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Amigo Loans
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Amigo Loans Ltd is a United Kingdom-based finance-technology company. Founded in 2005 by James Benamor as part of the Richmond Group under the name FLM Loans, it rebranded in 2012. It was the first lender in the UK to offer Guarantor Loans to sub prime borrowers. The company currently employs over 200 staff at its Bournemouth headquarters.. Products Guarantor Loans of between £500 and £5,000 are offered via the website amigoloans.co.uk. The company claims not to use computerised credit scoring but they do have your info on ccj's and current or previous payday loans which obv comes from a credit check and every borrower must provide a guarantor who is a homeowner. Amigo Loans claim to charge interest daily and make no additional charges for early or late repayment meaning the product may be used as an alternative to controversial payday loans. Guarantor Loans have been compared to peer to peer lending schemes, such as that operated by UK based Zopa. Both Peer to Peer and Guarantor Lending employ elements of Collaborative consumption to overcome problems faced by traditional finance companies, the former employing the crowd to provide funding, whilst the latter uses collaboration between lenders and guarantors to reduce identity fraud and increase financial inclusion. Criticism and debate Amigo Loans has been criticised by UK finance website lovemoney.com for it's guarantor model. A later article on the same website however cited Amigo as being 'among the best for those without the finest of records'. Awards * The Sunday Times 100 Best Companies to Work For Awards 2008 * The Sunday Times 100 Best Companies to Work For Awards 2009 * The Sunday Times 100 Best Companies to Work For Awards 2010 * The Sunday Times 100 Best Companies to Work For Awards 2011 * The Sunday Times Profit Track Awards 2008 * The Sunday Times Profit Track Awards 2009 * The Sunday Times Profit Track Awards 2010 * The Sunday Times Fast Track Awards 2007 * The Sunday Times Fast Track Awards 2009 * The Sunday Times Fast Track Awards 2010 
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