Some lenders have really come to grips with reality and understood that interest rates of 1000% and in some case more are just not right for the long term. In order to offer you much lower rates they put together a different type of offering called a guarantor loan. These can be normal unsecure loans or payday loans.

How a Guarantor Loan works

What makes a guarantor loan special is that they introduce a concept called a guarantor. A guarantor can be anyone who trusts you enough to back your borrowing so that if you fall behind with your payments they will take over the payments. It’s a great way to borrow money if you have a bad credit rating and has the added bonus of helping you repair your damaged credit rating. Payday loans can be guarantor based or not, but you will get better and cheaper rates with a guarantor.

Guarantor loans are not just available for payday borrowers. Indeed anyone can get a guarantor loan, and this is really the core reasoning behind them. So long as the guarantor has a good credit rating and is willing to accept the risk that the borrower may pose then the loan is available to you. Naturally, you as the borrow should now want to make sure you do not go into arrears not only for your own credit rating but also for your guarantor.

Ultimately guarantor loans are for longer term loans and often for larger amounts than payday loans. This is largely because they are not based upon your pay day but rather a friends trust in you that you will pay the money back.

Applying to FLM Quick Loans is incredibly simple. There’s a single form to complete. Immediately after you’ve finished it you’ll then be taken to another display screen which asks you to affirm you are happy to remove the loan and consent to the terms and conditions. There’s no concealed stuff here – things are all laid out simply and is also pretty easy to understand.

Up to now the application process for the Guarantor and Applicant are usually pretty similar, the good news is things change.

After you’ve agreed to the particular terms, etc, you’ll arrive at a screen that provides a 6 digit program code. This is your particular person loan reference and you have to give this for the person who is going to be the particular Guarantor for your loan. They then utilize this when they first visit the FLM Quick Loans website in order to login before filling out their applications.

FLM Quick Loans will even email you the specifics of the loan and give back a text using the code in also. It is up to you to give it onto your guarantor.

After they’ve agreed to the particular terms a few things take place all at once. First off it has an identity check to aid prevent fraud. If your system doesn’t recognise all of them based on the information they will entered on their guarantor form then they may be inquired to provide their passport variety or their traveling licence number. Following comes the credit examine.

At this stage 2 checks happen. The first is for you, yet only 1 thing can be taken into consideration – are you belly up. If you’re not, next that’s it – you complete!

The check for the particular Guarantor is more in depth, although we don’t know the specific criteria, if you have alright credit history, then you should complete. However CCJs are a huge no-no for guarantors.

Short answer is no, you do not have to payback your FLM Quick loan on payday. In fact you can choose how you payback the loan, so long as you make the minimum payments each month then that is just fine. Obviously the longer you take to pay back the loan the more you will pay in interest. So if you can, pay back the loan as quickly as you can.

Some repayment examples

Dave from Sunderland borrowed £300 to fix his car:

Sharon from Leicester borrowed the maximum £500 to help her sister in an emergency. She paid the whole amount back when she got paid 14 days later.

If you want to be a guarantor for an FLM Quick loan then you use the Guarantor Invitation Code here. Simply type your Guarantor Invitation Code into the field marked “Enter your pin code here” and follow the instructions.

Why do FLM Quick use a guarantor invitation code?

FLM Quick believe in making the process of getting a payday loan as simply and quick as possible. One of the hardest parts to do quickly is linking a guarantor to the borrower, in the past this has stopped payday loans being paid out on the same day. By using this quick guarantor invitation code this linking between guarantor and borrower is many times faster.

You will be sent a text message from FLM Quick when the funds for the payday loan have left the account. Typically you can expect the money to become available shortly afterwards. FLM Quick do aim to live up to their name and payout the same day so if you apply end complete the loan details by 16:00 on a working day then the funds will usually be available to you within 2 hours.

