Is there any benefit to me by being a loan backer?
The benefit to you is that you are helping a friend or family member access credit when they otherwise may be unable 😺
The guarantor loan is typically the most affordable type of loan for people with poor credit
- Representative APRs typically ranging from 29% to 55%.
- Compare that to other bad credit loans with APRs ranging from 135% to over 1,000%.
So, by becoming a loan backer you are helping someone potentially save a great deal of money.
For everything, you could ever need to know about
Being a guarantor on a loan for someone
See our dedicated page