More Singaporeans are turning to licensed moneylenders now as it’s easier to get a loan from them than from a bank -the reason being that a bank loan application is a long, tedious, and time-consuming process as compared to getting a loan from a licensed moneylender. If you want to know more about the differences between private money lenders and banks, check out this article here. This has led to the surge in the number of moneylenders popping up in Singapore over recent years. Even though the moneylending industry has been evolving, there is a fine line differentiating the licensed and unlicensed moneylenders. Here are some crucial factors that you must consider before taking a loan.
Tell-Tale Signs of a Licensed Moneylender in Singapore
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