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1AP Capital Pte. Ltd.

1AP Capital Pte. Ltd.

1AP Capital is a highly professional licensed money lender company. It issues Personal loans, Renovation Packages, Business loans, and Education loans. 1AP Capital is the ultimate solution to all emergency cash situations. They believe in service excellence. Being a foreigner meeting all the financial needs could be tricky, flexible 1AP Capital foreigner loans can make your stay longer and easier. 1AP Capital has helped thousands of foreigners to access easy financing over the year.  

Borrowing unlicensed money is illegal in Singapore. So, be very careful while getting loans. 1AP Capital company is Licensed, legal, and reputable Money Lender in Singapore specially for foreigners.

Loan Packages:

We have a trained team of loan assistance to help our clients to get the best loan product. Their financial advisors will look at your income and advice you loan products accordingly.

Here is the detail of the loan offered by 1AP Capital.

Personal Loan: In life we all short for money sometimes.  For our financial shortfalls, 1AP Capital has a solution in the form of personal loans. A personal loan is a kind of loan which helps you meet your current financial needs. You usually don’t need to submit any security and collateral while getting a personal loan plus you have the flexibility to use this money the way you want.  

Fast Cash Loans: Getting a loan in Singapore on poor credit history is very tough. But 1AP Capital offers you fast cash loans to meet your daily financial issues. This loan is the best alternative to traditional financial loans because they are easily accessible. You get the money in 30 minutes.

Foreigner loans: Now foreigners can apply for “Foreigner loan” in their financial needs with all the benefits that they deserve. It involves a simple process that is not demanding and has no restrictions. Credit 21 gives financial freedom to foreigners to cover their expenses. 

Wedding Loans: A wedding is the most important event in any person’s life.  But having a perfect and grand wedding costs you much. We ensure to make your life-changing event luxurious. Get an affordable wedding loan to fund your big day through our easy application process.

Home Renovation Loans: Renovate your ideal home with the help of 1Ap Capital Renovation Loan. After getting keys to your dream house, first, you want to do is to renovate your home. It can include; change the flooring, repaint the house, and much more. 1AP Capital will borrow you the 6X amount of your monthly income. Single applicant and the joint applicants can request for this loan.

Payday Loans: Unlike other loans, applying for a payday loan is very easy and fast.  Credit 21 offers you the facility to apply online. Start your payday loan application from the comfort of your home.

Things to know before applying for a loan:

One should be very careful with their finances. If you need extra cash and planning to get cash, there are some important points that you should know before getting a loan.

  • The bank should be licensed with the government.
  • The bank should be flexible. 
  • The bank should have a physical address. 
  • The bank doesn’t rush you in any loan but gives you financial advice first. 
  • The bank should have good customer reviews and rating.  
  • The bank should have clear documentation.
  • The financial advisors should be responsible, honest and patient.
  • The bank doesn’t have hidden terms and conditions. 

Eligibility Criteria:

In order to get loans, you must fulfill certain criteria.

For Singaporean:

  • The borrower’s age should be between 21 and 65.
  • Minimum monthly income of RM 3,000 
  • He/She should not be an undischarged bankrupt.
  • Must have a valid proof of income.
  • Original IC.

For Foreigner:

  • The borrower’s age should be between 21 and 65.
  • Minimum monthly income of RM 3,000 
  • Billing proof.
  • Valid Work permit.
  • He/She should not be an undischarged bankrupt.

How much you can borrow?

1AP Capital offers you a variety of loan packages. Pick one which suits you the most.

  •  If your annual income is less than S$ 20,000 you can borrow up to S$3,000.
  • If your annual income is S$ 20,000 or more you can borrow up to 2X of your monthly income.
  • If your annual income is S$ 30,000 or more you can borrow up to 4X of your monthly income.
  • If your annual income is S$ 120,000 you can borrow up to 8X of your monthly income.
  • You can borrow any amount of money if your annual income is more than S$120,000.

Interest Rates & Repayment Methods:

Most people had hard times while getting loans because interest rates happened to change during the tenure period. That was a hard thing for borrowers to digest. So, in October “Moneylending Advisory Committee” introduced a 4% cap interest rate. 1AP Capital follows this rule strictly. 

Their promise is to give you a loan package that you can easily pay. But if you still have a problem and unable to pay a loan. You can contact with their assistants they will give you an alternative repayment schedule. You can make repayments through Cheque, Cash, and transfer funds via online baking.

