Juo Loans review
Now in administration, Juo Loans was a short-lived guarantor lender that stated it wanted to do things differently for people who struggle to get finance.
In February 2019, Juo loans and its sister company WageDayAdvance went into administration. As such, it’s no longer accepting new applications. Like a number of long-standing payday loan companies, WageDayAdvance buckled under the sheer volume of complaints and compensation claims, and took Juo loans with it. We’ve left this page live for historical purposes.
Juo loans is a direct lender, meaning you’ll always know who you’re borrowing from. It provides small loans to people who might not be able to get a loan from the regular lending streams. Although the rates are quite high, with a guarantor these can be much lower, and you can reduce the cost still further by paying back early, with no hidden fees.
What is a guarantor loan?
Getting a guarantor loans means you have found someone who will back you up and agree to pay the loan should you be unable to. Usually this won’t be needed, but having them there means that lenders can offer you lower rates than with a poor-credit personal loan. The rates are still higher, but if you pay off the loan on time you may be able to improve your credit score and get a better rate next time.
Key features of Juo Loans’ guarantor loans
- From 1 to 3 years.
- From £1,000 to £3,000.
- Get a personalised quick quote with no impact on your credit rating. By entering just a few details you’ll get an immediate loan quote with options for both a personal and a guarantor loan.
- Fixed monthly repayments. The amount you pay will be fixed from the time you sign the contract, meaning no unpleasant surprises.
- Quick access to funds. Once you and your guarantor have been accepted, you’ll usually get the funds the same day.
- No set-up fees. Juo Loans doesn’t charge any hidden fees for taking out a loan.
- Repay your loan early at any time. Juo Loans has a policy that means you can avoid paying excess interest if you settle early.
- No early payment fees. What’s more it won’t charge any fees if you pay off your loan early.
Am I eligible for a Juo Loans loan?
Juo Loans looks for customers who are responsible people who are aware of their credit score and want to make it better. The only other criteria are that they are:
Most people will need a close friend or family member to act as guarantor, and this person must:
- Be over 25.
- Have a regular income
- Be able to make the repayments if the borrower can’t
- Live in the UK
- Be a homeowner or have good credit
How do I apply for a Juo Loan?
- Get a personalised quick quote and check out the options for personal or guarantor loans. Choose the one you think is best for you.
- Complete the online application form for your chosen loan.
- You’ll then have 30 days to add your guarantor to the loan by getting them to fill out their accommodation, employment and banking details. You will both find out as soon as they are accepted.
- You’ll receive a call to finalise the details of your loan. Once all that is agreed, the funds will usually be paid the same day.
Frequently asked questions
More guides on Finder
Nationwide FlexAccount current account review
Find out more about the Nationwide FlexAccount current account and how it works.
Nationwide FlexPlus current account review
Find out more about the Nationwide FlexPlus account and how it works.
Nationwide FlexOne current account review
Learn more about the Nationwide FlexOne account to see if it’s right for your child
The Credit Thing card review 2022
Aiming to revolutionise the credit industry with a virtual card, The Credit Thing card is launching in the UK.
Loans Warehouse review
Learn more about how credit broker Loans Warehouse works.
Funding Circle Business charge card review 2022
Funding Circle is making its debut into the business credit card market with its brand new charge card. Here’s what we know so far.
Juni business account review
Learn more about Juni’s business account for ecommerce and online marketing entrepreneurs.
Credit cards with Open Banking in the UK
Discover which credit card providers offer Open Banking in the UK and how it could help you.
Butter review 2022
Spread your flights, hotels and shopping purchases over 10 instalments with buy now, pay later provider Butter.
Lenders that use Open Banking 2022
Learn more about how Open Banking works and how it could benefit you.