Consult on move to full FCA Consumer Credit Licence

Currently an FCA regulated firm operating under a restricted consumer credit licence looking at a potential move to a full licence to enable interest to be charged. We are a training company so we will not directly be lending cash to anyone, just a credit on their course fees to be paid back over time.

We give specialist training which has a high value, this is a barrier to entry for a lot. This is mostly aimed at school leavers so any agreement would be with a parent or guardian.

We are looking to explore the challenges in moving to a full licence, the additional costs and staffing requirements (we are a small company), training and regulatory compliance requirements going forward.

We would like someone with sufficient experience of FCA applications or regulations to advise on the above. We may also look at continuing work on an hourly basis to cover any regulatory requirements where needed.