Need help finding a guantor loan

kward83

Hi,

Im 25 and looking to get a guantor loan.
My bad credit from a few years ago is still there, not allowing me to get a personal loan.

I was late with a few phone bills many times (by a day or 2) and repayment for my loan in 2004. I paid the loan back 2 years early and no other problems really.

I had an operation 3 years ago, which has given me a hard time. I was teaching and training martial arts full time before.
But Im on the road back, I have a business set up, selliing animetoys and I teach martial arts too. I live with my dad, so I have money coming in, so not worried about repayments.

I was hoping you guys can help where I can find a decent guantor loan. I see alot of questions and anwsers on google, saying high street banks to give guantor loans. Money.co.uk, said tesco does it, but when i called they said they didnt.

My dad and 2 uncles have good credit and are willing to help if I get the information. My dad is with hsbc and barclays, and I joined hsbc for a few months now.

Im looking to borrow money to add a new site and stock to the business. And also help fund me with a few qualifications for my career, including a nutrition course and 3 month course in america learning strength and conditioning with marv marinovich. Which I want to bring back home and teach too.


Thanks

ILW

Just get your dad and uncles to lend you the money.

CLAPTON

if your dad/uncle are willing to act as guarantors then it's a lot better for them to get a loan in their own name and lend you the money
- the risk to them is the same if you can't pay
- the interest will be much less

so a win win

DCFC79

kward83 wrote: »

Hi,

Im 25 and looking to get a guantor loan.
My bad credit from a few years ago is still there, not allowing me to get a personal loan.

I was late with a few phone bills many times (by a day or 2) and repayment for my loan in 2004. I paid the loan back 2 years early and no other problems really.

I had an operation 3 years ago, which has given me a hard time. I was teaching and training martial arts full time before.
But Im on the road back, I have a business set up, selliing animetoys and I teach martial arts too. I live with my dad, so I have money coming in, so not worried about repayments.

I was hoping you guys can help where I can find a decent guantor loan. I see alot of questions and anwsers on google, saying high street banks to give guantor loans. Money.co.uk, said tesco does it, but when i called they said they didnt.

My dad and 2 uncles have good credit and are willing to help if I get the information. My dad is with hsbc and barclays, and I joined hsbc for a few months now.

Im looking to borrow money to add a new site and stock to the business. And also help fund me with a few qualifications for my career, including a nutrition course and 3 month course in america learning strength and conditioning with marv marinovich. Which I want to bring back home and teach too.


Thanks

A peach of a gem for a guarantor

Emmzi

personally I'd focus on one of your businesses at a time and not over stretch yourself.

Fiddlestick

Emmzi wrote: »

personally I'd focus on one of your businesses at a time and not over stretch yourself.

I see what you did there.

kward83

I dont think they want to get a loan in there name to be honest. Thats why Im thinking of banks with guantor loans. Any ideas?

kward83

DCFC79 wrote: »

A peach of a gem for a guarantor

I dont understand

kward83

Emmzi wrote: »

personally I'd focus on one of your businesses at a time and not over stretch yourself.

My brother looks after he business, I just help out and help build the cart.
I wont be overstretching myself

Emmzi

for practical purposes there is no difference between getting a loan in their name and them guaranteeing.

but if the business is so good, why not take your business plan down to the bank?

although now it seems to be your brother's business not yours. So I am confused.

CLAPTON

kward83 wrote: »

I dont think they want to get a loan in there name to be honest. Thats why Im thinking of banks with guantor loans. Any ideas?

why not??

probably because they don't understand what a guarantor loan is.

it's a loan they are totally responsible for; it will probably appear on their credit files; they are totally responsible for making the payments

however is this different from getting a loan themselves? (except the APR of course)