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Help OFT Credit licence advice

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  • Help OFT Credit licence advice

    Hi am having trouble working out if I need a credit licence
    I have contacted the federation of small bananas and they cannot help
    Also contacted the fca no help

    I have a small business sole trader turn over approx. 8k

    I make an sell computers


    I am looking to do finance for example a £300 computer

    £30 a month for 10 months without interest so no profit gain

    Help please
    Tags: None

  • #2
    Re: Help OFT Credit licence advice

    Assuming it's your own money, it sounds to me like you need a Category A license. You'd also need to get the interim license with the FCA, I posted about this in the last week or so, prior to the OFT being abolished in April 2014. See link below:

    http://www.oft.gov.uk/OFTwork/credit-licensing/do-you-need/licence-categories/#.Ui9DnD8Qn3U



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