Founded in 2005, Amigo Holding is a UK-based holdings company which offers unsecured guarantor loans to clients with help of which they can correct or rebuild their credit scores. It was set up as FLM Loans by James Benamor and Richmond Group Ltd. In 2012, through various advertising campaigns FLM rebranded itself as Amigo Loans and removed all the fees. It got listed on the London Stock Exchange in 2018. Its subsidiary Amigo Loans Group Ltd was the first guarantor lender to get an authorisation by the UK regulator Financial Conduct Authority.
Amigo provides guarantor loan to the people who find it difficult to get loans due to their low credit scores like students and help them in achieving their financial goals. The loan is offered with no fees, hidden charges, or redemption penalties. Amigo believes that a guarantor can be a family member or a friend who knows the borrower better then the credit scores. So, the guarantor can support the borrower by agreeing to the repayment of borrowed money if the borrower fails to repay. More than 222,000 customers are backed by a supporting guarantor.
Amigo records the client’s repayments on their credit files, which can improve the credit scores of the customer. Customers can repay loan weekly or monthly in cash whichever way suits them. Amigo provides several services to enhance the customer experience. The clients can access their loan information any time via their online account. Both the guarantor and borrower are kept informed in case of any changes to their account.
Amigo Holdings PLC Nova Bldg, 118-128 Commercial Road BH2 5LT United Kingdom