Spark something new!
Connect your customers to capital, with Loanspark
Book a call with our team to learn more about how Loanspark can grow your business.
Last updated April 30, 2022
This Privacy Policy is effective for all visitors and co-brand referral partners to the website maintained at www.loanspark.com (the “Website”) operated by Loanspark, LLC (“Loanspark”, “us”, “we” or “our”) and is effective as of April 30, 2022. This Privacy Policy pertains to Website visitors and potential co-referral partners (“Visitors” and “Referral Partners”, respectively). If a Visitor is also a Merchant which may choose to access Loanspark’s portal to take advantage of Loanspark’s fund matching services, note that you will be required to also accept the portal Privacy Policy before you can proceed to submit an application for those fund matching services.
If you are a potential Referral Partner, before you initially enter any detailed information about your business, you and/or your business partners, you will be prompted to create an account and reconfirm your agreement with this Privacy Policy and the Terms of Use.
This Privacy Policy describes Loanspark’s information handling practices when you access this Website as a Visitor and/or as a Referral Partner.
Your visit to and use of this Website, and your submission of a Co-Brand Referral Partner Application is subject to this Privacy Policy and the Terms of Use.
Please know that the Terms of Use contain a binding arbitration clause and class action waiver that impact your rights regarding resolving disputes that are not otherwise waived pursuant to the terms of your agreement with Loanspark. If you live in the United States, such provisions are binding on you and Loanspark. Please read the arbitration clause and class action waiver contained in the Terms of Use carefully. If you disagree or are uncomfortable with the Terms of Use, or this Privacy Policy, please discontinue your use of the Website and related services, otherwise, you will have consented to arbitrate disputes that are not otherwise waived pursuant to the terms of your agreement with Loanspark which arise under and/or are related to the Services provided through this Site and this portal, and this Privacy Policy and the Terms of Use.
As a potential Referral Partner, remember, before you can proceed with the creation of your account and begin the co-brand referral partner application, you must review and accept this Privacy Policy. If you have any questions about this Policy, please submit an email detailing your questions or concerns to legal@loanspark.com
Loanspark offers this Website and co-brand referral partner opportunities only to businesses and business owners. This Website is not intended for consumers. While Loanspark collects certain personal information from you, as the principal of a potential Referral Partner, that information is required by certain federal and state laws to verify your identity and to prevent fraud. These Services are not to facilitate, nor are they, consumer transactions.
Loanspark is based in the United States, and its services and resources are only available for merchants in the United States. This Website and our practices are evaluated and based on United States’ laws, rules and regulations. Loanspark will only accept referral partner applications from Referral Partners and their owners located and facilitating the business financing application process for merchants and their business owners/guarantors in the United States.
Our services and this Website is not intended for persons under the age of 18 (or the age of majority in your state). Loanspark does not knowingly receive or solicit data from children under 18 years of age (or the age of majority in your jurisdiction). By using the Website, you represent to Loanspark, intending for Loanspark to rely thereon, that you are at least 18 (or the age of majority in your jurisdiction). If Loanspark learns that personal information from a Referral Partner’s principal and/or others are less than 18 years of age has been collected, Loanspark will terminate the Referral Partner’s account and take reasonable measures to promptly delete such data from its records. If you become aware of any data Loanspark may have collected from children under age 18 (or the age of majority), please contact Loanspark at legal@loanspark.com.
This policy describes and sets forth Loanspark’s policies on the following topics:
By accessing this Website as a Visitor and/or as a Referral Partner, you are agreeing to be bound by this Privacy Policy and the Terms of Use. Further, given the personal information we collect from the principals of a potential Referral partner, we require principals to affirmatively accept (by clicking to confirm your acceptance) this Privacy Policy. If you choose to apply to be a Referral Partner, by submitting that application, you are then required to expressly consent to our processing of certain limited personal information regarding the principals of your business for purposes of entering into that business transaction with Loanspark. Even if a Referral Partner’s relationship is then terminated with Loanspark for any reason, that information will be retained as required by law, to enforce the terms of our business transaction and for fraud prevention purposes. If you do not agree with or you are not comfortable with any aspect of this Privacy Policy, you should immediately discontinue accessing this Website and do not submit or seek to be a co-branding referral partner.
For potential Referral Partners, if you choose to submit a co-brand referral partner application through the Website, we will require you to submit, and we will collect information that identifies, relate to, describes, references, is reasonably capable of being associated with, or could reasonably be linked, directly or indirectly, with not only your business, but with you personally, as a principal or representative of the business, and that of your business partners, all in regard to your co-brand referral partner application (“personal information”).
