Privacy Policy
1. Introduction
Finerate Ventures Ltd (“Finerate Ventures”, “we”, “our” or “us”) is committed to protecting the privacy and personal information of our customers, loan applicants, business partners and website visitors.
This Privacy Policy explains how we collect, use, store, protect and share personal information when you visit our website, contact us, apply for a loan or use our services.
We handle personal information in accordance with applicable Kenyan data protection laws, including the Data Protection Act, 2019, and relevant regulations.
2. Information We Collect
Depending on the services you request, we may collect the following categories of information:
- Personal identification information: Full name, national identification details, telephone number, email address and other identification information required for verification.
- Business information: Business name, location, nature of operations, business records and other details necessary to assess a loan application.
- Financial information: M-Pesa statements, relevant transaction records, income details, repayment history and other financial information necessary for credit assessment.
- Loan application information: Requested loan amount, intended use of funds, supporting documents and information obtained during business verification.
- Website information: Information submitted through website forms and limited technical information collected through cookies or similar technologies, where applicable.
We aim to collect only information that is relevant and necessary for the purposes explained in this policy.
3. How We Use Your Information
We may use your personal information to:
- Receive, review and process loan applications.
- Verify your identity, business operations and application details.
- Assess creditworthiness, repayment capacity and lending risks.
- Communicate application decisions, loan terms, repayment information and service updates.
- Administer loans, process payments and maintain accurate customer records.
- Respond to enquiries, complaints and requests for assistance.
- Prevent fraud, detect suspicious activity and protect our business and customers.
- Meet applicable legal, regulatory, accounting and reporting obligations.
- Improve our website, services and customer experience.
Where required by law, we will obtain your consent before undertaking processing that depends on consent.
4. Lawful Basis for Processing
We process personal information where we have a lawful basis to do so. Depending on the circumstances, this may include your consent, taking steps at your request before entering into a contract, performing a contract, complying with a legal obligation or pursuing another lawful basis permitted under applicable law.
Where we rely on consent, you may withdraw it, subject to applicable legal requirements and any lawful grounds for continued processing.
5. Sharing of Information
We do not sell your personal information to third parties.
Where necessary and lawful, we may share relevant information with:
- Employees and authorised loan officers involved in application processing and customer service.
- Service providers supporting our website, information systems, communications, payment processing and record management.
- Banks, mobile money providers and payment service providers where required to facilitate transactions.
- Credit reference bureaus or other authorised credit-information providers, where legally permitted and applicable.
- Professional advisers, auditors, regulators, law enforcement agencies or courts where required or authorised by law.
We require relevant service providers and authorised recipients to handle personal information appropriately and in accordance with applicable obligations.
6. Protection of Personal Information
We take reasonable technical, organisational and administrative measures to protect personal information against unauthorised access, disclosure, alteration, loss or destruction.
These measures may include access controls, secure storage, staff confidentiality obligations and appropriate safeguards for electronic records.
Although we work to safeguard your information, no electronic transmission or storage system can be guaranteed to be completely secure.
7. Data Retention
We retain personal information only for as long as reasonably necessary for the purposes for which it was collected, including servicing loans, maintaining business records, resolving disputes and complying with legal or regulatory requirements.
When information is no longer required, we will take appropriate steps to delete, anonymise or securely dispose of it, subject to any applicable retention obligations.
8. Your Data Protection Rights
Subject to applicable law, you may have the right to:
- Be informed about how your personal information is used.
- Request access to personal information we hold about you.
- Request correction of inaccurate, incomplete or misleading information.
- Request deletion of personal information where legally applicable.
- Object to certain processing of your personal information.
- Request restriction of processing in circumstances provided by law.
- Withdraw consent where processing is based on consent.
- Lodge a complaint with the Office of the Data Protection Commissioner in Kenya.
To exercise your rights, contact us using the details provided below. We may need to verify your identity before acting on a request.
9. Cookies and Website Technologies
Our website may use cookies or similar technologies to support functionality, understand website usage and improve performance.
You can manage cookies through your browser settings. Disabling certain cookies may affect some website features. Where required, we will seek consent before using non-essential cookies.
10. Third-Party Websites
Our website may contain links to external websites or services. Finerate Ventures is not responsible for the privacy practices or content of third-party websites. We encourage you to review their privacy policies before sharing personal information.
11. Changes to This Policy
We may update this Privacy Policy to reflect changes in our operations, services, technology or applicable law. Updated versions will be published on our website with a revised effective or updated date.
12. Contact Us
For privacy-related enquiries, access requests, corrections or concerns about the handling of your personal information, please contact:
Finerate Ventures Ltd
Office: Kenwood Business Plaza, Kiambu Town, Kenya
Telephone/WhatsApp: 0705 819 774
Email: info@finerateventures.co.ke
Website: https://finerateventures.co.ke/
If you are dissatisfied with how a data protection concern has been handled, you may also contact the Office of the Data Protection Commissioner through its official website: https://www.odpc.go.ke/
