When you have unexpected financial crisis like an emergency medical expense or a financial exigency in your family and you need the finance quick, and for various reasons, you could not get it from your bank or from your usual sources, you need to find alternate solution.
This is where a licensed moneylender in Singapore becomes useful. The benefit of using an approved moneylender is that it does not base its analysis on your credit history but rather on your asset credentials, or your ability to repay the amount you’re requesting for now. If you’re going to secure your loan, assets are considered, if not, only your cash income is considered. It’s always important to work with a proven and trusted moneylender like SE Loan!
It is the most important step is to check that the moneylender Singapore has a valid operating license and that its number matches the number found on the list of licensed moneylenders in the Registrar of Moneylender’s office.
3 other key factors to check include:
- The moneylender should be able to offer a range of loan products and services
- The loan application process should be easy and straithforward. Most moneylenders have online application options. They should also let you know the requirements depending on your financial status ie. salaried, commissioned or self-employed and citizenship status.
- Choose your moneylender using reviews and recommendations furnished by people you trust and who has used the services before.