About Amigo Loans

Amigo Loans are a guarantor lender, offering loans from £2,000 to £10,000. You can choose to make repayments over 12 to 60 months, depending on the size of the loan. In terms of interest rates, Amigo Loans have a Representative APR of 49.9% (variable). There are no set up fees or late payment charges, and Amigo always try to be as transparent as possible throughout the loan process.

Guarantor loans are primarily aimed at people with poor credit scores, and may have been turned down for a loan elsewhere. With a guarantor, there is less risk for the lender, as your guarantor agrees to make the due payments should you fall behind. This means that there is a high approval rate for guarantor loans, especially if your guarantor has a good credit history.

With Amigo Loans, bad credit is considered, along with borrowers who are part time employed, students, homemakers and unemployed. If approved, the loan should be paid out within 48 hours and transferred into your guarantor’s account.

Last Updated: February 2023

Why Apply Through My Financial Broker?

• No Fees: There are no hidden fees or charges when you apply with My Financial Broker. Our services are free for customers, as we instead work with our lenders on a commission basis.

• High Approval Rate: By applying with us and only making the one loan application with a direct lender, you can protect your credit file and increase your chances of loan approval. If you were to apply for a large number of loans in a short space of time, this could mean a large number of credit checks. This in turn can lower your credit score, and your chances of getting a loan.

• Soft Credit Checks Only: Making an application with My Financial Broker won’t be reported on your credit file, which means that your credit score won’t be impacted either.