Whether you’re looking to push your business to the next level, renovate your home, or pay off hefty medical bills, sometimes there is no better solution than a fast loan singapore. Licensed moneylenders provide an easy, hassle-free way to get cash fast. With their flexible metric for assessing applicants, you can be approved for a loan even if you have bad credit or no credit history at all!
A good credit report is a necessity for most people who want to borrow money, but what’s great about fast loans is that you don’t necessarily need a perfect credit score. Unlike banks, licensed moneylenders don’t look at your credit report as the primary source of your eligibility and can therefore offer more flexible metric for assessing your loan applications.
It’s also important to check a provider’s lead time for loan approval and cash disbursement. Some providers will promise a quick turnaround on loan approval, but don’t deliver on this in the end by requiring unnecessary documents like proof of residence, tenancy agreements, Singpass login details, and years of tax returns.
Another thing to note is that not all licensed moneylenders offer the same terms and conditions for their fast loans. Some have strict requirements for their applicants, such as only loaning to Singaporeans and not foreigners, and require more documentation including proof of income, employment records, CPF contributions, and recent bank statements. Others are lenient and may even allow you to withdraw your loan cash as many times as you wish, so it’s important to research before choosing which moneylender to borrow from.