February 1, 2017
1. INFORMATION WE COLLECT
Information You Provide To Us When Creating an Account or Participating in a Loan. . In order to create an account on LoanWell or participate in a loan ("Loan"), we need to collect and process some information. Depending on your use of the Services, you will need to provide LoanWell or our third party payment platform(s) with personal information such as:
your name, email address, mobile phone number and profile photograph (optional).
if you are a borrower and create a Loan, you will be asked to provide a Loan title, the amount you wish to borrow, the interest rate offered to lenders, the time period you have to repay the loan, a photo (photo is optional) and other personal information.
if you are lender, you will also be asked to provide the amount you wish to lend and other personal information.
if you elect to use our auto-draft services, you will be asked to provide financial information (online banking credentials, bank account and routing numbers), date of birth, and social security number
account login information (including a User ID and password) assigned by our payment platform(s) and password.
We may display personal testimonials of satisfied users on our Services. With your consent, we may post your testimonial along with your name. If you wish to update or delete your testimonial, go to Section 7, Contacting Us.
Account Access Verification. When you login to your account we may verify your identity by using your email address and/or mobile phone number, which may be accessed through your linked account with our payment platform(s). You are entirely responsible for maintaining the security of your verification credentials. You agree to notify LoanWell immediately if you suspect any unauthorized use of your account or any other breach of security within the Service. You are solely responsible for any and all use of your account, and LoanWell will not be liable for your losses caused by any unauthorized use of your account.
Information You Post on Forums. The Services may offer you the option to communicate with other account holders. Any information or content you post when participating in online chat rooms, blogs, message boards, or in similar interactive forums ("Forums") on the Services or in social networks, plug ins or other applications becomes public information, depending upon your privacy settings, and is subject to redistribution by us or third parties. There is no expectation of privacy when posting content or otherwise participating in Forums and we have no control over how those users may use the information you make public. Therefore, you should exercise caution and discretion when deciding to disclose your personal information in a submission or posting on a Forum.
Mobile/Location Information. We may collect additional information from you if you access Services through a mobile device, for example your unique device identifier, IP address, language, locale, device's operating system, location or geo-location. When you use our Services we may request your permission to collect your location information. Please be advised some features will not be available if you choose not to provide your location data to us. However, the degree to which your location can be identified depends on the device you are using (e.g. laptop, smartphone, tablet) and how you are connected to the Internet (e.g. via cable broadband connection, Wi-Fi, etc.). If you enable location services for our Services, we may collect location data periodically as you use or leave open our Services. We may also use this data internally or in conjunction with our third-party service providers or platforms to customize your experience and provide offers that may be relevant to you. Depending on the platform you use to access our Services (e.g., Apple, iOS, Google, Android, Windows, etc.), you may be able to control from within the settings on your wireless device or the Services whether location data is collected.
Information about Others/Inviting Friends. Our Services provide the ability for you to invite people to join the Services via email, SMS or through social media platforms. Inviting friends is always optional. Please be aware that when you use any send-to-a-friend functionality on the Services, your e-mail, mobile phone number and address may be included in the communication sent to your friend so select your friends carefully.
2. INFORMATION COLLECTED THROUGH TRACKING TECHNOLOGIES
Our goal is to collect and use only that information that we think is required for our legitimate business interests, to better understand your interests, and to improve your experience of using the Services.
Operationally Necessary. We may use tracking technologies required for system administration, to prevent fraudulent activity or improve security.
Functionality-Related. We may use tracking technologies to tell us, for example, whether you have visited the Services before or if you are a new visitor and to help us identify the features in which you may have the greatest interest.
Keep in mind that certain features of our Services are available only through the use of tracking technologies and disabling them may impact on the functionality of our Services.
