Privacy Policy

Last updated on July 3, 2024.

1. Introduction

This Privacy Policy for YouLend US LLC (hereafter "YouLend", "we", "our" or "us") describes the types of information we gather about you (the “Client”), what we do with it and how our Clients can contact us if they have any questions about our use of such information.

This Privacy Policy applies to all the products and services offered by YouLend and all information collected via and from the Clients’ use of YouLend’s services and website (www.youlend.us) (together, the “Services”). The Services are designed for Clients in the United States and are not intended for Clients outside the United States.

Please also note that this Privacy Policy does not apply to other organizations, persons or websites to which we refer to on the Services, including through banners or links. Our inclusion of such links does not, by itself, imply any endorsement of the content on such platforms or of their owners or operators. We do not guarantee and are not responsible for the privacy or security of those other organizations, persons or websites.  Any information the Client submits to those third parties is subject to the third party’s privacy and security policies.

We may amend this Privacy Policy at any time by posting a revised version at www.youlend.us, updating the “Last Updated” date at the top of this Privacy Policy, and taking any other steps required by applicable law. We advise all Clients to visit www.youlend.us periodically to review this Privacy Policy. If a Client does not agree to this or any revised versions of the Privacy Policy, please do not access and use the Services.

2. Personal information collected by YouLend

When you use or access the Services, we collect certain information about you from different sources.

Information You Provide to Us

Some features of the Services may require the Client to provide YouLend with information specified in YouLend’s Terms of Use or otherwise agreed on. This information includes:

• Information on the amount, the identity of the applicant and relevant officers, directors and beneficial owners, recipient of funds, currency conversion, location of funds etc. Such information is personal information if the information belongs or relates to an identifiable individual. Such personal information will be processed in connection with facilitating the offering of the YouLend services, including provisioning of financing.

• Personal information during the application process as well as during monitoring of transactions relating to the sender and receiver of a transactions, including in accordance with YouLend’s obligations under anti-money laundering regulations. Such information may include names, dates of birth, social security numbers, tax identification numbers and identification documents on beneficial owners of companies, authorized signatories, officers, directors and other relevant personnel. These pieces of information are mandatory information since they are collected and processed in order to comply with applicable laws and regulations.

• Information contained in communications with YouLend’s Clients and other individuals that we interact with, including over email for the purpose of providing and managing the services provided by YouLend.

Information Collected from Other Sources

YouLend may also collect personal information from third parties, including to verify the identity and information received by the Client as well as to deter, detect, and prevent fraud and illegal activities and conduct a credit assessment in connection with a Client’s application for financing through YouLend. This can include collecting or receiving information about Clients and applicants from our business partners, publicly available sources, and third parties that you authorize to disclose information to us, as well as conducting a credit reference agency search on the named Client and applicant, including but not limited to directors, beneficial owners and officers, their financial associates and businesses. For the avoidance of doubt, the authorization to YouLend includes an authorization to conduct credit reference agency searches on all directors, beneficial owners and officers involved with the named Client as well as any guarantors. A record of these searches will be recorded against all applicants and may be seen by other companies if they carry out a credit enquiry.

Any information received from outside sources will be treated in accordance with this Privacy Policy. We are not responsible for the accuracy of the information provided to us by third parties and are not responsible for any third party’s policies or practices.

Biometric Information Collected by Third Parties

In order to comply with our legal obligations, including Know Your Customer and anti-money laundering requirements, YouLend takes steps to verify the identity of Clients. This may require Clients to undergo verification through Onfido, a photo-based identify verification company, who collects this information on our behalf. See our Facial Scan Policy for further information. 

Information Collected Automatically

YouLend may collect information related to the Client’s use of the Services by means of third party tools, including cookies, pixels and other tracking technologies (“Tracking Technologies”). Information collected through such technologies includes:

• Device information, such as IP address (and approximate location based on IP address), details of devices used to access the Services (such as unique device identifier and device type).

• Other information regarding your interaction with the Services, such as browser type, date and time stamps, log data, emails you have opened and clickstream data (e.g., page requests, page views, how much time is spent on a page, content viewed or interacted with, text entered, etc.).

