What Amigo Loans does

Amigo Loans Ltd was a UK-based guarantor loan provider incorporated in England and Wales, founded in 2005 and headquartered in Bournemouth. The company extended mid-cost consumer credit to borrowers who could not obtain loans from mainstream lenders because of their credit histories; each loan required a friend or relative to act as guarantor for repayment. The firm operated as a subsidiary of Amigo Holdings PLC, with Amigo Management Services Ltd providing loan servicing and ALL Scheme Ltd (SchemeCo) later created as a special-purpose vehicle to administer creditor redress. Distribution was direct-to-consumer within the United Kingdom only, and the customer segment was subprime/near-prime UK borrowers seeking access to credit.

Following a material rise in affordability complaints — compounded by the economic impact of Covid-19 — Amigo proposed a Scheme of Arrangement in 2021 to compensate affected customers, funded by an initial £15m Amigo Contribution, a potential additional Balance Adjustment Contribution of up to £20m, and a Future Business Contribution of 15% of annual consolidated pre-tax profits for four years. The Scheme was sanctioned by the High Court despite the FCA declining to support its methodology, and was formally completed on 28 August 2025. The operating entity was subsequently placed into liquidation in 2025, with residual unclaimed customer balances paid into court accounts at the Court Funds Office in Sunderland for customers to reclaim via court application.

Name

Amigo Loans

Legal name

Amigo Loans Ltd

Website

https://www.amigoloans.co.uk/

Company type

Private

Founded year

2005

Operating status

Closed

Headcount range

501–1,000 employees

Short description

Amigo Loans Ltd was a UK direct lender offering guarantor loans to consumers excluded from mainstream credit. Founded in 2005, the Bournemouth-based firm entered liquidation in 2025 after completing a customer redress Scheme of Arrangement.

Ownership category

akta.pro rank

Product category

Consumer Lending (Guarantor Loans)

NAICS

Other Nondepository Credit Intermediation (52229), Credit Intermediation and Related Activities (522)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Guarantor/Co-Signer Consumer Loans (FSAKAOAI)

akta.pro secondary industries

Specialty Consumer Loan Servicing & Collections (Subprime) (FSAKAOAJ), Subprime Installment Loans (Non-Prime Personal Loans) (FSAKAOAA)

Keywords

• Guarantor loans
• Consumer lending
• Subprime lending
• Mid-cost credit
• Alternative lending

Headquarters

HQ city

Bournemouth

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Core offering

Amigo Loans provided guarantor loans to UK consumers who were unable to obtain credit from mainstream lenders due to their credit histories. The model required a friend or relative to guarantee repayment, enabling access to mid-cost credit for underserved borrowers. The company is now closed and in liquidation, with a Scheme of Arrangement completed in 2025 to address customer redress claims.

Product overview

Amigo Loans operated as a single core product offering - guarantor loans. This was a consumer lending product where a friend or relative guaranteed repayment of the loan made to the borrower. The company is now closed and in liquidation. As part of the wind-down, a Scheme of Arrangement was implemented to process customer redress claims for those who believed they had valid complaints about unaffordable lending.

Differentiator

Problem solved

Functional benefit

Products and services

• Guarantor Loans

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• All Scheme Ltd (SchemeCo)coreOthersSubsidiary of Amigo Holdings PLC created specifically to administer the Scheme of Arrangement. SchemeCo was proposed without FCA support and was responsible for managing redress claims and distributing compensation to eligible customers.
• Ernst & Young LLP (EY)coreOthersEngaged by Amigo to provide independent financial review as at 31 December 2021, assessing the likelihood of administration and evaluating Amigo's estimates of outcomes from the proposed Schemes. EY performed work between 13 January 2022 and 28 February 2022.
• Financial Ombudsman Service (FOS)coreOthersOutstanding case fees owed by Amigo to FOS were included in the Scheme. FOS represents customers with complaints against Amigo and ranks as an unsecured creditor in the Scheme arrangement.
• Freshfields Bruckhaus Deringer LLPminorImplementation/ SI/ Consulting PartnerLegal advisors for the Scheme. Customers with objections to the Scheme could contact Freshfields at [email protected] before the First Court Hearing.
• Court Funds OfficecoreOthersGovernment body holding unclaimed customer funds paid into court by Amigo during liquidation. Located in Sunderland, SR43 3AB. Customers must apply through the Court Funds Office to claim money owed to them.

Scale indicators3 records

Recent moves8 records

Expansion highlights1 record

Direct peers

• Wonga: Wonga is a UK-based consumer lender that has also undergone administration and restructuring following FCA action over affordability and conduct. It is a useful reference point on regulatory and redress dynamics in UK subprime lending.
• 118 118 Money: 118 118 Money is a UK-based guarantor and personal loan provider serving borrowers who struggle to obtain credit from high-street lenders. It directly overlaps with Amigo on guarantor product and target customer.
• Satsuma Loans: Satsuma Loans (Basinghall Finance) provides guarantor-backed and instalment loans to UK borrowers who are typically declined by mainstream lenders. It directly competes with Amigo in the guarantor segment.
• TFS Loans: TFS Loans is one of the UK's longest-established guarantor loan providers, offering near-identical guarantor-backed loans to borrowers who cannot access mainstream credit. It is the most direct operating comparable to Amigo Loans' core product.
• Mr Lender: Mr Lender is a UK-based short-term and instalment loan provider serving credit-excluded consumers. Its customer segment and product risk profile are comparable to Amigo's mid-cost credit offering.
• Bamboo Loans: Bamboo Loans is a UK-based guarantor and unsecured lender targeting near-prime and credit-excluded borrowers. Its product set and target customer segment materially overlap with Amigo's guarantor loan offering.
• Oakam (Morses Club): Oakam (now part of the Morses Club group) is a UK subprime consumer lender offering small-sum instalment loans to credit-excluded customers. Its customer segment and risk profile are highly comparable to Amigo's.
• Buddy Loans: Buddy Loans is a UK guarantor loan provider, offering loans guaranteed by a friend or family member to borrowers with poor or limited credit history. The product structure and target customer base closely mirror Amigo's.

Others

• Financial Ombudsman Service (FOS): FOS is the UK statutory body that handled many of the affordability complaints underpinning Amigo's redress Scheme. It is a key counterparty and ecosystem participant rather than a direct competitor, but central to the regulatory and complaints dynamic affecting Amigo.

Broad incumbents

• Provident Financial: Provident Financial is a long-established UK subprime consumer lender (home credit and online lending). It operates across a broader product portfolio than Amigo but serves an overlapping credit-excluded customer base.

Market position

Weaknesses4 records

Competitive moat2 records

Key risks6 records

Key highlights4 records

Customer concentration

• Xx.com/amigoloans
• Facebookfacebook.com/amigoloansuk
• LinkedInlinkedin.com/company/695

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Amigo Loans