Check your eligibility with a range of lenders in minutes
- Apply online within 5 minutes
- Includes government-backed schemes and other finance
- Free and simple quotes with no effect on your credit score
Amigo is a direct lender not a broker.
Founded in 2005, Amigo is the UK’s first guarantor loans company. By using the guarantor system, it is able to offer funding to self-employed customers who may be refused a business loan that is based solely on credit scores.
High-street lenders can have strict guidelines when it comes to self-employed borrowers. Many ask for two or three years’ worth of tax statements or company accounts, signed by an accountant. If you’re new to business, this could be very difficult – even more so if your credit score isn’t great. This is when Amigo could be a good option for you.
However, Amigo does charge higher interest rates than many in this market and its guarantor model won’t be right for everyone. If your business has a proven track record and you’ve been deemed by the banks or high-street lenders as creditworthy in the past, then you should be able to find a cheaper option elsewhere.
If you’re self-employed and have a poor or limited credit history, Amigo could help with a fast and flexible business loan. It’s straightforward to apply online at the Amigo website.
Amigo will decide how much it can lend to you based on what you and your guarantor can afford.
Amigo charges a variable interest rate that is charged to your loan amount daily.
You should only apply for an Amigo business loan if you’re certain you can meet the repayment terms. You must also:
Amigo will consider lending to you if you have a county court judgement or have defaulted.
There are several types of business loan out there. The right one for your business will depend on how much you need and how long you want to borrow for. You should consider your options carefully before taking out a business loan, especially one which requires a guarantor.
Considering an Amigo guarantor loan? Use our calculator to work out how much it will cost you each month and overall.
Amigo has built a name for itself providing guarantor loans of up to £10,000. But if you have less than perfect credit, or if you struggle to meet eligibility requirements, it’s not your only option.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.