Privacy Policy
Last Updated: Apr 5, 2024
Aloan Canada Inc. (or Aloan Inc., as applicable by access location) ("Aloan" or "we") maintains a website located at www.aloan.ai (the "Website") that processes applications submitted by: (a) our business partners ("Partners") on behalf of their existing or prospective customers; and (b) individuals directly, for the purpose of securing a loan, lease, financing or credit (the "Services"). Applications are submitted to organizations seeking to fund or provide loans, leases, financing or credit (each a "Lender").
Aloan takes privacy and data security seriously. We are committed to transparency in the collection and use of your personal information. The Privacy Policy below describes the manner in which we process personal information in the course of providing the Services to our Partners, directly to individual applicants, when you visit the website, or otherwise interact with us, and the circumstances under which we may share this information. This Privacy Policy applies to the privacy practices of Aloan on its Website, as well as offline.
Collection and Use of Personal Information
The kinds of personal information that we process, and how we process it, depends on whether we are acting on behalf of our Partners, or whether we are collecting, using, and disclosing personal information for our own purposes.
Information We Process on Behalf of Our Partners
In the course of acting as a service provider and providing the Services, we may collect and process personal information from and on behalf of our Partners as outlined below. We primarily process personal information about our Partners' existing or prospective customers where our Partners submit a loan, lease, financing or credit application on behalf of such customers (each, a "Partner Credit Application"). We require our Partners to ensure that they have the authority to provide personal information to us in accordance with applicable privacy laws.
Partner Credit Applications: Aloan assists its Partners in obtaining loans, leases, financing, or credit for their prospective clients (for example, an individual looking to purchase a car from one of our Partners, a dealership). To do so, our Partners complete and submit a Partner Credit Application on behalf of their prospective customers through our Website. Aloan uses that information on behalf of its Partners to find prospective lenders. If you express interest obtaining a loan, lease, financing or credit to our Partners, our Partners may, with your consent, share your personal information with us, including, your full name, date of birth, phone number, e-mail address, social insurance number, marital status, current and previous home address, details about your desired purchase, loan, or contract, the name of your current employer, work position or title, and your work history (if applicable). We process this information on behalf of our Partners to verify your identity, to assess your eligibility to receive a loan, lease, financing or credit, to obtain commercial or consumer credit reports from credit reporting agencies about you, and to help match the Partner Credit Application submitted on your behalf with prospective lenders.
Information We Collect and Use on Our Own Behalf
In providing the Services, we may collect, use, and disclose personal information on our own behalf. If you visit our Website, we may collect, use and disclose your personal information to allow you to submit a loan, lease, financing or credit application on your own behalf, or to provide supplementary information for an existing Partner Credit Application (each, an "Individual Credit Application"). You may also provide us with personal information for other purposes such as in connection with visits to our Website, work opportunities, and surveys.
Account Registration: To submit an Individual Credit Application, you must register for an account on our Website. If you receive a text message from us in relation to an existing Partner Credit Application, you may create an account by clicking the link. We use this information to administer your account, and to allow you to submit and monitor the status of an Individual Credit Application.
Individual Credit Applications: If you register an account, you can choose to complete and submit an Individual Credit Application. To do so, we may collect personal information including your full name, date of birth, phone number, e-mail address, social insurance number, marital status, current and previous home address, details about your desired purchase, loan, or contract, the name of your current employer, work position or title, and your work history (if applicable). Some of this information may already be available to us from an existing Partner Credit Application, and so may be pre-populated into an Individual Credit Application. While Individual Credit Applications can be submitted using the above information, we may be able to offer you additional lender options if you choose to provide us with additional personal information. This additional information could include, for example, information that verifies your income (including pay stubs, notices of assessment, or other records about your financial situation). You can also connect or "link" your bank account to your Aloan account. If you do so, we will receive personal information contained in your bank accounts, including account number, type of account, bank statements, individual transaction information, the account, the names of any joint-account holders, your relationship with any joint-account holders, and a complete record of all transactions in your bank accounts over the last 365 days. If one of your banks is not listed on our Website, we may collect the name of the institution that you bank with. We use this information to evaluate which banks to include in future updates to our services. We use this information to review your Individual Credit Application, to assist you in obtaining a loan, lease, financing or credit, to try and match your Individual Credit Application with prospective lenders, and to improve the accuracy and performance of our loan application evaluation software.
Credit Checks: If you are assessed as being provisionally eligible to receive a loan, lease, financing or credit, Aloan may, with your consent, use your personal information, including the information you have provided as part of an Individual Loan Application, to obtain commercial or consumer credit reports from credit reporting to confirm your eligibility for the loan, lease, financing or credit.
Credit Approval: If you are approved for a loan by a lender, Aloan may collect further information from you to process the approval of the loan, lease, financing or credit, and to allow a lender to arrange for payment or repayment, including government issued identification, references, payment information, vehicle registration and insurance, and additional information about the product or service for which you require a loan, lease, financing, or credit (for example, the make and model of vehicle which you are interested in purchasing or leasing).
Marketing Communications: You may select if you wish to receive email marketing communications with updates and other information regarding Aloan by providing us with your email. You can opt out of receiving marketing emails from us using the opt-out or "unsubscribe" instructions provided in the communication. Alternatively, you may contact our Privacy Officer at privacy@aloan.ai. You can also unsubscribe from our text-message communications by following the instructions in those communications, or by contacting our Privacy Officer at privacy@aloan.ai.
Surveys and Customer Research: From time to time, we may offer you the opportunity to participate in one of our surveys or other customer research. The information obtained through our surveys and customer research is used in an aggregated, non-personally identifiable form. We use this information to help us understand our Customers, to enhance our product and service offerings, and promotions and events.
Contact Us: When you contact us with a comment, question, complaint or regarding the status of your loan application or loan, we may collect the information you provide, along with additional information that we may need to help us promptly respond to your inquiry.