Bugis street market is one of the largest, cheapest, and probably the hottest places to shop in Singapore. It is a lively hub of shopping with fine dining and trendy café and clubs that run all night. It is an epicenter of everything, very popular with both locals and tourists. It is well known in the whole of Singapore as the place where one can source cheap and quality souvenirs, accessories, clothing, electronics, houseware, cosmetics, decorations, games, toys, and so on.

Given the above opportunities in Bugis Street market, one might get short of finances while shopping or going about normal day to day business along the streets of Bugis. But there is nothing to worry about because in the same street, there is a bunch of Singapore licensed money lenders ready to offer financial support to those who need it.

Who are Singapore Licensed Money Lenders?

They are lending institutions, registered and licensed under the ministry of law. Just like banks, they offer both short term and long term loans. They are governed by law in the money lenders act and are regulated by the central bank.

Why Licensed Money Lenders?

Most people rush to the bank once faced with a financial challenge but the truth of the matter is; bank loans are expensive, have long application and approval process, strict requirements, and such like hindrances. On the other hand, there are unlicensed money lenders also referred to as money sharks, but, one should be extra careful when dealing with them because they are always out to exploit or con. Below are the reasons why Singapore licensed money lenders are the best option:

Quick Turnaround Time

Unlike banks where loan application and approval takes ages, Singapore licensed moneylenders offer quick turnaround time. It takes roughly 48 hours for one to have the loan approved and disbursed.  It is a better option in times of emergencies.

Flexible Terms

Singapore Licensed money lenders offer customized loan facilities. They package their loans according to the borrower’s needs, budget, and ability to pay. Loans are spread into manageable installments that do not interfere with the borrower’s liquidity position.

Simple Loan Application Process

Unlike banks where there is a lengthy loan application process, money lenders present a very simple and straight forward application process. One simply makes an application online and then submits the relevant documents and that’s all.


All Singapore Licensed money lenders are legitimately registered and licensed.  One doesn’t have to worry about safety and security because they operate under regulations of the Ministry of Law and do comply with the Moneylenders Act. So, all their businesses and engagements are lawful and trustworthy.

Parting Shot

There are hundreds if not thousands of licensed money lenders in Singapore. So, there is need to shop around because different moneylenders offer varying interest rates and loan terms. One should choose the lender with the lowest interest rate and favorable loan terms

For those interested in taking a loan with a Singapore Licensed money lender click here to see what is on offer



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