There are different methods of repayment.  Equal repayments: This is a good way to repay your loan throughout the tenure period repayment amount remains the same. Choose Equal installments when you are willing to pay a large amount of money as installments at the beginning of the tenure period. You pay an equal amount of money in the entire tenure period in the Fixed Equal Payment method.

News Room:

1AP Capital’s newsroom is full of new and unique loan packages. Let’s take a quick look at 2019 latest loan packages.

Foreign Domestic Helper Loans: Singapore is one of the best places to work as a foreign maid but sometimes things get tough. Singapore has a high cost of living and even considered among the most expensive countries in the world even with a good salary one might be forced to seek alternatives to get through your next paycheck. Foreign domestic worker loans help to rescue in this case.

Weight loss loan: Having a dream body without going to the gym is everyone’s wish. But it costs you a lot of money. If you are lack of funds to have better weight loss surgery, don’t worry.  We offer you wonderful weight loss loan packages at low-interest rates.

Customer Reviews:

1AP Capital Pte.Ltd is a licensed moneylender in Singapore. The company was established with the vision of providing competitive services to the public. The world of marketing has been changed now and social media reviews are important for your brand’s reputation. Customer reviews ensure that your business is genuine and you are providing real services.

“Extra fast services!  the loan officer describes the loan services in a very simple manner for me to understand. I’ll get a loan from them if required.” ~Jimmy shed.

“I’ve been their customer for quite a while, they always help me when I have many outstanding loans. Thank you!” ~Lauren Warren.

1AP Capital Pte.Ltd has got a 3.8/5 rating. It is the #1 reliable moneylending brand in Singapore and recommended by hundreds of people.

 

Three mistakes to avoid when advertising your services in Singapore

Mistakes when advertising services

The whole world is now being run on the principles of capitalism. Whether you like it or not, but it is true. And it is good to accept the truth. Otherwise, it would become difficult to survive. Yet, change is important, but before it, it is important to accept. So for now, you need to live according to them in this capitalistic corporate world.

The corporate world is all money. To earn money, you need to brand yourself, and your company, or your product. To brand yourselves, and your entities, you need to understand the psychology of a common man, in order to captivate his or her eyes towards your cream, burger or services which you provide.

In the word of today, it is easy to brand, promote or advertise the company or product. After all, we have Facebook and Instagram. And the two are used the most. Therefore, it can be used to increase the visibility of a particular brand among the public.

Although, we have social media, the chances of making mistakes are not reduced. That’s the reason, why a few achieve success in building their business or entrepreneurship in the whole world.

No doubt, some mistakes can only be improved with experience, but there are some mistakes which are made by all new entrepreneurs and newly-built start-ups. The three most common mistakes of them:

Free of cost:
No doubt, money has value. Everything is bought from it. But, it does not mean to avoid spending money on those things which are important.
Today’s passionate or going-to-be businessman and woman try to use social media to promote the page. They usually ask their friends to like it. But, dear future entrepreneurs, your friends won’t be able to give you that result which social media’s advertising service can give.
Their services can double the number of your followers and posts or tweets which the reader had seen or read. Therefore, they are usually recommended to save money, and spend that money in promoting the brand.
The more you spend on advertisement, the more sales you will get.
So, don’t run behind “FREE OF COST”, and spend some money on development.

Pictures are enough:
It is the mindset of the majority of the population of the whole words that advertising agencies do not require to read a lot. It is the perception of a common man or woman that advertisers need creativity only. So, dear businessmen and woman, let me explain to you that everything needs reading, whether you are passionate to become write or engineer, reading books is must in all.
Reading different books gives you knowledge. And knowledge makes a person able to think about different things from different perspectives. That’s what makes him or her make creative, empathetic and intelligent. And that’s what is needed when advertising.
So, read, find your target audience and advertise your brand.

Consistency:
Majority of the struggling entrepreneurs cannot remain consistent. They don’t update their page or social account of their brand. And that’s the biggest they commit. Because, in this way, they lose engagement, which is required to achieve success in a short time.
Thus, they should update their accounts daily of their office. In this way, it will be important for viewers to visit the page.
So, don’t lose hope, and remain consistent. Consistency, with few spoons of patience, lead you to success.

