Control. Funds are sent to the guarantors bank account
Certainty. All loans confirmed over the phone
Transparency. Guarantor told of each successful or late repayment straight away
Support. Friendly UK call centre
Follow the link you will have received from the applicant
Complete the application - there’s no impact on your credit file
We’ll call you, and the borrower, to confirm the loan
The money will be transferred into your account
There’s no impact on your credit file for you to check if you can guarantee a Juo Loans loan. If approved, the loan will be transferred to your bank account for you to transfer to the applicant; we believe that this helps reinforce the applicant & guarantor relationship.
If everything goes okay and the loan is repaid then there’s no impact on your credit file. If the borrower misses a payment, and either you or they promptly bring the repayments up to date, then there’s still no impact. If the loan is not repaid by the borrower, and you as the guarantor do not step in and repay, this is the point at which there may be an impact on your credit file.
Both you and the applicant will be kept up to date with the status of the loan including any late repayments. As the guarantor you will be told about successful and late repayments as soon as they happen. We do this so there are no surprises and in the event that the borrower misses a payment you can have a conversation with them.
Because we know there’s someone close to the applicant who also knows they can afford the loan and will responsibly make the repayments, we’re able to offer a lower APR of 49.9% on our guarantor loan, rather than our personal loan APR of 99.9%
At Juo Loans, we’re committed to making sure our loans are affordable for customers and we’ll never lend more than the borrower can afford to pay back. We’re a direct lender, not a broker, and there are no additional fees or charges to pay.
As a responsible lender, we ensure our loans are taken for responsible reasons. Our customers may have had historic credit issues but they’re on their way up. Our loans aren’t taken for frivolous reasons or simply to maintain a lifestyle.