from third-party CRAs and FPAs.
This personal information will only be used where it is necessary for us to comply with a legal obligation or
for our own legitimate business interests. The personal information will include name, address, date of birth, and nationality.
We will provide personal information to and receive personal information from third parties such as CRAs
and FPAs where it is necessary to meet our legal obligations. This may also include the police and other
law enforcement and government agencies.
Your contact details and the payment details that you have provided to us. We may provide your
information to a third-party payment provider to process the payment.
We process and use this personal information for our own legitimate business interests.
To operate and administer our products and services, including dealing
with your complaints and fixing our mistakes, we will use:
Your contact details, which include your name, address, and date of birth.
We may share your information we use for this purpose with third parties who help us verify your contact details and equipment suppliers.
We process and use this personal information to comply with legal obligations, to perform a contract, and for our own legitimate business interest.
To insure our equipment, we will use:
Your contact details, which include your name, address, and date of birth.
Where you have not insured our equipment, Love Finance will process and use personal information to ensure the equipment on finance has been insured, and we may share this with insurers/insurance brokers.
To comply with our legal obligation, to support our vulnerable customers:
Information you give us that identifies a vulnerability, such as a health condition.
We will give information to and receive information about a vulnerability from third parties where it is necessary to meet our legal obligations, for example from the police or someone acting on your behalf.
Where we process medical personal information that you have provided to us, we will only hold this information once we have obtained your explicit consent to do so.
For debt recovery purposes, we will use:
Your contact details, which include your name, address, and date of birth.
Love Finance will give your personal information to and receive information from third parties where it is necessary to recover debts due by you to us; Third Parties may include debt recovery agents, CRAs, courts, bailiff services, Land Registry, professional advisors, and process servers.
To carry out audit, good governance, and analysis to develop and improve our
products and services, we will use:
Your contact details, which include your name, address, and date of birth, identification, and your email
address.
We process and use this personal information to comply with a legal obligation, contract, and for our own
legitimate business interest.
To market products and services to you, we will use:
We will market directly to you or where your employer has taken out a product using the contact
details either you or they have provided to us unless you have opted out.
We process and use this information for our own legitimate business interest. You have the right to object
to Love Finance’s direct marketing at any time.
To record telephone calls:
Love Finance may also obtain personal information from either monitoring or recording calls. We will record and monitor telephone calls for training, auditing, resolving queries and issues, and to improve overall quality and service delivery. When we process your personal information, this will be either to comply with a legal
obligation, to perform a contract, or for our own legitimate business interest as set out in Section 6.
Automated decision making
5.1 Sometimes we use your personal information in automated processes to make decisions about you, such as
credit scoring. We might also use automated processes to create a profile of you. We do this to help ensure
decisions are made accurately, fairly, and efficiently. Decisions Love Finance makes solely on automation do not
result in a rejected decision.
Credit scoring
Where you are a sole trader or a partner in a partnership, Love Finance will use automated decision making
using your personal information to conduct credit scoring – this evaluates your financial profile.
In order to undertake credit scoring, we use the information you have provided to us and information we
obtain from CRAs.
We use credit scoring to make decisions about you, such as whether we will enter into an agreement to
provide a product or service to you.
To find out information about your rights in relation to automated decision making, please see details found in
Section 10.
Our legal basis for processing your personal information
6.1 Love Finance will only use your personal information where it is permitted by laws that protect your privacy rights. When you apply for finance or enter into a finance/trading agreement with us, we will use your
personal information where:
• It is fair to use the personal information either in our interests or someone else’s interests, where there is no disadvantage to you – we refer to this as legitimate business interest,
• We need to use the information to perform a contract with you,
• We need to use the information to comply with our legal obligations; and
• We have your consent (if consent is needed).
Where we have your consent, you have the right to withdraw this. Love Finance will let you know how you
can do this at the time we gather your consent.
Sharing your personal information
7.1 Who we share your personal information with is dependent on the products or services we provide to you.
For the majority of our products and services, we will share your personal information with our funders,
brokers, suppliers, CRAs, and FPAs. For more information on how we use your personal information please see Section 4.
7.2 The personal information we have about you is usually gathered from you directly or through the course of an agreement, from the public domain, or from third parties. In some circumstances, we will transfer and obtain personal
information from third parties where it is necessary for purposes such as credit checking and fraud prevention
or for marketing purposes.
For more information on who we share information with, please click here for a list of the third parties we
share your personal information with and how to access their Privacy Policy.
Keeping your personal information secure
8.1 Love Finance has adopted appropriate security measures to ensure your personal information remains secure.
This prevents your personal information from being accidentally lost, used, or accessed in an unauthorised
way. We limit access to your personal information to those who have a genuine business need to know it.
Those processing your information will do so only in an authorised manner and are subject to a duty of
confidentiality.
