The Business Lending Exchange Ltd
For residents of the EU, please note that this Policy has been updated in accordance with the requirements of EU General Data Protection Regulation (GDPR).
1.0 Who or what is BLX?
BLX is a finance company providing funding to small and start up businesses in the UK.
2.0 Who provides the Services and controls my information?
BLX operates and provides the Services and is also your data controller.
Our legal bases for collecting, using, sharing and otherwise processing your information
BLX relies on a number of legal bases to collect, use, share, and otherwise process the information we have about you for the purposes described in this Policy. These legal bases include:
- as is necessary to receive, add to and edit information about you in order to provide the Services;
- where you have consented to the processing, which you may revoke at any time;
- for BLX to comply with a legal obligation, a court order, or to exercise and defend legal claims;
- when necessary to protect your vital interests, or those of others;
- where you have made the information manifestly public;
3.0 Our legitimate interests
We process your information in furtherance of the following legitimate interests:
- Providing Services to you:We use your information as it is necessary in order to make lending decisions based on that information, to lend money to you and to monitor the repayments and any other factors that may have a bearing on the finance agreement(s) you have with us. Or might enter into in the future
- Keeping the Services safe and secure:We use your information as it is necessary to pursue our legitimate interests in ensuring the Services are secure, such as by implementing and enhancing security measures and protections, protecting against fraud, spam and abuse.
4.0 Information we collect
When we provide the Services, we collect or receive information in several different ways. In many cases you choose what information to provide, although some information is required in order for BLX to provide the Services. We use this information for the purposes that are described further below.
4.1 From you, or with your permission. We collect a variety of information from you when you provide it to us directly, when we request it from you, or when you have given permission to get it from a third party source. We provide some examples of these below:
- When your details are entered on to the BLX system, you provide your name, address, phone number, email address, and similar information.
- If you contact us with a query, request or comment, you provide us with your contact information and a description of the issue so we can respond.
- Cookie datawhich comes from “cookies” (small data files stored on your computer or mobile device) and similar technologies. Cookie data helps us recognise you, remember your preferences, and learn more about you; some, but not all, cookie data is associated with your Nextdoor account. You can configure your browser to reject cookies, but doing so will prevent you from logging into our website.
5.0 How we use your information
We use the information we have to help us provide, operate, improve, understand, customise, support our Services.
6.0 Your Rights
You benefit from a number of rights in relation to your information that we process. While some of these rights apply generally, certain rights apply only in certain limited cases. We describe these rights below.
6.1 Access. Where legally required, we will provide your information in an easily accessible format and assist in transferring some of this information to third parties.
6.2 Object. If we process your information based on our legitimate interests explained above, or in the public interest you can object to this processing in certain circumstances. In such cases, we will cease processing your information unless we have compelling legitimate grounds to continue processing or where it is needed for legal reasons.
6.4 Complain. If you wish to raise a concern about our use of your information (and without prejudice to any other rights you may have), you have the right to do so with your local supervisory authority.
7.0 Sharing information with third parties
7.1 Shared information. We share information with service providers, affiliates, partners, and other third parties where it is necessary to provide the Services, or for any other purposes described in the Policy. We may pass some aspects of your information on to third parties such as Credit Reference Agencies, HPI, Land Registry, Police etc – to either provide the Services, for litigation purposes if you have defaulted, and in the cases of fraud.
7.2 Business re-organisation. In instances where BLX is subject to a re-organisation, such as a merger or acquisition of some or all of its assets, we may, in accordance with our legitimate interests, need to share information in the course of the transaction. In such circumstances, your information may be disclosed, where permitted by applicable law, in connection with a corporate restructuring, sale, or assignment of assets, merger, or other changes of control or financial status of BLX.
7.3 Legal and safety reasons. We may retain, preserve, or share your personal information if we have a good-faith belief that it is reasonably necessary to (a) respond, based on applicable law, to a legal request (e.g., a subpoena, search warrant, court order, or other request from government or law enforcement); (b) detect, investigate, prevent, and address fraud and other illegal activity, security, or technical issues; (c) protect our rights, property, or safety; (d) prevent physical injury or other harm to any person or entity, including yourself and members of the general public. Our legal team reviews every request received from law enforcement, and we frequently seek modifications of requests that we believe are procedurally flawed or too broad.
8.0 Data retention
We may retain your information in our server logs, our databases and our records for as long as necessary in light of the purposes set out in this Policy, subject to any legal obligations to further retain such information.
9.0 Additional information
9.1 Account Security. We use technical and organisational measures intended to keep your data secure, including using https on our web pages to reduce the risk of unauthorised interception of your communications during your visits to the website. However, the internet is not a fully secure environment and we cannot guarantee that your personal information won’t be intercepted or improperly accessed.
9.2 Amendments to the Policy.From time to time we may make changes to this Policy, so please review it periodically. If we materially change our Policy, we will take steps to notify you in advance of the change, for example by emailing you
10.0 Contact Us
Tel: 01223 836905
The Business Lending Exchange Ltd
St George’s House, George Street, Huntingdon PE29 3GH
‘In order to process your application we will supply your personal information to credit reference agencies (CRAs) and they will give us information about you, such as about your financial history. We do this to assess creditworthiness and product suitability, check your identity, manage your account, trace and recover debts and prevent criminal activity. We will also continue to exchange information about you with CRAs on an ongoing basis, including about your settled accounts and any debts not fully repaid on time. CRAs will share your information with other organisations. The identities of the CRAs, and the ways in which they use and share personal information, are explained in more detail at http://www.experian.co.uk/crain/index.html’