It is very much important to do your in-depth research before opting for your preferred moneylender. Never make the mistake of falling into the trap of unprohibited money lenders a.k.a loan sharks or you might just end up sorrowing the bad outcomes along the way. While a loan shark might cultivate their supply of funds by dishonest means and get away with it, a legal money lender operates strictly under the Moneylender’s Act. Illegal money lending sources may run the risk of getting in trouble with the authorities if they illegally practice their business or fail to comply with expected norms. To avoid any adverse effects, it is better to rely on reliable sources so that it would not be risky for the borrowers in any situation.
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There are several qualified money lenders in Singapore:
Lending Bee Pte. Ltd.
It is a well-established financial association in Singapore that is committed to making a difference in how people access to credit. As a licensed money lender that was given the right by MinLaw to pilot alternate business models for money lending, Lending Bee proposes unsecured personal loans of up to $300 thousand and longer loan tenures up to 36 months. They are also highly technological in debt consolidation schemes.
Credit 21 Pte. Ltd.
It is one of the top lawful and licensed money lenders for personal loans in Singapore, licensed by the Ministry of Law. They are committed to ensuring the best interests of our clients, therefore they ensure that all their dealings are transparent to the borrowers. They have also designed their loan packages to suit the necessities of every client.
GS Credit Pte. Ltd.
It is one of the top licensed money lenders in Singapore, obtaining as an argument its slew of 5-star reviews from satisfied customers. Their uncommon selling proposition is their expert care for financially-challenged individuals in crises. That’s easy to see from GS Credit’s array of loan packages, including low-interest personal loans, foreigner loans, bridging loans, and payday loans.
Katong Credit Pte. Ltd.
It is a company built on trust and integrity and these features have helped them grow tremendously over the years. They have built a diverse pool of clients from all walks of life and this has helped them become one of the most preferred and certified money lenders in Singapore. Accessing a loan in Singapore with poor credit is horrifying. The banks will directly reject your application or charge high-interest rates.