This policy applies to all current and former Factor Bid customers. Note that, in order to use our services, you must be 18 years of age or older.
We collect personal information about you that you provide while you use www.factor.bid or any associated websites, desktop or mobile applications. We collect most of this information during the registration and/or application process for borrowers, finance companies and investors. Additional information may be gathered during your subsequent use of the site, or when we communicate with you via telephone, email or other means.
Certain personal information must be supplied during the registration processes in order to meet our legal obligations, verify your identity, determine eligibility for credit, protect against fraud, and complete your transaction. The following categories of information may be collected:
In addition, we gather names and email addresses of people who contact us with questions. We collect this information only for the purpose of responding to inquiries.
If you use the comments section of our blog at www.factor.bid, be advised that information you submit is stored there and will be visible to other users of the website.
When you sign your customer application, we will collect information from credit bureaus and other partners to determine your creditworthiness, assess risks related to your potential loan and help finance companies determine whether to commit to your financing. We also collect information from credit bureaus after your loan originates in order to assess risks associated with your loan and provide information to our affiliates interested in offering you competitive rates, or to provide you with marketing offers. If another company refers you to Factor Bid or assists you in any way in the application process, we may collect your information from that company in order to process your application. The following categories of information are generally collected:
In order to provide services to you, improve our business and maintain records required by law, Factor Bid collects information about your transactions and activity. For borrowers, this includes your payment history. For finance companies, this includes your ongoing funding to the acquired customer. For all members, Factor Bid collects information about your computer and your visits to www.factor.bid and other Factor Bid websites, such as your IP address, geographical location, browser type, referral source, length of visit, button clicks and page views.
Factor Bid does not process or respond to “do not track” signals or other similar signals whereby a visitor to a website requests that it disable collection of information about the visitor’s online activities over time and across different websites.
Cookies and Web Services. Factor Bid and our marketing partners and service providers use technologies such as cookies, tags, beacons, and scripts, to analyze trends, administer the website, track users’ movements around the website, and gather demographic information about our user base as a whole. We may receive reports on this activity on an individual and aggregated basis.
Usage Data & Site Activity. Factor Bid uses HTML5, to store content information and preferences. Various browsers may offer their own management tools for removing HTML5.
Third Party Technologies. We also partner with third parties to manage our advertising on other sites and evaluate our overall site performance. Our third party partner may use technologies such as cookies to gather information about your activities on our websites and other sites in order to provide you advertising based upon your browsing activities and interests or help us track the success of our marketing efforts or overall site performance. If you wish to not have this information used for the purpose of serving you interest-based ads, you may opt-out of certain advertising networks. Please note this does not opt you out of being served ads. Typically you will continue to receive generic ads.
If you register as a borrower, Factor Bid will use your information to facilitate your financing or loan request. This may include:
If you register as a finance company, Factor Bid will use your information to facilitate marketplace matching. This may include:
Factor Bid may also use your personal information to select you for certain marketing offers, newsletters, surveys and/or requests for feedback regarding your experience. Factor Bid may use your personal information both to select you for an offer and to communicate that offer to you.
Right to restrict information sharing with companies we own or control (affiliates): Factor Bid may share your information among affiliated companies whether or not those companies are covered by this policy. Federal law gives you the right to limit this sharing in certain circumstances, including where it includes information about your creditworthiness or is used for the purpose of marketing to you. If you would like to opt-out of this type of sharing, please follow the instructions below. We will begin sharing your information 30 days from the date that we first provided this notice if you have not opted-out.
In order to revoke your consent for information sharing with Referral Partners and/or opt-out of Factor Bid affiliate information sharing, please contact us at email@example.com
You can access the personal information you have provided to us by logging in to your account. As a registered user, you can update your password, email, address, phone number or bank account information at any time. To change other information, contact us at info '@' factor.bid and we will respond to your request as soon as possible.
We will retain your information for a minimum of five years and as long as needed to provide you services, comply with our legal obligation, resolve disputes, conduct analysis, audits, or to enforce our agreements or as otherwise required by law.
Factor Bid uses significant safeguards, including physical, technical, and operational controls to protect your personal information, both during transmission and once received. If you have any questions about the security of your information, you can contact us at firstname.lastname@example.org
Factor Bid equips all servers with an Extended Validation (EV) Secure Socket Layer (SSL) certificate to ensure that when you connect to our websites you can tell that you are actually on our site and that all data entered into the websites are transmitted to us in a secure encrypted channel. Once on our system, personal information can only be read or written through defined service access points, the use of which is password-protected. Data security is achieved through technical safeguards that include a combination of firewalls, intrusion detection system, malware detection system, and data loss prevention systems. Factor Bid also conducts vulnerability scans of applications and systems regularly.
Access to the system is tightly controlled and limited to only those who have a need to access information. Administrative safeguards such as a security awareness program and internal information use policy ensure that only trained and trusted staff are permitted to access personal information. Some additional features of our security program include:
We store all sensitive financial information in a state-of-the-art, highly secure data centers that is audited per PCI and/or SOC 2 Type II standards. Physical access to the data center is strictly controlled and we use the latest threat prevention technologies such as network and web application firewalls, VPN, antivirus, Web filtering and anti-spam technologies.
Our system relies on oauth in connection with your Facebook, Twitter or Google account. It is recommended that you take steps to secure these accounts. Including, but not limited to choosing a password that is easy to remember yet difficult to guess, change your password frequently, and do not use this same password on multiple sites.
Factor Bid sends important communications regarding your account via email. You should therefore take steps to secure and restrict access to your email account and change your email account password frequently. You should also be aware of fraudulent emails known as “phishing,” from companies claiming to be Factor Bid and requesting your login information or other account information. Factor Bid will never ask for your login information in an email.
When you are finished using our websites, you should log out completely, then close the browser window and clear the browser’s cache files. This step is particularly important if you use a computer that is accessed by other people, such as in a Internet café or public library.
For additional information, or if you have any questions regarding this policy or the privacy practices at Factor Bid, please submit your questions or comments directly to email@example.com.
You can also send questions or comments to:Factor Bid, LLC.