As a Visitor to our Website, you do not need to submit to us any personal information. If you choose to, you can submit contact information to us to learn more about our co-brand referral partner program and the services we provide to Referral Partners’ merchants. When submitting these inquiries, please only provide business points of contact (e.g. business email address and/or business telephone number).
Personal information does not include:
To become a Referral Partner, Loanspark will ask you to provide detailed information about your business and you and/or your business partners. This information is required by law (e.g. to verify your identity).
Please note that you cannot become a Referral Partner if you choose not to share certain information requested. By providing this information, you understand and agree it is to enable you to engage in the business transaction with us, as a Referral Partner. You further are representing that you have any required consents from your business partners about whom you provide information, intending for Loanspark to rely thereon.
Loanspark obtains the categories of personal information listed below from the following sources:
Information Loanspark collects directly from you:
Your information may also be shared by Loanspark to fulfill regulatory or other legal requirements.
Information Loanspark collects from you automatically through this portal on the Website:
Loanspark receives and stores certain types of information automatically, such as whenever you interact with the Website or access your Referral Partner account. This information helps Loanspark address support issues, improve the performance of the Website and the Portal, and provide you with a more streamlined experience. This information is also used in Loanspark’s fraud detection efforts. Information collected automatically includes:
For example, Loanspark may automatically receive and record the following information on its server logs:
Loanspark may also use identifiers to recognize you when you access the Website via an external link, such as a link appearing on a third-party site.
Information collected from third parties
From time to time, Loanspark may obtain information about you from third party sources as required or permitted by applicable law or as you consent. These sources may include:
Loanspark does not share any Referral Partner principals’ personal information with your trade references.
Data Anonymization and Data Aggregation
Anonymization is a data processing technique that removes or modifies personal information so that it cannot be associated and/or re-identified with a specific individual. Except for this section, none of the other provisions of this Privacy Policy applies to anonymized or aggregated data (i.e. information about Visitors and Referral Partners that Loanspark combines together so that it no longer identifies or references an individual Visitor or Referral Partner).
Loanspark may use anonymized or aggregate Referral Partners’ principals’ and Visitors’ data for any business purpose, including to better understand Visitors’ and/or Referral Partners’ needs and behaviors, improve its products and services, conduct business intelligence and marketing, and detect security threats. Loanspark may perform its own analytics on anonymized data or enable analytics provided by third parties.
Types of data Loanspark may anonymize include transaction data, click-stream data, performance metrics, and fraud indicators.
If you request that your information be deleted in accordance with the policies set forth more fully below, your information may be anonymized or aggregated so that it can no longer be identified with you and/or your business.
Loanspark’s primary purpose in collecting personal information from principals of potential Referral Partners is in conjunction with your application to become a Referral Partner and to manage your account as a Referral Partner, and to provide Referral Partners with a smooth, efficient, and customized experience. Loanspark generally uses personal information to create, develop, operate, deliver, and improve its services, content, and for loss prevention and anti-fraud purposes.
Loanspark may use this information in the following ways:
As the principal of a potential Referral Partner, your personal information is necessary to enable Loanspark to comply with laws and regulations requiring Loanspark to collect, use, and store your personal information in certain ways. For example, Loanspark must identify and verify potential Referral Partners and their principals in order to comply with various federal and state laws. In addition, Loanspark uses third parties to verify your identity by comparing the personal information you provide against third-party databases and public records. When you seek to link a bank account to your Referral Partner account, Loanspark may require you to provide additional information which it may use in collaboration with service providers acting on its behalf to verify your identity or address, and/or to manage risk as required under applicable law. If you do not provide this necessary personal information required by law, you cannot be a Referral Partner and Loanspark will reject your application, and/or close your Referral Partner account.
Loanspark handles personal information of principals of the businesses seeking to become a Referral Partner. Accordingly, Loanspark actively monitors, investigates, seeks to prevent and/or detect, and mitigate any potentially prohibited or illegal activities, to enforce its agreements with third parties, and/or to prevent and detect violations of this Privacy Policy, the Terms of Use, and other agreements and consents you have provided or executed in furtherance of your application to be a Referral Partner and or in managing your Referral Partner account.
Loanspark processes Referral Partners’ principals’ personal information in order to help detect, prevent, and mitigate fraud and abuse of its services and to endeavor to protect your Referral Partner Account from compromise or information loss.
