A study conducted by the Federal Reserve Bank suggests that a new trend in borrowing are loans that act as lines of credit. The Funeral Funding Resource cash advance works like a line of credit and can be renewed as many times as needed, as long as 50 percent of the original loan has been paid off. The Federal Reserve Bank further reports that 57 percent of businesses are choosing cash advances over any other loan.
Everyone knows that loans are always paired with penalties and interest rates, but cash advances work a little differently. Cash advances are awarded and calculated using an estimate of future sales and the businesses repays the loan out of a percent of the sales made on a weekly or biweekly basis. The business enjoys the benefits of using the loan as a line of credit, and monies can be acquired easily by drawing directly from the fund. This financial arrangement is a perfect fit for families that want or need help with funeral costs associated with final arrangements.
|Name and your business name||Name|
|Mailing address||Mailing address|
|Phone and e-mail details||Phone and e-mail details|
|Bank account information||Bank account information|
|Date of birth||Date of birth|
|Social security number||Social security number|
|Income, assets, debt, and other personal and business data||Income, assets, debt, and other financial data|
|Comments you make on blogs and discussion forums on the website||Comments you make on blogs and discussion
forums on the website
|Correspondence with us by email and post||Correspondence with us by email and post|
Funeral Funding Resource collects this personal information from you in order to
- determine the borrower’s eligibility for a loan and the investor’s suitability as an investor;
- obtain, upon your authorization, a credit report, references, and other information from credit bureaus or other third parties in connection with your loan application;
- verify your identity;
- detect and guard against potential fraud;
- manage your Funeral Funding Resource account and update the records we hold about you;
- create a marketplace loan listing on the Funeral Funding Resource website, which includes a Funeral Funding Resource credit grade based on your credit history and financial circumstances;
- process your payments and other transactions;
- develop and improve our website, products, and services;
- enforce our agreements;
- carry out statistical analysis and market research and testing;
- carry out regulatory checks;
- comply with our legal and regulatory obligations;
- make this website available to you and identify products and services which you may be interested in; and
- send periodic emails.
2. How and when is borrower information shared with other parties?
Borrower information collected by or provided to us may be shared with other parties in the following manner:
- To our affiliates.
- To a third party if it acquires all (or substantially all) of our business and/or assets in connection with the acquisition.
- When required by applicable law.
- To display a loan listing on the Funeral Funding Resource website.
- To display information about a borrower to an investor if the investor successfully funds the borrower through the Funeral Funding Resource website.
- To third parties who may be in a position to arrange credit for you
- Information about borrowers may be shared with the borrower’s franchisor (as applicable).
- Information about borrowers may be shared with non-affiliated third parties (“Trusted Partners”) who assist us in operating our website, conducting our business, marketing our products, or servicing you, so long as the Trusted Partners contractually agree to keep this information confidential.
- Information about borrowers may be shared with credit bureaus consumer reporting agencies, collecting agencies and fraud prevention agencies in order to perform checks, trace your whereabouts, or recover debts you owe.
We may also release your information to law enforcement or other government agencies as required by law such as to comply with a subpoena, bankruptcy proceedings, or similar legal process or for the purposes of limiting fraud. In addition, we reserve the right to disclose your information when we believe release is necessary to enforce our site policies or any loan agreement, protect ours or others’ rights, property, or safety, and/or to comply with a judicial proceeding, court order, or legal process.
We may continue to share your information as described in this notice after your customer relationship with us has ended. However, you retain all the rights listed in this Privacy Notice on an ongoing basis, regardless of your status as a current or previous customer.
3. Do we sell your personal information?
We will never sell or rent your personal information to any third party unless you have consented to this. If you do consent, but later change your mind, you may contact us directly using the details described in the Contacting Us section below and we will stop any such activity as soon as reasonably practicable.
While we take appropriate physical, technical and organizational measures to safeguard the personal information that you provide to us, we accept no liability if communications are intercepted by third parties or incorrectly delivered or not delivered.
In addition to our efforts, you can take several precautions to protect your personal information. First, you should choose a strong password. A strong password does not contain information that someone can easily learn about you such as your name or birthday and incorporates a variety of letters, numbers, and special characters. We also recommend that you change your password frequently (every 90 days). You can also install and regularly update firewall and antivirus software to protect your computer. When you are finished using our site, be sure to log out and close the browser window, especially if you are accessing our site from a public computer.
6. Your rights
You have the following rights:
- To update and correct any out-of-date or incorrect personal information that we hold about you free of charge; and
- To opt out of any marketing communications that we or any Trusted Partner to whom we have disclosed your personal information may send you.
If you wish to exercise any of the above rights, please contact us using the details specified below in the Contacting Us section below.
Please note that the Fair Credit Report Act (FCRA) requires each of the nationwide credit reporting agencies—Equifax, Experian, and TransUnion—to provide you with a free copy of your credit report, at your request, once every 12 months. For more information, visit: http://www.ftc.gov.
7. Links to Other Sites
In some cases, these links may be to partner companies with whom we have a business relationship, and who provide compensation to Funeral Funding Resource in return.
8. Notification of Changes
9. Children’s Online Privacy Protection Act
We comply with the requirements of the Children’s Online Privacy Protection Act. We do not knowingly collect personal information from children under the age of the 13. Our website, products, and services are all directed to people who are at least 13 years of age or older.