A money emergency can knock on your door at any time, with or without your knowledge. It can be a wedding, personal reasons, or a business. Or you could run out of money by the middle of the month and need a few thousand to get through the rest of the month.
In such cases, most of the people are struggling to arrange credit or borrow money to face the financial crisis. If you are ever in dire financial straits and need a quick loan, licensed moneylenders are the best option for you.
Traditional loan methods take a long time. Also, banks will review your financial status and credit history to calculate the likelihood of the money being returned.
Depending on the type of loan you need, licensed moneylenders offer a loan package that suits your needs.
Who are licensed moneylenders?
Licensed moneylenders are private lending companies with legal authority to lend money to people in need of quick credit. They are registered with the Singapore government and strictly adhere to the rules of the Department of Law. Rest assured they aren’t acting like the horrible loan sharks people hear about. Usually private companies finance the moneylenders to create loan packages.
How do I apply for a loan from licensed moneylenders?
Sending a loan application is very easy. For example, U credit licensed moneylenders have an online form on their website that you can fill out. Most licensed moneylenders will review your online application within a day.
Depending on your needs and the purpose of the loan, they become licensed moneylenders Check your finances and credit history. Moneylenders care less about your creditworthiness than a bank. This means that even if your creditworthiness is below average, the chance of getting a loan from moneylenders is high.
What Kind of Loans Can You Get From Licensed Moneylenders?
Licensed moneylenders offer personal loans, business loans, wedding loans, short term quick cash, and more.
Moneylenders in Singapore follow the legal requirements for the size of the loan and the interest rate. Since they have a license to lend money to borrowers, they are required to lend a certain amount of money depending on the type of loan.
If you need a large amount of money, a bank may be a better option for you. However, you may prefer licensed moneylenders for quick loans such as a medical emergency, payday loan, or even a vacation loan. With all the required documents in, you can have your money received in just a few hours.
There is a possibility that the interest rate of licensed moneylenders may vary depending on certain factors. But you get reasonable interest rates and faster loans.
Licensed moneylenders offer quick loans and help you understand what loan amount is right for your needs.
Once you have completed all the procedures and papers in the moneylender’s office, you will receive your loan amount immediately.
Advantages of Choosing Licensed Moneylenders to Obtain Loan.
There are several advantages of preferring licensed moneylenders to get a loan.
- You can get a loan within a day: Licensed moneylenders will review and process your loan application quickly. In some cases, you may receive loan money in less than an hour after reaching their office.
- Affordable Interest Rates: Licensed moneylenders have very affordable interest rates. U Credit offers one of the most attractive interest rates in Singapore.
- Hassle-Free Loan Application: If you are someone who hates the monotonous traditional way to borrow, maybe it is time to check out the best licensed moneylenders. Remember, licensed moneylenders like U Credit have less red tape. You have a smooth document review process.
- Moneylenders are your trusted friends: you can borrow money from licensed moneylenders as you borrow from your friends. When you need quick money, moneylenders can loan you it as fast as your friends would. You can trust them.