Loanspark processes your requests as a Visitor, and/or to process your application and/or manage your account as a Referral Partner. For example, when you apply to be a Referral Partner, Loanspark requires certain information such as your identification, contact information, and other personal information from the potential Referral Partners’ principals. Loanspark cannot accept your Referral Partner application without such information.
Loanspark sends administrative or Referral Partner account-related information to you to keep you updated about its referral partner programs, the status of your Referral Partner application, and/or the status of your referred merchants’ applications, and inform you of relevant security issues or updates. Without such communications, you may not be aware of important developments relating to your Referral Partner account. You may not opt-out of receiving critical service communications, such as emails or mobile notifications sent for legal or security purposes.
Loanspark processes your personal information when you contact Loanspark to address any questions or to troubleshoot problems. Without processing your personal information for such purposes, Loanspark cannot verify who you are and respond to your requests and address your concerns or inquiries.
Loanspark processes your personal information in order to enhance security, monitor and verify identity or Referral Partner account access, combat spam or other malware or security risks and to comply with applicable laws and regulations. If Loanspark cannot process your personal information for these purposes, it hampers Loanspark’s efforts to provide a secure experience.
Loanspark processes your personal information to better understand the way you interact with the Website and your Referral Partner account. In addition, Loanspark uses such information to customize, measure, and improve its referral partner program and the content and layout of the Website, and to develop new services.
If Loanspark is acquired, reorganizes or merges with another entity, Visitors’ information, Referral Partners’ and their principals’ information, and Referral Partner accounts may be transferred to the surviving entity in that transaction.
Based on your communication preferences, Loanspark may send you marketing communications (e.g. emails or mobile notifications) to inform you of new referral partner programs and/or opportunities. You can always opt out of receiving these materials by clicking on the opt out link in each such marketing communication you may receive.
Loanspark may disclose your personal information for any purpose for which you provide consent. For example, when you provide your trade references.
Loanspark will not use your personal information for purposes other than those purposes disclosed in this Privacy Policy and the Terms of Use, at the time the information is collected without your permission or as provided within the Co-Brand Referral Partner Agreement. From time to time, and as required under the applicable law, Loanspark may request your permission to allow it to share your personal information with third parties. If you choose not to provide consent for additional information as may be needed to process Referral Partner application, your application as a Referral Partner may be rejected.
Loanspark does not sell personal information.
i. Disclosure By Law:
You acknowledge and agree that Loanspark may disclose information you provide if Loanspark, in its sole discretion, believes that disclosure is reasonable and necessary to (1) comply with the law, requests or orders from law enforcement, or any legal process, (2) protect or defend Loanspark’s, rights or property, and (3) to enforce its Terms of Use and this Privacy Policy.
ii. Service Providers
Loanspark contracts with its service providers which help it to deliver the Services and to maintain and operate the Site, requiring those service providers to only use your information in connection with the services they perform for Loanspark, and prohibit them from selling your information to anyone for any purpose.
Examples of the types of service providers Loanspark may share personal information with (other than those mentioned above) include:
iii. Other Companies – Onward Transfers
With companies or other entities that Loanspark may be under discussions with for a potential merger or corporate acquisition. You will receive prior notice of any change in applicable policies and may elect to terminate your account.
iv. Professionals
With Loanspark’s professional advisors who provide banking, legal, tax compliance, insurance, accounting, or other consulting services in order to complete third party financial, technical, compliance and legal audits of Loanspark’s operations or otherwise comply with its legal obligations.
v. Background Checks
As provided in the Co-Brand Referral Partner Agreement, as a potential Referral Partner, you have expressly authorized Loanspark or its successors and assigns the continuing authority to conduct credit checks and background investigations relating to Referral Partner (and its principal owners, if applicable) and the right to report to credit agencies with respect to their relationship as deemed appropriate by Loanspark.
vi. Payment Process
As a Referral Partner, as provided in the Co-Brand Referral Partner Program Agreement, you may be required to pay a Subscription Fee. Subscription Fee payments are processed through our payment platform. At present, we have contracted with Stripe to process Subscription Fee payments. Stripe has represented that it is compliant with the Payment Card Industry’s Data Security Standards, but before you submit your payment information through our payment platform, please review Stripe’s privacy policy and terms of use.
By accepting Loanspark’s Terms of Use and this Privacy Policy, you thereby expressly consent to any the disclosure and/or transfer of your information as described in this Privacy Policy, the Terms, and the Website, intending Loanspark to rely thereon.
As a Referral Partner, when you provide information about your company’s principals and employees, you are representing to Loanspark that you have such third parties’ consent to do so, and we may use that information when we conduct background checks.
