While borrowing money is generally seen as risky, using a licensed money lender from Singapore has some benefits that most banks are not able to offer.
Here are four reasons why using a licensed money lender for either your personal or business loan is strategic and advantageous.
Not only is applying for a loan online confidential, but a licensed money lender from Singapore will employ robust credit policy models so your loan will be protected and secure.
You are aware of the interest rates and payment schedule
Licensed lenders are normally more flexible in their approach to repayment, and allow you to choose how comfortable you are with the payment schedule.
Typically, banks or any other lending association offer loans with high-interest rates and sometimes you are left with unexpected costs due to penalties.
Faster approval time rate
Instead of waiting weeks for your application to be processed after a lengthy trip to a traditional bank, all you need is a laptop, requested requirements and time to fill out the application.
Then, if your application meets the criteria, the loan can be processed within 24 hours!
No lengthy paperwork to fill out
Emergencies can happen at any time and without warning, and applying for a loan can be a quick process that is accessible and stress-free.
The instructions are easy to follow if you have relevant documents, and it’s convenient as most Singapore licensed money lenders are open seven days a week.
Bad credit doesn’t always matter
Traditional banks often use a stricter and more rigorous procedure when evaluating your credit, while Singapore licensed money lenders are more flexible in their approach.
So if you require a personal or business loan and feel as though this information could be applicable to you, take advantage of a licensed money lender that offers more favourable lending options.
If you need to improve your current cash flow, or require money urgently, be sure you take a loan from a licensed moneylender in Singapore.