HOW IT WORKS
offers loans from €1,000 up to €50,000 over a one to twenty-year period at an APR of 7.9% variable. The loans we offer are unsecured loans and Guarantor Loans. As responsible lenders, we aim to do our utmost to give you a helping hand, and the Guarantor Loan provides us with the re-assurance that the loan will be re-paid in a timely and a regular manner.
An unsecured Loan works like this:
You need a loan, and we need to know that the loan will be re-paid, so we require that the loan we offer is guaranteed by the borrower that he will pay back all repayment on time.
In simple terms, this means that in case you can't make a payment, your Guarantor will make the payment on your behalf. Borrower must be aged 18-75, have a good credit rating and be able to demonstrate a regular source of income, or have sufficient cash reserves to be able to make payments if necessary.
Once your borrower is comfortable with the way the whole process works, they complete a simple form on our website, and on receipt of their details, we carry out a few simple checks on their credit history and their debt repayments record.
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Whilst this simple search is visible on the credit report, it does not have any effect on their credit score, as it would were they applying for credit themselves.
The only time your borrower's credit rating could be affected is if you, as the borrower default on your Loan repayments, and they can't make repayments on time.
However, if you as the borrower missed just one payment and covers it and repayments continue on time, then there is no negative effect on the credit report.
All being well, your own commitment to make repayments on time will result in a safe and amicable arrangement for you and for us as your responsible Lender.
We know that you will not want to fall behind with repayments, but if you as the Borrower do not or will not maintain regular payments, the matter may be passed to our legal representatives.