Third Party Links. The Site contains links to other websites and resources that are maintained by third parties. These third parties are solely responsible for their own websites and Loanspark encourages you to reach out to such third parties for copies of and information regarding their security practices. Loanspark does not control, and is not responsible for, the privacy and security practices of these third parties.
Please note that third parties you interact with may have their own privacy policies, and Loanspark is not responsible for their operations. Information disclosed by third parties is governed by their privacy practices.
As a Referral Partner, you may update or access your profile information at any time by contacting your assigned account representative or contact Loanspark’s support team at 877-81-SPARK or 877-817-7275.
You may request deletion of your Referral Partner account information. If you choose to delete your Referral Partner account, you will no longer be able to refer your merchants to our program, and except as otherwise provided in the Co-Brand Referral Partner Program Agreement, you will no longer be entitled to receive any referral fees. We may, however, be required to maintain certain information by law. In these cases, your information will not be used for any purpose (other than a regulatory audit or a law enforcement request), and will be deleted in accordance with applicable data destruction laws or Loanspark’s data destruction policies.
Loanspark stores personal information of Referral Partner principals so long as the Referral Partner maintains its Referral Partner Account. Loanspark will only retain your personal information for as long as necessary to fulfill the purposes for which it was collecting it, including for the purposes of satisfying any legal, accounting, or reporting obligations or to resolve disputes. While retention requirements vary by jurisdiction, information about Loanspark typical retention periods for different aspects of your personal information are described below.
This Website and the Co-Brand Referral Partner Program provide business- to- business transactions. As a Visitor or principal of a Referral Partner, when you provide your personal information to Loanspark, or authorize third party sources to provide your personal information to Loanspark, it is in the context of you making inquiries about our Referral Partner program, to process your Referral Partner application and/or to manager your Referral Partner account, all in regard to your business transaction with Loanspark. The fact that you are providing personal information to facilitate that transaction does not make this a consumer transaction. While Loanspark uses reasonable measures to secure your personal information disclosed to Loanspark in the context of your transaction, privacy rights associated with a consumer transaction, as a general matter, do not apply to this Website and our Referral Partner program.
Nevertheless, where doing so does not interfere with, or impede Loanspark delivery of the Website, processing your application as a Referral Partner or managing your Referral Partner account, or compliance with applicable laws, Loanspark will endeavor to comply with your requests.
If your requests will prevent or impede Loanspark’s ability to process your Referral Partner application or manage your Referral Partner account, or is contrary to applicable laws associated with business financing transactions and/or anti-fraud measures and requirements, Loanspark will so advise you. You can then elect to terminate your Co-Brand Referral Partner Program application or agreement or withdraw your request.
Further, your rights to personal information are not absolute. Depending upon the applicable law, access may be denied: (a) when denial of access is required or authorized by law; (b) If you are a resident of a state that does not provide for this right; (c) when granting access would have a negative impact on another’s privacy; (d) to protect Loanspark rights and properties; or (e) where the request is frivolous or vexatious, or for other reasons.
You may request that Loanspark provide you a copy of your personal information held by Loanspark. This information will be provided without undue delay subject to a potential fee associated with gathering of the information (as permitted by law), unless such provision adversely affects the rights and freedoms of others. In certain circumstances, you may request to receive your personal information in a structured, commonly used and machine-readable format. Given the sensitive nature of the information collected from principals of Referral partners, Loanspark will not honor a request to transfer your data to a third party offering a similar referral program.
You may request, and you should provide to, Loanspark to rectify or update any of your personal information to ensure that the most current and accurate information is collected and made available for processing a Referral Partner application. You may do this at any time by emailing our team at support@loanspark.com
As noted above, you can either terminate or delete your Referral Partner account and the personal information previously collected from you regarding principals of the Referral Partner. If you close your Referral Partner account, Loanspark will mark your account as “Closed,” but will keep certain account information, including your request to erase, in its database for a period of time as described above. This is necessary to deter fraud, by ensuring that persons who try to commit fraud will not be able to avoid detection simply by closing their account and opening a new account, and to comply with Loanspark’s legal obligations. However, if you close your Referral Partner account, your personal information will not be used by Loanspark for any further purposes, nor shared with third parties, except as necessary to prevent fraud and assist law enforcement, as required by law, or in accordance with this Privacy Policy.
To the extent the processing of your personal information is based on your consent, you may withdraw your consent at any time. Your withdrawal will not affect the lawfulness of Loanspark’s processing based on consent before your withdrawal. Further, if you withdraw your consent, Loanspark may not be able to process your Referral Partner application.
