Last updated: 24th May 2022
The Data Protection Act 2018 (DPA) and the General Data Protection Regulation (GDPR)
define that companies and individuals who process and retain personal information about
their customers must inform those customers how the information will be used.
2. Who Are We?
2.1 Our company
Loanza ® is a registered trading name of Stop Go Networks Limited, a firm registered in Scotland (Company number SC380072). We are directly authorised by the Financial Conduct Authority (firm reference number 729572) and licensed by the Information Commissioner's Office (registration number Z2282935) to hold and process personal data on behalf of our customers.
2.2 Our service
When you search for a loan with us, a soft search (i.e. check to determine how likely you will be able to
repay the credit) will be carried out on your credit file to match you with the most suitable lender(s)
or broker(s) ("Partners") on the panel. These Partners may also carry out a soft search to assess
your eligibility for the product you are applying for. These searches will only be visible to you
and they will not affect your credit rating.
If your loan search is successful, you will either be re-directed immediately to a Partner's website to complete your application, or we may present you with loan offers that you could be eligible for. If you continue with any of these offers, you will then be taken to our Partner's website to complete your application.
Personal Loans & Car Finance:
Our aim is to help find you offers for loans. We sort these offers based on our "Recommended" algorithm which includes factors such as the likelihood of our lender partners being able to fund a loan to the borrower, chance of approval and the rate being offered. Once any offers are displayed, you will then have the option to sort your offers based on total repayment, monthly repayment or APR. If you decide to take a loan via Loanza and are approved by your chosen lender (subject to further lender checks), they will pay us a commission. This does not influence the quotes that we provide you with or the order they are displayed in.
3. Your Data
3.1. What personal data do we collect?
We collect various personal data from you in a number of different ways:
3.2. Why do we collect this information?
When you submit your personal data we collect this information so we can give you the best possible service.
We will try and introduce you to a lender, broker or alternative solution provider, according to your request,
and to comply with certain financial services regulations. The information is required to:
In order to perform our service, we need to share your information electronically with the following third parties, operating
as data controllers or data processors:
With your explicit consent, we may use your personal data to provide you with information about related
products and services which may be of interest to you.
With your explicit consent we may also share your personal information in an electronic form for marketing purposes to third parties offering related products and services which we think may be of interest to you:
3.5. Data security and retention
We understand that the privacy and security of your personal data is of great importance and therefore
we have implemented technology, security policies, rules and controls to protect your information.
We and our third parties will only retain personal data for as long as necessary. In accordance with legislation, personal data related to loan applications may be retained for up to six years.
Personal data related to requests to be removed from marketing lists will be retained indefinitely.
3.6. Where will your personal data be held?
Your personal data may be held within the European Economic Area (EEA) or outside the EEA. If any personal data is transferred or stored outside of the EEA, we check whether the EU Commission has determined that it will be afforded the same level of protection as it would within the EEA (this is called an adequacy decision).
4. Your Rights
4.1. Right to access
You have the right to access the personal data we hold about you. You can request this by using our contact page. We may charge a fee for manifestly unfounded or excessive requests.
4.2. Right to rectify your personal data
If you notice that the information we hold about you is not correct, you may ask us to change it to make sure that it is accurate and up to date. You can request this by using our contact page.
4.3. Right to be forgotten
You may ask us to delete your personal data. It may not be possible where we are required to retain your data. You can request this by using our contact page.
4.4. Automated decisions
We use automated algorithms to process the personal data you provide to us to select a lender, broker or alternative solution provider.
4.5. Other rights
You may also ask us to stop or restrict our processing of your personal data or to transfer your personal information to a third party in certain circumstances. You can request this by using our contact page.
4.6. The right to lodge a complaint with a supervisory authority
You have the right to lodge a complaint with us directly and/or with a supervisory authority. In the UK the relevant authority is the Information Commissioner's Office (ICO). You can find their contact details here: https://ico.org.uk/global/contact-us/