2014 Lender Lists:

Short Term Loans | Payday Loans | Instalment Loans | 12 Month Loans
Doorstep Loans | Guarantor Loans | Logbook Loans

George Banco is the newest guarantor lender on the block, having launched a few months into the 2014 year at www.georgebanco.com. Getting straight to the product specs, between £1000 and £5000 is available between 12 and 60 months, although the maximum terms require large sums to be taken. On their loan calculator they head up a representative APR of 62%. £1000 over 12 months here would cost £286.16. This is more expensive than GuarantorUs at £216.21 and the market leader Amigo is for instance also cheaper at £236.72. They haven’t pitched a leading rate as they allow tenants to back the applications that adds risk.

This tenant must be aged at 25 or above and they must of course have a good credit score behind them. Just to add that if the person standing in for the application is a homeowner then no price reduction will be made. The George Banco guarantor loans can be managed through the equipped logins at www.georgebanco.com. This lender is open between Monday and Friday from 9am until 5.30pm. As I’m aware, they have spent a considerable amount of money on the technology side and in the process can provide fast decisions. They state that after approval the funds could be received within 48 hours.

It has been interesting to see the guarantor sector grow as it has done. In the previous post we made an introduction for LendFair who are yet another recent entry within this niche. There is now so much choice available across the market and yet the demand is still relatively small. The main feature of these George Banco loans is of course that homeowners are not required and they are more cheaper than UK Credit who also don’t need them. This lender has took on a membership with the CCTA and they have already started advertising considerably online and so they have started out well in this increasingly competitive sector.