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FCA Handbook
Glossary
P2P agreement

P2P agreement

112117(a) (in relation to a borrower) in accordance with article 36H of the Regulated Activities Order, an agreement between one person113 ("the borrower") and another person113 ("the lender") by which the lender provides the borrower with credit (within the meaning of article 60L of the Regulated Activities Order) and in relation to which the borrower is an individual and either:
1. (i) the lender provides credit (within that meaning) of less than or equal to £25,000; or
1. (ii) the agreement is not entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower.

113(b) (in relation to a lender) in accordance with article 36H of the Regulated Activities Order, an agreement between one person ("the borrower") and another person ("the lender") by which the lender provides the borrower with credit (within the meaning of article 60L of the Regulated Activities Order) and in relation to which either the lender is an individual, or if the lender is not an individual, the borrower is an individual and either:
1. (i) the lender provides credit (within that meaning) of less than or equal to £25,000; or113
1. (ii) the agreement is not entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower.113
113