8.2 We also have procedures in place to deal with any suspected information security breach. We will notify you and any applicable regulator of a suspected information security breach where we are legally required to do so.
Transferring information outside of the European Economic Area
9.1 In providing our products and services to you, we may transfer your personal information outside the European Economic Area (‘EEA’). Any transfer of your personal information will be in accordance with our legal obligations to ensure the safeguarding of your personal information during such transfer. If you would like more information or the details of the safeguards we have in place to protect your personal information, please contact our DPO using the details set out in Section 1.
Your rights
10.1 Under the GDPR, you have a number of rights in terms of how we use your personal information. You
have the right to object to how we use your personal information. You also have the right to access the
personal information we hold about you. You can also ask us to delete, restrict, or correct any inaccuracies in your information. You can also ask us to provide some of your information to a Third Party.
10.2 Right to object
You have the right to object to how we use your personal information. This means you may object at any time
to the processing of personal information for direct marketing and decisions being made by automated means in
addition to information being processed in certain other situations. If you would like to make an objection,
please contact our DPO with the reasons for your objection.
10.3 Right of access
This allows you access to your personal information and to certain other supplementary information that
this Privacy Policy is already designed to address. You can request access to a copy of your personal
information that we hold in addition to why we use it, how long we keep it for, who we share it with, and
whether it has been used for any automated decision making. This will be provided to you in an electronic
format from a secure portal or hard copy. We may ask for additional information in relation to your identity
for security reasons before providing any information.
10.4 Right to rectification
This gives you the right to request Love Finance to change or complete any incorrect or partial
information we hold about you.
10.5 Right to erasure
This gives you the right to ask for personal information that we hold about you to be erased where it is no
longer necessary for us to use or keep the information, you have withdrawn consent, or if we have no legal
basis to keep the information.
10.6 Right to portability
This gives you the right to transmit some of the personal information we hold about you to a third party. The
information can either be provided to you in a commonly used, machine-readable format or can be provided
to the third party directly. This only applies to personal information you have given to us directly, if it is for the
performance of a contract, based on consent, or when processing is done by automated means.
10.7 Right to restriction
You have the right to restrict how we process your personal information in circumstances where you
have exercised your right to object, rectification, or erasure.
If you would like to exercise any of your rights listed above, please contact our DPO using the details
listed in Section 1. Please provide us with the following:
• Enough information to identify you, including proof of identity and address (passport, driving licence, and a utility bill).
• Any information that your request relates to, including any account or reference numbers.
For further information on each of your rights, including the circumstances in which they apply, please see the Guidance from the UK Information Commissioner’s Office (ICO) on Individual’s rights under the General Data Protection Regulation.
If you would like to exercise any of these rights, please contact our DPO at the address listed in Section 1.
Personal information retention
11.1 The length of time we keep your personal information for is dependent on how the information is used and recorded. Love Finance will never retain your personal information for longer than the purposes we require it for or is necessary for us to retain it. Generally, this will be up to seven years after the end of the agreement or application in order to comply with our legal obligations.
If you would like more information about how long we keep your information, please contact our DPO
using the details listed in Section 1.
Your online activities
12.1 Love Finance uses cookies to track your use of our website www.lovefinance.co.uk.
More information about cookies
A cookie is a small file that is sent to your browser and stored on your computer’s hard disc and enables
us to track and understand your usage of our website and where we can make improvements to the information and services we provide to you. We use cookies solely to gather information on IP addresses,
administer the website, and track your movements on the website. For more information about blocking the
use of cookies, please refer to the guidance on your internet browser.
Please note you may not be able to use or access certain areas of our website if you block all cookie usage.
How to make a complaint
13.1 If you are unhappy with how we process and use your personal information, you can make a complaint
directly to us by contacting our DPO with the details listed in Section 1.
13.2 We hope that we can resolve any query or concern you raise with us directly. However, if we are unable to do so, the GDPR also gives you the right to lodge a complaint with a supervisory authority. The supervisory authority in the UK is the Information Commissioner’s Office (“ICO”) who may be contacted at https://ico.org.uk/concerns/
Appendix
Appendix 1: List of our Credit Reference and Fraud Prevention agencies.
Creditsafe Business Solutions Limited
Experian
CIFAS
Resistant AI
Appendix 2: List of all our funders
365
Armada
Bizcap
BLX
Capify
Close Brothers
Eastern Credit
Federal
Fleximize
Funding Circle
Iwoca
Lending Crowd
Little Business Loans
Love Finance OB
MaxCap
Momenta
Nucleus
Outfund
Playter
Shawbrook
Shire
Time
White Oak
YouLend
Brokers
Shire Professional Funding Ltd
Shire Securities Ltd t/as Shire Funding Solutions
Categories of Suppliers
Equipment Suppliers
