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UK GDPR is the United Kingdom's General Data Protection Regulation, the retained version of the EU GDPR that applies in the UK alongside the Data Protection Act 2018. It sets the rules for how organisations collect, use, store and share personal data, and gives individuals rights over the data held about them. A lender handling information about directors, owners and applicants must comply with it.
- What it governs
- The processing of personal data — collection, use, storage, sharing and deletion.
- Who it protects
- Individuals, including directors and owners of a business borrower.
- Regulator
- The Information Commissioner's Office (ICO).
Core principles
UK GDPR requires that personal data is processed lawfully, fairly and transparently. It must be collected for specified purposes, limited to what is necessary, kept accurate, held no longer than needed and handled securely. Organisations must be able to show how they meet these principles, and must have a lawful basis for each use of personal data.
Individual rights
UK GDPR gives individuals rights including access to their data, correction of inaccuracies, erasure in certain circumstances, and the right to object to some processing. A lender must have processes to handle these requests. For a business borrower, the data concerned is typically the personal data of its directors and owners rather than the company's own (non-personal) information.
UK GDPR and Credit Corp
Credit Corp handles personal data — for example the details of directors and owners of borrowing businesses — in line with UK GDPR, and is registered with the Information Commissioner's Office under ICO ZC189608. How we use data is set out in our privacy information. Credit Corp is an independent UK lender (Company No. 17338274).
See also
- ICO — the UK data-protection regulator.
- KYC — identity checks that involve personal data.
- Due diligence — checks that handle personal data.
- AML — anti-money-laundering, which sits alongside data rules.
Short-term business credit carries a high annualised cost. Borrow only what you need, for the shortest term required. If repayment becomes difficult, contact us early through our Help Centre; support for vulnerable customers is on our vulnerable-customers page. For exact pricing, see our machine-readable references ai.md and llms-full.txt.