Guarantor loans have lead the way in helping people with bad credit and the unemployed get loans, now FLM Quick have broken all the payday loans rules and are offering payday loans for as little as 199% APR. While FLM Quick are not a new lender they are a now a new payday loans lender as they re-jigged their quick pay out guarantor loan to be more suitable for payday loan borrowers.

How does FLM Quick compare to other Payday Lenders?

Just look for yourself at how much you will have to pay back if you were to borrow £400 over 30 days:

Payday Lender	Money to Pay Back (over 30 days)
	£37.70
	£100.00
	£118.00
	£125.48

The following are the most common questions and answers that are asked by people who want to take out an FLM Quick loan.

What do I do if I do not have a guarantor?

In order to keep the cost low FLM Quick payday loans do require you to have a guarantor. You do have one month to find a guarantor though so think about who you know who would be happy to help you.

How do I know the money has been put into my bank account?

FLM Quick will send you a text message when the money is deposited. Usually if you apply before 16:00 you will have the money within 2 hours.

How do I cancel my FLM Quick loan application

Send an email to unsubscribe@flmquick.co.uk and you will cancel your application, texts and emails will stop as well.

Has my loan been approved?

You will be contacted by an FLM Quick caseworker shortly after applying.

My Guarantor has been declined, what does that mean?

A guarantor can be declined if they do not meet the FLM Quick guarantor criteria. It is best to try and find another guarantor if you receive this message.

How soon can I have the money?

It is actually up to you. Create the application and provide a suitable guarantor before 16:00 on any working day and FLM Quick will pay you the money on the same day.

As part of the Richmond Group, FLM Quick are based in sunny Bournemouth on the South Coast of England. They have recently relaunched the FLM Quick payday loan but have been issuing payday loans for several years under the same name.

Why is it called FLM Quick?

FLM Quick has a big sister called FLM Loans who were the first major Guarantor Loans provider in the UK. After a short time it became clear to James Benamor that the same guarantor loan concept could be used to help provide cheaper payday loans and so FLM Quick was created and managed by Lewis Chandler.

Of course the Quick part of the name comes from the simple fact that it is a Quick payday loan. FLM Quick loans are same day loans and can be paid out in a matter of hours and not days.

Why chose FLM Quick?

FLM Quick was created to make payday loans cheaper and more accessible to people no matter their situation. 5 years later they are lending to more people that ever. In 2011 thousands of people every day become FLM Quick customers.

• Step 1 – Tell us how much you want to borrow.
• Step 2 – Complete the online application form.
• Step 3 – Get your guarantor to login using your PIN code or web link and complete the application online.
• Step 4 – FLM Quick will call your guarantor to confirm and payout the loan in the same day.

How the Repayments work

Repayments for Flm Quick loans are slightly different to normal loan providors.

• FLM Quick have no set period for you to pay the loan back.
• You can choose to pay the loan back as one lump sum, or just pay the interest for the month and roll the balance onto the next month.
• Typically FLM Quick customers choose to pay back a set amount each month which covers the interest and reduced the amount of the outstanding balance reducing the interest to pay the following month.
• Month interest on a loan is always less than 10% of the outstanding balance. For example for a £500 loan the month interest is £48.70 (based on 31 days).

Who can Apply for an FLM Quick Payday Loan?

Anyone can apply for an FLM Quick payday loan so long as they are aged 18 years old or over, have a mobile phone and are not in an IVA agreement or bankrupt.

Why do FLM Quick need a guarantor for a payday loan?

Having a guarantor enables FLM Quick to lend money for less to people who may have bad credit or no credit history. Less means FLM Quick costs more than half as much as other payday loan lenders.

No Credit Check?

In order to check if you are bankrupt there will be a credit check but this is all it is used for. Your credit score is not important.

There are payday lenders who offer payday loans with no credit check and with no employment verification requirement. One of the main payday lenders who have no credit checks and no employment verification is FLM Quick, a member of the Richmond Group. FLM Quick provide guarantor payday loans that allow the borrow to borrow from £100 to £500 with no credit check and no need for employment verification. The other bonus is they are the cheapest payday lender in the UK.