Lincoln Commercial Funding act as a commercial finance broker of non-regulated finance for our customers. Lincoln Commercial Funding is an Authorised Representative of White Rose Finance who are Authorised and Regulated by the Financial Conduct Authority Firm Reference Number 630772. Lincoln Commercial Funding is authorised under the Firm Reference Number 924743
How we will use the information about you
Here at Lincoln Commercial Funding we take your privacy seriously and will use your personal information in several ways which will help us;
- make lender decisions,
- for fraud prevention,
- for audit,
- for statistical analysis,
- credit reference checks
We may share your information with, and obtain information about you from, credit reference agencies or fraud prevention agencies.
We will not disclose your information to any company outside of White Rose Finance Group Ltd except to help prevent fraud or if required by law to do so.
For further information on how your information is used, how we maintain the security of your information and your rights to access/alter and change the information we hold on you, please contact firstname.lastname@example.org
What we need
Lincoln Commercial Funding will be what is known as the ‘controller’ and the ‘processer’ of the personal data you provide to us. We collect personal data about you which may also include any special types of information or location-based information.
Your Personal Data May Include
Title, names, date of birth, gender, nationality, civil/marital status, contact details, addresses and documents that are necessary to verify your identity.
Employment and remuneration information, (including salary/bonus schemes/overtime/sick pay/other benefits), employment history.
Bank account details, tax information, loans and credit commitments, personal credit history, sources of income and expenditure, family circumstances and details of dependents.
Any pre-existing financial products and the terms and conditions relating to these.
Why we need it
We need to know your basic personal data to provide you with an accurate recommendation for your personal circumstances. We will not collect any personal data from you we do not need to provide and oversee this service to you.
For the processing of data to be lawful under GDPR Lincoln Commercial Funding use;
(a) Consent: the individual has given clear consent for you to process their personal data for a specific purpose.
(b) Contract: the processing is necessary for a contract you have with the individual, or because they have asked you to take specific steps before entering into a contract.
(c) Legal obligation: the processing is necessary for you to comply with the law (not including contractual obligations).
(d) Vital interests: the processing is necessary to protect someone’s life.
(e) Public task: the processing is necessary for you to perform a task in the public interest or for your official functions, and the task or function has a clear basis in law.
(f) Legitimate interests: the processing is necessary for your legitimate interests or the legitimate interests of a third party unless there is a good reason to protect the individual’s personal data which overrides those legitimate interests
What we do with it
Automated Decision Making: Lincoln Commercial Funding will pass your data captured to lenders who may use automated decision-making in respect of your application for finance. We will only collect the minimum amount of data needed and have a clear retention policy for the profiles we create.
You have the right not to be subject to a decision based solely on automated processing, including profiling, which produces legal effects concerning you or any significant effects. You can request human intervention and challenge a decision made this way by contacting email@example.com
All the personal data we use is controlled by Lincoln Commercial Funding in the UK, however, for the purposes of IT hosting and maintenance, this information is located on servers within the European Union. No 3rd parties have access to your personal data unless the law allows them to do so. We have a Data Protection regime in place to oversee the effective and secure processing of your personal data. More information on this framework can be obtained on request by writing to The Training and Compliance manager.
We may pass your data to other third parties to provide you with offers of products suitable to meet your customer requirements. Your data is stored electronically on our cloud encrypted server. Our server is based in the UK.
How long we keep it
We are required under regulation to keep your basic personal data, such as name, address, and contact details for a minimum of 6 years, after which time it will be destroyed. The information used for marketing will be kept with us until you notify us that you no longer wish to receive this information.
What are your rights?
If at any point you believe retained information is incorrect you can request to see this information and even have it corrected and possibly deleted. Providing you with this information is free of charge, but charges may apply for excessive requests.
If you wish to raise a complaint on how we have handled your personal data, you can contact our Data Protection Officer who will investigate the matter.
Where relevant, you have the right to withdraw consent and object at any time and this means that we cannot process your data provided without your consent.
More information about your rights can be found on the Information Commissioners website. https://ico.org.uk/
If you are not satisfied with our response or believe we are processing your personal data not in accordance with the law you can complain to the Information Commissioner’s Office (ICO).
Our Data Protection officer is Michael Hughes and you can contact them at firstname.lastname@example.org