If you would like more information about interest based advertising and your choices not to accept cookies used to track your activities go to www.youradchoices.com or you can go to www.networkadvertising.org. If you would like to learn more about how interest-based information is collected and to know your choices about not having behavioral tracking information used in this manner, you can go to www.aboutads.info
Browser Do Not Track Signals. Some third-party browsers provide "do not track," machine-readable signals for websites and online services that are automatically applied by default. Please note that we do not currently respond to browsers' do not track requests. We have no control over the information sent from your browser to third parties such as ad networks and analytics companies. We recommend that you check your browser settings to prevent the disclosure of information you would not like to share.
3. HOW WE USE AND SHARE YOUR INFORMATION
What is Public and Private Information.
THERE IS NO EXPECTATION OF PRIVACY WITH REGARD TO ANY CAMPAIGN PAGE INFORMATION PROVIDED BY BORROWERS OR LENDERS. Loan information is posted publicly on the Campaign page on the Services and is accessible by anyone who has been sent an invite from the borrower. The emails sent by the borrower to possible lenders are public and can be shared with whomever the recipient deems fit. Only those that have been invited by the borrower can access to the unique Loan URL and Campaign page to have access to the information posted. Loan URLs are protected and will not provide access to loan information to member and non-members of the Service that have not been invited by the borrower. When you join as a borrower or a lender for a particular Loan ("Loan Group"), certain information appears on the Service and is available for the Borrower or Lender see including without limitation:
the full name of the borrower and lender
the amount to be borrowed
the amount of lender's loan
interest rate offered by borrower
time period for repayment of the loan
the loan status (either funding or repayment phase)
the amount repaid by borrower
the balance left on the loan
the borrower's Loan photo (optional)
the Loan title
lender's profile photo, if any
comments you post on the Services
We cannot guarantee the privacy or security of your information once you provide it in connection with a Loan.
any User ID and payment history provided by our payment platform(s)
your access credentials assigned by the payment platform(s)
your IP address
your email address
your phone number
any requests for information or support, or to report a problem
Use of Information by Us. We may use your private or personal information that we collect about you:
to use or to share with our service providers or payment platform(s) to fulfill your requests or transactions and respond to your requests
to provide customer service, resolve disputes, problems with your account or our Services or administer a sweepstakes or promotion
to improve our Services and to customize your experience and the content and advertising
to give you information about your account, transactions or our Services
for ad servers or networks
for internal business purposes
to send you transactional messages related to certain features or your activity on the Services
for purposes disclosed at the time you provide your information
We may combine the information collected from you with other information collected from the devices you use to access our Services, such as your operating system type or mobile device model, browser type, domain, and other system settings, as well as the language your system uses and the timezone of your device. We may also collect information about the sites you visited before you came to our Services and the sites you visit after you leave our Services, if this information is supplied to us by your browser
Use of Information shared with our Third Party Payment Platform(s) or Third Party Providers. You agree to allow us to share your information with our third party payment platform(s) and third party service providers and our third party payment platform(s) and providers may share that information with us. We may also share your information with third party service providers and payment platform(s) who help us operate our Services and assist us in fraud investigations, payment collection and other business operations. In addition, our Services may contain links, widgets, advertising, etc. linking to third-party websites, applications or products.
Interacting with Other Users. As part of the borrowing and lending process, we may facilitate the sharing of information between members of the Loan Group involved in the transaction. If this functionality is available, you may obtain another member's name, email address, payment information, payoff information, interest rate charged and/or other personal information. You will have a limited license to use this information only for Loan related communications or for us to facilitate transactions. We do not grant you a license to use the information for unsolicited commercial messages or unauthorized transactions. Without express consent from that person, you must not add any Loan Group or other account holder to your email or physical mailing list or store or misuse any payment information.
Analyze and Aggregate Information. We use aggregate information about our users and other non-personal information to analyze the Services and user behavior and to prepare aggregated reports, which we share with third parties.
Communicate With You and Third Parties at Your Request. We use your information to contact you to send you payment confirmations and other information to maintain your account, to comply with your stated communication preferences, to provide other Services requested by you, as described at the time when we collect the information from you, or to contact you for purposes authorized by law.
