Premium Credit, a specialist lender, is offering regulated firms a finance facility to help spread the cost of Financial Conduct Authority (FCA) Top Up fees over monthly repayments, rather than paying in one lump sum.
The FCA issues two invoices per year for regulated firms whose total fees exceed £50,000 in the previous year, with 50% of the fee payable by 1st April, creating an additional cost for businesses in this category.
Paying the cost of fees via an instalment facility allows firms to preserve cash flow and spend precious cash reserves in other business-critical areas, with repayments typically made over 10 months.
Premium Credit has provided a finance option to meet FCA fees for over 15 years and expects ongoing demand as firms look to preserve cash flow amidst the economic challenges created by high rates of inflation, the cost-of-living crisis, international conflict, and the ongoing effects of Brexit.
Premium Credit’s payment solutions cover the cost of FCA fees and any additional top-up fees, giving firms greater control over cash-flow and allowing their cash reserves to work more effectively to better meet their current business needs.
