Amigo Holdings


Amigo Holdings is a guarantor loans lender. It is listed on the London Stock Exchange.

History

The company was established as a mid-cost guarantor loans lender by James Benamor in 2005. Benamor stood down as CEO, handing over the role to Glen Crawford, in 2015. In June 2018 the company was the subject of an initial public offering on the London Stock Exchange which valued the company at £1.3 billion.
The company announced in July 2020 that it would be providing at least £35 million in order to address consumer complaints regarding lack of checks on affordability when taking out a loan.

Operations

The company is a business which issues mid-cost loans with payments guaranteed by a borrower's family or friends. The amount lent is between £500 to £10,000, with a 49.9% APR, higher than loans from mainstream banks, but lower than high-cost products such as payday loans or rent-to-own. The company has secured around 90% of the guarantor loan market in the UK.

Ownership

Approximately 61.4% of the company is owned by Richmond Group, a business controlled by James Benamor, the founder.