Push Notifications. Our application Services may include a function that allows us to use push notifications to send you updates, communications, and other messages about the Service. To opt out of getting these push notifications or other messages, you must turn off the push notification function within your device settings. We do not send promotional messages about other products or services through these push notifications.
Sale or Transfer of Business or Assets. If LoanWell or an affiliated company or brand or business is sold or disposed of as a going concern, whether by merger, sale of assets or otherwise, or in the event of an insolvency, bankruptcy or receivership, personal information of our users may be one of the assets sold or merged in connection with that transaction. Information about our users may also need to be disclosed in connection with a commercial transaction where we or any one of our businesses are seeking financing, investment, support or funding.
4. ACCESSING AND CHANGING YOUR PERSONAL INFORMATION
Updating/Changing Your Account Information. You should promptly update all your accounts if any information changes or becomes inaccurate. You can change or update your account information by emailing us at firstname.lastname@example.org.
Updating/Deleting Information on the Loan Agreement. Once the Loan agreement is signed by the borrower neither the lender nor the borrower will be able to update or delete information.
Assistance. If for any reason you are concerned that the personal information you provided to us is not correct and you cannot change it by accessing your account, contact us as set forth in Section 7, Contacting Us.
5. CHOICE AND OPT OUTS
Information Sharing with Others. Information that you disclose while participating in the Services may be public and subject to redistribution by us and any third party that reviews the Loan. You can remove the connection between a social media network and your account by accessing the settings in the social media network. We have no control over how users may use shared information. Therefore, you should exercise caution and discretion when deciding to invite potential lenders to your Campaign page and disclosing your personal information in connection with a Loan. Your choices regarding restricting access to your information on a Campaign page is limited, particularly after a loan is fully funded. If you do not want your information shared, you must cancel or deactivate your account.
Opting Out of Cookies. If you prefer to prevent third parties from setting and accessing cookies on your computer, you may set your browser to block cookies.
Administrative Messages. You may not opt out of administrative messages (for example emails, push notifications about your transactions or policy changes) for your registered account. Examples of administrative messages include, but are not limited to: a welcome/confirmation email when you register your account, a notification that an agreement has been signed; or correspondence with our third party providers or support team. These messages are not promotional in nature. You may not opt-out of receiving administrative messages from us, unless you close your account.
Opting Out of Promotional Messages. We do not sell or rent your personal information to third parties for marketing purpose without your explicit consent. We may choose to send promotional messages. If you choose not to receive our email promotional communications you may click the unsubscribe link in the footer of any e-mail or newsletter. You may also e-mail us at email@example.com. It may take up to 10 days for us to process an opt-out request.
Timing and Third Parties. We will endeavor to comply with your requests as soon as reasonably possible, but please note that changes requested of us may not be effective immediately. Unless required by law, we are not responsible for informing third parties with whom we have already shared your information of any changes requested pursuant to this section, or for removing information from or causing information to be removed from the databases or records of such entities.
6. IMPORTANT DISCLOSURES
Permission to Contact You. When you provide us with information in connection with a particular transaction or otherwise create an account for our Services or provide your contact information, including your mobile phone number and email address, you agree that this action constitutes a transaction or inquiry establishing a business relationship with us. You expressly consent to our communicating with you future information about our Services using the information you provided to us. You also attest that you have the legal authority over any contact information you provide to us and can provide us with the authorization to contact you. This means we may contact you in person or by recorded message, by telephone, by e-mail, SMS, or any other means of communication that your computer, wireless or other telecommunications device may be capable of receiving, in accordance with law.
Security. We implement security measures to protect against the loss, misuse and alteration of information under our control such as "Secure Socket Layers" or SSL to protect your information. SSL is encryption technology that helps safeguard your personally identifiable information against misuse by unauthorized individuals. However, despite our efforts, no system can completely guarantee that there will never be unauthorized access to your personal information, and your use of our Services indicates that you are willing to assume this risk.