So, these are the top three mistakes which entrepreneurs commit a lot. But, if you want to keep yourselves away from committing them, then read above. It will definitely help you!
Good luck for the future!

U Credit (Pte) Ltd

U Credit (Pte) Ltd. singapore

U Credit (Pte) Ltd. It is a professional licensed money lending company that offers a variety of financial loans to suit customers’ requirements. It also provides legal financial loans to Singaporeans, Singapore PRs and foreigners holding valid employment pass in Singapore. Their top priority is to help customers manage financial emergencies in life.

U Credit offers you the most reasonable interest rates in Singapore. They are the most trusted money lenders for all kinds of loans in the country. If you are a foreigner in the country and find yourself struggling with cash flow issues. This is where U Credit foreigner loan comes into the picture. As a foreigner, you have the advantage to get a flexible loan to meet your financial needs. Whatever your emergency is you can access quick cash to sort out your problems.  

Available Loans:

Personal Loan: A personal loan is money borrowed from a moneylender that you pay back in fixed monthly payments or installments. Most personal loans are “unsecured” means you are not required to provide a collateral. U credit (Pte) Ltd offers personal loans with a tailored package you are guaranteed that all your financial needs will be met and yet it will be easy to repay the loan.

Vacation Loan: Vacation loans are like a personal loan but are tailored to be more affordable compared to credit cards and personal loans. With a U Credit vacation loan, you get to choose a flexible package that suits your expenses and financial situation. 

Foreigner Loan: When you are in a foreign country getting a loan can be daunting and like any other citizen a foreigner can face a financial crisis at any time. U credit helps to take the burden off of your shoulder and help you out of your crisis. These loans are highly flexible and are tailored to meet your financial needs. You can get access to quick cash to sort the problem out. 

Fast Cash Loan: If you are struggling with your day to day finances and need quick access to cash to sort out an emergency then you can consider a fast cash loan from U Credit. These loans are suited for short term expenses and are a quick way out to take care of your financial emergency.

Business Loan: Singapore has a large number of small business enterprises. There are many people who have made their dreams into reality and created successful businesses in the country. If you are an entrepreneur in Singapore U Credit is here to help you achieve your dream and make it a reality by providing you with a business loan to help you start-up and get your business up and running.

Things to know before applying for a loan:

If you find yourself in need of financial assistance you can apply for a loan at U Credit (Pte) Ltd. There are a number of types of loans depending on your situation. While most borrowers may only focus on the cost of a loan there are a number of other equally important factors to consider before taking a loan. Here is a loss of a few of these.

  • Before going to a moneylender, consider other alternatives, like some financial assistance schemes offered by government agencies. 
  • You are legally obligated to fulfill any loan contract you enter into with a licensed money lender.
  • Think about whether you’ll be able to abide by the terms and conditions in the contract. Consider your financial obligations and your source of income. Only borrow what you need and are able to pay.
  • The law requires moneylenders to explain the terms and conditions of a loan to you in simple words and provide you with a copy of the contract. Make sure that you completely understand the terms and condition of the contract with respect to repayment schedule the interest rate charged and fees applicable.
  • You should consider all alternatives for the most favorable terms and not rush into a loan until you are satisfied with the terms and conditions.

Eligibility Criteria:

You need to fulfill the following requirements in order to loan from U Credit.

  • Age between 21 to 65
  • Permanent residence.
  • Annual income between S$ 30,000 to S$ 120,000.
  • Proof of residence
  • Good credit score
  • A copy of passport, visa or work permit

How much you can borrow:

U Credit offers multiple kinds of loan packages. You can select the one which suits you the most.

  • A person can borrow up to S$3,000 if his annual salary is less than S$ 20,000.
  • A person can borrow up to 2X of his monthly salary if his annual income is S$ 20,000 or more.
  • A person can borrow up to 4X of his monthly salary if his annual income is S# 30,000 or more.
  • A person can borrow any amount of money if his annual income is S$120,000.

Interest rates & Repayment Methods:

The interest rate is a key factor that you should consider while getting a loan. The maximum interest rate moneylenders can charge is 4% per month.  If a borrower fails to repay the loan on time, the maximum rate of interest a moneylender can charge is 4% per month for each month the loan is repaid late.

