How It Works About Us

BorrowersFirst Privacy Policy & Federal Privacy Notice


TRUSTe Privacy Certification

Last updated: June 14, 2016

Your privacy and the protection of your personal information are important to us. This policy describes the type of information BorrowersFirst (“we”, “us” or “our”) collects and uses it. This policy also explains how we share and disclose such information, as well as your ability to control certain uses of it. This privacy policy applies to our site www.borrowersfirst.com.

Loans available through our Site are provided by Cross River Bank. Personal information is provided to Cross River Bank in connection with each loan application. For information about how Cross River Bank collects, uses, and discloses your personal information in connection with your loan, see the Cross River Bank Privacy Notice.

BorrowersFirst has received TRUSTe’s Privacy Seal signifying that this privacy policy and our practices have been reviewed for compliance with the TRUSTe program viewable on the validation page available by clicking the TRUSTe seal. The TRUSTe program only covers information collected on our site www.borrowersfirst.com.

If you have questions or concerns about our privacy policy or our practices, please contact us at privacy@borrowersfirst.com. If you have an unresolved privacy or data use concern that we have not addressed satisfactorily, please contact TRUSTe at https://feedback.truste.com.

Note Regarding Children Under 18

To receive a loan, you must be a U.S. resident 18 years of age or older. Children under the age of 18 are not eligible to use this Site.

Information We Collect and How We Use It

BorrowersFirst collects personal information from you while you use this Site. We collect most of this information when you inquire about or apply for a loan. Information we collect includes information that you are required to provide in order to get a loan, such as your name, address, email address, telephone or mobile phone number, Social Security number, date of birth, drivers license or state ID number, and financial account information,(such as your checking account and routing numbers), and other information that you may provide voluntarily. Additional information may be gathered any time you use of this Site. We also collect information about your loan account balance and payment history. We also collect a password so that you are able to access your account.

We may use the information we collect from and about you to:

  • Enable you to log in to the Site;
  • Verify your identity;
  • Determine your eligibility for a loan based on your credit history and financial circumstances;
  • Establish your ability to request a loan by verifying that you are at least 18 years of age;
  • Guard against potential fraud;
  • Enable our financial services partners to implement automatic payments and fund transfers;
  • Contact you in response to a loan inquiry or application or otherwise;
  • Service, administer or collect on your loan;
  • Develop new products or services;
  • Provide you with customized Site content;
  • Send periodic newsletters;
  • Research, address problems with, and improve the usage and operations of the Site; and
  • Protect the security or integrity of the Site and our business.

Additionally, we may use the information we collect from and about you in any way that has been disclosed or described to you at the point of collection.

We may obtain information about you from other sources, including credit bureaus, fraud detection services and your employer. This information may include name, updated address or contact information, and information about your credit history and score. We may combine this information with the information we collect from and about you to determine continued creditworthiness, provide fraud detection services, and help us provide our services to you. In addition, we gather names and email addresses of people who contact us through our website with questions about our company and our products and services. We collect this information for the purpose of responding to such inquiries and marketing our products and services.

We will send you strictly service-related announcements when it is necessary to do so. For instance, if our service is temporarily suspended for maintenance, we might send you an email.

Based upon the information you provide us, we will send you a welcome email to verify your account information and password. We will also communicate with you in response to your inquiries, to provide the services you request and to manage your account.

Log Files

As true of most Web Sites, we gather certain information automatically and store it in log files. This information may include internet protocol (IP) addresses, browser type, internet service provider (ISP), referring/exit pages, operating system, date/time stamp, and/or clickstream data.

Device Reputation

To protect both you and us, we use services provided by our partners to help decide whether to accept transactions from personal computers, mobile phones, or other devices. These services check whether these devices have been identified with fraudulent or abusive transactions in the past, such as reported instances of identity theft, account takeovers, or malware attacks. For these purposes, a cookie file, flash storage token, beacon, tag, script or other code file may be placed on your device to identify it in the future when you visit our website or connect with our applications. On connection with our site or service, we will transmit that device identification code to the third-party’s server, along with data concerning certain technical attributes of your device such as the model, operating system, and browser version, as well as the IP address, all of which are used to confirm device identification. The third-party’s server returns a response recommending that transactions be accepted or denied, according to settings we have selected. If you set your browser or device to reject these cookies or tokens, you may not be able to conclude some transactions through our website or application.

