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Cost inflation and rising interest rates – why use valuable working capital to pay FCA fees up front?

Brokers / 28th September

With regulated firms continuing to receive invoices for this year’s FCA fees and levies, Premium Credit is offering businesses a finance facility to spread their fees over convenient monthly repayments rather than having to pay in one lump sum.

This alternative payment method is designed to give firms greater control over cash-flow, allowing their cash reserves to work more effectively in other business critical areas.

Roger Brown, Chief Commercial Officer, Premium Credit Specialist Lending commented:
“With UK inflation riding high amongst wider economic challenges and uncertainty, regulated firms are inevitably feeling additional financial pressure and looking for new ways to preserve cash flow. As payment deadlines for FCA fees draw closer for many firms, working with Premium Credit is a consideration for those businesses looking for wider payment options to ease liquidity.

We have been enabling FCA regulated firms to pay their FCA fees as a monthly expense rather than a lump sum payment for over 15 years and it continues to grow in popularity. Last year, we helped more than 2,000 companies spread the cost.

A simple digital application process, following significant investment in technology, ensures the whole customer journey is smooth and seamless. As the lender we undertake the bulk of the administration by paying the fees directly to FCA.”

Premium Credit advises that it’s important to act in a timely way, so firms have the opportunity to consider the best fee payment option and avoid a financial penalty for any late response.

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