You can make repayments through Cheque, Cash, and transfer funds via online baking. There are different methods of repayment.  Equal repayments: This is a good way to repay your loan throughout the tenure period repayment amount remains the same. Choose Equal installments when you are willing to pay a large amount of money as installments at the beginning of the tenure period. You pay an equal amount of money in the entire tenure period in the Fixed Equal Payment method.

Newsroom U Credit:

U Credit’s newsroom is full of new and unique loan packages. Let’s take a quick look at 2019 latest loan packages.

Wedding Loan: Marriage and wedding are probably one of the most important decisions and events in a person’s life. Most couples dream of having the perfect wedding where the brides wear beautiful wedding gowns and the groom puts on suits that make them look more handsome than ever. Weddings are an event full of happiness and joy where friends and families shower the couple with blessings.

However, the wedding cost is not low in Singapore may it be a traditional Malay wedding, Indian wedding or a western wedding the entire event can cost up to thousands of dollars. U Credit (Pte) Ltd. Has a simple solution to this problem, should one require financial help wedding loans are a good source of support.

Short Term loan: Short term loans are for people who need fast cash for multiple urgent reasons. These are unsecured loans and a person has to qualify for them. Financial emergencies come up from time to time and we help by giving you cash on the spot, provided that you meet our requirements. We ask for particular documents that you would have to submit along with your application.

Address: 1 North Bridge Rd, #01-35, Singapore 179094
Hours:
Open ⋅ Closes 7:30PM
Phone: +65 6777 8080

What do you need to know about Unsecured Loans in Singapore?

unsecured loan singapore

The world is evolving at a fast pace. Similar to the needs of people are moving in the fast lane. Most of the people are stuck in situations where they need financial assistance. Savings are not enough they approach for bank loans. Well, further bank loans are divided into different categories to ease the facility of loans. One of the kinds that are most feasible and avail by the people of Singapore are Unsecured loans. Well, there are many benefits but as well as some cons of this loan. So, before you are going to avail the opportunity, just make sure that it is suitable for your position and not damaging anything directly.

Information is necessary for you to get the right loan and make a decision that is beneficial for your financial situation. This information will not only save from any trouble but you can ensure the security of your assets.

Banks might have a little difference in the policy but rates are almost the same. However, we will help you to understand the basics of Unsecured loans in Singapore in a precise manner. Just explore the article and you will get the information.

What is an unsecured loan?

Unsecured Loans are also preferred as personal loans. It is clear by the name that it is dependent on borrowers credit score. These loans are avail without any security of assets. A person must have high credit to get his loan approved.

Types of Unsecured Loans

These unsecured loans have different types which can include personal loans and student loans.

  1. Revolving loan: the loan can be spent, repaid and spent again. It is more like credit cards.
  2. Term Loan: this is the type of loan in which a person is responsible to pay equal installments till all payments are done by the term.
  3. Consolidation Loan: pay off credit cards or signature loans fall in the category of consolidation loans and also unsecured loans.

What you should be concerned about the loan?

If a borrower defaults on a secured loan, the lender can reclaim the collateral to earn the losses. On the contrary, if a borrower avoidances on an unsecured loan, the lender cannot claim assets. However, the lender can take other actions, such as ordering a collection agency to assemble the debt or taking the borrower to the law court. If the court rules in the lender’s favor, the borrower’s pays may be enhanced, a lien may be located on the borrower’s home or the borrower may be otherwise ordered to pay the debt. However, before the approval. The borrower needs to understand the criticality and need of the loan. So, before you file for approval, ensure that you have complete clarity on your needs. Take guidance from a different lender. It is always good to have different options. A slight change in the policy can make it feasible for you. Therefore, do not forget to do your research before applying for Unsecured loan in Singapore. 

Do Successful Entrepreneurs always take big risks?

Entrepreneurs

Entrepreneurs are the persons who start their own small business. These are the people who’re capable of doing a successful business because of their sharp minds and intellectual talents. Basically, they start their business on a small basis and take high steps to change their lives. 

Entrepreneurs take risky steps for the business anyhow these steps provide loss in the start but they’re very beneficial for the future. 

Are you looking to start your own small business and feeling worried about the growth? Seriously speaking the risky steps are the crucial part of every business and without them, the business cannot go high.

Why successful entrepreneurs always take big risks?

The successful entrepreneurs always take the big steps to grow their small business to the high mountains. Let’s discuss the reasons behind them.

