Are you tired of getting turned down for all of your loan applications, because you couldn’t pass credit checks? Do you need money quickly, but don’t have any collateral to back the loan against? Worry no more, because GuarantorLoans365 is here to offer you the right loan in just a few clicks. Just accomplish our quick and easy online form and obtain instant decision for FREE!
What is a Guarantor Loan?
A guarantor loan is a type of loan that has been around for ages. Before computers started to dictate who is credit worthy and who is not, banks relied on guarantors before granting loan applications.
The concept behind a guarantor loan is pretty simple and straightforward. If you have a friend or relative who trusts you enough, and who can prove that you are able to meet the repayment terms of the loan, the lender will be able to lend you money, on the condition that the guarantor will take over your financial obligations should you fail to pay them yourself.
Who is it for?
If you are a borrower looking for an unsecured loan, but couldn’t get qualified because of your credit, a guarantor loan might be the best solution there is.
Meanwhile, if someone close to you is in dire need of cash but you cannot extend the financial assistance yourself, becoming their guarantor can be as good, if not a better help than taking the cash out of your own wallet.
What are the Benefits of a Guarantor Loan?
If you are a borrower in need of cash but your bad credit is getting in the way, a guarantor loan can help you obtain the much-needed money. If you are worried about not having a collateral to back your loan against, you need not worry because a guarantor loan is an unsecured debt, which means there’s no need to risk any of your assets in order to borrow.
While there are many other loans out there for individuals with inferior credit or are just starting out to obtain credit, a guarantor might be your most affordable option. This is because with the presence of a guarantor, your application will be treated as if the applicant is someone with good credit rating. So it’s highly likely that the rates that will be offered to you may not be at all different from those offered to a good credit applicant.
Additionally, guarantor loans have more flexible repayment options as compared to payday and short term loans. You will not be required to provide a one-off payment, neither will you be obliged to squeeze your repayments in a three to six-month period when you can’t afford it. Because your guarantor has good credit, you may be able to borrow a larger amount of cash and pay it within a reasonable time frame.
If you’re a guarantor who wants to help out a close friend or family, and it pains you to say “no” to them, there’s no better help that you can provide than by becoming their loan guarantor. Not only can you help them obtain the money that they need, but you’re also teaching them to become more financially responsible and in control of their financial decision makings.
Why Become a Guarantor?
There are two great reasons to become someone’s guarantor. First, if you want to help someone close to you who are in need of cash, but you cannot afford lending the money yourself, signing up as their guarantor lets you help them obtain the money they need. This is also a good idea if the borrower does not feel comfortable owing you the money personally.
Second, even if you have the money to lend, being a guarantor is often a better alternative, so that you won’t have to track repayments or stress over collecting repayments. It also helps the individual gain some financial responsibility.
How it Works?
1. Complete our Form
For us to be able to help you, just accomplish our 60-second form. We will review your application and give you our decision within a few minutes.
2. Provide more details
We will search the market for a suitable lender for your needs, and give you a free quote almost instantly. If you are happy to proceed, we will ask for more details and requirements so that we can verify your income and identity. Don’t worry because it won’t take long.
3. Receive our PIN
Assuming that you’ve informed your guarantor in advance, we will send you a PIN that they will use to log in to our site and verify that they agree to become your guarantor.
1. Sign in our site
The applicant will send you a PIN code which you will use to log in. If you know and trust that the applicant will be able to meet the repayments, and if you can prove your own income as well, we can approve the loan.
2. Read and sign the credit agreement
We advise you to read the terms very carefully before proceeding. If you are happy with what you see, you can click on the checkbox that you accept the terms, and this will serve as your electronic signature.
3. Receive the cash
We will send the money within 24 to 48 hours upon successfully completion of the application. In order to avoid fraud, we will send the money to your bank account, and then you will arrange for the transfer to be made to the applicant’s account.
Rest assured that we will never harass you in any way. If the applicant misses payments, we will send you as well as the applicant a notification of late payments. We will try our best to collect payments from the applicant first, and will come up with reasonable arrangements in case the applicant encounters any difficulty. Requesting from you to pay off any remaining balance will always be our last resort.
Apply for our Guarantor Loan Today!
Application is quick and easy! Just fill in our online form today for FREE and get our instant decision!