Protecting your privacy is fundamental to the way CHANNEL PARTNERS CAPITAL, LLC and its subsidiaries (collectively, “we,” “us,” or “our”) conduct business. Although privacy regulations require companies to inform you of their practices regarding the collection and use of your personal information, keeping client information confidential has always been our policy. We have always known that privacy is important to you, and we are committed to safeguarding your personal information. This Privacy Statement explains how we may collect, use and disclose your personal information.
I. The USA Patriot Act
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING AN ACCOUNT
To help the government fight the funding of terrorism, money laundering activities and other financial crimes, federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
What this means for you: when you obtain a financial product or service offered by us, we may ask for your name, mailing address and other information or documentation, such as a copy of your driver’s license or other identifying documents, to verify your identity and otherwise comply with the applicable federal laws and regulations.
II. Personal Information
In the course of offering and providing our products and services, it is common for us to receive sensitive information from and about our customers, including financial and business information, some of which constitutes personal information. Generally speaking, personal information is any information that can be used, directly or indirectly, to identify, locate or contact someone. Types of personal information include names, physical addresses, mailing addresses, social security numbers, email addresses, phone numbers, bank account numbers and driver’s license numbers.
III. How We Collect Personal Information
Information Provided by You. We collect any information you provide when you use the Services. For example, we collect User Information and Business Information from you when you (i) register an account on the Sites, (ii) fill out forms or fields on the Sites, or (iii) complete an application for a product or service available through the Services. We also collect any information you may submit through communications with us by email, mail, text, telephone, facsimile or other means.
The Services allow us, upon your direction, to obtain User Information and Business Information from third party entities that your business maintains accounts with such as financial institutions, service providers, and social networking services. For example, we may obtain (i) transactional information about your business from financial institutions, (ii) information about your business’s engagement with customers from social networking services, and (iii) information about your business’s sales volume from service providers.
Information Received from Third Parties. In the course of providing the Services, we may also collect additional Business Information or User Information from third parties, including, but not limited to: financial institutions, referral partners, vendors and equipment suppliers, identity verification services, card networks, vendors, mailing list providers, consumer reporting agencies, commercial credit bureaus and associations, fraud prevention agencies, and publicly available sources. We may combine this information with information we already have about you.
IV. How We Use Personal Information
Service-Related Usage. We use the information we collect about and from you, both in a personally identifiable form and in an aggregated or anonymized form, for a number of purposes, including for providing, supporting, promoting, and improving the Services. Such uses include:
a. Enabling users to obtain products and services through the Services;
b. Facilitating marketing, processing, servicing, and collections activities;
c. Providing customer support;
d. Understanding, customizing, and enhancing user experience;
e. Providing targeted marketing and advertising;
f. Determining your eligibility for the Services;
g. Verifying your identity, conducting appropriate diligence, and keeping your information current;
h. Creating an account connection between your account and a third-party account or platform;
i. Sending notifications and information regarding the Services;
j. Measuring and improving the performance and functionality of the Sites;
k. Managing and protecting our information technology infrastructure;
l. Administering and managing the security of the Sites;
m. Developing new products and services; and
n. Compiling, using, researching, analyzing, and generating data analytics reports to better understand our Customers and to improve the Services;
Communications. We may communicate with you using the information collected (i) for customer service, (ii) to provide you with updates or information relating to the Services, or (iii) to conduct surveys and collect feedback about the Services.
Marketing and Advertising. We may use the information we collect for marketing and advertising purposes, such as providing you with promotional materials that may be useful, relevant, valuable, or otherwise of interest to you. Where required under applicable law, we will obtain your prior opt-in consent to send you electronic marketing communications. To learn more about your choices regarding interest-based advertising and cross-device tracking, please see the Third-Party Information Collection section below.
