Premium Credit says it has enhanced its application process for regulated firms seeking to secure a financing option for their Financial Conduct Authority fees. Premium Credit said firms whose fees were more than £50,000 would receive two invoices and that half of the total was normally due in April. It offers a monthly payment option, typically spread over 10 months.

Nigel Stewart, sales director – specialist finance at Premium Credit, said: “We’ve invested further in our digital platform this year to make the application process as quick and straightforward as possible. We offer a compliant, streamlined customer journey from application to completion.”

He added: “We’ve designed our financing solution to provide businesses with as much flexibility as possible when managing their FCA fees, including ‘on account’ fees, by offering an alternative to paying a large sum all at once. This eases the strain on working capital so it can be used where it matters most.”

Premium Credit said it had financed over £650m worth of FCA fee payments since 2005.