  • As you take more steps you become more aware of the business rules. You start feeling confident as you gain the knowledge of all the tools, procedures and the methods. This thing makes them fear free and they start learning more because of the new risks every time.
  • You set your daily goals and move from impossible to possible. The entrepreneurs divide their daily tasks and start making dollars on a daily basis. No doubt they have to face some loss mainly in the start but this loss is far better. The small loss can be compensated through daily profits.
  • The successful entrepreneurs take the regular risky steps which make them unstoppable towards the destination.
  • If you don’t take the risks and don’t keep the daily investments surely you’ll be able to gain much success. If you do a tiny investment surely you’ll gain a very small profit. If you spend much on the products, website designing, marketing, advertising surely you’ll get a large number of customers in a very short time. The money costing factors can put a lot of benefit for the profit of the future.
  • Learn about the business very carefully and do regular research for development. Do the best practices for the success of your business. Make the checklists and the handbooks for the ways to go to a higher level.
  • The regular risk takers become so confident about the flaws of the business. It makes them succeed in the future. These risks make them much aware of the ups and downs. In this way, they don’t take any harmful steps in the future.
  • More experiments make you learn fast and do proper planning. The risks boost communication skills and make new customers. New risks lead towards new improved services. New innovations move you towards new ideas and success.
  • As the market grows much fast and the new services always impress the customers. Taking new risks make you learn the new ways thus there’re higher chances of your business growth.
  • The risks save your business from the economic downturn. When you face competition you get awareness about the products and the prices in the market.

In the last, it has been clear that the risks give greater chances for the establishment of your business and you become confident in persuading the customers towards you.

What’s the cheapest way to borrow money in Singapore?

cheapest way to borrow money in Singapore

Getting a loan in Singapore is not an easy task. The country holds some proper laws in place for the money borrowing with the annual fees, processing fees, and then interest rates. Whereas, there are ways through which you can get the loan on cheap terms that will help you in meeting your financial needs. 

It is somehow fortunate for the residents or foreigners in Singapore that they can reach out to the reliable banks for getting these loans that offer lenient repay terms. Some of these are mentioned below: 

Standard Chartered bank loan 

They offer you loan maximum up to $250,000 and a minimum $1000 or up to four times higher than your salary. The smart way to avoid hefty interest rate is by applying via MoneySmart. With MoneySmart, you just have to pay a rate of 3.88 percent per annum. For the personal loan appliers, the processing fees are waived that is $199 usually. The good thing about Standard Chartered is that they get you to cash the very next day that none of the other competitors like HSBC or Citibank offers. 

 Citibank loan 

You need to have a salary of $42,000 as a foreign worker or $30,000 as a Singaporean resident. They also propose you with the loan amount that is four times than your current annual salary. However, the interest rate is 4.55 percent annually. The loan is called Quick Cash by Citibank. The positive thing about Citibank is that you can get the loan approval within an hour and the amount is in your account the very next day. For the quick deposit of amount, you must be a Citibank account holder and if you do not have an account, then it will take approximately 5 working days. 

Citibank has stern regulations about late payments that are if you have not paid by 2 months, your loan will be halted and you will still have to pay the remaining loan amount as a penalty. The processing fee is nil for the Quick Cash customers. 

HSBC loan 

The HSBC personal loan is a kind of economical solution for all those who are in need of some big amount, but early repayment is stopping them to chase their desires. HSBC brings you the repayment period of up to seven years that is enough to pay bit by bit. The interest rates are 3.7 percent that is the most favorable as compared to the other banks in the industry. They actually have two interest rates that are 4 percent for those who have a salary amount of $80,000 annually. If you choose to pay early before 7 years, then the interest rate drops down to 3.7%. This bank also does not charge any processing fee, but the late payment has to be paid about $75 if you are unable to repay the monthly installment. 

UOB loan 

Before applying for the personal loan at UOB, it is advised to get the account or credit card as they pay via their credit card. While applying for the loan, you can get a credit card at the same time. They charge a bit higher interest rate that is 4.99% and your borrowing amount is dependent on your credit limit. If you are earning $30,000 per year, then applying for finance is not an issue here. They get you a quick loan approval while the submission timings are from 7 in the morning till 8 pm in the evening.

Is Getting a Personal Loan is a bad Idea in Singapore?

Personal loan Idea

Personal Loan can be a viable option in a variety of circumstances. First, let define a personal loan. Some loans are earmarked for a specific purchase. You buy a home with a mortgage loan; you purchase a car with an auto loan and you pay for college with a student loan.

