Privacy Policy for InnoFi Consumer Loan Services
Effective Date: Jan 1, 2025
InnoFi (“Company,” “we,” “our,” or “us”) respects your privacy and is committed to protecting it through compliance with this Privacy Policy. This policy describes the types of information we may collect from you or that you may provide when you visit our website www.innofi.com (“Website”) or use our services, including any SMS/text messaging services (collectively, the “Services”), and our practices for collecting, using, maintaining, protecting, and disclosing that information.
1. Information We Collect
We may collect several types of information from and about users of our Website and Services, including:
a. Personal Information
Name
Contact information (address, email, phone number)
Date of birth
Social Security Number (SSN)
Employment and income information
Banking details and account numbers
b. Non-Personal Information
IP address
Browser type
Operating system
Device information
Browsing actions and patterns
c. Sensitive Information
Certain financial or credit-related information necessary to evaluate your loan application.
d. Information from Third Parties
Credit reports from credit bureaus
Verification data from employers, financial institutions, and other entities
e. SMS/Text Messaging Information
If you opt in to receive SMS/text messages from us, we may collect:
Your mobile phone number
Message content you send to us (e.g., replies or questions)
Records of SMS interactions (time, date, and frequency of messages)
2. How We Collect Information
a. Directly From You
Through loan applications, online forms, communications, and SMS opt-in mechanisms (e.g., texting a keyword to our short code or providing your mobile number on a web form).
b. Automatically
Using cookies, web beacons, and other tracking technologies on our Website.
c. From Third-Party Sources
Using cookies, web beacons, and other tracking technologies on our Website.
c. From Third-Party Sources
Credit bureaus, financial institutions, and service providers.
3. Use of Your Information
We may use your information for the following purposes:
Loan Processing
To process your loan applications.
Verification
To verify your identity and assess creditworthiness.
Customer Support
To provide support and respond to inquiries.
Account & Payment Notifications
To send notifications about your account, including payment reminders and updates.
SMS Messaging
If you opt in, we may send text messages as needed for account servicing (e.g., loan updates, payment reminders, or important notices).
The frequency of these messages may vary based on your account activity.
You can opt out at any time by replying “STOP” to any SMS message you receive. Standard message and data rates may apply.
Compliance
To comply with legal and regulatory requirements.
Website & Experience Improvement
To improve our Website and enhance customer experience.
Marketing
For marketing purposes, where permitted by law (you can opt out of marketing communications at any time).
4. Sharing of Your Information
We do not sell your personal information. However, we may share your information as follows:
a. With Service Providers
Third-party vendors who perform services on our behalf, such as:
Credit bureaus
Payment processors
IT service providers
b. With Regulatory Bodies
To comply with applicable laws and regulations or to respond to subpoenas or court orders.
c. With Affiliates and Partners
For joint marketing purposes and other business-related activities.
d. In Business Transactions
In the event of a merger, sale, or transfer of assets.
e. SMS/Test Messaging Data
We do not share or sell SMS opt-in data or consent with any third party for marketing or promotional purposes.
All the above categories exclude text messaging originator opt-in data and consent; this information will not be shared with any third parties.
5. Your Privacy Choices
a. Access and Correction
You can access and update your personal information by contacting us at customercare@innofi.com or calling us at (800) 892-9925 or (801) 980-1926.
b. Marketing Opt-Out
You can opt out of marketing communications by following the instructions in the communication or contacting us directly.
c. Cookies
You can manage your cookie preferences through your browser settings.
d. Do Not Sell My Information
We honor all valid requests submitted under applicable laws, such as the California Consumer Privacy Act (CCPA).
e. SMS Opt-Out
If you have opted in to receive SMS messages from us, you can opt out at any time by replying “STOP” to any SMS message you receive or by contacting us at customercare@innofi.com or (800) 892-9925 / (801) 980-1926.
6. Security Measures
We implement industry-standard measures to protect your personal information, including:
Encryption during data transmission
Secure servers and firewalls
Regular audits and vulnerability assessments
However, no system is entirely secure, and we cannot guarantee the absolute security of your information.
7. Children’s Privacy
Our Services are not directed at children under 13, and we do not knowingly collect personal information from them. If we become aware that we have collected such information, we will delete it promptly.
8. International Data Transfers
If you are accessing our Services from outside the United States, your information may be transferred to, stored, or processed in the U.S. By using our Services, you consent to this transfer.
9. Third-Party Links
Our Website may include links to third-party websites. We are not responsible for the privacy practices of these websites and encourage you to review their privacy policies.
10. Your Rights Under Applicable Laws
Depending on your location, you may have additional rights regarding your personal information, such as:
The right to access and request copies of your information
The right to request deletion or correction of your information
The right to data portability
11. Retention of Information
We retain personal information as long as necessary to fulfill the purposes outlined in this policy or as required by law.
12. Changes to This Privacy Policy
We may update this policy periodically. We will notify you of material changes by email or through a notice on our Website.
13. Contact Us
If you have questions or concerns about this Privacy Policy or our data practices, please contact us at:
Email: customercare@innofi.com
Phone: (800) 892-9925 or (801) 980-1926
Mail: 11456 Temple Dr., Suite 201, South Jordan, UT 84095
By using our Services or Website, you acknowledge that you have read and understood this Privacy Policy.
14. Compliance with SMS Laws (U.S. and Canada)
If you are located in the United States or Canada, we comply with applicable laws and regulations governing SMS privacy, including the Telephone Consumer Protection Act (TCPA) in the U.S. and the Canadian Anti-Spam Legislation (CASL) in Canada. By opting in to receive SMS messages from us, you consent to these laws’ requirements and our related data practices.
SMS Terms and Conditions
Location
11456 Temple Dr., Suite 201
South Jordan, UT 84095
Contact
customercare@innofi.com
(800) 892-9925 or (801) 980-1926
By using our services or Website, you acknowledge that you have read and understood this Privacy Policy.