Lendiqo respects your rights to privacy. Your ability to make informed choices about the use of your information is important to us. This Privacy Policy explains our policy regarding the collection, use, disclosure, and protection of personal information we receive through your use of the Lendiqo application (“the App”). It also sets out how you can contact us if you have any queries or concerns about this information. If not otherwise defined in this Privacy Policy, capitalized terms have the meaning given to them in our Terms and Conditions, which you may read here (the “Terms”).
Consent
By communicating or dealing with Lendiqo, including by completing and submitting the Application Information through the App, you consent to the information you provide being collected, stored, used, and disclosed by us in accordance with our Privacy Policy.
Types of Information We Collect
“Personal Information” means information that can be directly associated with a specific person, such as gender, birth date, marital status, professional experience, education, or credit card information.
We collect such Personal Information that you provide us in order to provide you with our Services. This Personal Information may include your full name, gender, birth date, place of birth, place of residence, profession and professional experience, social security number, or the Application Information.
We also receive information from Funding Providers regarding your funding application or funding. Such information may include whether or not funding has been approved, the amount of the funding, the date on which the funding is granted, and additional information regarding the funding.
We may offer the option to use a third-party service in order to allow you to obtain Statements (“Third Party Service”). If you choose to use such a third-party service, we may also retain the Statements.
How We Protect Information
We make efforts to follow generally accepted industry standards to protect Personal Information, both during transmission and once we receive it, including by keeping your Personal Information secure in a combination of secure computer storage, hard copy files, and other records. However, you must realize that no method of transmission over the Internet or method of electronic storage is 100% secure. Therefore, we cannot guarantee its absolute security.
We will delete any Personal Information provided to us by a user upon the receipt of a written request by such a user. We cannot restore information that we have deleted.
How We Use Information
Please be aware that we are not a government agency, public organization, or financial institution. Our role is to provide value-added services designed to connect real estate investors with lenders, facilitating access to financing solutions.
We will provide third-party Funding Providers your Application Information on your behalf for the opportunity to receive a small business funding conditional offer. If you have chosen to use the App to receive Third Party Data, we will also share this information with such Funding Providers. If you are found eligible for business funding by several Funding Providers, you may choose with which Funding Provider(s) you want to complete the process. If you direct us to do so, we may also share your Application Information with other third parties which offer similar services.
Except as specifically set forth in these Terms, we will not share your Personal Information with third parties without your explicit permission.
We may use Personal Information internally—for example, to help diagnose problems with our servers, to make our App or Services more useful, or to customize our App or Services and personalize their content for you.
We may share your Personal Information with members of our corporate family, third-party vendors, service providers, and Funding Providers. We may also authorize third-party Funding Providers, vendors, or service providers to collect information on our behalf.
HOA and Management Companies
Condo Questionnaire Requirements
From time to time, it may be necessary to request a condominium questionnaire to be completed by the HOA (Homeowners’ Association) or its management company. This questionnaire provides essential information to lenders about the condominium’s financial health, compliance, and other critical factors.
Information Shared with Lenders
The completed questionnaire will be shared with the lender for evaluation purposes. Lenders use this information to confirm that the HOA meets their standards, which may include, but are not limited to:
- Compliance Status: Ensuring the HOA complies with applicable laws and regulations.
- Litigation Status: Verifying that the HOA is not involved in any ongoing litigation that may pose financial risks.
- Financial Viability: Assessing the HOA’s financial stability, reserve funds, and budgetary practices.
- Occupancy Rates: Determining owner-occupancy versus rental occupancy ratios.
- Insurance Coverage: Confirming that the HOA maintains adequate insurance coverage
- The information provided in the questionnaire is critical for the lender’s evaluation of the property and the approval of the loan. Delays or inaccuracies may affect the timeline or approval of the financing.
- Any costs associated with completing the questionnaire, such as fees charged by the HOA or management company, will be the responsibility of the borrower unless otherwise specified.
Cookies
A cookie is a small piece of text that is sent to a visitor’s browser. The browser provides this piece of text to the device of the originating visitor when this visitor returns. We use cookies to help personalize your experience. A “persistent” cookie may be used to help save your settings and customizations. Also, if you log in to an application that we may provide, such a cookie will be used to recognize you as a valid user, so you will not need to log in each time you use the App. Most Web browsers are initially configured to accept cookies, but you can change this setting so your browser either refuses all cookies or informs you when a cookie is being sent.
Online Links to Other Sites or Applications
You can link to the websites of third parties that provide useful information/services. Any Personal Information you provide on the linked pages is provided directly to this third party and is subject to this third party’s provider’s privacy policy. We advise you to check these privacy policies. We do not have access to the information collected by those third-party websites or by our partners. Except as described in this Privacy Policy, we are not responsible for the content or privacy practices of third-party websites to which we or our partners link.
Use of the App/Services by Children
You must be at least 18 years of age to use the App and/or Services. We do not knowingly collect personally identifiable information from children under the age of 13. In the event you become aware that somebody under the age of 13 has enrolled without parental permission, please inform us immediately.
Correcting or Updating your Information
We allow you to view the information you provided during registration and to alter any data, inaccuracies, or errors. To request such access, or correct, update, or amend your personal information, please contact us at the following email: uw@lendiqo.com.