Credit Brokage Terms - Let's Do Business Group

1. Introduction

Let’s Do Business Group Finance (‘LDBF’), the trading name of Capitalise Business Support is an FCA-regulated lender, credit broker and consumer lender, and a member of The National Association of Commercial Finance Brokers.

‘LDBF’ receives enquiries from people and organisations (‘Clients’) seeking funding in a variety of different ways, i.e. loans, grants, invoice finance, asset finance, equity partners, commercial/personal mortgages etc. On occasions to support the ‘client’, it is necessary to look beyond what funding ‘LDBF’ can normally provide from their own suite of products.

‘LDBF’ maintains relationships with various organisations, for example, brokers, finance companies, banks and other financial providers (‘Institutions’). In some cases, ‘LDBF’ earns fees from ‘institutions’ under credit broking agreements (these can also be called ‘broker’, ‘affiliate’ or ‘commission’ agreements), where an ‘agreement’ is made between the ‘client’ and an ‘institution’ that was facilitated by ‘LDBF’, i.e. where a funding facility is agreed and drawn.

Fees (at an agreed level as set out at the credit brokering agreement) are earned following a successful introduction on behalf of the ‘client’ by ‘LDBF’ to the institution’.

‘LDBF’ wants to make this whole offering transparent for the ‘client’, and the following section will inform the ‘client’ as to how LDBF may earn fees through credit broking introductions or commission agreements.

2. Commission

‘LDBF’ reserves the right to earn fees from institutions from successful introductions under credit broking agreements or a commission sharing arrangements.

Commission payments are made to ‘LDBF’ by the ‘institution’, but never from the ‘client’. This commission payment is sometimes as part of an up-front fee paid by the ‘client’ to the ‘institution’ upon drawing a facility, and sometimes from ongoing income earned by the funding provider.

‘LDBF’ will divulge the amount of any commission earned, or estimated to be earned, upon a written request from a client.

It is important to note that:
a) No fee is paid directly to ‘LDBF’ by the ‘client.’
b) The size/amount of any fee paid by the ‘client’ to an ‘institution’ is not inflated because it is being shared with ‘LDBF’, and
c) Any fee earned is only contingent on a successful introduction and ‘agreement’ by ‘LDBF’ for a ‘client’ or ‘institution’ and is based upon a written agreement between ‘LDBF’ and the ‘institution’.

3. Credit Brokering Activities Description

There are two ways that ‘LDBF’ would be involved in credit brokering that will allow ‘LDBF’ to earn commission, and this is not tied to other services provided by ‘LDBF’ or its associated companies:

i) Introducing the ‘client’ to the ‘institution’ via outside parties
Where ‘LDBF’ introduces a client to an ‘institution’, which will then find the appropriate lender for the client, from funding providers that the ‘institution’ has a relationship with.

ii) Introducing the ‘client’ to the ‘institution’ directly
Where LDBF introduces the ‘client’ directly to the ‘institution’, where the ‘institution’ is a funding provider.

4. Process

While this web page acts as a notice, there will be further clarification and discussion on a case by case basis via face to face notification to the ‘client’ by authorised ‘LDBF’ finance professionals of a commission sharing agreement, and another form of literature handed to a client.

All data security, data handling and quality assurance is done in accordance with LDBF Privacy Policy, which adheres to the Data Protection Act 2018 and GDPR, which can be viewed here.

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