All FAQs > I have been asked by someone to act as a guarantor on their Bamboo guarantor loan, what does this mean?

This means someone you know has applied for a loan with Bamboo and they need a suitable guarantor to support their application. We require a guarantor so that if the borrower is unable to make any payments at any time, the guarantor will do so.

Before you e-sign a Bamboo guarantor loan agreement you should make sure that:
check You receive a copy of the loan agreement that your friend, partner, relative or colleague is taking out

check You can see exactly what obligations they have as a borrower because you will be guaranteeing all those obligations

check You read the guarantor agreement fully and have a clear understanding of what these documents say and what you are guaranteeing

check You know:

  • the loan amount

  • the loan term

  • and how much are the monthly repayments

Once you are comfortable with the terms of the loan and are happy to proceed, you are ready to e-sign your Bamboo 'Guarantee & Indemnity' agreement.