But a personal loan can be used for just about anything. You can do what you want to do with it.

Getting a Personal Loan is not a bad idea at all! The main advantages of getting a personal loan include the following.

  •       Relatively fast
  •       No restriction on how you can spend money
  •       Don’t require any collateral

So, if you don’t have any assets like a home, or shares or gold to offer as security, and are in need of money urgently, this is perhaps the most convenient option. No doubt personal loans are very successful you can take it out for almost anything.  But its good practice to review your situation before entering into a financial agreement.

So, take a moment to read through the following checklist and ensure your personal loan makes sense and you really need it.

1) Do you have a real reason to get a personal loan?

Getting a small personal loan should never be thought of as a trivial or minor undertaking. While you can secure a loan for almost anything, it’s important to remember that the consequences for defaulting could be dire and life-changing.

2)What should you get a loan for?

When it comes to small personal loans, there is a range of sensible reasons why people choose to take them out. Using a loan to consolidate your credit card into one monthly payment is an attractive idea if taken out at the right time. This is because the interest rate you might get on your small personal loan could be far lower than your credit cards.

3) What shouldn’t you get a loan for?

Getting a personal loan in some cases, in others, you simply shouldn’t. Paying off a student loan is one of those cases where you shouldn’t. A student loan will normally come with a tax advantage and it’s possible that the government could offer a loan forgiveness program in the future. If you switched to a personal loan, then you aren’t eligible for either of these things.

4)Are you overlooking any important factors?

Getting a personal loan should never be a case of walking into your bank and signing on the dotted line. You’ve got to shop around and find yourself the best terms out there from the most reputable lender available. When taking out a loan, never accept anything other than a fixed interest rate loan as variable rate loans can turn out to be an expensive risk to take.

It’s vital that you examine your reasons for wanting a personal loan and work out if it’s really necessary. If you are certain about those reasons then you are good to go with a personal loan.

 

What you should know about the Foreigner loans in Singapore?

Foreigner loans in Singapore

If you are new to Singapore or are employed in Singapore as a foreigner? You might face a financial crisis and want to get a loan to resolve your problems. Then what you need is a foreigner loan. The good news is that in Singapore you can get a foreigner loan and advice with your loan will be provided by almost all licensed moneylenders.

Basic requirements to get a foreigner loan

Some of the basic requirements you need to achieve to avail a foreigner loan are as follows:

  1. Have a Work Permit, E-Pass, S-Pass or a passport.
  2. An employment letter sent from your company.
  3. Provide an existing Residential tenancy agreement.
  4. Must have a Paid Utility bill.
  5. Bank statement for the past 6 months.

Things to look out for when getting a loan

Before applying for a loan, you should know that the bank and check if it is licensed and the given package is ideal for you compare it with other banks or loan services. Confirm that the bank or moneylender provides all its customers the financial help they require. The interest rate is depending on the type of your loan; if it’s collateral-free then the interest rate will be higher if not then the interest rate will be low. But it is important to know the interest rate should not be exorbitant. Also here is a list of things you need to consider before taking out a loan.

  • Foreigners who each less than $10,000 annually can only take a loan of a maximum of $500.
  • Foreigners who earn between $10,000 to 20,000 a year can borrow up to $3000.
  • Foreigners who earn at least $20,000 can borrow up to six times their monthly income.

According to the new rules set by the ministry of law, moneylenders will also not be able to accept foreigners as guarantors, which helps the grantors from becoming liable to pay the debt if borrowers are unable to do so. Also, Moneylenders will not be allowed to lend more than 300 borrowers or exceed $150,000 in total principal loans to foreigners at any point in time. According to the new rule, the maximum number of foreigners loans a moneylender can give is 15 while not exceeding more than 50 foreigner loans a year.

What are the new rules for foreign loans from the ministry of law? 

  • The number of foreigners borrowing money has increased over the last few years and with these new laws, the credit association of Singapore said these new laws will be devastating to the industry. This new restriction will be used as an excuse to deny loan requests for foreigners who have a low income because of the low-interest rate and that the low loan will still be counted as a foreigner’s loan which is capped at 15 per month and 50 per year. So, most of the foreigners will lean towards the Loan Sharks.

