The approval process of the Guarantor loans could happen hours after your application is received by the lender. You only need to wait for the phone and email for the next step after sending the application.
Getting approval for the guarantor loans
The approval of the guarantor loan could happen when you pass all the checks of the lender. Those checks are done to complete the final stages of the applications. When you are applying for a guarantor loan, you may need to be ready on getting a phone call. The lender will call you for a confirmation of the details on your application. The guarantor loans could be approved when the borrower has a promising guarantor. The borrower who cannot repay the loan can get approval because the guarantor is in the agreement to repay the loan on the behalf. The phone call is the most important part because the lender will make sure that both the borrower and the guarantor understand the term and conditions of the loans. Besides that, an email will be sent to the borrower and guarantor as the verification in the unique link. The link will lead you to the electronic loan agreement.