This website is owned and operated by Verifen (“Verifen”). We at Verifen value and safeguard the privacy of visitors to our website, as well as the privacy of our customers. This Privacy Policy outlines how we protect your privacy and details our data collection and usage practices. It applies to and describes the handling of your information when you access our services, including our content located on this website, or any other websites, pages, features, or content we own or operate (collectively, the “Site(s)”), as well as third-party applications relying on our API, and related services (collectively referred to as “Services”).
Verifen is a small business marketplace dedicated to assisting small businesses with accessing and managing capital. This Privacy Policy applies to all users who interact with our Sites.
We encourage you to review Verifen’s Terms of Use. Where necessary, we will obtain your consent to process your personal information as described below. However, your use of our privacy policy signifies sufficient consent for Verifen to collect and process your personal data in accordance with this Privacy Policy and applicable law. We may also provide additional “just-in-time” disclosures or information about specific data processing practices associated with particular Services. These notices may supplement or clarify our privacy practices and provide you with more choices regarding how we process your data. Section Summary: This Privacy Policy explains how Verifen collects and uses your personal data when you interact with our website and services.
1.1 Personal Information Collected
While Verifen primarily collects information about your business, we inevitably collect Personal Information about business owners as they seek business capital. Personal Information is any data that identifies, relates to, describes, references, or can be reasonably linked with an individual or household. However, it does not include:
To create an account and use our Services, you may need to provide certain personal information. This may be required by law (e.g., for identity verification), necessary for the provision of requested services (e.g., bank statements for financial verification), or for other specific purposes described below. As our features and Services evolve, we may request additional information from you. Please note that failing to provide certain information may result in the inability to use some or all of our Services.
1.2 Types of Personal Information We Collect
During the course of offering services, Verifen may collect the following information:
We automatically collect certain information when you interact with our Sites or use our Services. This includes:
This automatically collected information helps us improve our Sites’ performance, address customer support inquiries, and enhance your experience while safeguarding against fraud.
From time to time, we may collect data from third-party sources, such as:
We gather information from you during the application process and through your interactions with our Sites.
As previously noted, when we require your consent to process your personal information, we will ask for it explicitly. We may also provide "just-in-time" disclosures or additional information about data processing practices for specific Services. If you do not agree with or are uncomfortable with any aspect of this Privacy Policy, we recommend that you immediately discontinue access to or use of our Services.
The personal information we collect comes from the following sources:
2.1 Personal Information Collected During Application
To process your initial application for business funding, you may need to provide personal details, such as your name, address, phone number, email address, business name, and other related information. This data is primarily used to process your funding application and may also be used for purposes outlined in this Privacy Policy.
2.2 Email & Communication Preferences
When you register for our Services, we will collect your email address. This email is used for both transactional (e.g., application status updates) and promotional (e.g., newsletters, product updates) purposes. We may send emails that contain tracking codes to analyze your engagement with our messages, such as whether you opened the email or clicked any links.
You may also receive telephone calls or text messages related to our services. You may provide additional information during these interactions. If you prefer not to receive promotional emails, telephone calls, or text messages, you can opt-out by changing your preferences in your account settings or contacting us directly. We comply with relevant laws, including the U.S. CAN-SPAM Act, Telephone Consumer Protection Act (TCPA), and other applicable regulations governing communications.
2.3 Data Shared with Service Providers
Verifen uses various service providers to enhance the customer experience. When you use these services, you may provide personal information to those providers, and they may share it with us. We may also share your data with these service providers in compliance with this Privacy Policy. We work to minimize the data shared with these providers and anonymize or aggregate your information when possible.
2.4 Log Files for Site Usage Analysis
Whenever you visit our Sites, our servers automatically collect certain information from your browser, such as IP addresses, browser type, referring/exit pages, platform type, and timestamps. This information is used for analyzing trends, administering the site, preventing fraud, tracking user movement, and gathering demographic information.
2.5 Use of Cookies to Enhance User Experience
We use cookies to track information during your visit to our Sites. Cookies are small files stored on your computer that allow us to distinguish between new and returning visitors, save user preferences, and track trends. Cookies also enable us to personalize your experience and monitor site performance. Some cookies transmit information about you to third parties, including advertising and analytics providers.
2.6 Web Beacons for Personalized Engagement
We may use web beacons (also called clear gifs or pixel tags), which are small, transparent images used in conjunction with cookies. Web beacons allow us to personalize your experience on our Sites and gather information about how you interact with our content. These may also be used in email communications to analyze customer engagement.
We do not link web beacon data to personally identifiable information.
2.7 Third-Party Data Collection Practices
In certain cases, we may collect information from third parties. This data is used to enhance our advertising, tailor our services, and match you with appropriate lenders. If you provide us with information about others, or if others provide us with your details, we will only use that data for the specific purpose for which it was provided.
We may also link to third-party websites, which have their own privacy policies. We encourage you to review their privacy and security practices, as we are not responsible for their handling of personal information.
3.1 Delivering Verifen Services
We process your personal information to provide our Services. For example, when you apply for business financing, we require personal and financial information to match you with lenders and process your application.
3.2 Leveraging AI and Machine Learning for Service Enhancement
To enhance our Services, Verifen uses Artificial Intelligence (AI) and Machine Learning (ML) models. These technologies may process your personal data as part of improving service delivery. We ensure our AI and ML models comply with all relevant laws and ethical standards.
3.3 Administrative and Service Communications
We send administrative or account-related information to keep you informed about updates, security alerts, or any changes related to your account. These communications are essential for the smooth functioning of our Services, and you cannot opt-out of receiving them.
