LONDON--(BUSINESS WIRE)--Western Circle Ltd (WCL) submits its application for full permission authorisation by the Financial Conduct Authority as a move towards trying to become a leading UK lender.
Western Circle Ltd (WCL), a London-based lending company trading as Cashfloat.co.uk, has confirmed that it has submitted its application for a full permission to enter into High-Cost Short Term Credit (HCSTC) agreements this month. A full FCA permission will strengthen the company standing in the financial market, as well as allow them to carry out the rights and duties of a responsible lender in HCSTC agreements.
“After a lot of work and review, we have submitted our application for a full permission. Our aim is to become the most affordable, transparent, and friendly short term loan provider in the UK. ” says Jeremy Lloyd, a WCL representative.
Western Circle currently holds an Interim FCA permission. In fact, most lenders in the UK still operate under an interim permission. However, this revolution of new lenders obtaining a full permission will certainly change the dynamics within the market.
Western Circle continues to offer affordable loans online through its trading style, Cashfloat.co.uk. "The entire business model, including the loan products and corporate culture of WCL, is built around our customers’ interest. Treating Customers Fairly (TCF) has been applied to every aspect of the company’s activities," says Ofer Akerman, partner at WCL.
Western Circle now awaits the FCA’s assessment of its application.
About Western Circle Ltd:
Western Circle Limited is a technology and data driven lending company. The company develops and integrates technologies to enable affordable loans online under the new FCA regulations. These technologies include underwriting expert systems, online loan intelligence analytics, and proactive compliance management systems. WCL has already helped over 4000 people in the UK alone to obtain affordable loans online, via its trading style http://www.cashfloat.co.uk. Western Circle Ltd aims to reinvent the science of affordable online loans, and make this helpful and responsible financial instrument accessible to all clients across the UK.
