It is EXACTLY that...
You
should be able to get a loan (unsecured) for the £38K. That is if you are fortunate to have a positive bank balance, and can take a years repayment holiday on any other commitments you might have. You then have a seperate contract to arrange. This is the providing the security of up to £40K. House, parents house, baby brother, access to the wife or perhaps your soul. If any of these could be considered worth that then that would be a good guarantee. Or perhaps just a signature from a sponsor (parent) that they will recover any repayment you cant if you leave the company/get sacked within the bond period.
You have got to love this game