FCA Application, Business Plan ?

[betginge 73]

Hi Guys

Putting in for my FCA application for new Subprime site starting in the new year (fingers Crossed)

My question is  

On the Limited permission FCA application it asks for a business plan which may be asked for but is not required to be sent with the application. 

Have anyone been asked for this plan ? I don't want to start putting together a plan for it not to be even asked for. 

[Phil H 124]

never got asked for my business plan but I had interim permission so wasn't a fresh full application

[MC21 1]

Did a fresh application last year and never gave a business plan. 

[Willoughby 15]

Sames as others, just filled it all out online - they did ring me with a few questions about a month later (so it shows someone does actually read the application) but otherwise straight forward.

[betginge 73]

cheers guys like I thought. 

 

It does read that a business plan may be required even for interim permission, thats what was throwing me as I thought it was only for the full permission apps. 

I will just fire it over and see what comes. 

 

[FCA Compliance 0]

On ‎12‎/‎11‎/‎2016 at 3:06 PM, betginge said:

Hi Guys

Putting in for my FCA application for new Subprime site starting in the new year (fingers Crossed)

My question is  

On the Limited permission FCA application it asks for a business plan which may be asked for but is not required to be sent with the application. 

Have anyone been asked for this plan ? I don't want to start putting together a plan for it not to be even asked for. 

Now that the initial swathe of dealers are FCA approved, those case officers are being re-deployed to check dealers have the compliant paperwork e.g. business plan, staff structure et cetera.

[betginge 73]

Don't eat spam on the weekend sorry 

[FCA Compliance 0]

On 12 August 2017 at 7:30 PM, betginge said:

Don't eat spam on the weekend sorry 

I am sorry that you construed my comment to be spam, I was simply stating what I know from experience.

In most cases, there was no requirement to include your business plan within your application but you did confirm that you had one in place. The FCA can request this at any time.

A number of dealers have already lost their FCA accreditation due to lack of compliance

Every car dealer and any other business who provides consumer credit should read the FCA website for updates, on a regular basis.

Latter half of 2017, 2018 will see enormous change with regards to those who provide consumer credit to their customers.

Edited August 13, 2017 by James Baggott
No outbound links

[betginge 73]

I Like the way you assume we have not got a business plan. Anyhow you will soon be deleted from this forum for breaching the rules so get your advertising in quick 

[trade vet 704]

On 12 August 2017 at 8:59 PM, FCA Compliance said:

I am sorry that you construed my comment to be spam, I was simply stating what I know from experience.

In most cases, there was no requirement to include your business plan within your application but you did confirm that you had one in place. The FCA can request this at any time.

A number of dealers have already lost their FCA accreditation due to lack of compliance

Every car dealer and any other business who provides consumer credit should read the FCA website for updates, on a regular basis.

Latter half of 2017, 2018 will see enormous change with regards to those who provide consumer credit to their customers.

If you had checked out the dealers in the motor trader article you have hilighted,you would have seen they were either dissolved,dormant or insolvent and in one case they were a website builder and not a car dealer.So I am afraid that has blown your credibility,so maybe you should try and promote yourselves elswhere !.........Good Luck.

[FCA Compliance 0]

7 hours ago, trade vet said:

If you had checked out the dealers in the motor trader article you have hilighted,you would have seen they were either dissolved,dormant or insolvent and in one case they were a website builder and not a car dealer.So I am afraid that has blown your credibility,so maybe you should try and promote yourselves elswhere !.........Good Luck.

I'd imagine they would be dormant or dissolved now!

With regards to my credibility, you should try me! 

 

Edited August 13, 2017 by James Baggott
No self promotion for businesses allowed