Frequently Asked Questions by you at George Banco

What are the criteria you need to meet in order to apply for a loan?

  • You need to be 18+ years of age
  • Have a UK bank account
  • And a valid UK debit card
  • Not be subject to a current Individual voluntary arrangement (IVA) or bankruptcy order
  • Have a regular income
  • Be a UK resident (excludes Isle of Man and Channel Islands)
  • Ensure you can afford to make the repayments

What is the loan application process?

Before you apply for your loan at George Banco you will need to make sure you have a Guarantor willing to support you and who can trust you to pay the loan back.

Once you have filled out all the relevant information and requirements online, we will begin the assessment process to make sure all the information provided is correct.

Once the application and processing is completed you should expect to receive the funds in your nominated Guarantor’s account usually the same day.

Who can act as my Guarantor?

A Guarantor is someone who knows and trusts you and is aware of your financial situation. For example you could approach members of your family and friends who might normally help you out financially on occasions, specifically;

  • Parents
  • Grandparents
  • Brothers / Sisters
  • Extended family members
  • Friends

You could also approach work colleagues or your employer. Do not forget it is best to explain why you need the money and confirm that you can afford the repayments. Make sure you explain to your Guarantor their financial obligations should you fail to make a repayment.

What is a Guarantor loan?

A Guarantor loan is a quick and simple option. All you need is a friend or family member who knows and trusts you, and who can act as a Guarantor for you in the unforeseen circumstance that you were to miss a payment. A Guarantor loan is a financial agreement between a Lender, a Borrower and a Guarantor.

If you have previously been turned down for credit, George Banco may be able to help!

We offer Guarantor Loans from £1,000 to £7,500 at representative 49.7% APR (fixed) to UK residents who may not have been able to gain credit from mainstream lenders. These loans are repayable in fixed monthly instalments over terms of 12 to 60 months.

Simply apply online today and you could have money in your nominated Guarantor’s account the same day. Call us on 01225 941 941 for more information.

What are the criteria your Guarantor need to meet in order to be accepted ?

  • They need to be 25+ years of age
  • Have a UK bank account
  • And a valid UK debit card
  • Have a good credit history
  • Not be subject to a current Individual voluntary arrangement (IVA) or bankruptcy order
  • Be a UK resident (excludes Isle of Man and Channel Islands)
  • Have a minimum income after tax of £1,000pcm (inclusive of pensions)
  • Be a parent or relative to act as a student Guarantor
  • Ensure they can afford to make the repayments if the you fail to make a payment

How quickly will my loan be processed?

Once we have received completed Guarantor details we can have a loan decision for you in minutes. George Banco will then email contracts to you both. The funds for your loan will be sent to your Guarantor’s current account, usually within 48 hours of the process starting.

What happens if my nominated Guarantor doesn't want to proceed with the application?

In order to continue you will need to submit a new Guarantor. You do not need to fill in your details again, just go to your account and enter the details of your new Guarantor.

How long before my loan application expires?

We can only hold your application open for 45 days. Without completing all parts of the application, your pending loan request may automatically expire. To complete your application, go to your online application now.

Why have I been declined for a loan?

There are a number of reasons you may have been declined for a loan, these include:

  • IVA or bankruptcy
  • Over indebtedness
  • Inability to afford repayments
  • Another loan being taken out too recently
  • Does not satisfy minimum risk criteria and standards in accordance with the overall George Banco Risk Strategy
  • Existing loan has been open long enough

What is a loan pre-contract?

The pre-contract document is labelled ‘Important Information About Your Loan’. Please read it carefully as it covers some key features and risks of your agreement. It also contains information on the ‘Terms and Conditions’ of the loan and an explanation on ‘How We Use Your Information’.

The document can also be found in your George Banco online account under the ‘Documents’ tab. You can access these documents by visiting your account section

Upon passing our credit checks (which include third party checks), you will receive another email from George Banco containing your loan contract labelled, ‘Fixed Sum Loan Agreement’. That email will advise how to accept the terms of your contract to receive your funds and how to apply your eSignature, once you are comfortable to do so.

How do I apply my eSignature to my contract?

To apply your eSignature to your contract, sign in to your George Banco account and apply your eSignature by selecting the ‘Fixed Sum Loan Agreement’ under your ‘Documents’ tab, click on the online box labelled, ‘I Agree’, and enter your George Banco online password when prompted.

What is a Fixed Sum Loan Agreement?

The Fixed Sum Loan Agreement is the contract between yourself and your Guarantor and George Banco. The contract contains all of the details of your loan, which you can refer to at any time by signing in to your George Banco account. This agreement has also been placed in your George Banco online account under your ‘Documents’ tab.

How do you use my information?

We may use your information to check our records to determine whether or not you have previously made an application to us. For more information please refer to our Terms & Conditions.

Once your application is complete, we will perform credit checks on you and your Guarantor which include using third party information.

How do I contact you?

You can contact us here at George Banco 8am – 8pm Monday – Thursday, 8am – 5.30 Fridays and 10am – 4pm Saturdays on Tel: 01225 941 941. Alternatively you can email us at [email protected].

George Banco Address:
The Blue Building
Dairy House Farm
Beckington
Frome
BA11 6TE

What is Worldpay and how do you use it?

George Banco utilises World Pay for registration checks. A 10 pence test entry is submitted to perform initial card ID verification checks in accordance with UK regulations (this will be refunded back onto your card). This also protects George Banco and our customers from any potential, irregular misuse of the card.

This will contribute to and assist the accuracy and speed of the application process and pay out, once final acceptance has been given. There will be no formal authorisation of any kind, held against your credit limit at this stage of the application process.

George Banco.com Limited: Registered Office: The Blue Building, Dairy House Farm, Stubbs Lane, Beckington, Frome. BA11 6TE
Company Number: 8804623
Financial Conduct Authority Interim License: 662983
Data Protection Registration: ZA034249
George Banco.com Limited is a wholly owned subsidiary of George Banco Limited

George Banco Limited: Registered Office: The Blue Building, Dairy House Farm, Stubbs Lane, Beckington, Frome. BA11 6TE
Company Number: 08605069
Financial Conduct Authority Interim License: 659900
Data Protection Registration: ZA016420