Terms of Service
Service Terms and Conditions
Goodloans Limited, incorporated in England & Wales, is located at 112-114 Witton Street, Northwich, Cheshire, England, CW9 5NW and is registered as a Data Processor with the UK Information Commissioner’s Office under the reference ZB024107. Acting as a credit intermediary rather than a lender, our Service entails aligning your detailed profile with the lending requirements of our associated finance providers (“Finance Providers”). This process is conducted in a manner ensuring anonymity for both the individual businesses and their related personnel. In situations where various Finance Providers meet your lending criteria, we may suggest the Finance Provider that appears to best fulfil your financial needs. Access to specific business information by Finance Providers is restricted until:
- 30 days subsequent to the indicated finance requirement date, or if unspecified, until the date you have requested finance; or
The conclusion of the Business Day following your notification of no longer requiring finance or disallowing any Finance Provider from accessing your information.
- Here, “Business Day” refers to weekdays excluding Saturdays, Sundays, and public holidays in England.
Finance Providers have the option to be included or excluded from the list of potential financiers for you. Upon your request, we will share your personal and business-related identifiable information with the selected Finance Provider as mandated by regulatory standards, typically by the close of the Business Day following your request.
Scope and Limitations of Our Service
Our Service is exclusively designed for legally registered businesses and should only be used for purposes related to your business. We do not offer services in debt counselling or debt advice. For assistance in these areas, the Business Debtline may be a helpful resource.
We cannot assure the success of our Service for your specific needs, nor are we obligated to offer it. The Service is reliant on third-party data, which we do not control and may include inaccuracies. It is your responsibility to confirm that any solutions provided through our Service align with your specific business needs. The information and content provided are subject to change without prior notice and are intended for general use and information only.
To facilitate the complementary nature of our Service, we expressly disclaim liability for any inaccuracies, failures, or errors as much as the law allows. We cannot guarantee the accuracy, timeliness, completeness, or suitability of information provided through the Service. Liability for each party under this Agreement is confined to losses or damages that are a direct and foreseeable result of a breach or negligence, barring instances of fraud or intentional misconduct.
These terms do not limit or exclude liability for death, personal injury, or other liabilities that cannot be legally excluded or limited. Although the Service is offered at no cost to you, we may receive commissions from Finance Providers for referrals made. We adhere to a Conflicts Policy to manage and mitigate any potential conflicts of interest. The Service is not meant as professional advice and should not be solely relied upon for any decisions. We recommend seeking independent professional advice in financial, accounting, tax, and/or legal matters related to your use of the Service and any financial applications or agreements.
The use and download of information from the Service are at your own risk, and it is advisable to use appropriate software for virus detection and disinfection. The presence of third-party sites, links, or information via the Service does not imply our endorsement, and we bear no responsibility for such external resources.
We retain the right to modify, suspend, or terminate any aspect of the Service without prior notification.
User Responsibilities / Service Usage
As a user of the Service, you are obliged to promptly inform us of any alterations in the details you have previously provided. It is imperative that all data you submit to us is exhaustive, factual, current, and precise in every aspect. The onus to create backups and replace any data you supply via the Service lies solely with you, at your own expense.
You consent to our conducting, along with our lending partners, identity and credit checks on you and your business's owners or directors. It is acknowledged by you and your owners or directors that credit reference agencies compile and interlink records of yourself and any financial associates you declare (such as joint credit account holders). These records, including past and future name details of account parties, remain linked in credit files until a successful disassociation is filed with the credit agencies. Both we and any Finance Provider may consider the information about your and your business leaders' financial associates in credit evaluations.
You must safeguard your login credentials, and any usage of these to access the Service will be presumed to be authorised by you, with corresponding liabilities, unless you inform us otherwise. You bear responsibility for all activities on the Service resulting from any failure to secure your password. We reserve the right, where legally permissible, to deny or revoke your access to the Service without prior notice or justification. Should you decide to discontinue using the Service, please contact us to deactivate your account. Following such a request, we will, within a reasonable period, revoke any third-party data access previously granted by you. We will retain historical data as outlined below.
In cases where you have committed to payment for aspects of the Service, be aware that failure to meet these payments may lead to a withdrawal of your service access rights.
