Amigo Loans is the largest guarantor loan lender in the UK. The Bournemouth-based company has approved over 200,000 loans since they were founded in 2005.




Minimum Age


Debit Card

Yes - Direct Debit Facility Accepted

Credit Checks


Other Requirements

Guarantor does not have to be a homeowner

Same Day Transfer Available

Yes - Can take up to 48 hours based on checks

Loan Value Available

£500 - £10,000

Representative APR


Loan Length

1-5 years

Credit License Number


Representative Example: The Representative APR is 49.9% APR (variable) so if you borrow £4,000 over 3 years at a rate of 49.9% p.a (variable) you will repay £195.16 per month & £7,025.76 in total.
  • Direct
  • guarantor
  • credit
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As a guarantor loan lender, a customer can borrow between £500 and £10,000 for 1 year to 5 years and they must have a guarantor in place that agrees to repay their loan if the main borrower cannot meet repayments. The representative APR is 49.9% and customers can apply on their website through their ‘5 minute application’ which you can access directly by clicking through this page. If successful, funds can be transferred within 24 hours but usually takes around 48 hours.

Amigo recommend having a guarantor with very good credit history or one which is preferably a homeowner because if you cannot repay your loan, there is a good chance that someone with good credit will be able to. This is why Amigo Loans are popular for those individuals with bad credit especially if they have been unable to access funds from other commercial lenders. Amigo mentions that customers with bad credit are able to rebuild their credit rating if they pay on time because the information is passed onto a credit reference agency.

What Is The Criteria For An Amigo Loan?  

Borrowers with a bad credit history can still be eligible for a loan with Amigo, even if they have a County Court Judgement. However, the guarantor must be aged between 18 and 75 and a very good credit history, preferably a UK homeowner. The idea is that homeowners usually have a strong credit rating in order to get a mortgage and they are less likely to leave town if they have a property. For more information, read about who could be my guarantor.

The idea of having a strong guarantor is based largely on trust. Amigo believe that if someone with good credit history trusts you, then Amigo can trust you too.

How much you can borrow with Amigo Loans depends on a number of factors. The longer you have the loan open for with Amigo, the more you can borrow. For instance, if you want to borrow £500, the maximum time period is 12 months but if you want to borrow £10,000, you can repay over 60 months.

Furthermore, the more income you receive each month, the more you are therefore able to borrow and repay. Amigo will carry out affordability checks prior to approving your loan – this may involve confirming your salary with a copy of your pay-slip or bank statement in order to match up what you wish to borrow and can afford to repa

A key factor determining how much you can borrow will depend on the credit rating of your guarantor. The stronger your guarantor, the more you will be able to borrow as Amigo feel there is less risk in recovering their loan. Also, being a repeat customer after repaying successful loans in the past will likely increase the amount you are able to borrow.

How Do Repayments Work with Amigo Loans 

Repayments with Amigo Loans are collected in equal monthly instalments and are made by direct debit, card, over the phone or in cash at any one of 22,000 PayPoint locations. Customers can repay their loan at any point and it will reduce the total cost.

Here is another representative payment example: Representative APR 49.9%. Borrow £2,500 over 24 months, repay £154.54 per month, total repayable £3,708.96. 

Useful Information About Amigo Loans 

Company Number: 4841153

Interim Permission Number: 557709