Olive Funding is a trading name of Olive Finance Group LTD (“Olive Funding”, “we”, “us”, or “our”). We are a UK commercial finance broker. We are committed to protecting your personal data and being transparent about how we collect and use it.
1) Who we are (Data Controller)
Controller: Olive Finance Group LTD (T/A Olive Funding)
As a commercial finance broker, we act as the data controller for all activities relating to assessing applications, underwriting, funding, ongoing monitoring, collections and communication.
We use third-party service providers for checks and operational support (e.g., KYC/AML, credit agencies, open banking), but we remain the controller for all personal data processed for our brokering activities.
2) Whose data we process
We may process personal data relating to:
Prospective customers (limited companies)
Company directors, beneficial owners and authorised representatives
Existing and former borrowers
Individuals who contact us or visit our website
Business partners and suppliers
We do not provide consumer lending and do not knowingly collect personal data for consumer credit purposes.
3) Personal data we collect
To assess, fund and service your facility, we collect the following categories of data:
Identity & contact data
Name, job title, date of birth, address, phone, email.
Business & financial data
Company name/number, trading history, bank statements, merchant statements, revenue data, tax information, liabilities, invoices, open banking financial data.
Underwriting & compliance data
Credit history, affordability assessments, KYC/AML checks, beneficial ownership data, sanctions and PEP screening outcomes, fraud-prevention results.
Funding & repayment data
Funding requirements, offers made, executed agreements, repayment performance, daily/weekly collections, communication history, defaults or arrears information.
We collect data directly from you, your business, your advisers, or via authorised integrations (e.g., open banking).
We also receive information from third parties such as:
Credit reference agencies
Fraud-prevention and AML screening providers
Bank-connect/open banking platforms
Accountants or brokers acting on your behalf
Public sources (e.g., Companies House)
4) Purposes and lawful bases for processing
We only process personal data where we have a lawful basis under UK GDPR.
Performance of a contract
To assess eligibility, underwrite your business, provide funding, manage your account, collect repayments and deliver customer support.
Legitimate interests
To operate and improve our lending operations, perform risk analysis, prevent fraud, protect our business from financial loss, manage collections, ensure information security, and carry out internal reporting/analytics.
Legal obligations
To comply with AML/CTF regulations, sanctions screening, record-keeping duties, regulatory reporting, tax and accounting requirements.
Consent
Used only where required (e.g., certain marketing communications or optional cookies).
If we rely on consent, you may withdraw it at any time.
5) Sharing your data
We share your information with specific categories of third parties to provide our services, fulfill legal obligations, and facilitate business financing. These include:
Lenders and Financial Partners: To facilitate applications for business loans (secured and unsecured) and to allow these partners to assess your creditworthiness and eligibility for financial products.
Credit Reference and Fraud Prevention Agencies: To verify your identity, perform credit checks (which may include “soft searches”), and prevent financial crime.
Open Banking and Financial Data Providers: Where you choose to link your accounts, we use these services to securely share transaction history with potential lenders to support your application.
KYC/AML and Sanctions Screening Providers: To carry out necessary “Know Your Customer” and Anti-Money Laundering checks required by our partners or by law.
Third-Party Technology Platforms: Including our CRM, cloud storage, e-signature tools, and communication systems that help us manage your application and secure your data.
Professional Advisers: Such as lawyers, auditors, and accountants, when necessary for legal advice or business reporting.
Debt Recovery and Enforcement Partners: Should repayment issues arise, data may be shared to manage and recover outstanding debts.
Regulators and Public Authorities: Where we are legally required to disclose information to law enforcement or government bodies.
Note on Independent Controllers: Some partners, such as lenders and credit reference agencies, will act as independent “Data Controllers” once they receive your data. They will process your information according to their own privacy policies, which we recommend you review.
6) International transfers
Some third parties may store or process data outside the UK.
Where transfers occur, we ensure appropriate safeguards are used, such as:
UK adequacy decisions
UK IDTA (International Data Transfer Agreement)
Standard Contractual Clauses (SCCs)
Additional technical/organisational measures
7) Data retention
We retain data only as long as required for the purposes described, including regulatory, accounting and legal requirements.
Typical retention periods:
Borrower files & underwriting records: up to 6 years after the agreement ends or last activity (longer if required due to disputes or legal obligations).
Prospects/enquiries: up to 24 months from last meaningful interaction.
Marketing data: until you opt out or it is no longer required.
Website/cookie data: in line with our Cookie Notice.
We may retain certain data longer where necessary for legal claims or regulatory investigations.
8) Your rights
You have the following rights under UK data protection law:
Access your personal data
Rectify inaccurate information
Request erasure (in certain circumstances)
Restrict processing
Object to processing based on legitimate interests (including direct marketing)
Data portability (where applicable)
Withdraw consent (where processing is based on consent)
We may send marketing communications relating to Olive Funding’s services where legally permitted (e.g., to corporate subscribers or where consent has been provided).
You can opt out at any time using the unsubscribe link or by contacting us.
10) Credit, affordability and fraud checks
As a direct lender, Olive Funding performs its own underwriting and compliance checks. This may include:
Credit searches on directors/owners
Company credit history
Bank and revenue analysis (including open banking)
Fraud-prevention checks
AML, sanctions and PEP screening
Some checks may leave a footprint.
Where automated decision-making is used, you may request human review.
11) Cookies and analytics
We use cookies to operate our site, analyse performance, and improve user experience.
See our Cookie Notice for details of specific cookies, purposes and how to manage them.
12) Security
We maintain industry-standard technical and organisational measures to protect personal data against unauthorised access, loss or misuse.
Despite our efforts, no online system can be completely secure.
13) Third-party links
Our site may include links to third-party websites.
We do not control those sites and are not responsible for their privacy practices.
14) Changes to this Policy
We may update this Privacy Policy from time to time.
The current version is always available on our website and includes the effective date above.
Significant changes may be communicated directly by email.
