Money is exactly what people need more these days. Love, friendship and other things a not a priority when money is not enough. We work and have a good education only because we want to have more money and buy things with them. Sometimes, there are unexpected circumstances when we need a loan. Unfortunately, people who are close to us often have the same problems or similar and can give us a wanted loan. Then people start to experience stress and feel like there are staying at a dead end. Modern society has a lot of options but most people are not ready to see all the opportunities. There is one thing known as a loan from a money lender, and it is extremely helpful when you think you can’t afford something. Money lenders in Singapore have licensed businesses so you shouldn’t worry about that. The government in Singapore has defined a strong regulation for business loans, bridging loans, foreigner loans, and cash loans so every licensed money lender and his clients are protected. On Loansingapore.sg you will find a catalog of Singapore licensed money lenders and their offers.
Do you know what bridging loan is?
This is really interesting category loans. They are needed when you will get your funding from another place but it will happen next few days or weeks but you need the amount immediately. They are called bridging loans because they are a bridge to the full financing. Often people who want to meet the end of some project or have a salary at the end of the month use this kind of loans. Their biggest advantage is that the amount is almost immediately in your account and the approval procedure is really short. In other words, if you want to get ahead of your funding, this loan is the perfect one for you. Sometimes these loans are used to feel the gap made from some taxes that you don’t expect financially. There are plenty reasons when people need money. However, bridging loans in Singapore are useful even if the money is used for some sale in client’s favorite store. The interest rate is higher than the interest rate in banks but it can’t be more than 4% per month – this is a rule set by the government for every licensed money lender. Cash loans are almost the same as bridging loans but usually, they are used by people who need cash immediately. Again, clients have to prove that they will be able to give back the money at the end of the period. Money lenders in Singapore will want some information about client’s income because as big the income is as big the loan will be. Of course, if you need a really big loan for a house or a car, then a better decision will be to book a consultation in a bank, not with the money lender.
Who can take a foreigner loan?
However, If you are a foreigner bank loan is not an option for you. Licensed money lenders in Singapore can give you a foreigner loan which is suitable for people who are still adapting to the new economy. Often people who migrate to Singapore but don’t expect to have money issues from the beginning. Unfortunately, prices in Singapore are too high and people who have come from a foreign country can’t manage easily. At the same time, they don’t have a job for more than 3 or 6 months and bank loans are not an option. Foreigner loans from money lenders don’t have so many conditions and foreigners are able to get one. Of course, there are some documents that are needed – passport, employment contract, and rental contract.