If you are a business that offers credit or lends money to consumers you may need to be licensed. This includes where credit is arranged to finance the purchase of goods or services (brokers), and also applies to debt collectors, debt advisors and businesses that offer goods for hire or leasing.
Failure to have appropriate licensing arrangements in place where required could constitute a criminal offence and may render any credit agreements you make unenforceable.
Credit licensing is handled by The Financial Conduct Authority.