Tracking Services

In addition, we and our analytics partners use technologies such as cookies, or similar technologies to analyze trends, administer the site, track users’ movements around the site and gather demographic information about our user base as a whole. We may receive reports based on the use of these technologies by these partners on an individual as well as aggregated basis.

Please note that our system may not respond to Do Not Track requests or headers from some or all browsers.

Information Sharing

Information is shared with other parties in the following ways:

  • In order for us to finance your loan, we may sell your loan to or receive financing from third party investors. We provide information obtained about a borrower during the loan inquiry, application and verification process, including personal information, financial and credit information, to investors that may purchase, or otherwise finance, your loan. The information obtained during the loan inquiry, application and verification process, other financial and credit information obtained from a credit bureau, and your loan payment performance information, such as late payments and collections activities, are contained in loan data files that are provided to these third party investors and financing partners. If we sell a loan originated through our platform to an investor, we may provide that investor with personal information, financial, and credit information about you.
  • We may share your information with law enforcement or other government agencies as required by law, regulation, or for the purposes of limiting fraud. We reserve the right to disclose your personal information when we believe that disclosure is necessary to protect our rights and/or to comply with a judicial proceeding, court order, or legal process served on us.
  • We may share information in connection with the sale, acquisition, merger, consolidation, reorganization, bankruptcy or other corporate change involving BorrowersFirst.
  • We work with a number of trusted partners that perform vital functions as part of our operations, including platform administrators, loan servicers, credit bureaus, collection agencies, customer support call centers, electronic payment service providers, quality assurance agents, and companies that distribute our emails for us or collect survey information from our customers. Information is shared with these third parties only to the extent necessary for us to process the transactions you initiate or perform other specific services, like collections. Our partners are legally required to keep your information private and secure. Our partners are authorized to use your personal information only as necessary to provide these services to us.

Links to Other Websites

The Site may have links to third-party websites, which may have privacy policies that differ from our own. We have no control over the content of, and are not responsible for the practices of, such sites. Please consult the privacy policies on these sites before you provide them with any of your personal information.

Social Media Features

Our site includes social media features and widgets (“Features”), such as the Facebook like button or other interactive mini-programs that run on our site. These Features may collect your IP address, which page you are visiting on our site, and may set a cookie to enable the Feature to function properly. Features are either hosted by a third party or hosted directly on our site. Your interactions with these Features are governed by the privacy policy of the company providing it.

Children’s Privacy

Protecting children's privacy is important to us. We do not direct the Site to, nor do we knowingly collect any personal information from, children under the age of thirteen.

Data Security

We have taken certain physical, administrative, and technical steps to safeguard the information we collect from and about our customers and Site visitors. While we make every effort to help ensure the integrity and security of our network and systems, we cannot guarantee our security measures. We follow generally accepted standards to protect personal information submitted to us, both during transmission and once its received.

Access to Your Personal Information

If you have an account with us, you may sign in to your account on the Site and update the personal information contained in the account. If you wish to deactivate, delete inaccuracies, or update your account, please contact us at privacy@borrowersfirst.com. We will respond to your request within a reasonable timeframe. We will retain your information for as long as your account is active or as needed to provide you services. If you wish to cancel your account or request that we no longer use your information to provide you with services contact us at privacy@borrowersfirst.com. We will retain and use your information as necessary to comply with our legal obligations, resolve disputes, and enforce our agreements. We will respond to your access request in a timely manner.

Opt-out Preferences

Out of respect for your privacy, you may choose to stop receiving our newsletter emails by following the unsubscribe instructions included in these emails or contacting us at privacy@borrowersfirst.com.

We partner with a third party to either display advertising on our website or to manage our advertising on other sites. Our third party partner may use cookies or similar technologies in order to provide you advertising based upon your browsing activities and interests. If you wish to opt out of interest-based advertising click here. Please note you will continue to receive generic ads.

Compliance with State and Federal Laws

This privacy policy may not constitute your entire set of privacy rights, as these may also vary from state to state. To be certain of your privacy rights, you may wish to contact the appropriate agency in your state that is charged with overseeing privacy rights of consumers. Certain regulations issued by state and/or federal government agencies may require us to maintain and report demographic information on the collective activities of our borrowers. We may also be required to maintain your personal information for at least seven years in order to be in compliance with applicable federal and state laws regarding recordkeeping, reporting and audits.

