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COVID-19 Update: Dear customer, during this time of uncertainty, TFS Loans will not be taking new loan applications and have temporarily suspended all new lending.
If you currently have a loan with us and have been affected financially by the COVID-19 pandemic, please click here for ways in which we may be able to work with you during these difficult times.

(Please note: our offices are closed today for bank holiday Monday. We reopen tomorrow 9am)

How does the application process work?

If someone you know is applying for a loan, and their credit score is less than desirable, you may not understand the difficulty they have obtaining a loan. When you’ve got poor credit, hundreds of alternate loan options aren’t available to you. Especially from high street or online lenders and even banks. Very few credit cards,  loans and  mortgage companies accept people with poor or no credit history. If a borrower with poor credit applies, they’ll be turned away. However, there is a way.

Traditional Lending

A guarantor loan from TFS is a more traditional way of lending. Back before the creation of digitised credit ratings, banks allowed people to borrow loans based on trust. So now, we’ve brought the old ways back. As a guarantor for a borrower’s loan, you’ll be able to help them get a leg up on their finances and borrow money should they need to. If you’re wondering about how the application for one of our loans works, you’re in the right place.

When a Borrower applies for a TFS Loan there is a simple process to go through before we can approve the loan and transfer the money. It involves both the Borrower and their Guarantor. We have created a helpful infographic to explain the process in detail. It can take less than 24 hours to approve the loan and transfer the money providing we can get hold of both the Borrower and their Guarantor. On average a TFS Guarantor loan takes 2-4 working days to process.

Application Stages

The first stage in the process is for the Borrower to complete the online application form on the TFS website, or they can give us a call on 0203 476 4170 and apply over the phone. They will be asked to give basic contact details for themselves and their Guarantor.

Then we will contact the Guarantor via phone to take some further details and run a credit check. We will let the Guarantor know immediately how much we can lend to the Borrower and we will contact the Borrower to let them know too.

We then email/post out documents for both the Guarantor and Borrower to sign and return. Emailing is quicker but it’s up to you how you prefer to receive the documentation. Once we have received the signed documents we may ask for some additional information (e.g. bank statements), but in most cases this is not necessary.

We make one final call to the Guarantor to check they have no further questions and confirm when/where the money will be deposited. We then transfer the funds into the Guarantor’s chosen account for the Guarantor to give the funds to the Borrower.

At all points in the application process you are welcome to call us on 0203 476 4170 and we will keep you updated via text and email. For more information on becoming a guarantor and what it means to be one, visit our Guarantor Hub.

Return to main Guarantor Hub

Loans are subject to status and affordability. Consolidating debts may increase the term and the total amount payable.

Before entering into any credit agreement please make sure you can afford the monthly repayments, we recommend that you seek independent advice if you are unsure of any of the terms of our agreement. There may be other taxes or costs, not paid through us or charged by us, that you have to pay in connection with the agreement.

Late repayments can cause you serious money problems. For help go to

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