For further information on how we use Tracking Technologies and your choices, see section 6 below.

3. How YouLend uses, discloses and processes personal information

We use and disclose your information for the following purposes:

• Client identification, monitoring and reporting in accordance with our applicable law and other requirements, including anti-money laundering regulations

• Authentication of Clients on the YouLend platform and Services

• Credit assessment of Clients applying for financing through YouLend

• Transaction information

• User experience, website optimization and communication with Clients

As listed above, YouLend processes personal information regarding Clients in order to provide, manage and develop the Services and other offerings provided by YouLend, which includes provisioning of financing and credit assessment, instructions, transactions, client service and website optimization. YouLend also processes information to detect and prevent fraud and violations of YouLend’s legal agreements, to protect or defend the Services, our rights or the rights of others, and to fulfil technical, financial, tax, compliance, administrative functions.

YouLend may disclose personal information for these same purposes. YouLend may also disclose personal information to comply with applicable law, including any applicable tax regulation or market rules, or law enforcement, a legislative or regulatory authority or another person who is entitled by law to demand such disclosure, without prior notice to the Client.

Further, YouLend may disclose personal information with vendors and other third parties for hosting and storing, compliance purposes, fraud prevention and security purposes, credit assessment, enabling the transfer of funds on behalf of or initiated by the Client or another individual, and for analytics. Disclosure of personal information may also be made to perform other parts of the Services and managing the client relationship, including, but not limited to public authorities and/or cooperation partners such as correspondent banks, service providers and our business partners who introduce us to Clients and applicants. Third parties include but are not limited to third party capital providers. YouLend may also disclose personal information in connection with an asset sale, merger, bankruptcy or other business transaction.

The Client authorizes YouLend to transfer information to any legal entity within the YouLend group, as well as to any reputable third party in connection with the performance of a credit assessment of the Client and any officers, directors and beneficial owners related to the said Client as well as any guarantors.

In order to process the Client’s application, we will supply the Client’s business information (which may include personal information) to third party partners, including to Experian and Equifax, and they will give us information about the Client’s business and information about people connected to the business, such as a company proprietor or directors. We carry out these checks for the purposes of detecting and preventing fraud and money laundering.

During the time that the Client has an active account with us, these partners, e.g., Experian may make periodic searches and alert us to any changes about the Client’s business, or the people connected to your business, that we may need to investigate as part of our ongoing management of your account.

The ways in which Experian and Equifax use and share personal information, are explained in more detail at https://www.experian.com/privacy/prod_serv_policy and https://www.equifax.com/privacy/privacy-statement/.

We use Community Federal Savings Bank (“CFSB”), member FDIC, for which GoCardless Ltd acts as a third-party servicer, to process your Direct Debit payments. GoCardless and CFSB use personal data as described in these privacy notices. By submitting this form, you agree to the GoCardless Website Terms of Use. GoCardless uses analytics cookies.

4. Security

YouLend uses computer safeguards such as firewalls and SSL software encryption for many of the services to protect personal information provided to YouLend. YouLend enforces physical access controls to their buildings and files, and YouLend authorizes access to personal information only for those employees who require it to fulfil their job responsibilities.

Please be aware that, despite our best efforts, no security measures are perfect or impenetrable, and we cannot guarantee “perfect security.” Any information the Client sends to us, while using the Services or otherwise, may not be secure when transmitted to us, and we recommend that the Client does not use unsecure channels to communicate sensitive or confidential information.

In addition, the security of the Client’s accounts relies on the Client’s protection of the Client’s login credentials, including the Client’s YouLend password. The Client may not share the YouLend password with anyone. YouLend’s representatives will never ask for a Client’s password, so any e-mail or other communication requesting the Client’s password should be treated as unauthorized and suspicious and forwarded to USSupport@youlend.com.

5. Other information collected by YouLend

In addition to the information set out in section 2, YouLend collects certain other information in order to provide, manage and develop its Services and other offerings. YouLend uses, discloses and processes the following information in the same manner as described in section 3.

