In this time of financial difficulty where money is tight some people find they have to turn to borrowing money to get by. Whether it is due to an unexpected financial problem or a need to consolidate debts many people decide to look at getting a loan.
Due to the financial situation of the country and an upheaval in banks over the past few years there are stricter policies surrounding loans which means getting a personal standard loan can be more difficult.
For people who struggle to get a personal loan using Guarantor loan specialists such as Glo to obtain a guarantor loan may be an alternative solution.
Glo which stands for guarantor loan option allows people who are in need of some cash but can't get a personal loan and who have credit-worthy friends get a loan.
Guarantor loans are loans where you have a friend of relative act as a guarantor.
Similar to when renting and having a guarantor vouch for you and be a financial back up to give the company reassurance a guarantor for a loan is personally responsible for the loan if you do not maintain repayments.
If you decide to get a guarantor loan from Glo they offer fast payouts with no fees with loans of up to £7000 repayable over 1 to 5 years.
Before taking out a loan it is important to consider all your options and understand the implications, financial agreement and repayments of a loan. To learn more about loans and get advice on all things finance take a look at the Money Advice Service website.