    One thing to note about the new laws is that the moneylending authorities are also not allowed to refer a client to another company if their quota is full this will result in the foreigner to look other alternatives themselves which are a hassle in itself as most moneylenders would advise customers according to best of their abilities.
  • According to the new laws, the moneylenders can not advertise directly to any vulnerable groups which will result in low-income domestic workers to not be informed about the help they can avail from licensed moneylenders during any case of emergency.

    Foreigner loans already come with a higher interest rate as they do not have any properties or assets in Singapore which can serve as collateral.

Money Lenders in Singapore for foreigner

Money Lenders in Singapore for foreigner

Money Lenders in Singapore for foreigner

About 64% of the country population are foreigners and like everyone else in Singapore they can face financial emergencies and might not have savings for such rainy days. Don’t worry! Singapore provides you the best loan money lenders. So, after extensive research, we’ve come up with top Licensed Money Lenders in Singapore for foreigners. They are approved by the Ministry of Law. They are listed as follows (Be easy! sequence doesn’t base on any kind of ranking).

Katong Credit Pte. Ltd.

Katong Credit is a renowned moneylender company for foreigners in Singapore. Being a foreigner getting a loan from lenders with poor credit hours is not less than a nightmare. Either money lenders reject your applications or charge high-interest rates. Their terms and conditions for getting a loan are very simple and eligibility criteria are very easy. Their fast cash loan is designed to help you get quick cash. So, if you are a foreigner and facing financial crises, you are in luck as Katong Credit welcomes you. They offer very efficient and convenient loans for foreigners.

Credit 21 Pte. Ltd.

Credit 21 is one of the Trusted Legal Money Lender for foreigners in Singapore. They offer you the best personal loans. They’ve introduced different loan packages that must suit your needs.  Customer satisfaction is their top priority. To ensure their best customer services they have improved their process. If you are a foreigner and looking for a fast cash personal loan, Credit 21 money is your go-to lender. Their team of financial advisors has a solution for your all financial needs. They also have an online loan application portal, where customers can apply online and get feedback in 8 hours.

U Credit (Pte.) Ltd

U Credit offers you the most reasonable interest rates in Singapore. They are the most trusted money lenders for all kinds of loans in the country. If you are a foreigner in the country and find yourself struggling with cash flow issues. This is where U Credit foreigner loan comes into the picture. As a foreigner, you have the advantage to get a flexible loan to meet your financial needs. Whatever your emergency is you can access quick cash to sort out your problems.

1AP Capital Pte. Ltd.

1AP Capital is a highly professional licensed money lender company. It issues Personal loans, Renovation Packages, Business loans, and Education loans. 1AP Capital is the ultimate solution to all emergency cash situations. They believe in service excellence. Being a foreigner meeting all the financial needs could be tricky, flexible 1AP Capital foreigner loans can make your stay longer and easier. 1AP Capital has helped thousands of foreigners to access easy financing over the year.

Borrowing unlicensed money is illegal in Singapore. So, be very careful while getting loans. Above mentioned companies are Licensed, legal, and reputable Money Lenders in Singapore specially for foreigners. You can also go to other money lending institutes like Cash Express, FastMoneyLoans Singapore, SG Loan Singapore. They will provide you the best packages loan under low interest.

How FinTech is changing the world with new and innovative money lending ideas?

Fintech

No one can deny the importance of having a growing SME sector in a country as its regularly cited by governments and economists as key to any countries growth as a nation. In Singapore, SMEs account for nearly two-thirds of the working people and a large portion of GDP growth. But if these firms fail to get funding, their failure to thrive has a dampening effect on the larger economy.

For big national level companies and multinationals, the options are endless for accessing credit are established and numerous, but for startups and small businesses, the only solution is to seek a loan.  Their normal route for sourcing loans has been to contact the banks, but for those with no credit history, insufficient collateral, or no proof of a stable revenue stream for repayments, credit solutions offered by banks have remained out of reach – a situation ripe for technological disruption.  

This situation was even become worse by the Global Financial Crisis and subsequent credit crunch in 2008 when banks were no longer able or willing to extend credit of any kind, and small businesses or startups were mostly at the receiving end.  With limited credit resources available, they found few alternatives to the established banks and difficult choices regarding the future viability of their businesses. 