Changes to This Policy

BorrowersFirst reserve the right to revise this Privacy Policy at any time. We may update this privacy statement to reflect changes to our information practices. If we make any material changes we will notify you by email (sent to the email address specified in your account) or by means of a notice on this Site prior to the change becoming effective. We encourage you to periodically review this page for the latest information on our privacy practices.

Contact Us

If you have any questions about this Privacy Policy, please submit your questions or comments directly to privacy@borrowersfirst.com via email.

You can also send questions or comments to:

BorrowersFirst, Inc.
Attn: Compliance Department
1114 Lost Creek Blvd, Suite 220
Austin, Texas 78716

Federal Privacy Notice

Rev. 5/2016

BorrowersFirst, Inc. ("BorrowersFirst")

FACTS WHAT DOES BORROWERSFIRST DO WITH YOUR PERSONAL INFORMATION?
Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share and protect your personal information. Please read this notice carefully to understand what we do.
What?

The types of personal information we collect and share depend on the product or service you have with us. This information can include:

  • Your name, address, email address, telephone or mobile phone number,
  • Social Security number, date of birth,
  • Drivers license or state ID number
  • Financial account information such as your checking account and routing numbers
  • Loan account balance and payment history
  • Credit history and credit score

When you are no longer our customer, we continue to share your information as described in this notice.

How? All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons BorrowersFirst chooses to share; and whether you can limit this sharing.
Reasons we can share your personal information Does BorrowersFirst share? Can you limit this sharing?
For our everyday business purposes--
such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus
Yes No
For our marketing purposes--
to offer our products and services to you
No We don't share
For joint marketing with other financial companies No We don't share
For our affiliates' everyday business purposes--
information about your transactions and experiences
No We don't share
For our affiliates' everyday business purposes--
information about your creditworthiness
No We don't share
For nonaffiliates to market to you No We don't share
Questions? Call toll-free 1-877-806-8860 or go to www.borrowersfirst.com
Page 2
What we do
How does BorrowersFirst protect my personal information?

To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.

We also maintain other physical, electronic and procedural safeguards to protect this information and we limit access to information to those employees for whom access is appropriate.

How does BorrowersFirst collect my personal information? We collect your personal information, for example, when you
  • Inquire about or apply for a loan
  • Use our website
  • Provide employment information
  • Give us your contact information
  • Provide us with your bank account information

We also collect your personal information from others, such as credit bureaus, fraud detection services and your employer.

Why can't I limit all sharing? Federal law gives you the right to limit only
  • sharing for affiliates' everyday business purposes--information about your creditworthiness
  • affiliates from using your information to market to you
  • sharing for nonaffiliates to market to you

State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.

Definitions
Affiliates Companies related by common ownership or control. They can be financial and nonfinancial companies.
- BorrowersFirst does not share with our affiliates. Our affiliates include SF Capital Investments, LP.
Nonaffiliates Companies not related by common ownership or control. They can be financial and nonfinancial companies.
- BorrowersFirst does not share with nonaffiliates so they can market to you. Loans available through our website are provided by Cross River Bank. Personal information is provided to Cross River Bank in connection with each loan application. For information about how Cross River Bank collects, uses, and discloses your personal information in connection with your loan, see the Cross River Bank Privacy Notice
Joint Marketing A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
- BorrowersFirst doesn’t jointly market.
Other Important Information

Special Notice For State Residents

For Alaska, Illinois, Maryland and North Dakota Customers. We will not share personal information with nonaffiliates either for them to market to you or for joint marketing without your authorization.

For California Customers. We will not share personal information with nonaffiliates either for them to market to you or for joint marketing without your authorization. We will also limit our sharing of personal information about you with our affiliates to comply with all California privacy laws that apply to us.

For Massachusetts, Mississippi and New Jersey Customers. We will not share personal information from deposit or share relationships with nonaffiliates either for them to market to you or for joint marketing without your authorization.

For Vermont Customers. We will not share personal information with nonaffiliates either for them to market to you or for joint marketing without your authorization, and we will not share personal information with affiliates about your creditworthiness without your authorization.

BorrowersFirst loans are unsecured, personal loans made by Cross River Bank, a New Jersey State chartered bank, Member FDIC. Eligibility for a loan is not guaranteed. To receive a loan, you must be a US citizen or permanent resident and at least 18 years old (or 19 years old in Alabama). At this time, we do not accept loan applications from residents of Colorado, Connecticut, Hawaii, Idaho, Iowa, Mississippi, Nevada, New York, Vermont, West Virginia, or Wisconsin.