In some jurisdictions, applicable law may give you the right to restrict or object to Loanspark processing your personal information under certain circumstances. Loanspark may continue to process your personal information if it is necessary for the defense of legal claims, or for any other exceptions permitted by applicable law.
Loanspark relies on automated tools to help determine whether a transaction or an account presents a fraud or legal risk. In some jurisdictions, you have the right not to be subject to a decision based solely on automated processing of your personal information, including profiling, which produces legal or similarly significant effects on you, save for the exceptions applicable under relevant data protection laws.
You can make privacy rights requests relating to your personal information by contacting Loanspark at legal@loanspark.com or by contacting customer service at 877-81-SPARK or 877-817-7275. When Loanspark receives an individual rights request via other intake methods, Loanspark may, or where required by law, will take steps to verify your identity before complying with the request to protect your privacy and security.
If you believe that Loanspark has infringed your rights, please contact Loanspark at legal@loanspark.com.
This is a business to business service, and collection of your personal information is in the context of, and in support of a business transaction, not a consumer transaction. As such, this transaction, and your rights are not governed by consumer privacy laws to the fullest extent allowed in your jurisdiction.
Nevertheless, Loanspark will accommodate reasonable requests where possible and not excessive.
California: If you are a California resident, you may designate an authorized agent to make a request to access or a request to delete on your behalf. Loanspark will respond to your authorized agent’s request if they submit proof that they are registered with the California Secretary of State to be able to act on your behalf, or submit evidence you have provided them with power of attorney pursuant to California Probate Code section 4000 to 4465. Loanspark may deny requests from authorized agents who do not submit proof that they have been authorized by you to act on their behalf, or are unable to verify their identity.
EXCEPT IN THE CONTEXT OF AN ONWARD TRANSFER, LOANSPARK DOES NOT SELL THE PERSONAL DATA COLLECTED PURSUANT TO THE SERVICES.
Loanspark has implemented technological, administrative and operational controls in addition to measures intended to protect information collected through this Website and through the Referral Partner application process from loss, misuse, unauthorized access, exfiltration and/or alteration. Upon request, Loanspark will provide more detailed information about its security practices subject to the execution of a non-disclosure agreement. In all cases, Loanspark will exercise reasonable care to endeavor to provide secure transmission of information between your computer and Loanspark servers, but given that no information transmitted over the Internet can be guaranteed 100% secure, Loanspark cannot guaranty or warrant the security of any information transmitted to Loanspark over the Internet; and hence, to the fullest extent allowed by law, Loanspark accepts no liability for any unintentional disclosure. For further information, please see Loanspark’s Terms of Use.
In the event there is a confirmed data breach impacting your personal information on or through this Website and your Referral Partner account maintained by Loanspark, Loanspark will notify you as required by applicable law.
You are responsible for your Referral Partner account credentials, and all activities using your Referral Partner account credentials. Do not share your account login and/or password with any other individual. Your account login and/or password is sensitive and your sharing of your account information may lead to additional exposure to your account. You should only access the Website within a secure environment. You are responsible for keeping your access credentials to your Referral Partner account secure. Do not use the same credentials for this Account and portal as you do for any other accounts, whether business or personal. Report to us immediately if you believe your account credentials have been compromised at support@loanspark.com.
You may choose to stop receiving marketing emails by following the unsubscribe instruction included in these emails or you can contact Loanspark at optout@loanspark.com
If, after signing up to be a Referral Partner, you decide you no longer wish to participate in our Co-Brand Referral Partner Program, you may terminate your Co-Brand Referral Partner Agreement and cancel your account as discussed herein.
Certain federal and state regulations require that Loanspark maintain a record of your information for certain periods of time. Due to these regulations, Loanspark may be unable to completely delete your information from its database until the time requirements of these regulations have expired.
Loanspark may modify or update this Privacy Policy from time to time which will be indicated by changing the date at the top of this page. If Loanspark makes any material changes, Loanspark will notify you by email (sent to the email address specified in your account), by means of a notice on the Website or as otherwise required by law.
Loanspark encourages you to periodically review this page for the latest information on this Privacy Policy. When Loanspark makes changes to this Privacy Policy Loanspark will revise the revision date at the top of the Privacy Policy.
You can contact Loanspark about this Privacy Policy by writing or email Loanspark at the address below:
Loanspark LLC
321 Walnut Street, #224
Newton, MA 02460
877-81-SPARK or 877-817-7275
legal@loanspark.com
Book a call with our team to learn more about how Loanspark can grow your business.