The traditional or manual banking system was too slow for SME’s to get funds to keep their business running and fuel its growth.  According to McKinsey, traditional banks’ average ‘time to decision’ for small business and corporate lending is between three and five weeks, while the average ‘time to cash’ is nearly three months. For those needing access to short-term funding, this effectively renders a loan solution irrelevant, creating a class of businesses underserved by existing institutional offerings. 

How technology can help us overcome this obstacle

Innovation and automation provided the breath of fresh air into lending markets. Computerized applications and back-office processes go part of the way towards delivering the kind of accessible solution that will ease SMEs’ short-term needs.  Many existing lenders realized that it is necessary to shift from traditional system to the new digitalized system they have caught on to this necessity and in some cases have leveraged technology to improve their response times. Digital technology, not just a way of delivering efficiency to existing processes, instead it is proving to be a paradigm shift in how such businesses are structured and run.  FinTech firms are putting pressure on the banks which have the advantage of building their business and systems from scratch and remaining nimble. FinTech firms are moving rapidly into the gaps not covered by the banks, thus they are filling the credit vacuum small businesses previously faced.  They are bringing the change which is much-needed innovation to move forward to a space that has remained traditional for too long.

Utilizing the potential of new technologies such as blockchain, big data, and smart analytics enables new business models to emerge: FinTechs have sharply realized that analyzing client data, including the flows of payments and remittances between counterparties, gives them a powerful tool for accurately assessing risk and creditworthiness.  

In addition to that, digital networks enable innovators to establish lending models that don’t rely on any 3rd party to manage risk and provide liquidity. Other forms of lending are lean, efficient and able to reach parts of the market previously seen as unprofitable or difficult to risk-assess.  This process of avoiding 3rd parties has leverages the inherent flexibility of electronic networks, putting borrowers in touch with lenders in a more direct and efficient way, with smart analysis functioning just like a match-maker to introduce borrowers to lender. 

It’s time to move to new lending models

Apart from making the process smooth, automation has removed the costs out of the process has transformed the economics of lending so as to result it is making smaller amounts cost-efficient to lend to, and smaller borrowers more feasible for both parties. Additionally, technological solutions have also provided convenience in the ways small borrowers can make repayments: in Singapore, technology-based lenders first enhanced the customer experience by offering simple repayments at post offices and via AXS machines. Today, repayments are run largely through online platforms, positively improving business processes for many SMEs each day.     

If you study the business case for FinTechs is mostly very compelling.  It is funded by investors instead of the banks’ reliance on depositors, FinTechs offering very innovative ways of lending are experiencing rapid growth and size of transactions they are handling are set to skyrocket. Statista projects from $64 billion in 2016, the global total could reach $1 trillion by 2025.  

And for lenders, the investment case can be very appealing, as they have to provide relatively low upfront capital demand, alternative lending can offer handsome mid-range return on investment. Across the U.S. industry, lenders gain an average 4.4% return, making alternative lending significantly more profitable than a savings account or other low-yield investments. Investors willing to offer higher-risk loans can access yields of 10% to 12%. In some markets, like India, returns can reach 18-26%, according to lender Faircent.com.

Responsible business practices you must follow

We have to keep in mind that the alternative lending space for SMEs is still very new and both parties involved need to take a responsible approach to some forms of alternative lending.  China, which took to the Peer-to-Peer (P2P, one of the faster-moving types of alternative lending) model very passionately and experienced rapid growth. China has recently introduced rules and regulations to protect consumers after concerns that the model could be misused by some unethical operators.  Having snowballed, growth has now decreased as greater regulatory oversight has driven many platforms out of business. With protections for both lenders and borrowers a key element of ongoing market health, responsible FinTech firms should keep abreast with relevant regulatory developments and ensure compliance. 

For Capital C Corporation, taking a proactive approach is key when it comes to feeding new ways of lending. We see the success of FinTechs’ alternative offerings as something with very long-term potential so avoiding the issues experienced in markets like China is the only way to build confidence and trust.  As a result, confidence and trust make for a strong foundation for long-lasting lending businesses. They build a trustworthy base of returning clients who, satisfied with the service they have received, will come back again and again.

A responsible approach to building alternative lending businesses will eventually lead to a sustainable and flexible alternative credit space occupied by companies providing suitable and sustainable sources of finance. A growing SME sector is important for any country’s economy and we feel strongly that with suitable lending options in place SMEs that were in the past underserved by traditional credit institutions can continue to in the long term as Fintech is the only way forward.

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