Privacy Policy

Funding Hive is a trading name of Approved Business Finance Ltd (“we”, “us”, “our”). Approved Business Finance Ltd is committed to protecting your privacy and ensuring that your personal information is handled fairly, lawfully, and transparently in accordance with the UK General Data Protection Regulation (UK GDPR), the Data Protection Act 2018, and the requirements of the Financial Conduct Authority (FCA).

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2. WHO WE ARE

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Funding Hive is a trading name of Approved Business Finance Ltd, an independent, FCA-authorised credit broker, not a lender.

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We work with a wide panel of finance providers to find funding solutions that meet your needs and circumstances.

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Company Name: Approved Business Finance Ltd
Trading Name: Funding Hive
Registered Office: Seebeck House, Seebeck Place, Milton Keynes, MK5 8FR
Company Number: 11914104
FCA Firm Reference Number: 1020031
ICO Registration Number: ZB424677
Contact: compliance@approvedbusinessfinance.co.uk

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3. PURPOSE OF THIS NOTICE

 

This Privacy Notice explains:

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• What personal data we collect about you

• How and why we use your data

• Who we share your data with

• How we keep your data secure

• What rights you have under data protection law

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4. WHY WE PROCESS YOUR DATA

 

We process your personal data to:

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• Respond to your enquiries about finance products or services

• Assess your eligibility for credit and identify suitable finance options

• Conduct anti-money laundering, fraud prevention, and identity checks

• Submit finance applications to lenders on your behalf

• Meet our obligations as an FCA-regulated credit broker

• Manage our ongoing relationship with you and improve our service delivery

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5. LAWFUL BASES FOR PROCESSING

 

We use your personal data under one or more of the following lawful bases:

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• Contract: to take steps at your request before entering into, or to perform, a contract with you.

• Legal Obligation: to comply with regulatory and legal requirements (e.g. FCA, HMRC, AML).

• Legitimate Interests: to operate and manage our business efficiently, and to improve our products and services.

• Consent: where you have explicitly agreed (for example, to receive marketing communications or for us to process special category data).

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You have the right to withdraw your consent to marketing at any time. If you no longer wish to receive marketing communications from Funding Hive, a trading name of Approved Business Finance Ltd, you can withdraw consent at any time by emailing compliance@approved-finance.co.uk.

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6. PERSONAL DATA WE COLLECT

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We may collect, use, and store the following categories of personal data:

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• Identity Data: full name, date of birth, marital status, proof of ID (passport, driving licence).

• Contact Data: address, email address, and telephone numbers.

• Financial Data: bank details, income, expenditure, and financial statements.

• Transaction Data: details of services or products provided to you.

• Technical Data: IP address, browser information, and website usage (via cookies).

• Marketing Data: communication and marketing preferences.

• Special Category Data: such as health information, only where required for accessibility adjustments and with your explicit consent.

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7. HOW WE COLLECT YOUR DATA

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We may collect your data:

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• Directly from you (through calls, emails, web forms, or meetings)

• From introducers, accountants, or partners (where you have consented)

• From lenders, funders, or finance providers involved in your application

• From public sources such as Companies House, the Electoral Register, or credit reference agencies

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8. HOW WE USE AND SHARE YOUR DATA

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We only share your data when it is necessary, lawful, and relevant to providing our services.

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Your data may be shared with:

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• Lenders and funding partners to assess and process finance applications

• Credit reference and fraud prevention agencies to confirm identity and creditworthiness

• Regulatory bodies, such as the FCA or the Information Commissioner’s Office (ICO), where required

• Professional advisers and IT providers who support our business operations under strict data protection agreements

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All third parties are required to maintain adequate security and only use your information in accordance with our instructions and applicable law.

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9. AUTOMATED DECISION-MAKING

 

We do not make decisions based solely on automated processing.

However, some lenders may use automated credit scoring to assess finance applications. Where this occurs, the lender will inform you and obtain consent if required.

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10. RETENTION OF YOUR DATA

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We retain your personal data for six years from the end of your relationship with us or the completion of any credit facility, in line with FCA and legal record keeping obligations.

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After this period, data may be anonymised and retained for statistical or analytical purposes.

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11. YOUR DATA PROTECTION RIGHTS

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Under data protection law, you have the right to:

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• Right to be informed – to know how your personal data is collected and used.

• Right of access – to request copies of the personal data we hold about you.

• Right to rectification – to request correction of inaccurate or incomplete data.

• Right to erasure – to request deletion of your personal data where applicable.

• Right to restrict processing – to request that we limit how we use your data.

• Right to data portability – to request transfer of your data to another organisation.

• Right to object – including the absolute right to object to direct marketing.

• Rights related to automated decision-making and profiling – you can object to your data being used solely for automated decisions (without human involvement) and to profiling activities.

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To exercise any of these rights, contact compliance@approved-finance.co.uk.

We will respond within one month of receiving your request.

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12. DATA SECURITY

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We apply appropriate technical and organisational measures to protect your personal data against loss, misuse, unauthorised access, alteration, or disclosure.

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Access is limited to employees and third parties who require it for legitimate business purposes, and they are subject to strict confidentiality obligations.

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13. COOKIES AND WEBSITE TRACKING

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We use cookies to improve your online experience and website functionality. You can adjust your browser settings to refuse cookies, though this may impact certain features of our website.

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For further information, contact compliance@approved-finance.co.uk.

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14. COMPLAINTS

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If you have any concerns about how Funding Hive, a trading name of Approved Business Finance Ltd, handles your personal data, please contact our Compliance Team at compliance@approved-finance.co.uk.

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You also have the right to complain to the Information Commissioner’s Office (ICO):

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Information Commissioner’s Office
Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF
Helpline: 0303 123 1113
Website: www.ico.org.uk

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15. CHILDREN’S INFORMATION

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We do not provide services directly to children and do not knowingly collect their personal data.

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16. UPDATES TO THIS NOTICE

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We review this notice regularly to ensure ongoing compliance with FCA and data protection regulations.

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Funding Hive is a trading name of Approved Business Finance Ltd, and any updates to this Privacy Notice will be published on our website.