Your California Privacy Rights. California Civil Code Section 1798.83, known as the "Shine the Light" law, permits our account holders who are California residents to request and obtain from us a list of what personal information (if any) we disclosed to third parties for direct marketing purposes in the preceding calendar year and the names and addresses of those third parties. Requests may be made only once a year and are free of charge. To make such a request, please contact us at firstname.lastname@example.org. For all requests, you must put the statement "Your California Privacy Rights" in the body of your request, as well as your name, street address, city, state and zip code. In the body of your request, please provide enough information for us to determine if this applies to you. You need to attest to the fact that you are a California resident and provide a current California address for our response. Please note that we will not accept requests via the telephone, mail or by facsimile, and we are not responsible for notices that are not labeled or sent properly or that do not have complete information.
Jurisdiction and Cross-Border Issues. Our Services are available in the United States and intended for use by account holders located in the United States only. We do not represent or warrant that our Services are appropriate or available for use in any particular jurisdiction. Those who choose to access the Services do so on their own initiative and at their own risk, and are responsible for complying with all local laws, rules and regulations. We may limit access to our Services, in whole or in part, to any person, geographic area or jurisdiction we choose, at any time and in our sole discretion. By using our Services and submitting any personal information, you consent to the transfer of personal information to other countries, which may provide a level of data security different from your country of residence. You are also consenting to the application of United States law in all matters concerning the Services.
Children's Privacy. The Services are directed to a general audience and we restrict the use of our Services to individuals age 18 and above (or the age of majority, as determined by the laws of the state in which you reside, whichever is older). We do not knowingly collect personal information from individuals under 18 years of age, and if we obtain actual knowledge that a user is under 18 years of age, we will take steps to block that child from accessing our Services and/or remove that user's personal information from our systems. If you become aware that anyone under 18 has provided us with Personal Information, please contact us as set forth in Section 7, "Contacting Us".
7. CONTACTING US
THIRD PARTY PROVIDERS OF ANALYTICS TOOLS
This is a nonexclusive list of third parties we have hired to provide us information, reports and analysis about the usage and browsing patterns of users of the Services, their privacy policies, and, if applicable, opt-out options to enable you to opt out of their respective programs.
Google Analytics Solutions
EXAMPLES OF TRACKING TOOLS
Web Beacons/GIFS. Small graphic images or other web programming code called web beacons (also known as "1×1 GIFs" or "clear GIFs") may be included in our web pages and messages. Web beacons may be invisible to you, but any electronic image or other web programming code inserted into a web page or e-mail can act as a web beacon. Web beacons or similar technologies may be used for a number of purposes, including, without limitation, to count visitors to our Services, to monitor how users navigate the Services, to count how many sent e-mails were actually opened or to count how many particular articles or links were actually viewed.
Embedded Scripts. An embedded script is programming code that is designed to collect information about your interactions with the Services, such as the links you click on. The code is temporarily downloaded onto your device used to access Services from our web server or a third-party service provider, is active only while you are connected to the Services, and is deactivated or deleted thereafter.
HTML5. We use HTML5 in some of our applications, including in our mobile website for the iPhone or iPad. HTML5 has browser web storage that does not rely on traditional browser cookies. Like Flash cookies, HTML5 cookies are not stored in a browser "cookies" file and, like Flash cookies, can be used to track users across websites. To our knowledge there is currently no known way for a user of a mobile device to remove HTML5 tracking and storage.
e-tags/cache browser/web logs. Like most standard website servers, we log IP addresses (a unique number assigned to every computer on the Internet) and device identification in order to improve security, analyze trends and administer the Services. We may track your movement within the Services, the pages from which you were referred, access times and browser types. This information may include the browser you are using, the Internet address from which you linked to our Services, the operating system of your computer, the unique IP address of the computer or device identification from the mobile device that you used to access our Services and usage and browsing habits. We use this information in the aggregate to gauge the effectiveness, usage, and popularity of our Services, track information for statistical purposes, help diagnose and troubleshoot server malfunctions, analyze trends, track user movement in the aggregate, and gather broad demographic information. We may also use individual information we collect through web logs to send you targeted offers and other communications.