Flendr

Flendr offers a new type of guarantor loan where you can raise money from people you know and set you own interest rate, rather than paying 49.9% APR with a lender.

 

back-to-back-loans

 

Minimum Age

18

Debit Card

Yes

Credit Checks

Yes

Other Requirements

No guarantors required

Same Day Transfer Available

No, allow three working days for funds

Loan Value Available

Unlimited, You Choose

Loan Length

Unlimited, You Choose

Representative APR

You Choose

Borrow up to £2,000 from family and friends and repay an interest that you both agree on or pay no interest at all
  • Direct
    Lender
  • guarantor
    lender
  • credit
    check
Apply Now

Guarantor Loans From Flendr

London-based Flendr is a new and interesting approach to guarantor loans. Instead of applying online or getting funds from a lender, Flendr encourages to create your own loan with people you know and set your own terms in the following way:

  • Create a loan page
  • Explain what you want the loan for and how much you want e.g £1,000 for an emergency or trip abroad
  • Ask people you know to lend to you through email, social media and word of mouth
  • Select what interest rate you can afford to pay and for how long (select no interest at all if you want)
  • Automated repayment reminders via email
  • No late fees or credit checking required

flendr-loan-page

 

Flendr – Guarantor Loan Alternative

Flendr presents itself as a guarantor loan alternative. The thinking is that when you apply for guarantor loans,  you have to get a guarantor involved, tell them about your finances and they must be willing to pay off your loan – so why not get them to lend to you directly and avoid having to go through a guarantor lender and pay 50% APR.

Flendr believes that you shouldn’t have to pay a rate proposed by a lender but you should be able to choose a rate that you can afford which their platform allows. Flendr allows you to create a loan and manage repayments in an easy-to-use platform.

Key Features of Flendr

Flendr allows you to choose to make your loan page private or public and since their site is on a secure server, you know that your details are safe. The site is friendly on mobile, tablet and desktop and if you create your loan, you can receive the money within 3 working days.

Those people that lend to the borrower through the Flendr platform will pay £1 for contributing to the individual’s loan.