You agree to use the Service in a manner that does not tarnish our reputation and to abide by all relevant laws and regulations, including the General Data Protection Regulations (GDPR). You also agree to indemnify us, our employees, officers, affiliated entities, and partners against any loss, damage, or claims incurred due to your breach of these terms.
Support for the Service is provided during office hours, reachable via email at email@example.com.
Intellectual Property Rights
We do not grant any intellectual property rights in relation to the Service, including but not limited to copyrights, database rights, trademarks, domain names, design rights, and patents, unless explicitly stated in writing.
The Service encompasses materials owned by us or our licensors, such as source code, algorithms, databases, copy, and graphics. You acknowledge that, unless specifically stated otherwise in writing, no rights are granted to you regarding these materials. Linking is limited to the Service's homepage, and any reproduction, framing, or modification of Service content is prohibited without our prior written consent. No proprietary rights, including database rights, will be acquired by you in any information accessed via the Service.
- You must not use the Service to harvest other users' information for unsolicited external communication.
- Creation of databases using information from the Service is limited to personal records.
- Transferring information from the Service to third parties is not allowed unless explicitly permitted by us.
- The use of automated scripts for data collection or interaction with the Service is forbidden.
- You must not use the Service unlawfully or in a manner that could damage the Service or its hosting servers.
- Registering or using the Service on behalf of another entity without their written consent is prohibited.
- Impersonation or misrepresentation in relation to the Service is not allowed.
- Do not remove any copyright or trademark notices from material acquired through the Service.
Data Management Practices
By supplying data to us through our Services, you are granting us a perpetual, irrevocable, royalty-free, sub-licensable, and transferable licence to utilise, replicate, modify, translate, excerpt, and distribute these data in any manner related to the Service, including creating derivative works or incorporating into other works. This information might be shared with third parties assisting us in providing the Service, used anonymously unless we obtain your specific consent to do otherwise. Should you decide to remove your data, this licence will cease, but please note that we may retain archived copies and are obligated to keep records relevant to our regulatory compliance for a minimum of five years from their creation date.
Handling of Client Funds
For clarification, Goodloans does not manage or handle client funds in any capacity.
If you have a complaint, please email us at firstname.lastname@example.org with a brief outline of the issue and your reference number. We'll acknowledge your complaint within one Business Day, and aim to provide an initial response within three Business Days. Our goal is to resolve the complaint within four weeks of receipt. If we're unable to resolve your complaint within eight weeks, we'll provide a final response. Should you disagree with our final response, you may be entitled to refer your complaint to the Financial Ombudsman Service, contactable at 0800 023 4567 or via www.financial-ombudsman.org.uk. There is also a provision to lodge a complaint directly with them.
We reserve the right to alter these terms and conditions at any time, which includes the right to assign them. Notifications to you may be sent via email to the address you provided upon signing up, or as updated by you in the Service. We may communicate notices through email or alerts within the Service. Should any part of these terms be deemed invalid or unenforceable, the remainder will continue to be valid and enforceable. Not exercising or enforcing any rights or provisions does not equate to a waiver. The Service is governed by English law, and any disputes arising will be subject to the jurisdiction of the English courts.
When using our Service, the following information will be required:
- The name of your small or medium-sized business.
- The business's postal address, email address, and telephone number.
- The amount of finance your business is seeking (except for credit card account requests, unless a specific credit limit is requested).
- The specific type of finance your business is requesting.
- The legal structure of your business (e.g., limited company, limited partnership, partnership, sole trader, etc.).
- The duration, in years and months, your business has been operational and generating income.
- The date by which your business requires finance, or if unknown, the date you have requested finance.
Fair Treatment of Customers
At Goodloans Limited, we are steadfast in our commitment to delivering the utmost standard of service to our customers. This dedication aligns with the Financial Conduct Authority’s initiative 'Treating Customers Fairly'.
We Pledge To
- Offer transparent information about our services, inclusive of any applicable fees or charges.
- Strive to comprehend your business needs, preferences, and situation, aiding us in refining the array of options that might suit you.
- Identify and recommend the lender we deem most fitting for your business needs and financial capacity.
- Communicate transparently if we are unable to locate a suitable option.
- Ensure that all information about services and risks is conveyed clearly and remains conspicuous.
- Welcome your queries and provide clarification on any aspect of our service that is not clear to you.
