You need to know about Licensed Money Lenders in Singapore. - GoldenCredit

A private money lender in Singapore is an individual or company that provides loans to borrowers who cannot obtain financing from banks or other traditional financial institutions. These lenders typically operate outside of the conventional banking system and offer loans with higher interest rates but also provide access to funds quicker than a bank would. Private money lenders often require collateral and may also need a guarantor.

private money lender in Singapore

There are various private money lenders in Singapore. You can find these lenders through online directories or search for them on Google. Some of Singapore's more popular private money lenders include Capital World, Credit Hub Capital, Credit 21, Credit Excel Capital, CreditMaster, and I-Credit.


6 Things You Can Use A Personal Loan For From A Licensed Private Money Lender in Singapore  


A personal loan does not restrict how the borrower uses it. This makes it one of the most flexible loans available. It is also the go-to loan for anyone who needs some cash. Here are six different things that one can use a personal loan for:


1. Wedding & Honeymoon Expenses.


Because weddings are so expensive, a wedding loan is beneficial. Of course, it is desirable to save money before the wedding, but the bride and groom occasionally need more funds to cover all the costs.


The bride's gown and the location are two of the most expensive components. Other, more modest costs include cake, photography and videography, flowers, and wedding coordinator fees. A personal loan might fill the gap if the cash on hand is insufficient. The couple may occasionally have enough money for the wedding but not for the honeymoon. To enjoy your honeymoon, take out a loan to pay for it. 


2. Pay off credit cards.


The interest rates for personal loans are typically lower than those on credit cards. A personal loan may be helpful if you are having trouble paying off your debt due to unpaid credit card amounts. Simply take out a loan, settle the credit card balance, and then gradually pay back the loan. The benefits include cheaper interest rates and a precise debt maturity date.


3. Medical costs.


Although medical insurance is crucial, there are times when it is not enough to cover all of a person's costs. Sometimes it might not cover some procedures or be seen as purely cosmetic. Fertility treatments, orthodontics, some dental services, bariatric expenditures once the bill surpasses $5000, and cosmetic surgery are some of the medical procedures that might not be covered.


4. Home renovations.


The most common next step after buying a new house or HDB apartment is to modify it and make it distinctly yours. 

Consider taking out a personal loan to complete the renovation if there is a cap on the amount you can borrow for a renovation loan and the amount is insufficient to cover the renovation.


5. Funeral expenses.


Most people don't think about how they will pay for their funeral expenses. The surviving family members must therefore prepare a plan for the individual's passing. Funerals are expensive affairs that require paying for transportation, funeral director fees, casket costs, cremation costs, and other expenses. If the family is unable to pay for these expenses out of their loved one's estate, they may need to take out a personal loan.


6. Moving expenses. 


Even though Singapore is a small country, moving homes or businesses nevertheless has a significant financial impact. In rare cases, the relocation may also require the purchase of new furnishings. The mover will be able to pay the movers and pay for the complete move with the help of a personal loan. The loan can be used to cover the cost of buying new or extra furnishings as well.


Personal loans are easily accessible and can be used for just about anything. In addition, licensed private money lenders offer personal loans even to people with bad credit, provided their current income can cater to the monthly repayments.


As a licensed private money lender, Golden Credit operates under a strict set of rules by the Ministry Of Law. We understand the urgency of taking a loan to tide you over financial emergencies. This is why we strive to provide you with the loan in the shortest time possible.


#moneylendingfirminsingapore #personalloan #goldencredit #creditscore

#moneylendingSingapore #moneylendingfirminsingapore #personalloan,

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