3.4 Using Personal Information for Customer Support
We use your personal information to address questions, resolve issues, and support your experience with our Services.
3.5 Research, Development, and Service Improvement
We use the information we collect to analyze how you interact with Verifen Funding’s Services. This helps us improve the functionality, content, and user experience of our Services. Your personal data is used to develop new features and enhance our offerings.
3.6 Customizing User Experience Based on Preferences
We use your personal information to provide a customized experience, implementing preferences you may have specified. For example, if you grant us access to third-party data, we can personalize your service experience.
3.7 Business Transactions and Corporate Changes
In the event of a merger, acquisition, or sale of assets, we may transfer your personal information. You will have the option to close your account if you do not wish to have your data processed for such purposes.
3.8 Legal Compliance and Regulatory Obligations
We process your personal information to comply with legal and regulatory requirements, including identifying and verifying customers as per commercial lending laws.
3.9 Enforcing Service Agreements and Terms
We use personal information to monitor and enforce our agreements, prevent illegal activities, and ensure that our users comply with our terms of service.
3.10 Fraud Prevention and Risk Mitigation
We process personal information to detect and prevent fraudulent activities, protect accounts, and mitigate any risks related to fraud or unauthorized use of our Services.
3.11 Quality Assurance and Staff Training
We use your data for quality assurance purposes, to maintain the accuracy and reliability of our Services. This ensures a smooth experience for all users.
3.12 Security Measures and Identity Protection
We process your personal information to enhance the security of our Services, prevent unauthorized access, and comply with applicable security regulations.
3.13 Data Anonymization and Aggregate Use
We may anonymize and aggregate customer data for business purposes. This anonymized data may be used for analysis, marketing, product improvement, and other internal uses. When you request that your personal information be deleted, we may retain anonymized or aggregated data as permitted by law.
We may share your personal information with third parties in certain situations, as described below:
4.1. Legal Disclosure of Your Information
We may disclose your personal data if required by law, or if we believe that such disclosure is necessary to comply with legal processes or protect the rights and property of our company or third parties.
4.2. Sharing Information with Financing Providers
When you apply for business financing, we may share your details with lenders, brokers, banks, and other Financing Providers in our marketplace. These providers may retain your information even if you do not engage in any agreement with them.
4.3. Disclosing to Trusted Partners
We share your data with trusted third parties offering services we think may benefit you, but only after you’ve shown interest (e.g., clicking links). These services include tax preparation, loans, credit repair, and more. We are not responsible for the actions or content of these third parties.
4.4. Working with Service Providers and Subcontractors
We may share your data with our subcontractors and service providers who assist us in delivering our services. These entities are contractually bound to use your information solely for the tasks we assign to them and are prohibited from selling it to others.
4.5. Sharing During Mergers or Acquisitions
If we undergo a merger, acquisition, or funding event, your personal information may be shared with those involved in the process. We will notify you in advance about any significant changes to our data handling practices.
4.6. Partnering with Third-Party Advertising Networks
Your information may be shared with third-party advertising networks to serve you personalized ads based on your behavior across platforms. These networks use cookies and other technologies to track and analyze your online activities.
4.7. Sharing with Professional Advisors
To comply with legal, financial, or other professional obligations, we may share your personal information with legal, accounting, and compliance experts who assist in auditing or advising our operations.
4.8. Miscellaneous Data Sharing
We may share your personal information for other purposes, provided you have given your consent or as required by law.
You have rights to access, update, or delete your personal information. However, we may need to retain certain data to comply with legal requirements.
We securely store your information and retain it only as long as needed for business or legal purposes.
We implement robust security measures, including encryption and secure storage, to protect your data. However, no online system is 100% secure, and while we strive to safeguard your data, we cannot guarantee absolute protection.
You can opt-out of receiving promotional communications by following the unsubscribe link in any email or by contacting us at support@Verifen.com. This will stop all marketing messages but may not affect essential communications.
This section applies specifically to California residents under the California Consumer Privacy Act (CCPA) and outlines your rights regarding personal data collection and use.
8.1. Personal Information We Collect
We collect several categories of personal data, including identifiers (name, email), financial information, browsing history, and other data.
8.2. How We Use Your Data
We use your information for various purposes, including service delivery, marketing, and legal compliance, as outlined in this policy.
8.3. Exercising Your CCPA Rights
As a California resident, you have the right to request access to, deletion of, and correction to your personal information. You also have the right to opt-out of the sale or sharing of your data and restrict the use of sensitive personal information.
8.4. Categories of Data Shared or Sold
We may share or sell certain personal information to third-party advertising partners for targeted advertising purposes. You can opt-out of this by filling out a request form.
Vermont residents are entitled to additional privacy protections under state law. We limit the sharing of personal information for Vermont residents, except as required by law or with explicit consent.
We may update this Privacy Policy from time to time. Any major changes will be communicated to you through email or a site notification. We recommend reviewing this page periodically to stay informed.
Our site is not intended for children under the age of 18. If we discover that a child under 18 has provided personal data, we will take steps to delete or anonymize that data promptly.
If you have questions about our Privacy Policy or wish to exercise your privacy rights, please reach out to us at: Verifen 3044 Coney Island Avenue, Mailbox #7 Brooklyn, NY 11235 Phone: (888) 788-6160 Email: privacy@Verifen.com
You may withdraw your consent to electronic Communications at any time by emailing us at customerservice@Verifen.com. Withdrawal of consent will result in the closure of your Verifen account, including restricted access to our website and mobile app.
Upon account closure, any remaining balance may be refunded by check as outlined in our account terms.