- Adhere to our formal complaints procedure, available to you should our service not meet your expectations.
How You Can Assist Us
To help us serve you better, we request you to:
- Provide comprehensive details about your business's financial inflows and outflows for accurate financial assessment.
- Inform us of any foreseeable future changes that may impact your ability to fulfil credit agreement repayments.
- Seek clarification on any aspects of our service or the financial solutions we discuss that are unclear.
- Offer feedback or suggestions on how we might enhance our service.
For feedback, please email us at email@example.com, or write to: Goodloans, 112-114 Witton Street, Northwich, Cheshire, England, CW9 5NW.
In search of financial solutions? Allow us to assist you in finding the most suitable financial product on the market. We will guide you through the entire process to help you secure the best deal.
Should you find our service less than satisfactory, we encourage you to inform us. At Goodloans, we strive to deliver a high-quality service, but we acknowledge that sometimes we may not get it right on the first try. In such cases, your feedback is invaluable in helping us rectifying any issues.
Our approach to handling complaints:
- We aim to make the process of lodging a complaint straightforward for you.
- Your complaint will receive the attention it deserves.
- We are committed to resolving complaints fairly and expeditiously.
- Our goal is to ensure you are satisfied with the resolution of your complaint.
You can lodge a complaint by:
- Emailing us at firstname.lastname@example.org
- Writing to the Complaints Department, Goodloans, 112-114 Witton Street, Northwich, Cheshire, England, CW9 5NW.
We endeavour to resolve complaints within three working days of receipt. If this is not feasible, we will contact you within five working days of receipt with an update or an acknowledgement of your complaint, followed by regular updates until resolution. If we have not resolved your complaint within eight weeks, or if you are dissatisfied with our response, you are entitled to seek an independent review from the Financial Ombudsman Service.
Contacting the Financial Ombudsman Service
- Financial Ombudsman Service Exchange Tower, London, E14 9SR
- Email: email@example.com
We're delighted to offer a reward of £200 in vouchers to our customers for every successful business referral. Please review the terms and conditions of our customer referral programme:
- For each business you refer to us that secures funding through Goodloans, we will provide you with £200 worth of vouchers.
- This programme is exclusive to current or former customers listed in the Goodloans Limited database.
- The referral reward is available solely for businesses new to Goodloans, i.e., those who have not previously engaged directly with us.
- The referred business must inform us of their referral before finalising their funding arrangement. By doing so, they accept the terms and conditions of this referral programme.
- While we strive to facilitate funding for all referred businesses, we cannot assure successful funding outcomes in every case.
- There is no cap on the number of businesses you can refer. You will receive £200 worth of vouchers for each referred business that successfully secures funding through Goodloans within 6 months of your referral.
- The process from referral to successful funding may span several weeks. Consequently, there may be a delay before you receive your reward.
- We will notify you when you become eligible for the referral reward.
- Please be aware, due to data protection regulations, we are unable to disclose confidential information about referrals, such as the funding amount requested, should you enquire about their status.
For any inquiries or feedback, please reach out to firstname.lastname@example.org.
Dated: 13th November 2023
This document is designed to clarify our role and how we intend to work with you. It encompasses details about our services, our compensation, data handling practices, and the process for raising complaints. It is crucial that you understand the contents of this document. In this context, 'Goodloans' or 'us' refers to the proprietor of the service, Goodloans Limited (12482742), while 'you' or 'your' pertains to the service user.
Goodloans Limited is dedicated to assisting businesses in securing financing from a diverse range of lenders that meet your specific needs, as per the information you provide us. We aim to furnish you with essential details about the finance options and the lenders, ensuring you fully comprehend any offer's terms before proceeding. We do not offer advice or recommendations. We may conduct an assessment to help filter down the range of potential financial products or options you might consider. The final decision on how to proceed will be yours. Please note, Goodloans Limited is not a direct lender but acts as a Credit Broker. Our objective is to connect you with appropriate business lenders. While we strive to offer consistent support through email@example.com, service availability and response times cannot be guaranteed. We reserve the right to discontinue the service at any time. Should you wish to lodge a complaint about our service, please write to our Complaints Manager at the address below.
There is no charge to you for our service as we receive remuneration directly from the lenders based on successful finance arrangements. Should you request disclosure of the payment we receive from a lender, we are happy to provide this information.
