It happens that at some point in life, you are hard strapped with no cash for upkeep. Paying utility bills and rent becomes difficult. When faced with such a scenario, you have to look for alternative ways of making ends meet. The good thing is that such situations are only temporary. That is when the thought of approaching a money lender Singapore agency crosses your mind. The driving force here is that you will be able to repay the loan with the next salary or over a period of time.
Fortunately, the government has licensed numerous companies to provide financial services parallel to those offered by banks. A service such as procuring a short term loan takes a very short amount of time. Whether you need a payday loan, want to offset an emergency or buy something, money lender Singapore companies are always ready to assist. The process is very simple and fast as long you meet all the requirements in terms of eligibility and documentation. It is not as bothersome as what banks will take you through.
The repayment options are also flexible. A licensed money lender Singapore establishment will always try to approve your application so long as you have met all the requirements and documentation. The magnitude of these loans is that they will finance operations in your company. You are looking at unsecured business loans. All you are required to have is proof of Singaporean nationality and be above 21 years old.
Foreigners have not been left out either. If you are not a national of Singapore but are based here, you can still get an foreigner loan. You need a visa or passport and if you are working in Singapore, the lender will require an employment pass. The age limit also holds as it does for nationals. Once you avail these documents, then you will have a loan within a very short period of time.
Whenever you are borrowing a loan whether from money lenders or banks, ensure that you borrow only what you need. If you take an extra amount, fine, you will enjoy spending it. However, come repayment time and you will feel the pinch. Even if you are not a spendthrift and decide to place the excess money in a savings account, you will still lose. The interest the money will earn in a savings account is not commensurate with what you are paying for it. Just pay it back and reduce the loan amount. Use borrowed money for the purpose you had intended and nothing more.