This document sets out the basis for our handling and processing of personal data.
SME Business Finance Ltd are both a principle funder i.e. lending our own money and a broker, whereby we arrange funding with other financial institutions in which case we would share data with them.
In order to process applications for finance we or our funding partners will need to perform credit and identity checks on you with one or more credit agencies (“CRAs”). The purpose of this is to provide us with details of your financial information and credit history (we are a responsible lender so have a duty to ensure that you can afford to repay a funding facility) as well as checking residency (Electoral Register) and for fraud prevention.
When CRAs receive a credit search request this will leave a footprint on your credit file which can be seen by other lenders.
We will either obtain written or verbal permission to undertake a credit search.
We will only ask for information that is relevant to our decision to lend you money which can include financial accounts and bank statements as well as proof of identity e.g. passport or driving licence and proof of residency e.g. copy of utility bill or council tax statements. We will generally keep such information for one year past the end of any finance agreement in case of any regulatory issues or disputes arising.
We operate a paperless office so information is stored securely off-site on password protected servers.
Our loan administrators and sales partners are responsible for processing data (processors) on behalf of the senior management or our lending partners whom are Controllers and therefore responsible for determining the purposes and means of processing personal data.
We operate a policy of a “soft opt-in” e.g. if we have already been dealing with you whether as an introducer, customer , supplier etc. then we assume that is OK for us to continue to make contact with you. If you want to stop any future correspondence then please send your details and email address to firstname.lastname@example.org
Part of our strategy for getting new customers is by way of digital marketing and we will approach businesses where we believe that there is a “legitimate interest” in receiving information from us about business funding only. If we send you marketing material that you feel is inappropriate and want to be removed from the database then either click the unsubscribe link or contact email@example.com
If there are any concerns or complaints with respect to out handling of your data please in the first instance contact firstname.lastname@example.org and it is our duty to resolve within 72 hours
If you need to contact the Information Commissioners Officer (ICO) their details are
Helpline on 0303 123 1113