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Taking a loan from a licensed money lender can be an intimidating process. Apart from getting the best interest rates and finding a lender you can trust, there is a lot of other information and fine print to be aware of so you know exactly what you are getting into.

If you are reading this article, you must be a small business owner in Singapore who is looking for funding to expand your business or start a new one. This means you must have done a feasibility study that your business can be profitable and earn a good return on investments (ROI).

Most of the time, the banks will not lend money to small businesses because they do not seem to be profitable enough. This is where the non-bank lenders come in. They are willing to take risks and invest in businesses that sound risky like yours.

Starting a business is not easy. You will need a lot of money to cover startup costs in Singapore, and it takes time to find funding or working capital loan for your business. It is estimated that the average start-up requires $600,000.

If you don’t have enough money to start your own business, there are ways to borrow money from friends and family or even take up a business loan from financial institutions such as Synergy Credit. Other ways include crowdfunding and even leveraging on your credit card!

Few can understand the woes of a business owner when his business meets with turbulence. When it comes to the topic of money, those willing to lend it are few and often, it might not be enough to tide through the trough. Sometimes this comes despite having planned ahead of time or having estimated the costs needed to maintain a business.

Sometimes, there may be a few occasions when we find ourselves in need of cash, be it due to unforeseen circumstances like healthcare expenses, funeral expenses, or while planning for large milestones in life such as weddings, buying a car or house – that’s when we might need to get a Singapore cash loan.

Many people who take a loan from licensed moneylenders have a very vague idea about the money lending industry. In this post, we will explain the requirements and rules for obtaining a money lending license in Singapore and how you can check if your lender is licensed.