On 29 April 2020, the FCA published a new web page setting out guidance for firms when they are preparing a business plan as part of their application for authorisation as a lending firm.
The webpage contains guidance for all types of lending firm and then guidance on business plans for firms that are seeking to be:
- Unsecured credit lenders.
- Home collected credit firms.
- High-cost short-term credit firms.
- Hire purchase.
- Debt counselling, debt adjusting and credit information firms.
- Firms with Appointed Representatives.