At Loanable, we take your privacy seriously. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you visit our website or use our services.
Personal Information
We may collect personal information that you voluntarily provide to us when you:
- Register for an account
- Submit a loan application
- Contact us with inquiries
- Subscribe to our newsletter
This information may include:
- Identity Information: Name, date of birth, Social Security Number (SSN), Employer Identification Number (EIN)
- Contact Information: Email address, phone number (including mobile number for SMS communications), mailing address
- Business Information: Business name, type, industry, years in operation, monthly revenue
- Financial Information: Credit score, funding amount requested, existing loan balances, bank account details
- Tax Information: W-9 form data including Taxpayer Identification Number (TIN)
Sensitive Data Encryption: Social Security Numbers, Employer Identification Numbers, Taxpayer Identification Numbers, and bank account details are encrypted using AES-256 encryption before storage and are never stored in plain text.
Automatically Collected Information
When you access our website, we automatically collect certain information about your device, including:
- IP address and browser type
- Operating system
- Access times and pages viewed
- Referring website addresses
2. How We Use Your Information
We use the information we collect to:
- Process your loan applications
- Match you with appropriate lending partners
- Communicate with you about your account
- Improve our services and user experience
- Comply with legal obligations
- Detect and prevent fraud
We may share your information with:
- Lending Partners: To facilitate loan matching and funding
- Service Providers: Third parties that help us operate our business
- Legal Requirements: When required by law or to protect our rights
Important: We do not sell your personal information to third parties.
4. Data Security
We implement industry-standard security measures to protect your personal information, including:
- 256-bit SSL encryption for data transmission
- Secure data storage with access controls
- Regular security audits and monitoring
- Employee training on data protection
5. Your Rights
You have the right to:
- Access your personal information
- Correct inaccurate data
- Request deletion of your data
- Opt-out of marketing communications
- Data portability
6. Cookies and Similar Technologies
We use cookies, localStorage, and similar technologies to provide and improve our services. Below is a detailed explanation of the types of data we collect and how you can manage your preferences.
6.1 Types of Cookies We Use
Essential Cookies (Required)
These are necessary for the website to function and cannot be disabled. They include:
- Session Management: Maintain your session while navigating the site
- Security Tokens: Protect against cross-site request forgery (CSRF)
- Authentication: Keep you logged in during your session
- Load Balancing: Ensure optimal server performance
Functional Cookies (Optional)
These remember your preferences for a better experience:
- Form Autosave: Save your progress on loan applications
- UI Preferences: Remember display settings
- Language Settings: Remember your preferred language
Analytics Cookies (Optional)
These help us understand how visitors use our site:
- Page Views: Track which pages are visited
- Session Duration: Measure time spent on the site
- Traffic Sources: Understand how visitors find us
- Error Tracking: Identify and fix technical issues
Marketing Cookies (Optional)
These are used for advertising purposes:
- Ad Targeting: Deliver relevant advertisements
- Conversion Tracking: Measure ad campaign effectiveness
- Retargeting: Show relevant ads on other platforms
6.2 Managing Your Cookie Preferences
You can manage your cookie preferences at any time by:
- Using our Cookie Settings: Click the "Cookie Preferences" link in the footer or click here to open the cookie settings panel
- Browser Settings: Most browsers allow you to block or delete cookies through their settings
- Do Not Track: We respect browser "Do Not Track" signals where applicable
Note: Disabling certain cookies may affect your experience on our website. Essential cookies cannot be disabled as they are necessary for the site to function.
6.3 Data Retention
Cookie data is retained as follows:
- Session Cookies: Deleted when you close your browser
- Persistent Cookies: Stored for up to 12 months
- Consent Preferences: Stored until you modify them
6.4 Third-Party Cookies
Some third-party services may set their own cookies. We use:
- Plaid: For secure bank account verification
- Analytics Services: To understand site usage
- Security Services: To protect against fraud
These third parties have their own privacy policies governing the use of their cookies.
7. SMS/Text Messaging Privacy
When you opt in to the Loanable USA SMS Program, we collect your mobile phone number and consent status. The following disclosures apply specifically to SMS communications:
What We Collect
- Your mobile phone number
- Your opt-in consent and the date/method of consent
- Your opt-out requests
- Message delivery status
No Sharing of Opt-In Data
We will not share your opt-in to an SMS campaign with any third party for purposes unrelated to providing you with the services of that campaign. We will not sell, rent, or disclose your mobile phone number or SMS opt-in data to third parties or affiliates for their own marketing or promotional purposes.
How We Use Your Mobile Number
Your mobile phone number will only be used to:
- Send you text messages related to your loan application status
- Communicate funding offers and updates
- Send appointment reminders and service notifications
- Respond to your requests for information
Opting Out
You may opt out of SMS communications at any time by texting STOP to any message you receive from us. For help, text HELP or contact us at apply@loanableusa.com. For full SMS terms, please see our Terms & Conditions.
8. California Consumer Privacy Rights (CCPA)
If you are a California resident, you have the following additional rights under the California Consumer Privacy Act (CCPA):
- Right to Know: You can request that we disclose what personal information we have collected about you, the categories of sources, the business purpose for collecting it, and the categories of third parties with whom we share it.
- Right to Delete: You can request the deletion of your personal information, subject to certain exceptions (e.g., legal obligations, ongoing transactions).
- Right to Opt-Out of Sale: We do not sell your personal information. If this changes, we will provide a "Do Not Sell My Personal Information" link.
- Right to Non-Discrimination: We will not discriminate against you for exercising any of your CCPA rights.
To exercise any of these rights, please contact us at apply@loanableusa.com or call (888) 816-2682. We will verify your identity before processing your request and respond within 45 days.
9. Children's Privacy
Our services are not intended for individuals under 18 years of age. We do not knowingly collect personal information from children.
10. Changes to This Policy
We may update this Privacy Policy from time to time. We will notify you of any changes by posting the new policy on this page and updating the "Last Updated" date.