Authentication

In connection with usage of YouLend’s platform, information is collected to verify the identity of the Client to allow for the use of Services, including certification and passwords. YouLend also collects the IP address and other identifying information about the computer or device the Client uses to access the accounts in order to help detect possible instances of unauthorized transactions.

Transaction information

In connection with each transaction and application, the Client must provide YouLend with the information specified in YouLend’s Terms of Use or otherwise agreed on. YouLend retains such information for each transaction and YouLend Advance application. This information includes information on the amount, the identity of the recipient of funds, currency conversion, location of funds, financial information on the Client, ownership, management, website statistics etc.

Client identification

YouLend collects information on the Clients for the purposes of facilitating services, identifying the client and understanding the industries of clients which relate to requirements under applicable laws, including anti-money laundering regulations.

Client correspondence information

Information regarding the Client’s correspondence with YouLend will be collected. This information includes emails, instructions, faxes or telephone calls directed to YouLend.

6. Tracking Technologies

We use Tracking Technologies, including Google Analytics to collect information about your browsing activities, including your browsing over time and across different websites following your use of the Services.

Do Not Track Signals

The Client’s browser settings may allow you to transmit a “Do Not Track” signal when you visit various websites. Like many websites, our website is not designed to respond to “Do Not Track” signals received from browsers. To learn more about “Do Not Track” signals, you can visit http://www.allaboutdnt.com/.

Cookies and Other Tracking Technologies

The Client may control the way in which their devices permit the use of tracking technologies. If the Client so chooses, they may block or delete our cookies from their browser; however, blocking or deleting cookies may cause some of the Services, including any portal features and general functionality, to work incorrectly. Most browsers accept cookies automatically. However, the Client may be able to configure your browser settings to use the Services without some cookie functionality.  For example, in the Chrome menu bar, select: More → Settings → Privacy and security → Cookies and other site data → See all cookies and site data, where the Client can choose to allow or block all or certain cookies, and choose to clear cookies when they quit Chrome.  In addition, the Client can opt out of tracking by Google Analytics at https://tools.google.com/dlpage/gaoptout.

7. Retention

We retain your information for as long as is reasonably necessary for the purposes specified in this Privacy Policy. When determining the length of time to retain information, we consider various criteria, including whether we need the information to continue to administer your account, provide the Services, resolve a dispute, enforce our contractual agreements, prevent harm, promote safety, security and integrity, or protect ourselves, including our rights, property or products.

8. California Residents

This section applies if you are a resident of California. For purposes of this section, references to “personal information” shall also include “sensitive personal information”.

The table below sets out the categories of personal information (including sensitive information, denoted by *) we collect and disclose (if applicable), including our collection and disclosure over the past 12 months.

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For information regarding the specific purposes for which we collect and disclose your information, and the categories of sources from which we collect such information, please see sections 2 and 3 above. Information about our retention of personal information is described above in section 7. We only use and disclose sensitive personal information for the purposes specified in the CCPA or otherwise in line with your consent.

We do not “sell” or “share” (as those terms are defined under the CCPA) personal information, nor have we done so in the preceding 12 months. Further, we do not have actual knowledge that we sell or share personal information of residents under 16 years of age.

If you are a California resident, you may have certain rights in relation to your personal information. However, these rights are not absolute and may apply only in certain circumstances.

• Right to Access / Know. You may have a right to request access to personal information that we hold about you, including details relating to the ways in which we use and share your personal information, or the ways in which your personal information has or may have been used or disclosed by us in the past.

• Right to Delete. You may have a right to request that we delete personal information we maintain about you.

• Right to Correct. You may have a right to request that we correct inaccurate personal information we maintain about you.

You may submit a request to exercise any of these rights by emailing us at USsupport@youlend.com.

We will not discriminate against you for exercising any of these rights. Further information may be needed to verify your identity before exercising these rights, such as your email address or government issued ID. You may designate, in writing or through a power of attorney document, an authorized agent to make requests on your behalf to exercise your rights. Before accepting such a request from an agent, we will require that the agent provide proof you have authorized them to act on your behalf, and we may need you to verify your identity directly with us.

9. Contact information

Please do not hesitate to contact us with any questions, comments or concerns relating to this Privacy Policy by e-mail to USsupport@youlend.com.

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