Even if you are under 18 years old it is still possible to borrow money from Fico Finance, as long as certain conditions are met. Please have a read through the following information, and check out the FAQ's page as well. If you have any questions after that, please give us a call and we'll be happy to help you out. Email us here with any questions.
Requirements for under 18 Loans
If you are 18 years old and you want to borrow money from Fico Finance then you must have someone who is prepared to act as a guarantor for your loan. As the name suggests, a guarantor is someone who will guarantee to repay the loan if you are unable to. The guarantor must be either your father or mother, or your brother or sister. They must have a good credit rating and be at least 25 years old.
If you ask someone to act as a guarantor for your loan, make sure you explain to that person that he/she is equally responsible for the loan and will be called upon to make payments if the loan goes into default.
What you can borrow money for if you are under 18
• Vehicle loan - for a car, motorbike etc
• Personal loan / cash - for a holiday or personal expenses
• Business loan - if you are young entrepreneur starting up a business.
If you can meet these requirements, contact our sales manager, Brian Newman. He'll help you with the paperwork and explain anything else you need to know. Phone (03) 548 3392.
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