Do you want to make a big purchase but do not have enough cash on hand? Or maybe you need urgent cash after the entire loan approval process?
The entrepreneurs in the need of quick money want to cover expenses like payroll, rent, utility bills, and inventory. But one of the biggest questions is which loan should prefer to handle the expenses. In normal lives, people also face some financial emergencies like a wedding, vacation, medical crisis, car repair, and other various unwelcoming expenses.
But, short-term loans can be a lifeline during such emergencies. Such type of financing will not only provide opportunities to companies but also help seasonal businesses in purchasing inventory to prepare for higher volume in upcoming months. The duration of short-term loans is around one year. Some moneylenders also offer such loans for a period of fewer than 2 years also. When obtaining a short-term loan, you reasonably need to repay the loan much more quickly than either one or two years, and often within 90-120 days as per the industry average. As compared to other types of loans, the short-term loans are distinguished by smaller loan amounts, higher interest rates, shorter repayment periods, and weekly/monthly repayments.
But getting approval of the entire short term loan in Singapore from a bank is not counted as an easy process. Luckily, there are many licensed moneylenders available in Singapore that are well-known for providing instant loans with a quick approval process. These trustworthy moneylenders are currently and regulated by the Singapore Ministry of Law. Any law violating law and regulations can fall under a huge risk. This concludes that borrowing money from licensed moneylenders a safe option. Well, we here come up with a compiled list of top licensed money lenders in Singapore below.
Table of Content
4 Best Money Lenders in Singapore
- Cash Direct
- Crawfort Finance
- Cash Mart
- Monetium Credit
4 Best Money Lenders in Singapore
Cash Direct is a reputable and licensed moneylender in Singapore. It grants a myriad of loans at competitive interest rates, including short-term loans, payday loans, personal loans, and small business loans in Singapore. From school loans to mortgage loans, handling monthly expenses in Singapore is tough. The Cash Direct helps you through your financial difficulties whether you need smaller amounts of funds or want to handle some unforeseen emergencies. Both individuals and businesses who find themselves in financial strain can take assistance regarding this from Cash Direct. With a quick and easy loan process method, the reputable money lenders of Cash Direct will grant loans for managing medical emergencies, sudden financial disruptions, or other financial hardships.
As a licensed moneylender in Singapore, the Crawfort also has won an award from Singapore’s Prestige Brand Awards 2019. The moneylenders of Crawfort always assist their customers with high-quality services and care. This is the most famous and reputable moneylender in Singapore who fully complies with the laws and regulations and can handle the lending tasks responsibly. It is a well-established and trustworthy financial organization, providing affordable moneylending solutions for both Singapore citizens and permanent residents. Whether you are looking for a short-term loan or personal loan, the Crawfort is a convenient choice to digitise the entire loan process. By following some simple loan application steps, the consumers can easily receive the status of their application in less than an hour.
Recognized as Singapore’s prosperous brand, the Cash Mart is a private money lender company as they present an immediate loan strategy at the most reasonable interest rates. Cash Mart surmises the uniqueness of everyone’s economic necessities and then attempts to provide products led by market trends analysis, legal manners, and a sensation of importance. Singapore’s leading private company is also accessible in Philippine stores and presents pragmatic and most suitable loan explanations to everyone. With more than 50,000 customers, the company also allows fast and secure services on approving the loan. Aided with high ethical measures, the affordable loan products in Cash Mart are not only managed with a smooth quick loan process but also with simple terms. This is how they preserved their sincerity and well-built reputation in Singapore.
choosing the right mattress is no easy task? Monetium Credit is one of the best-licensed moneylenders in Singapore. The company is committed to stocking the best possible clarifications to defeat financial needs. The dedicated and extremely skilled team of Monetium Credit admires its customers and clients with honesty, uprightness, and authenticity. The main motive of this agency is to assist the best affordable solutions with ever-changing community and requirements. From mortgage loans to managing personal expenses, the Monetium Credit is available to present amenable proposals, ensuring that they gain the maximum assistance expected with insignificant strain on their liquidity. At Monetium, the moneylenders also believe in attempting equally high norms of service along with efficiency and compassion.
In order to protect yourself from illegal money lenders, you must always go through their website and check – are they licensed or not? It is an easy way to hire a reputable moneylender or Singapore loan company. With the availability of various licensed moneylenders, you have got multiple options in choosing the reliable one. But licensed moneylenders are those who work under the Ministry of Law (Registry of Moneylenders) and fulfill all the requirements. In addition, a legal moneylender will only charge a 10 % fee from a customer. Before signing the contract, you can also check the reviews and their terms and conditions.