Data Protection Disclosure/Privacy Notice
When we assist you in obtaining finance we will need to gather informaion about your personal circumstances, this may be collected direct from you or from your supplier. The personal data collected about you may include your name, address, date of birth, financial details, director’s information and details of your business. By providing your information you consent to us or any company associated with us processing, both manually and by electronic means.
We process your personal information in order to comply with our legal obligations and for our own legitimate business interest.
We will collect your personal information for the following purposes:
- to enable us to facilitate a finance facility for you with a third-party finance house, you can contact the finance house to obtain how they collect, store and administer your information. This information may be found on their website or by contacting them directly (see below);
- providing you with services, managing your accounts and complying with your instructions;
- verifying your identity
- making credit decisions, assess your creditworthiness where you have applied for credit or where we have agreed to provide credit to you and ensuring any offers provided to you are appropriate for your circumstances;
- anti money laundering, detecting and preventing fraud;
- complying with laws and regulations (including the rules of any regulatory authority) and public duties;
- we may monitor and/or record your telephone calls and electronic transactions in order to accurately carry out your instructions;
- assisting in improving our services and in your interests of security and crime prevention;
- from time to time we will provide you with information via mail or telephone about our products and services, similar products, promotions or for related marketing purposes in which we think you may be interested
Your information may be held electronically on a secure device and any physical copies will be held in your file in a secure location. Your personal data can only be accessed by an authorised member of staff who is trained in the proper handling of customer information. It is our duty to make these steps to protect your personal data against loss or theft, as well as authorised access, disclosure, copying, use or modification, regardless of the format it is held in.
the finance house may make their credit decision by using an automated decision making process, they may use this to automatically decide that:
· you are not approved for credit or for the amount of credit applied for;
· you pose a fraud, terrorism or money laundering risk; or
· you have deliberately hidden its identity
In addition the finance house will process your application for finance, your personal data will be shared with credit reference agencies (CRA) and they will record your information even if your application is not successful or your business application does not proceed.
If you are making a joint application with either a spouse or a financial associate,k your records will be linked together, so please make sure you discuss and share this information with them before lodging your application. CRAs will also link your records which will remain on your files until you or your partner files for a disassociation with the CRAs to break that link.
All data retain is kept in the UK. We have to hold all information for 6 years after an agreement has expired for auditing purposes. Data passed to a finance house may be stored in a country outside the European Economic Area. These details will be given to you upon a credit acceptance and you will also be informed of the retention policy the finance house adopts regarding your personal data.
The information provided may also contain sensitive personal data for the purposes of the Act, being information as to your physical or mental health or condition; the committing or alleged committing of any offence by you; any proceedings for an offence committed or alleged to have been committed by you; including the outcome or sentence in such proceedings.
Under the EU privacy laws you have the right to cease us processing your personal or sensitive personal data, rectifying, erasing, objecting to processing, restricting processing and data portability or contacting you for marketing purposes, please contact The Data Protection Officer on 0121-212-1114 or in writing to: The Data Protection Officer LBF, 2 Fournier House, 8 Tenby Street, Birmingham. B! 3AJ.
Below is a list of finance houses that we may use to obtain you a credit facility:
Arkle Finance Ltd. – Arkle Privacy Notice
Armada Asset Finance – Armada Asset Finance Privacy Policy
Asset Advantage – Asset Advantage Privacy Policy
Investec Asset Finance – Investec Asset Finance Privacy Notice
Macquarie – Macquarie Privacy Notice
Peac Finance – PEAC Finance Privacy Notice
Quantum Funding – Quantum Funding Privacy Policy
Siemens Financial Services- Siemens Financial Services Data Privacy Notice
Societe Generale – Societe Generale Privacy Policy
You find out the roles that the Credit Reference Agencies play in fraud prevention, the data they hold, the ways in which they use and share your personal information, their data retention periods and a more detailed explanation of your data protection rights can be found at any of the three CRA websites – all of the addreesses will take you to the same CRAIN document.
Callcredit – www.callcredit.co.uk/crain
Equifax – www.equifax.co.uk/crain
Experian – www.experian.co.uk/crain