Many people need a loan at some point in life, but hindrances like poor credit affect their ability to get a formal loan. Often friends or family members step in as guarantors to support, and banks and lending agencies ensure the legality of the entire process. This is also the case of lease agreements, where guarantor letters and forms can be used to secure the property owner in case of growing debt on the tenant’s side. Guarantor forms are also present in recruitment processes, where hiring agencies or companies need additional level of security when vealidating candidate’s application and experience.

The platform supports common file types, including PDF, DOCX, XLSX, PNG, JPG, TIFF, and emails. After data extraction, data appears in a file, ready to be downloaded as CSV or XLSX or safely imported into the internal processing system of your choice through API or Zapier.

Guarantor forms vary across countries, meaning you’ll have to adjust the data you want to extract depending on where you’re from. However, some information stays universal throughout, such as names and contact information, loan/debt details like the amount and the purpose of the loan, date, and signatures naturally, as well as terms and conditions. Some guarantor’s receipts may include a section specifying the conditions under which the guarantor’s responsibility will be terminated, such as when the loan is fully repaid or when specific requirements are met, i.e., termination clause. Alphamoon’s technology is designed to handle these unqiue needs, so you can adjust the fields you wish to pull from your documents.