- The data we collect;
- Disclosure of your data;
- Processing of data not supplied by you;
- Utilisation of Personal Information;
- Data storage and security; and
- Your rights
The information provided may include sensitive personal data under the Data Protection Act, related to health, legal proceedings, political opinions, religious beliefs, sexual life, or Trade Union membership. Should you wish to stop us or any associated company from processing your personal or sensitive data, or from contacting you for marketing purposes, please contact us at the address below. We, along with any associated company, will treat all personal and sensitive data confidentially and will process it only for legitimate purposes. We are committed to maintaining the accuracy, currency, and security of your data, ensuring it is not retained longer than necessary.
Your continued use of our service constitutes your agreement to these terms of business, as detailed in this document and at www.fundably.com/terms. If you disagree with these terms, please inform us immediately, and we will cease our services. For your benefit and protection, please read these terms carefully. If you need clarification on any point, do not hesitate to ask for more information.
This document outlines how we handle your data when you use our services or visit our website. The policy is divided into various sections for clarity:
- Who We Are
- Our Role as Data Controller and Processor
- Types of Personal Data Collected
- Automated Decision-Making and Profiling
- Data Collection and Sharing Practices
- Information Collected and Shared with Others
- Sharing Anonymous Data
- Third-Party Links and Providers
- Data Retention Period
- Data Transfer Outside the UK or EEA
- Cookies and Tracking Technologies
- Your Rights Under Data Protection Laws
- Contact and Complaints
- Withdrawing Consent and Opting Out
- Security Measures
- Data Accuracy
Who We Are
Goodloans Limited, also referred to as “Goodloans,” “we,” “our,” or “us,” is dedicated to respecting and protecting your privacy. We hold your personal data, which is processed by us as outlined on our website, www.fundably.com. As part of the larger Goodloans Limited corporate group, we may share your data with Goodloans Limited and its subsidiaries for purposes outlined in this policy. Our registration with the Information Commissioner’s Office is under no. ZB024107.
Our Role as Data Controller and Processor
In certain scenarios, we also operate as a Data Processor, handling data on behalf of our business partners, who act as the Data Controllers. In these instances, we process the data strictly for providing the requested services and products to you.
Types of Personal Data We Collect
We collect various types of personal data for legal compliance, operational management, and to provide you with our services. The personal data we may collect includes, but is not limited to:
- Basic identification and contact details.
- Information about your business activities and needs.
- Financial information relevant to the services you request.
- Other data types as necessary for our service provision.
This overview is designed to provide clarity on our privacy practices. For more detailed information, please refer to the full policy on our website.
• Engaging in communication with our clientele.
• Updating and maintaining our records accurately.
• Addressing concerns and enhancing the services we offer to you.
• Enhancing and personalising your user experience.
Aligned with our legitimate business interests, we aim to:
• Ensure the effective provision of our products and services.
• Evolve our product and service offerings, pricing strategies, and identify potential customer demographics.
• Enhance our approaches to managing financial crime, in conjunction with fulfilling our legal responsibilities in this area.
• Enhancing our understanding of customer contracts and improving these engagements.
• Gaining insight into the responsibilities and risks for each party in any agreements.
• Streamlining the process of fulfilling our legal and contractual responsibilities.
- Gaining insights into and enhancing our contractual interactions with customers.
- Comprehending the responsibilities and risks for each party involved in agreements.
- Ensuring efficiency in fulfilling our legal and contractual obligations.
- Ensuring efficiency in meeting our legal and contractual responsibilities.
- Assessing the risks posed by applicants for a Goodloans account to both Goodloans's business and our clientele.
- Innovating our products and services, determining their pricing, and identifying potential customer demographics for them.
- Determining which of our products and services might be of interest to you and communicating this information.
- Innovating our product and service offerings, establishing pricing strategies, and identifying the customer demographics likely to utilise them.
- Ensuring efficiency in the fulfilment of our legal and contractual obligations.
- Innovating and developing our products and services, along with establishing their pricing, and identifying the customer segments likely to utilise them.
- Engaging in communication with our customers.
- Ensuring efficiency in fulfilling our legal and contractual obligations.- Addressing concerns and enhancing the services we offer to you.
