Help OFT Credit licence advice

[chewit]

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

[labman]

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