How to Find a co Signer for a Personal Loan

If you need to find a co-signer for a loan, and you don’t have a family member willing to step in and help, you may feel that you’re out of luck, and that you won’t get the loan you need.

Before you give up, however, see if you can’t use one of these five tips to find a co-signer, and get approval for that loan.


1. Ask your boss to co-sign your loan. Think about it. Your boss already trusts you with many aspects of his or her business. Consider the ways in which you could damage your boss’s business if you were dishonest or unreliable. If you were either of these things your boss would have fired you by now. You may be surprised to find that your boss has a high opinion of your honesty – not to mention having an insider’s perspective on your employment prospects – and will be happy to co-sign your loan.

2. Ask your business partner to co-sign your loan. Your business partner is already counting on you, and may not worry about adding a loan commitment to his concerns. You may find your business partner willing to co-sign for you without a second thought.

3. Ask a coworker to co-sign your loan. Your coworkers know whether you’re job is secure, and also how dependable you are. One of them may be willing to co-sign your loan knowing that you’re a very good risk, and that you will likely reciprocate by providing some favor in turn for them down the road.

4. Ask a client to co-sign your loan. Admittedly, this is a little risky, but if you’re certain of your relationship with your client, and the nature of your business permits it, a client may be very happy to be your co-signer. For one thing, your client may be far wealthier than you, and not very concerned about the loan amount. He or she may be prepared to take a small risk to help you, in order to solidify your relationship, and secure your loyalty.

5. Ask a friend to co-sign your loan. I left this for last, because nothing can jeopardize a friendship faster than a friend either refusing to co-sign, or worse, defaulting on a loan after their friend has co-signed for them. But if you’re willing to forgive your friend if they refuse to be your co-signer, and you’re sure you can meet your loan commitment, it may be OK to ask a friend to be your co-signer.

So don’t give up just because you need a co-signer and don’t have access to a family member that can help you out. Look at the other financially responsible people in your life. You may be surprised at their willingness to help you.