- Assess potential risks that customers might pose to Goodloans’s business operations.- Maintain current and accurate records.
- Identify products and services that might interest you and communicate these offerings.
- Innovate and develop our product and service range, along with their pricing structures, and discern the customer segments likely to benefit from them.
- Identifying products and services that may be of interest to you and informing you about them.
- Evaluating potential risks that Goodloans customers could pose to Goodloans's business operations.
- Developing our products and services, determining their pricing, and identifying the customer segments most likely to utilise them.
• Maintaining current records.
• Seeking your permission when necessary for communication purposes.
Automated Decision-Making and Profiling
To expedite and standardise our decision-making process, we engage in automated individual decision-making. This involves using technology to analyse your information to evaluate your personal situation, thereby forecasting potential risks or outcomes. Examples of where we apply automated decision-making include:
- When you register for an account on Our Website.
- When you request credit services through Our Website.
If you're significantly impacted by an automated decision in these or any other scenarios, you have the right to request Goodloans to review such a decision, share your perspective, or challenge it by contacting us at firstname.lastname@example.org.
Goodloans may also engage in profiling to enhance communication with you. This could be to send notifications or updates tailored to your service usage patterns or the interests of different customer groups. Profiling may also be utilised for targeted or direct marketing (e.g., delivering ads aligned with your Goodloans Products and Services usage, or based on your account information or website activity).
Data Collection and Sharing Practices
We may collect personal data about you or your business from various sources:
Information Provided by You
This encompasses data you or your business supply, as well as information from individuals associated with your business’s products or services or those acting on your behalf, including:
- When you apply for our products and services.
- During phone conversations with us.
- While using Our Website.
- In emails, web chats, and letters.
- Through surveys.
- If you participate in our contests or promotional activities.
Information Collected and Shared with Others
We gather personal data from a variety of third parties, as outlined below. Additionally, if our business is sold, we might disclose your information to the new owner.
Sharing Anonymised Data
Besides the data sharing already mentioned, we sometimes provide data to companies outside Goodloans, but only in a form where no individual's identity can be determined, thus not considered personal data under legal terms (anonymised data).
Third-Party Links and Providers
Our core service involves connecting you with potential funding from our network of lenders. To achieve this, we share information with these lenders to enable them to decide on providing finance. At times, we might also present or suggest products or services from our business partners (third parties). These independent providers offer services through or are promoted on Our Website, such as business insurance, foreign exchange, and energy comparison services.
Data Retention Period
We retain your personal data as long as you remain a Goodloans customer.
After you cease to be a customer, we might still keep your data for various reasons, including:
- To address queries or complaints, or to demonstrate fair treatment.
- To establish, assert, or defend legal claims.
- For research purposes, provided it doesn’t harm your privacy or data protection rights.
- To adhere to legal requirements concerning record-keeping, in which case we'll keep your data for a minimum of six years.
We may also retain your data if laws applicable to Goodloans mandate its preservation due to legal, regulatory, or technical reasons.
Data Transfer Outside the UK or EEA
The personal data we hold is primarily stored by Goodloans within the UK or the European Economic Area (EEA). However, it may also be transferred and stored outside the UK or EEA with third parties as necessary for our product delivery or service operations. In cases of international data transfer, we ensure protection equivalent to that in the UK and EEA. We implement legal safeguards like:
- Transferring to countries with privacy laws equivalent to the UK or EEA.
- Establishing contracts with recipients to maintain UK and EEA data protection standards.
- Utilising standard contractual clauses approved by EU or UK authorities under data protection laws.
For the second and third scenarios, we will also incorporate additional safeguards in line with UK/EEA guidelines on data transfer risks to third countries.
Cookies and Tracking Technologies
- Strictly Necessary Cookies: Essential for the functioning of our products or services, such as those enabling secure logins and interactive features.
- Analytical/Performance Cookies: These help us recognize and count visitors and users, and understand their interaction with our products or services. For example, they aid in improving how our offerings work and ensuring users find what they need easily.
- Functionality Cookies: These enable us to recognize you on return visits to Our Website, allowing for personalization like greeting you by name and remembering your preferences (e.g., language or region choices).
- Targeting Cookies: These track your visits to Our Website, the pages you've visited, and the links you've followed. We use this information to tailor our products, services, and displayed content to better match your interests. We may also share this data with third parties for similar purposes. In some cases, particularly with targeting cookies, we act as joint controllers with third parties, such as the social media platform TikTok.
