If we apply for a loan from a bank and the bank refuses to lend money on the grounds of poor personal conditions, we can provide a guarantor to the bank, which will help the loan pass quickly. The question is, where can I find a loan guarantor? What conditions do you generally need to meet? Let's have a look.

Loan guarantee letter

There are two main ways to find a loan guarantor: you can find it among relatives and friends; It can be found in a third-party guarantee institution. According to the provisions of the Guarantee Law, the third party and the creditor agreed that when the debtor fails to perform the debt, the guarantor will perform the debt or bear the responsibility as agreed.

According to the regulations, to become a loan guarantor, these conditions need to be met: no involvement in this case; The enjoyment of political rights and personal freedom is unrestricted; Having a fixed residence and permanent residence in the local area; Have the ability to fulfill the guarantee obligations; There is no obvious record of breach of contract.