We offer guarantor loans in BC and Alberta, Canada. Apply to borrow up to $50,000 from us. We accept applicants with bad credit or no credit history because we don’t check credit at all.
What is a guarantor loan?
A guarantor loan is a type of loan that is co-signed or guaranteed by another person. This person is equally as liable for the debt as you are and is not released from that liability until the loan is repaid in full. Guarantor loans can thus provide the lender with an additional layer of security.
Can I get a guarantor loan in Canada?
Yes, No Credit Check Loans provides guarantor loans in Canada, specifically in British Columbia and Alberta. As a private lender, we currently serve Calgary, Red Deer, Edmonton, Kelowna, Vancouver, Langley and various other locations across those Western Canadian provinces.
What do the guarantor’s qualifications have to be?
In order to apply for a loan, at least one of the applicants must earn at least $4,000 per month or $48,000 annually. All forms of income are accepted.
What is the interest rate?
The interest rate for a guarantor loan begins at 15% and can go as high as 31%, depending on your application. Keep in mind that there is no credit check. Rather, we use our own methods to help determine a person’s creditworthiness.
What are the risks of a guarantor loan?
Lenders in Canada have several options to enforce their loan agreements, including hiring collections companies, garnishing wages, and seizing assets like real estate and vehicles. This can severely damage one’s credit and limit their ability to borrow again in the future. It can also be a nuisance to deal with creditors, lawyers and debt collectors. If one borrower does not pay the loan, the guarantor/co-signer can be subjected to all of those same consequences.
Can a guarantor or co-signer be removed from the loan?
No, not without our consent.
What is the process of applying?
To apply for a guarantor loan, simply fill out our online application. If you do so during business hours, an agent will usually reach out to you on the same day to discuss your file. Our approval process is fast and so is our customer service. If you are approved, you will most likely receive funds in your bank account by the next business day.
Regardless of whether you’re approved, we promise that we’ll let you know quickly. Further, if you have questions during the term of your loan we are always available during operating hours by dialing 1-888-924-3792.
What’s the best way to ensure approval?
In order to maximize your chances of approval, we recommend the following:
- be truthful on your loan application and disclose as much to us as possible. We’ll try to work with you to find a financing solution, regardless of how messy your situation might be
- have government-issued ID available
- be prepared to submit bank statements (so we can verify your and your guarantor’s income)
Ready to apply for a guarantor loan in Canada? Begin the process now by clicking below.