A guarantor loan allows you to borrow £500 to £15,000 with the help of someone you know to act as a guarantor and agree to cover repayments if you cannot.
Guarantor loans are often used by people with bad credit or zero credit history as a way to borrow money, prove that they can make repayments, improve their credit rating and then access more affordable finance in the future.
The most successful guarantors include parents, siblings, close friends and colleagues from work – and you can essentially find someone with a better credit profile to be your guarantor.