Compliance with Law and Our Own Obligations. We may use the information we collected, to the extent permitted or required under applicable laws (i) to detect and protect against potentially prohibited or illegal activities, including fraud and unauthorized access, (ii) in response to lawful requests for information or legal process, (iii) to establish, exercise, or defend a legal claim, and (iv) to comply with our contractual obligations, our policies, industry standards, and applicable laws.
Other Purposes. We may use the information we collect for other purposes for which we provide notice to you at the time of collection or for which we obtain your consent.
Aggregate Data. We may process your information in an anonymized or aggregated form for purposes other than described above.
V. Disclosure of Personal Information
We may disclose Personal Information to others for many of the same reasons that we use the Personal Information for our own internal purposes. Below is a description of the third parties we may disclose Personal Information and the reasons why we do so.
- Our Unaffiliated Service Providers: We use unaffiliated service providers to assist us in performing a number of different functions relating to the business and for commercial purposes. In the course of our dealings with these service providers, we may disclose your Personal Information that we have collected.
- Vendors and Equipment Suppliers: In connection with processing your request for business financing, processing that transaction and administering that transaction following closing, we may disclose your Personal Information to the business supplying the assets which you are financing or leasing in order to confirm the assets being financed, prevent fraud, complete the document package for the financing and provide customer service and other information to you or the vendor or equipment supplier.
- Our Affiliates: We use affiliated companies to enhance our ability to provide financing to businesses, as well as to hold, service and administer those financings once in place. We may disclose your Personal Information to those affiliates in connection with those and similar activities that they may perform related to your financing.
- Governmental Authorities: We may be requested or required to provide Personal Information to state or federal governmental agencies or by a court or other judicial or legislative body (“Governmental Authorities”). We may also disclose personal information to courts and other judicial bodies as necessary to enforce our rights and remedies under our financing contracts
- A third-party assuming control of us if the Personal Information is part of a merger, acquisition, bankruptcy or other transaction.
- Third-party funding and financing sources. For example, we actively manage our portfolio of business financings and, like most companies who provide business financing, we use a number of different tools to do so. We may disclose Personal Information to our third-party referral and purchaser relationships, as well as parties who provide us with financing, their respective service providers and other participants in those transactions.
- To other third parties pursuant to your direction, instruction or consent.
VI. Data Security
We have implemented measures designed to secure your personal information from accidental loss and from unauthorized access and disclosure. The use of, and access to, your personal information by us is restricted to employees and contractors who need to know that information to provide services to you.
We take reasonable measures, including administrative, technical, and physical safeguards to protect your information from loss, misuse, unauthorized access, disclosure, alteration, and destruction. These security measures include firewalls, data encryption, physical access controls to our data centers, and information access authorization controls. Your information is securely sent to us with at least 128 bit-encryption over the Transport Layer Security (TLS) protocol. This creates an encrypted connection between your browser and us so that any sensitive information you provide can be securely transmitted. Unfortunately, the Internet cannot be guaranteed to be 100% secure, and we cannot ensure or warrant the security of any information you provide to us.
If you link your bank account information as a part of applying for or receiving the Services, we will have read-only access to such information. We do not have access to change, edit, or modify your bank account information. We also cannot see your banking credentials (i.e., username and passwords). You are responsible for securing and maintaining the privacy of your banking credentials and account information. We are not responsible for protecting any information we share with a third-party based on an account connection that you have authorized.
VII. Data Retention
VIII. Children Under 13
IX. Changes to Our Privacy Statement
We will post any changes we make to this Privacy Statement on our website. This Privacy Statement was last updated on July 29, 2020.
X. Contact Information
CHANNEL PARTNERS CAPITAL, LLC appreciates your business. If you have questions or comments about this Privacy Statement, please call your CHANNEL PARTNERS CAPITAL, LLC contact or email us at:
XI. Your California Privacy Rights
If you are a California resident, California law may provide you with additional rights regarding our use of your personal information. To learn more about your California privacy rights, visit the Channel Partners Capital Privacy Statement – California.