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Best Guarantor Loans for Bad Credit

Guarantor loans are perfect when you have bad credit, because it relies more on the credit rating of your guarantor.

Brand NameWebsiteAccepts bad credit?Min LoanMax LoanREP APR %DurationGuarantor RequirementsGuarantor AgeSame day?
1Plus1click hereYes£500£5,00047.80%1 - 5 yearsHomeowner / Tenant18 - 75Yes
Buddy Loansclick hereYes£1,000£7,50049.90%1 - 5 yearsHomeowner / Tenant18+No
Juo Loansclick hereYes£1,000£3,00049.90%1 - 3 yearsHomeowner / Tenant25+No
Amigoclick hereYes£500£10,00049.90%1 - 5 yearsHomeowner / Tenant18 - 75Yes

Brand NameWebsiteAccepts bad credit?Min LoanMax LoanREP APR %Example Loan AmountExample DurationExample Monthly RepaymentsExample Total Amount PaidShortest LengthLongest LengthAccepts Homeowner Guarantor?Accepts Tenant Guarantor?Applicant Must Be Homeowner?Min G AgeMax G AgeSame day?
Buddy Loans£1,000.00£7,500.0049.9%£3,250.003 years£158.57£5,714.671 year5 yearsYesYesNo18No
Amigo£500.00£10,000.0049.9%£4,000.003 years£195.16£7,025.761 year5 yearsYesYesNo1875Yes
1Plus1£500.00£5,000.0047.8%£3,000.003 years£143.84£5,178.241 year5 yearsYesYesNo1875Yes
Juo Loans£1,000.00£3,000.0049.9%£1,500.002 years£92.81£2,227.521 year3 yearsYesYesNo25
UK Credit£1,000.00£10,000.0039.9%£4,500.003 years£201.15£7,241.401 year5 yearsYesNoNo2170No
Guarantor My Loan£1,000.00£10,000.0029.0%£3,000.003 years£120.46£4,366.441 year5 yearsYesNoYes
TFS Loans£1,000.00£15,000.0039.9%£8,000.005 years£279.20£16,752.001 year5 yearsYesNoNo1878
Trust Two£500.00£10,000.0043.8%£4,000.003 years£185.27£6,669.721 year5 yearsYesYesNo2574
Suco£1,000.00£15,000.0039.9%£8,000.005 years£279.20£16,752.004 years5 yearsYesNoNo1878
MASA£1,000.00£7,500.0049.9%£7,500.005 years£296.44£17,770.521 year5 yearsYesYesNo25
Bamboo£1,000.00£8,000.0049.7%£2,600.003 years£126.61£4,557.891 year5 yearsYesYesNo2172Yes

The Perfect Solution For Individuals With Poor Credit

The whole reason that guarantor loans were invented in the first place was to help people with a low or poor credit rating to still get some sort of business finance.

This means that if you have had prior financial mishaps such as County Court Judgements, bankruptcies, loan defaults, or other missed payments, then you may still be able to apply for an affordable loan that doesn’t have insanely high APR %.

The fact that your guarantor who has a good rating is trusting you to repay the loan, is a good indicator to the lender that you have changed your financial ways, and you will now become a stand up citizen by paying off all of your debt on time.

What are the lowest scores that your credit can be to still get a loan?

The lower level ends of bad credit are usually fine to get a guarantor loan, such as loan defaults, County Court Judgements and Missed Payments; as long as they haven’t occurred within the last month most loan providers will be willing to lend to you with a good guarantor.

However there are certain things that will prevent you from getting a guarantor loan, which are a current bankruptcy and a current Individual Voluntary Arrangement (IVA). An IVA is where you arrange a deal with your creditors and the government to pay back your debt in instalments with the interest completely frozen.

Unemployed or On Benefits? Go With A Guarantor!

For those who have recently been made unemployed, or for those on long term benefits, sometimes getting a loan at an APR % that you can pay every month can be very tough.

That makes guarantor loans perfect for this because they lower your interest rate and allow you to get a loan at a much better rate than you would on your own.

There are even some loans with a same day payout, so if you have emergency bills to pay then you can often get them done and dusted within 24 hours, saving you money on late fees or extra interest.

Credit Building with Guarantor Loans

When you have a bad credit rating you will often want to get it back up to an acceptable level as quickly as possible. That’s why a guarantor loan is so perfect because it can help you build up your credit rating too! Every time you make a monthly payment you’re making your way up to a better credit score.

For more information on how to improve your credit score click here.

Pros and Cons of a Guarantor Loan with Bad Credit

It’s important to decide whether or not this type of finance will meet your current situation. There are some pros and cons of any loan, and with bad credit these can be made even more important to consider.


  • Better interest rates than applying for a payday loan
  • Helps to build your credit rating
  • A sense of security that you won’t go to court if you can’t pay


  • Whoever is your guarantor may feel angry if they have to pay for you
  • If neither of you can pay then court orders are likely

Other Types of Guarantor Loans to Checkout

We have comparisons on other types of guarantor loans, including:

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