A Sign of Credit Availability Easing?

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The economic situation may still look quite dire to some, but that hasn't stopped Guarantor Loans Company from unveiling new loan products and several online improvements to their loan process. Could this perhaps spell the start of brighter news for those seeking finance online?

New Loan Product

Customers can now apply for a new type of loan

The time is right to open up our lending options in response to our customer needs

Guarantor Loans Company (a prominent guarantor loans provider in the UK) has recently launched a new loan product that differs somewhat from their normal offering. In a joint unveiling that spells good news for online finance seekers, the web based loan company have also introduced dramatic improvements to their existing loan application process.

The move seems to highlight the easing of credit availability in the UK (albeit slowly) and the large shift from high street to online loan applications.

Their staple product, guarantor loans, are typically designed for people who are unable to get finance elsewhere or wish to consolidate other borrowing, such as costly payday loans. By stepping into the mainstream lending arena the company is showing that it now has the confidence to offer standard style personal loans. The loans are still aimed at the company's target audience of people with a less than perfect credit standing - an offering which has been scarce among lenders in recent years.

Their Online Director said in a recent statement;
"We feel we've been offering the UK a great product with our guarantor loans, but now feel the time is right to open up our lending options in response to our customer needs. Although the UK economic situation is still looking somewhat gloomy, credit availability is still easing and offering this type of product can only help improve things, both on individual and economic levels."

Alongside the new loan product, the company has also made "significant improvements" to their loan application process;
"More customers can now benefit from an entirely online application process from start to finish. This means customers can sign for their loan online and have their funds much quicker and easier than under the old application model".

You can also read more about these recent changes and find more related information in their Online News Section.

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