Can a guarantor get a loan for themselves?

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Whilst somebody is a guarantor for a LendingMate loan, they can’t borrow another loan from us. You may only be on one LendingMate loan at any one time, as borrower or guarantor.

However, your guarantor may be able to apply for a loan elsewhere. They must pay your LendingMate loan back if you don't, so they should only take out their own loan if they will still be able to afford the monthly payments on your LendingMate loan, should they need to, and still have enough money to live their normal life.

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