Finding a Legal Money Lender in Singapore: What You Need to Know

Article highlights:

1. Legal moneylenders play the role of commercial banks in Singapore.
2. Personal loans cannot be used for business.
3. Some stores let customers make a purchase with personal loan cards.
4. Legal moneylenders in Singapore are mostly private individuals and companies.
5. Bank loan takes a long time to process.
6. Legal money lenders process loans at a faster rate.
7. The lag in the processing of bank loans is linked to the central body they belong to.
8. Getting the necessary documents ready can hasten your processing time.
9. Commercial and non-commercial lenders will require some documents.
10. Private lenders have higher interest rate.

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