Other than providing you with personal loans, legal money lenders now also provide business loan to help companies with cashflow problems.
These loans can be approved very quickly, often within 1 to 2 hours. This is so much faster than how banks operate. Traditional banks can take up to 1 month before they approve your business loan application.
If your business is in need of cash to tide over a short period, you will not be able to afford to wait for 1 month for the bank’s result.
The advantages of taking a loan from legalised money lenders in Singapore are that they are very fast in their approval timing. With the right documents, you can be walking out of their office with the cash in less than a day. You will not be able to get this kind of results from the bank.
Please note that to take business loans from license money lender, according to the law, your business has to be in operation for at least 2 years. This is following the laws set by Ministry of Law for legal money lenders.
Do note that different companies will require different documents when applying for a business loan.
You should always check with the companies before heading down so as to avoid wasting a trip.
Our platform has already source many lenders in Singapore who will be able to provide loans to business. We have already talked to them and found out what they require for loans like these.
Instead of having to call each and every company to find out what they need, you can drop us your application. Our consultants will get in touch with you as soon as possible to find out more information. We will then refer you to the right company or most suitable company for your needs.
There are advantages from taking a bank loan. The interest with bank loans are much much lower. Bank loans will be more ideal if you can afford the time.
If you find that you are in need of money for your business operations, you can always try applying for a bank loan first. After all, the interest is much affordable.
Illegal Money Lenders
Be very careful of anyone who calls you or texts you asking if you need a loan. If they claim that they will be able to provide you with a loan WITHOUT going down to the office, please know that these are illegal lenders.
According to Ministry of Law, all licensed money lenders have to operate through their office. As such, please be very careful with who or what you encounter on and offline.
Best Loan Option will not provide you with any loan. Our service is just to match you with a proper money lender. If anyone claims to be from Best Loan Option providing loans, please know that is not us.