Your privacy matters
At Lula Lend (Pty) Ltd (Reg No. 2014/156767/07) (“Lula”) we value your privacy and understand that your trust is fundamental to our business. We are committed to protecting the privacy and security of your personal information. We are dedicated to being transparent about our data practices and this privacy statement explains how we collect, use, share and secure your personal information.
Who we are
We specialize in empowering small and medium enterprises through smart funding and banking solutions. As a fintech company we are dedicated to revolutionizing business banking and funding for Small and Medium-sized Enterprises (SMEs). Driven by a passion to empower every SME to succeed, we provide fast, easy, and transparent access to capital and innovative financial management tools.
Personal information that we collect
Depending how you interact with us or what services or products of ours you use, we will collect the following personal information that relates to you:
- your name, surname, identity/passport number, contact information (email, telephone etc.) and residential/postal address;
- your age, gender, martial status, ethnicity (for statistical purposes), national origin, language and birth;
- Financial information which may include income, expenditure, assets and liabilities, liabilities and lending;
- Banking information including account number and transactional behaviour;
- Retail and other account information such as insurance, clothing, utilities etc (this includes any identifying numbers related to those accounts);
- Where applicable, your employment information and other information reflected on your curriculum vitae (CV);
- In the event that you are also representing a juristic person (company, close corporation, trust or similar entity) we also collect information relating to that entity. This include:
- Registration and Identifying Information: Such as your registered company name, registration number, Companies and Intellectual Property Commission (CIPC) documentation, and other official identifying details;
- Member, Partner, Director, Trustee and Shareholder information: This includes the name, surname, identity number, physical/residential address and other contact information;
- Related persons: We will also process personal information of other persons related to the juristic person such as representatives, employees, guarantors, sureties, spouses of sureties and other security providers;
- Contact Information: Including the business’s physical and postal addresses, email addresses, and telephone numbers;
- Financial Information: This encompasses your business’s financial statements, bank account details, credit history, information related to assets and liabilities, and other financial data;
- Tax Information: Such as your business’s VAT registration number, tax compliance status, and related documentation;
- Operational Information: Details about your business operations, structure, industry, and other information relevant to our service provision;
- Online Identifiers: Such as the business’s IP addresses or other identifiers used when your business interacts with our online platforms;
- Details related to how you accessed our website or application such as your URL and other traffic data as well as details regarding the device, device manufacturer, operator and device settings (for more information please refer your device manufacturer details and settings);
- We use cookies and similar technologies on our website and online platforms. Cookies are small text files stored on your device that help our site work, enhance your experience, and allow us to analyse site usage and improve security.
Through cookies, we may automatically collect information such as your IP address, browser type, device information, and how you interact with our services (e.g., pages visited, actions taken). This information helps us provide and improve our business funding and banking services.
You can manage your cookie preferences through your browser settings. However, disabling certain cookies may affect the functionality of our services. For more details, please see our cookie policy (link);
How we collect your personal information
We collect information about you from different sources which include the following:
- Our business:
- When your business applies for one of our funding or banking products and you are a director, member, partner, shareholder, employee, representative or other related person to that business;
- This information will be provided by an authorised representative of that business.
- From third parties:
- Credit Bureaus: To conduct creditworthiness assessments for you (where you are a sole proprietor) or your business and, where applicable and with necessary consents, for individuals associated with your business (such as directors or sureties).
- Public Records: From official public sources such as CIPC, government gazettes, the Deeds Office, and other regulatory bodies.
- Fraud Prevention Agencies: To prevent and detect fraud and financial crime.
- Banks and Other Financial Institutions: With your explicit consent or where legally permitted, for purposes such as verifying bank account information or financial history.
- Our Service Providers and Business Partners: Who may collect or provide information on our behalf or with whom we collaborate to offer services (e.g., identity verification services, payment processors).
- Introducers or Referrers: If you were introduced to us by a third party.
- Publicly Available Information: From sources such as public websites, social media (where relevant and permissible under applicable law), and online databases, primarily to supplement or verify information.
Automatically When You Use Our Services or Platforms:
- Cookies and Tracking Technologies: As detailed in our Cookies policy, we collect information automatically when you interact with our website, mobile applications, and online platforms. This may include your IP address, device information, browser type, and browser activity.
- Usage Data: Information about how you use our services, including transaction history, login information, and interaction patterns with our digital platforms.
How we use your personal information
We are committed to using your personal information lawfully, fairly, and transparently for specified, explicit, and legitimate purposes. We collect and process your personal information (which includes information about identifiable natural persons and, where applicable, identifiable existing juristic persons) for the following purposes:
Providing Our Services to You and Your Business:
- To onboard you or your business as a client, including opening and managing your accounts;
- To process applications for business funding, banking accounts, and other financial products or services we offer;
- To conduct creditworthiness assessments and manage credit risk for your business and, where applicable, associated individuals.
