With the Financial Conduct Authority (FCA) currently sending invoices to regulated firms for annual fees, Premium Credit has provided a finance option to cover the cost.
This option aims to allow firms to spread the cost over monthly payments, which can help them manage cash flow.
By utilising an instalment facility to cover FCA fees, regulated firms can allocate their cash reserves towards other crucial aspects of their business.
Repayments are usually spread over 10 months instead of being paid in one single payment.
Premium Credit provided this financing choice to more than 1,600 regulated businesses last year and anticipates continued interest as companies seek to maintain cash flow in challenging trading circumstances.
Nigel Stewart, sales director, professions – Premium Credit, Specialist Lending, said: “Our credit option continues to be an affordable, compliant and convenient way for businesses to cover their FCA fees through monthly payments. In challenging financial times, it’s a strong choice compared to other credit options.”
Stewart adds: “The digital application process is straightforward, and our extensive investment in technology guarantees a seamless experience for customers.
“As the lender, we handle the majority of the administrative tasks, making the entire customer journey easy.”
