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Bamboo Loans

About the lender (A member of our panel)
Bamboo Loans are a guarantor lender who are able to provide alternative finance options for people who have been declined by other organizations because they use a guarantor to back the loan.



Bamboo Loans

Bamboo Loans is a lender built on the foundations of professional, transparent and ethical lending. It is an organisation that recognises how intimidating it can be applying for a loan and tries to offer consumers – especially those with a less than perfect payment history – another option. Bamboo has invested in a unique applications process that allows it to get a really good idea of whether someone is a good lending customer, even where a credit history is not perfect. It’s this approach that makes Bamboo a good option for anyone who doesn’t have a perfect credit record but is still able to afford and manage a loan and repayments. Bamboo has developed systems that allow it not only to take a more general overview when assessing a potential customer but also to be fast – decisions on loans and pay outs are made quickly to acknowledge that finance is often urgently needed.

How it works

Bamboo works on the basis of a borrower and a guarantor – so the customer is the borrower and someone they known and trust will be the guarantor. This is a guarantor loan and essentially means that if a situation arises where the borrower can’t make a repayment on the loan then the guarantor will step in and do it instead. If the borrower finds they can’t repay any of the loan at all then the guarantor repays it. This system makes it easier to lend to someone who might not have a perfect credit record but who is still able to borrow and repay responsibly.

Who can apply?

Bamboo borrowers need to be at least 18 years old and a UK resident with a UK bank account that is linked to a valid UK debit card. Borrowers need to be free of Bankruptcy or IVA claims and to have a regular income. It’s important that the repayments are affordable at the same time as any other monthly outgoings and this is something that Bamboo stresses to anyone that wants to apply for one of its loans. Borrowers also need to have a guarantor – this is someone who is at least 21 years old and a UK resident with a UK bank account linked to a valid debit card. A guarantor should have a good credit history, be employed and not a student. Guarantors must also be free of Bankruptcy or IVA claims and be able to afford the repayments if they’re called on to make them – a minimum income of £1,000 is usually required.

The applications process

Bamboo has simplified the applications process to make it quicker and easier to obtain cash when it’s required. Borrowers simply fill out the application pages, which takes a matter of minutes, and then the guarantor is contacted to ensure they are willing to be a guarantor. After that a decision is made on the loan and the cash is paid out within 48 hours – it’s quick, easy, transparent and professional.

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