You can block or disable cookies through your web browser settings or via the banner on Our Website in the “Cookie Settings” section. Most browsers provide options to manage cookies, typically accessible through ‘settings’, ‘preferences’, or ‘options’. If you choose to block or disable cookies, including essential ones, it may impact your ability to access certain parts of Our Website.
Your Rights Under Data Protection Laws
Under the DPA 2018 and UK GDPR, your rights include:
- Correcting any incorrect data about you.
- Being informed about how we process your data.
- Requesting deletion of your personal data in certain scenarios.
- Accessing and receiving copies of your data.
- Objecting to the processing of your data for direct marketing or in other specific instances.
- Challenging automated decision-making processes that significantly affect you.
- Restricting our processing of your personal data in some situations.
- The right to data portability.
For comprehensive details on these rights and the conditions under which they apply, consult the ICO’s guidance on individual rights under the GDPR. To exercise any of these rights, contact us at email@example.com or at our physical address.
Contact and Complaints
If you have any queries or concerns about our data usage, our Data Protection Officer (DPO) is available to assist. You can reach our DPO at the same contact details. Additionally, you have the right to lodge complaints with the ICO, the UK’s data protection supervisory authority.
Withdrawing Consent and Opting Out
You can withdraw your consent to our data processing or opt out of certain processing activities, such as marketing, social media and targeted marketing, non-essential cookies, and non-essential profiling and automated decision-making. However, this may affect our ability to provide certain products or services, which we will inform you about. You can then choose to re-consent to access our products or services.
We implement appropriate security measures to protect your personal data from unauthorized access, alteration, disclosure, or loss. These include data encryption, role-based access controls, and procedures for dealing with data breaches. Access to your personal data is limited to those who require it for their work and is processed only as per our instructions.
We strive to keep your personal data accurate and up-to-date. Please inform us promptly of any changes to your personal data.
This policy outlines Goodloans’s commitment to aiding SMEs and partners in transitioning to a sustainable, low-carbon economy. It covers our strategies, governance, and approaches to climate opportunities and challenges.
Philosophy and Vision
At Goodloans, we are dedicated to achieving a net-zero world and addressing climate change urgently. Aligning with global initiatives like the United Nations’ Paris Agreement and the TCFD, we understand the financial sector's critical role, especially SMEs, in meeting carbon reduction targets.
Impact on SME Lending
Sustainability has been a key focus in financial services and is increasingly relevant for the SME alternative finance industry. This sector is essential for supporting UK SMEs in their growth and in contributing to a net-zero economy.
Positioned at the heart of UK business finance, Goodloans is poised to help our customers achieve their net-zero objectives, thereby promoting a sustainable economy.
Financial Solutions for a Sustainable Future
Goodloans is committed to guiding you through finding and securing the best financial products in the market, ensuring a sustainable and prosperous future. This policy represents Goodloans’s dedication to sustainability, emphasising our strategic role in steering the UK towards a greener economy.
Commitments and Framework
Goodloans is devoted to helping SMEs contribute to the UK's 2050 net-zero target, aligning with global and national green initiatives.
The policy is built on four pillars: Strategy, Risk Management, Metrics and Targets, and Governance.
Our climate strategy focuses on enabling SMEs to engage in green initiatives, including funding and lending for environmentally friendly projects and businesses.
We recognise our responsibility to manage our greenhouse gas emissions and help our clients address their climate-related risks.
Metrics and Targets
Our goal includes measuring our GHG emissions and increasing awareness about climate change within the SME lending market.
Advocacy and Education
We aim to advocate for policy changes and educate our customers and staff about the importance of sustainability.
The Chief Executive Officer’s Role
The CEO oversees the implementation of Goodloans's sustainability strategy across all divisions.
- Risk and Compliance: Implementing and updating the sustainability policy.
- Sales and Commercial: Engaging with green lenders and supporting green finance initiatives.
- Engineering, Product, Design & Data (EPDD): Ensuring data quality and system functionality for sustainable finance.
- Marketing: Communicating Goodloans's sustainability goals and achievements.
- People: Raising awareness and implementing initiatives for staff to reduce carbon emissions.