Is Licensed Money Lender Singapore The Same As “Loansharks”?

Is Licensed Money Lender Singapore the same as “loan sharks”? Loan shark is a term for someone who takes advantage of lending money to others by requesting a refund of a loan of several percents depending on the amount of money loan over a period of time, if unable to return the loan on time, it will be fine with the percentage already Determined, so the bigger the return of money up to 2 times the loan money even more. So are these two things the same? Of course not! Here are some of the differences:

– Licensed money lender Singapore have official permits, not like a loan shark who play ‘hide-and-tug’

Most of the licensed money lender Singapore that are scattered on the internet already have official permission. When in doubt, you can check through the Financial Services Authority website. From there, you’ll know which licensed moneylender is fake and where is the trusted money lender. Of course, loan sharks do not have official permission. Is not everything illegal and unauthorised is suspicious?

– Licensed Money Lender Singapore are managed professionally while loan sharks still use the traditional way
In Licensed Money Lender Singapore, of course, the people who work there are also from professional circles. Especially with the help of technology they have, customer service will become easier. You will get excellent service while saving time and effort. In contrast to borrowing money to loan sharks, which are only managed by people who are far from professional words. Plus, they do not have a clear organisational structure. Most are only managed by individuals. Of course, that potentially wrong and cheating, right?

– Licensed Money Lender Singapore focus on helping customers meanwhile loan sharks even add trouble

Licensed Money Lender Singapore was established to help people in need of financial solutions. In contrast to moneylenders who actually plunge people into a vicious circle. Therefore, do not be surprised if they are called as loan sharks. You know, loan sharks also like to suck people’s money.