FLM Quick Loans offer a very different form of payday loan called a guarantor payday loans. They have been rather clever and added a 3rd person into the loan agreement, this person guarantees the loan is repaid which means they will repay it if the borrower does not. There are several very big advantages to this:
- It means the loan is a lot cheaper than offered by other payday lenders.
- The borrower does not need to have good credit, or even a credit history to get a loan. Only the guarantor is measured.
- The borrower can get credit when declined by many other companies.
Loan Details
The Borrower:
Requirements
- Age 18 years old or older
- Be A UK Resident
- Not be a bankrupt or on an IVA
The borrower can have poor credit, the only complication arises if they have been declared bankrupt in the last 5 years.
The Guarantor
Requirements
- 18 years old or older
- UK Resident
- Fair credit score and no CCJs, not a bankrupt or on an IVA
- Possess a UK bank account with debit card
- NOT need to be a homeowner
- Must earn more than £500 per month, it doesn’t matter how. It can be through work, benefits or a pension, it doesn’t matter.
