I have been asked to stand as Guarantor, what does it mean and what are my responsibilities?

FLM is a new concept in unsecured borrowing.

We don't look at credit scoring or residential status for the loan applicant. The reason we lend money with a guarantor is because we believe that an applicant's friends and family (their potential guarantors), know them better than a credit scoring system ever could. Therefore you are the best person to decide if we should lend money to someone.

We ask a guarantor to cover the monthly payment when the applicant may be unable to. This allows us to keep lending and because of this, we can accept thousands of people who would otherwise be turned down, and offer a lower APR and better service than other sub-prime lenders.

We think standing guarantor for someone is amazing. A lot of our customers haven't got any credit at all or have had bad credit in the past, they use FLM to establish or improve their credit file, and they wouldn't be able to do this without you.

To read our standard guarantor Terms & Conditions, click here.

If there is anything you don't understand in the Terms & Conditions, please email us at hello@flmloans.co.uk and we'll help you.