With many banks across the UK refusing to provide their clients with loans due to the current economic climate, many people are struggling to obtain the start-up funding they need to start a new business.
It is essential that new businesses are formed in order for the economy to become stronger during these harsh financial times, so aspiring entrepreneurs should consider more innovative ways to source business funding, such as guarantor loans.
Successful entrepreneur and Dragon’s Den star, Deborah Meaden, has recently stated that family and friends can be a big help when creating a new company, but also commented that it’s imperative that there is a good agreement in place.
Anyone looking for an alternative to a high street bank loans, could consider to Amigo Loans, who can provide their clients with loans which are based on their social scores (how much they are trusted by their friends and family) and not their credit scores.
To qualify for an Amigo loan, a person simply has to have a family or friend that is willing to guarantee a loan from �500 to �5,000 to be repaid over 12 to 60 months. Therefore, they will judge the individual by whether or not they are trusted by their loved ones. The guarantor has to be a UK homeowner with good credit and should be aged between 23 – 67 years old.
So anyone that wants to follow in Deborah Meaden’s footsteps can consider a guarantor loan from Amigo Loans.