Exempt lending

FCA The FCA is the UK's financial-services regulator. Its consumer-credit perimeter covers lending to individuals; lending to companies and LLPs sits outside… FSMA RAO The FSMA Regulated Activities Order defines which financial activities are regulated in the UK. Articles 60B and 60L set the consumer-credit perimeter and… Body corporate A body corporate is a legal entity, such as a limited company or LLP, that is separate in law from the people who own or run it — and is the kind of… Responsible lending Responsible lending means lending only what a business can sensibly handle, being clear about cost, and supporting borrowers in difficulty. Credicorp… /legal/vulnerability/ How Credicorp, a UK business lender, supports customers going through a difficult time — vulnerability policy and support routes. Interest Interest is the charge a lender makes for the use of borrowed money, usually expressed as a rate. On short-term business lending interest is often charged… Sanctions Sanctions are legal restrictions that prohibit dealing with certain named individuals, entities or regimes. Lenders screen borrowers against sanctions… Drawdown Drawdown is the act of taking money from an agreed facility — turning available credit into funds in the business's bank account. On a revolving facility… Due diligence Due diligence is the set of checks a lender carries out before and during a lending relationship — confirming the borrower is genuine, understanding its… Debenture A debenture is a document that grants a lender security over a company's assets, registered at Companies House. It lets the lender recover against those… Flat rate A flat rate charges interest on the original amount borrowed for the whole term, rather than on the reducing balance. It can look cheaper than it is…