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Published on: 20 Oct 2016 by marywu
The private money lenders Singapore - http://fastloan.sg/ are private companies or organizations to offer a personal loan to the individual who can help them go through the financial emergency. Because it has less requirement on the application documents so it has received welcoming from people especially the person who in poor financial situation. However, it also gives an opportunity to the illegal private money lender for profit-making, so when choosing the money lender, you should look for the registered private money lender which is legal and safe.
Generally, there are two reasons for choosing private money lenders Singapore, one is for an emergency, and the other is to start his own business. Because of some reason, the bank may cannot offer the loan for you, but the money lender can offer you even by fewer document. Every private money lender has their own requirement on document, but there are some common things that have to prepare before apply the loan.
There are several things that almost every registered private money lenders Singapore will asked, they are the proof of the income, bank account, credit history which to make sure that you have the ability to pay off the money in time; the second type is the proof of your identity, like your id card, resident permit, address and someone like these to make sure the can connect with your correctly. Beside these basic document, if you want to apply for a business reason, you have to offer your business license, company address, tax certificate, annual profit to show that you can repay the off in time. Besides these what I have to say, which is a kind of unsecured loan, there are still have the secured loan. For the personal money lender, the unsecured loan’s interest rate is higher than the secured loan, but there are a maximum number of the interest rate, so you can accord the interest rate to identify the legality of the loan.
To find the safe and registered private money lenders Singapore can be very easy if you use these following things. First, is to ask help from the Internet. Almost every money lender has their own website, you can look through the website and keep someone that you are interesting and make a comparison to select the most suitable one. The second is to visit the money lender in nearby just for information that help you find the legal one later. The best way to identify the legality of the company is to find if the company is registered with the government, you can find it in the government website which is specialized responsible for this kind of area.