An Asian loan officer from a licensed money lender engaged in some financial analysis

Licensed Money Lender: 4 Situations In Which You Will Need One

3 min

Money, money, money. It’s a huge part of what makes adulting so hard. Finding a well-paying job, managing your finances and remaining debt-free are things that most adults struggle with. When major life events such as marriage and starting a family happens, or when emergencies occur, most people find themselves cash strapped. Times like these, besides turning to banks and financial institutions, a licensed money lender in Singapore can be your next best bet. Here are 5 common situations where you will need to find a money lender.

Getting out of credit card debt

Getting out of a high interest credit card debt is a common first-world problem, but how does a money lender solve this issue for you? Well, depending on the amount of debt you owe, most licensed money lenders in Singapore would be able to offer you personal loans at lower interest rates to help pay off your existing loans. A licensed money lender in Singapore’s interest rate for a personal loan of $5,000 over 3 years is around 8% per annum, which is much lower compared to credit cards. Never underestimate a good licensed money lender interest rate as it can help you save so much more over time. Be disciplined and use a personal loan to clear your credit card bills to stave off higher interest rates.

Securing a lucrative opportunity

Time is of the essence when a lucrative opportunity comes your way. For instance, if you come across an attractive investment opportunity that requires you to make a lump sum payment to lock in your profits, you will need cash fast. If you don’t have enough cash on hand, a licensed money lender can offer you instant cash loans to help you secure this golden opportunity. Successful investors understand the power of compounding interest and know that even a small sum, used in the right time and circumstances, can make a big difference in investments.

In such situations, having a list of licensed money lenders in Singapore at your fingertips can help you make more informed decisions in the nick of time.

Dealing with emergencies

Emergencies strike when we least expect it. For example, a medical emergency could occur and you might not have enough savings on hand to tackle it. If you’re having cash flow issues, you might not be able to pay your insurance bills on time as well. In such situations, to pay for an emergency medical expense or to prevent your insurance from lapsing, a licensed money lender can offer you a personal loan to help you get through a financially strenuous period.

Other personal reasons

Some people may need a licensed money lender for loans to fund their business or for further studies and skills upgrade. Regardless of your situation, a personal loan can meet your financial needs.

Before taking out a loan, read up on reliable money lenders in Singapore reviews or find out from your friends and relatives if they have a licensed money lender to recommend. You can find a list of licensed money lenders on the Ministry of Law’s website. A licensed moneylender in Singapore’s reviews should be consistent and trusted as they have to work with a strict set of guidelines.

Cash Direct Pte Ltd is a licensed money lender in Singapore that aims to help you through any financial difficulty. We provide fast and reliable financial assistance to individuals and businesses and offer an industry-standard licensed money lender interest rate capped at 4% per month. If you are in need of an urgent loan, speak to our financial consultants or apply for a loan here with us now.


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