- To process your transactions, instructions, and payments;
- To communicate with you about your account, applications, our services, and any updates to our terms or offerings;
- To provide customer support, respond to your inquiries, and resolve complaints;
- To otherwise manage your account with us.
Meeting Our Legal and Regulatory Obligations:
- We collect and process your information to comply with legal and regulatory obligations which may apply to us or any of our partners with whom we have partnered to provide our products.
- To detect, prevent, investigate, and report potentially fraudulent, illicit, or suspicious activities.
- To comply with requests from law enforcement and/or other regulatory bodies;
- To maintain records as required by applicable laws as well as our business operational requirements;
Managing Risk and Security:
- To ensure the security of our platforms, systems, and services, and to protect your information.
- To identify, assess, and manage other operational and business risks and improving our Products and Services:
- To analyse how our website, platforms, and services are used, enabling us to improve their functionality, user experience, and performance;
- For internal research, development of new financial products and services, and enhancement of existing ones;
- To gather feedback from you through surveys or other means to understand your needs and improve our offerings;
- Marketing and Communications (where permissible and with your consent, if required):
- To inform you about products, services, special offers, or events that we believe may be of interest to you or your business.
- To send you newsletters, industry insights, or other relevant communications.
- You will always have the option to opt-out of receiving direct marketing communications from us.
- To generate aggregated and anonymized statistical data for business analysis and reporting (this data will not identify you personally);
- To enforce our terms and conditions, agreements, or other legal rights;
- Instances where the use of your information would protect a legitimate interest of you, us or a third party;
- For debt recovery purposes.
We will only use your personal information for the purposes for which it was collected, or for reasonably compatible purposes, unless we have your consent or are otherwise permitted or required by law to use it for other purposes. If we need to use your personal information for an unrelated purpose, we will notify you and explain the legal basis which allows us to do so.
Obligation to share your personal information with us
There is no direct obligation on you to share your personal information with us but in order for us to provide you with our products or services we need to collect and process your personal information. If you choose not to share your personal information with us we will not be able to provide you with any of our products or services.
How your personal information may be shared or disclosed
We do not generally share your personal information with third parties but there are instances we may do due to regulatory/legal obligations, business obligations or services providers in order to provide you with our products or services. This will include the following:
Credit Bureaus:
- We will share information regarding the management of your funding and/or banking account with regulated credit bureaus.
- Law enforcement, regulatory authorities, and/or other government bodies
- We may disclose your personal information to regulatory bodies (such as the Financial Intelligence Centre (FIC), the South African Reserve Bank (SARB), the Financial Sector Conduct Authority (FSCA), the South African Revenue Service (SARS)), law enforcement agencies, courts, tribunals, or other governmental bodies when required to do so by law, court order, or other legal process, or if we believe in good faith that such disclosure is necessary to comply with a legal obligation, protect our rights or property, or ensure the safety of our customers or the public;
- Debt Collection Agencies
- If amounts owed to us are not paid, we may share necessary information with external debt collection agencies for the purpose of recovering outstanding debts;
- Service Providers
- We will share your information with our service providers that we may use in order to provide our products and services to you this may include communications services, network and other infrastructure solutions;
- We also share your information with service providers to verify and assess information about you in order for us to comply with certain regulatory obligations.
- With your consent we may also share your information with our commercial partners to contact you to market their products and/or services;
Cross-border transfer of your personal information
In order to provide our products and services, your personal information may be transferred to and processed in countries outside of South Africa, including where our third-party service providers operate. We are committed to ensuring any such international transfer complies with POPIA and that the countries where your information is transferred has adequate data protection laws and/or that the transfer is in terms of an agreement which provides for an adequate level of protection.
We protect your personal information
We are committed to protecting your personal information by implementing appropriate, reasonable technical and organisational measures to prevent its loss, damage, unauthorised destruction, or unlawful access. These include technological, physical, and procedural safeguards designed to secure your data. Our security practices are regularly reviewed and updated to address evolving risks.
Know your rights
It is important to us that you are aware of your rights when it comes to your personal information and in terms of POPIA you the right to:
- Enquire what personal information about you we hold and process;
- Require us to update, correct and/or delete your personal information;
- Object to us processing your personal information; and
- Instruct to stop any and all direct marketing communication.
You may exercise these rights by contacting us at popreg@lulalend.co.za .
How you can reach us
| Address: | 3rd Floor Pier Place, Heerengracht Street, Cape Town, 8000 |
| Telephone: | 087 250 0014 |
| Email: | popreg@lulalend.co.za |
| Information Officer: | Andrew Keggie Chief Information Officer |
Information Regulator
If you are unhappy with any assistance that you receive from us or about any of our processing activities you can contact the Information Regulator:
| Address: | JD House, 27 Stiemens Street, Braamfontein, Johannesburg
P.O Box 31533, Braamfontein, Johannesburg, 2017 |
| Telephone: | 010 023 5200 |
| Email: | General queries:
Complaints: POPIAComplaints@inforegulator.org.za |