When you co-sign a loan, you agree to repay another person's obligation if the borrower defaults for whatever reason. In the friend's instance, as mentioned above or family member, it signifies they're a high-risk borrower, and the lender wants to know that if they can't pay back the loan, you'll take over and make the payments. This not only aids the applicant in obtaining a loan, but it may also assist them in obtaining a loan with a lower interest rate and expenses. Finway has the best consultants for a smooth process.