Guarantor loans from direct lenders

£100 to £5,000 paid out by *

Fast 3 to 36 month loans.

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Representative APR 49.9%.

Representative Example: £1200 borrowed for 18 months. Total amount repayable £1628.28 in 18 monthly instalments of £90.46. Total Interest £428.28. Interest Rate 49.9.% pa (variable). Rates between 9.3% APR and 1294% APR - your no obligation quote and APR will be based on your personal circumstances. Loan term lengths from 3 to 36 months. Subject to lender's requirements and approval. *Once approved, your cash could be sent within 15 minutes. The time that it takes for the cash to be received in your account will depend on your bank’s policies and procedures.
Warning: Late repayment can cause you serious money problems. For help, go to
CUJ Loans is a registered trading name of Upward Finance Limited which is an Introducer Appointed Representative of Flux Funding Limited, who are a credit broker, not a lender.

What is a guarantor loan?

Guarantor loans are loans that involve someone else taking responsibility for your loan repayments if you cannot. This person is legally responsible for the loan and therefore must make repayments if you fail to do so. Therefore, a guarantor must first be someone you are close to and trust, such as a family member or friend. Typically, money lenders require a guarantor to be aged between 18 – 70 and to be financially secure enough to cover your repayments. Some direct lenders will require that the guarantor is a homeowner, but this isn’t always the case.

If you are looking for loans with a guarantor, you must consider the financial standing of your guarantor. This is because lenders will place just as much importance on the financial stability of your guarantor as they will you. So as to maximise your chances of being approved, you must choose your guarantor wisely. Having a guarantor gives extra security to the lender, and as such, they may be able to offer you lower interest rates than some other bad credit loan providers.

Guarantor loan questions:

Q1 – Who should guarantor my loan?
Q2 – What are the different types of guarantor loans on offer?
Q3 – Am I guaranteed to be accepted for a loan if I have a guarantor?
Q4 – Why should I choose a guarantor loan?
Q5 – When the loan is paid out is it sent to me or the guarantor?
Q6 – What happens if I miss a payment?

As already mentioned, when selecting a guarantor, it is important to consider various factors before making your decision. First, there must be trust. Asking someone to be financially responsible for you should you miss a repayment is a big request. Therefore, not only should you ask someone you trust, but of course make sure they also trust you. You should never force someone into such an agreement, and therefore, you must both be comfortable with the deal before proceeding.

Your guarantor must be able to make the repayments should you fail to. This is because they will be held financially responsible for your guarantor loan, and this may have an adverse effect on their own financial stability. Whilst family members are an obvious choice, this is not always possible or desirable. Therefore, direct lenders do not restrict guarantors to only being family members – ensuring everyone has an equal opportunity to apply for such a loan. Lastly, you cannot choose anyone whom you already share financial responsibilities with. For example, a partner whom you share a joint bank account or mortgage with will not be accepted. The person acting as a guarantor is risking their credit score if you do not make the repayments.

As with all other short term loans, lenders now offer a variety of guarantor loans online to better reflect the individual needs of modern borrowers. Generally, guarantor loans are available between £1,000 and £5,000 but some lenders will even go up to £10,000. The repayment terms for these loans generally run from 3 to 60 months, making them a flexible option to fit your budget.

Understanding that people need to borrow money for a variety of reasons, and at different times in their lives, guarantor lenders take various criteria into account when considering an application. If you have a CCJ or default, a guarantor loan may still be an option as lenders will assess your ability to repay the loan. The creditworthiness of your guarantor is also taken into account, so as long as they have a good credit history and you can show you can afford the repayments, you should be fine even if you have bad credit.

Unfortunately, there is no such thing as a guaranteed loan. This is because when a person borrows money the lender has to complete a series of checks, including credit checks. Whilst guarantor loans are available to people with very bad credit, the person that they choose to act as a guarantor for their loan has to have a good to excellent credit rating. The guarantor will have to prove that they are financially capable of taking over the repayments for the loan if the main customer stops making payments or misses a payment. The guarantor will have to provide details of their income and expenditure and of course, they will be subject to a credit check.

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If you have a bad credit score or have not taken out credit previously, it can be difficult to obtain credit. A guarantor loan for bad credit can be a great option to help get the funds that you need and can help to rebuild your credit score. Online guarantor loan providers will report back to credit reference agencies each month, giving you the chance to show your ability to make loan repayments regularly and on time, which could steadily improve your credit rating over the term of your loan. This could make more mainstream credit products available to you in the future.

If you are a young borrower or have never taken out credit before, it is possible that some lenders will turn you down for credit. This is due to you not having built up a credit score yet. Guarantor loans can help with this as it enables a young person to gradually build up a credit score while being assisted by a guarantor.

Most lenders, when paying out the loan, will send the money to the bank account of the guarantor. This is mainly as a fraud measure and to ensure that the guarantor is fully aware of what is going on with the loan. The guarantor can then transfer the loan into your bank.
If your payment is not received on the due date, most lenders will notify both you and your guarantor as soon as we are aware. They will always try to resolve the situation with you first to avoid escalating matters unnecessarily. If a repayment plan is arranged with the customer, the guarantor will usually be made aware too.

If your loan remains in arrears the company will attempt to take a payment from the guarantor as per the terms of your loan agreement.

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What do I need to get a Loan with CUJ Loans?

  • Over 18 Years of Age
  • Income over £400 Per month
  • Have a Bank Account with Debit Card
  • Be a UK Resident
  • All Credit Scores Considered
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