Privacy Policy

Effective Date: March 25, 2026

Lily Advance LLC ("Lily Advance," "we," "us," or "our") is committed to protecting the privacy and security of your personal information. This Privacy Policy describes how we collect, use, disclose, and safeguard information when you use our services, website, or applications (collectively, the "Services").

1. Information We Collect

We may collect the following types of information:

• Business Information: Business legal name, DBA, business address, phone number, EIN, industry, type of entity, state of formation, and time in business.
• Owner/Principal Information: Name, address, phone number, email address, Social Security Number, date of birth, and ownership percentage.
• Financial Information: Bank statements, bank account numbers, routing numbers, revenue data, existing financial obligations, and credit-related information.
• Transaction Data: Information related to transactions processed through our Services, including payment amounts, dates, and statuses.
• Communications: Emails, documents, and other communications exchanged in connection with our Services.
• Technical Data: IP address, browser type, device information, and usage data collected through cookies and similar technologies when you access our website or applications.

2. How We Use Your Information

We use the information we collect to:

• Evaluate and process applications for merchant cash advance funding.
• Perform underwriting, risk assessment, and due diligence.
• Facilitate, manage, and service funding agreements.
• Process payments and remittances.
• Communicate with you and your representatives regarding your account.
• Comply with legal and regulatory requirements.
• Prevent fraud and protect our legal rights.
• Improve our Services and develop new products.

3. How We Share Your Information

We may share your information with:

• Service Providers: Third parties who assist us in operating our business, including payment processors, document management services, e-signature providers, and technology vendors.
• Independent Sales Organizations (ISOs): The ISO or broker who submitted your application, as necessary to facilitate the funding process.
• Financial Institutions: Banks and other financial institutions involved in processing transactions.
• Credit Reporting Agencies: We may report payment history and account information to credit reporting agencies.
• Legal and Regulatory Bodies: When required by law, subpoena, court order, or government regulation.
• Business Transfers: In connection with a merger, acquisition, or sale of assets.

We do not sell your personal information to third parties for marketing purposes.

4. Data Security

We implement industry-standard security measures to protect your information, including encryption of sensitive data (such as Social Security Numbers and bank account numbers), secure transmission protocols, access controls, and regular security assessments. However, no method of transmission over the Internet or electronic storage is completely secure, and we cannot guarantee absolute security.

5. Data Retention

We retain your information for as long as necessary to fulfill the purposes described in this Privacy Policy, comply with legal obligations, resolve disputes, and enforce our agreements. Financial records are retained in accordance with applicable regulatory requirements.

6. Your Rights

Depending on your jurisdiction, you may have the right to:

• Access the personal information we hold about you.
• Request correction of inaccurate information.
• Request deletion of your information, subject to legal and contractual obligations.
• Opt out of certain data processing activities.

To exercise these rights, please contact us at the information provided below.

7. Cookies and Tracking

Our website and applications may use cookies and similar tracking technologies to enhance your experience, analyze usage patterns, and improve our Services. You can control cookie settings through your browser preferences.

8. Third-Party Links

Our Services may contain links to third-party websites or services. We are not responsible for the privacy practices of those third parties. We encourage you to review their privacy policies.

9. Children's Privacy

Our Services are not intended for individuals under the age of 18. We do not knowingly collect personal information from children.

10. Text Messaging (SMS)

Full program terms are published at crm.lilyadvance.com/sms.

Lily Advance sends account-servicing text messages to merchant clients who have provided a mobile number and consented to receive them — for example, notices that a scheduled payment returned, requests to update banking information, and replies to messages you send us. By providing your mobile number in your funding agreement, payment authorization, or to a Lily Advance representative, you consent to receive these messages from Lily Advance LLC at that number.

Message frequency varies based on your account activity; most clients receive only a few messages per month. Message and data rates may apply. Reply STOP at any time to opt out of text messages, or HELP for assistance; you can also call us at 800-854-5315.

No mobile information will be shared with third parties or affiliates for marketing or promotional purposes. Information sharing with subcontractors in support services, such as customer service, is permitted. All other use-case categories exclude text messaging originator opt-in data and consent; this information will not be shared with any third parties.

11. Changes to This Policy

We may update this Privacy Policy from time to time. We will notify you of material changes by posting the updated policy on our website with a revised effective date.

12. Contact Us

If you have questions about this Privacy Policy or our data practices, please contact us:

Lily Advance LLC
767 E Brookhaven Circle, Suite 102
Memphis, TN 38117
Email: privacy@lilyadvance.com