With Financial Conduct Authority (FCA) regulated firms continuing to receive invoices for this year’s FCA fees and levies, Premium Credit has launched an instalment financing option to ease the payment burden.
The firm is offering businesses a finance facility to spread the cost of their fees over monthly repayments rather than having to pay in one lump sum.
This alternative payment method was designed to give regulated firms greater control over cash flow, allowing their cash reserves to work more effectively in other business-critical areas.
Nigel Stewart (pictured), sales director (professions) at Premium Credit Specialist Lending, said: “Despite inflation falling to 3.4% it remains above the Bank of England’s target level and when considering the challenges of wider economic uncertainty, regulated firms need to carefully look at ways to preserve cash flow.
“With payment deadlines for FCA Top Up fees drawing closer for many firms, working with Premium Credit is a strong consideration for regulated firms looking to spread the cost.”
Stewart added: “Setting up a finance facility to cover FCA fees is a simple digital application process following the significant investment we’ve made in technology, ensuring the whole customer journey is smooth and seamless.
“As the lender we undertake the bulk of the administration by paying the fees directly to FCA.”
