by Colin Macpherson | General Manager

If your business currently holds interim permission to provide credit, then by now you should have received an email from the Financial Conduct Authority. The email, entitled ‘Applying for FCA authorisation or a variation of permission’, includes a start date for completing your application for full authorisation.

You have three months from your start date to submit your application form – and it MUST be completed during this period.

If you don’t apply for full authorisation on time, then your interim permission will lapse and you’ll no longer be able to offer credit facilities to your customers. The FCA will send you a reminder three months before the start of your application period.

Your application may be many months away but there are a number of requirements stipulated by the FCA that your business should already have in place. For example, as part of your application you’ll need to provide details about your company’s written complaints procedure.  You can download a checklist from our homepage (bottom right of the screen).

There’s a wealth of information on the FCA website to help you complete your application but we’re also here to help. Just ask your Business Development Manager if you would like any of the following templates: