How to become a Finance Lender

All firms that carry out lending activities need to be authorised by the FCA. If you want to become a finance lender, the FCA will ask you to provide the following documentation:

  • A regulatory business plan.
  • A risk management strategy.
  • Compliance procedures, e.g. sales process, complaints, data protection, rule breaches, forbearance, vulnerable customers
  • Evidence of how the firm will ensure it is treating customers fairly
  • Evidence that the firm has systems in place to combat financial crime including money laundering
  • Marketing strategies to be used, and how clients will be sourced
  • Details of the firm’s organisational structure.
  • Projected financial statements.
  • Details of any previous convictions, disciplinary action, or insolvency events.
  • Additional information along the application approval process including bespoke documents.
  • Details of affordability assessments the firm will carry out.

In addition, individual authorisation for key personnel, e.g. directors, chief executives, heads of compliance, and anti-money laundering officers is also required. These individuals will be subject to a series of assessments regarding honesty and integrity.

 

We can help with all of this!

As market leading consumer credit specialists, The Compliance Guys team have all the tools, knowledge, and wealth of experience to help you in your journey to get approved by the FCA. Our honest, transparent, quick, and hassle-free approach ensure the right outcomes and a stress-free application journey.

Get in touch today and ask how we can help you.

We’re here to help, it’s free to chat! Whatever questions you have, whatever your business needs, we are approachable, friendly and speak in plain English.
We understand the pressures of running a business and will only offer services that bring benefit to your life.

Get in contact by the method that you feel comfortable with; Contact Form, Email, Phone, Whatsapp, Messenger, Text, Facebook or Instagram. 

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07983 738259 / 07957 750451

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www.thecomplianceguys.co.uk





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