Privacy Policy

Updated January 1, 2020

Overview

This Privacy Policy (“Policy”) applies to data collected by BFYNC LLC. or a subsidiary thereof (collectively, “BFNYC” “Us, a provider of business loan products and related services (collectively “Services”).

 BFNYC LLC US Privacy Policy

This Privacy Policy describes the choices available to you regarding our use of your personal information and how you can access and update such information.For purposes of this Privacy Policy, “Personal Information” means information that personally identifies you, including your contact information, IP address, and loan application information.

Information We May Collect

We collect the following information from you:

• Contact information such as name, business name, email address, mailing address, and phone number;
• Financial information such as bank statements, credit card statements, your average bank balance, personal and business credit history, payment behavior, bank account information, and tax ID number;
• Social security number;
• Unique identifiers such as user name and password, and IP address;
• Business information including company size, and business type, and
• Beneficial ownership information

In addition to collecting information via our Websites and Landing Pages, we may also obtain information and external data used by lenders to process applications and complete and manage transactions, e.g., from credit reporting agencies and other vendors. Once you are a BFNYC customer, we may reach out to you for, or otherwise obtain, information if you decide to renew your loan or as otherwise needed to provide the Service.

When required in the U.S., we will collect information on the beneficial owners of our business customers for purposes of verifying their identity only. The U.S. Government implemented the beneficial ownership regulation to help deter financial crimes. By complying, we are doing part in upholding the regulation to protect the financial system. Pursuant to our privacy policies and procedures, we will maintain beneficial ownership information in our system of record.

 Use of Information

We use the information we collect to:

• Compile, save, use and analyze your Personal Information in both a personally-identifiable form and as part of aggregated data;
• Operate, maintain, improve, and provide to you the Service and to conduct our business
• Verify your identity and conduct appropriate diligence;
• Process your business’ application and determine whether or not your business qualifies for one of our loan products;
• Communicate with you to send order confirmations, respond to customer service requests, send marketing communications, and send account update notifications;
• Conduct research and analyses to better understand our customers; and
• Produce data analytics and reports containing de-identified summaries of Personal Information and other information that is not Personal Information (such information, “General Information”) that we share with business partners. General Information may include Personal Information that has been aggregated and will not identify you.

Privacy and Sharing of Information

BFNYC will share your Personal Information with third parties only in the ways that are described in this Privacy Policy and as required by law. We do not sell your Personal Information to third parties.

We will provide your Personal Information, which may include application information, to our trusted business partners, third party lenders of BFNYC products, service providers, and subsidiaries and affiliates to provide financing and/or to provide services to help us with our business activities,such as offering customer service, processing credit checks or secure data storage, and other similar services. These companies are authorized to use your Personal Information only as necessary to provide these types of services to us. In addition, we may share your basic information (name, company name, phone number, email address and requested loan amount) with one of our business partners to market their services to you, provided, however, if you do not want us to share your Personal Information in these circumstances with these business partners, please contact us to opt out by email at info@bfnycap.com