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Amigo Loans is a guarantor lender who offer loans up to £10000
Amigo Loans are a guarantor lender, offering loans from £500 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 49.5% (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.