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.
  • Pawnbrokers
  • Home collected credit firms.
  • High-cost short-term credit firms.
  • Hire purchase.
  • Debt counselling, debt adjusting and credit information firms.
  • Firms with Appointed Representatives.