SINGAPORE – Media
OutReach – 23 February 2021 – Loanhere announced today the launch of its website, a one-stop
destination platform to apply for a personal loan in Singapore and receive
multiple quotations and offers from licensed money lenders instantly.
Widely recognised as one of the most expensive
cities in the world to live in, having the financial liquidity to cope with
Singapore’s high cost of living is not an easy thing. Coupled with an ongoing
global pandemic, a significant number of locals are finding it difficult to
cope and necessary to take out loans to cover living expenses and other payment
obligations.
According to a recent report by Finder.com,
almost 1 in 3 Singaporeans have taken out a personal
loan in the last 12 months, largely to cover basic expenses,
consolidate their debts or pay off credit card liabilities.
Aggregating loan quotes from
licensed money lenders
Although there are platforms in the market
that provide aggregated information on personal loan and sme business
loan, almost all of them are focused only on bank financing. There
isn’t a similar platform that exists in the market for borrowing from a licensed
money lender perspective.
Loanhere is launched in response to this and
seeks to be the one-stop destination platform for all information related to
borrowing from licensed moneylenders in Singapore.
More importantly, Loanhere provides potential
borrowers with instantaneous loan quotes aggregated from a curated selection of
established and experienced licensed money lenders throughout Singapore.
Loanhere saves borrowers time and hassle by prequalifying
all the partner lenders in its network, to be operating with a valid
moneylender license issued by Monetary Authority of Singapore (MAS), are of
good standing with relevant authorities and have excellent customer reviews.
Simply by providing basic personal information
such as name, contact details, and the sum of money desired to borrow, Loanhere
matches the loan request via its proprietary process with suitable offers from
its network of licensed lenders and sends the corresponding loan quotes and
offers to the requestor’s email inbox instantly. The service is automated and
entirely free to use by all Singapore citizens and permanent residents (PRs).
While banks have been the traditional lenders
of personal loans, more and more Singaporeans and permanent residents have been
increasingly turning to licensed money lenders as the alternative – or even the
preferred – channel to take out a loan from.
With evaluation criteria generally more
favourable to borrowers, shorter application processing and cash disbursement
time, as well as the possibility of negotiating customised loan repayment
plans, more and more locals are finding the licensed moneylender route an
attractive option for personal financing.
Clearing the air on licensed
money lending
Nevertheless, there remains a certain degree
of misconception and an absence of clarity in the market when it comes to
licensed moneylenders, such as how do they work, how to differentiate the good
ones from the bad, what is considered legitimate and what is not, among other
doubts and concerns.
Beyond providing borrowers loan quotes fast,
Loanhere also strives to raise the public’s general awareness and understanding
of borrowing from licensed moneylenders, through regular publishing of articles
on the website that covers various aspects of the subject, including the clear
distinction between licensed money lending and other unsavoury forms of
lending.
“Taking up loans from licensed money lenders
in Singapore is a viable and oftentimes more appealing option than borrowing
from banks. We believe more Singaporeans can better alleviate their financial
situations with a clear understanding and proper use of licensed moneylenders
as a practical and legitimate source of funds, and are committed in our mission
to deliver the most efficient loan quote aggregation service in the market”,
explained a spokesperson from Loanhere.
Visit the Loanhere website and receive instant
loan quotes with a simple submission at https://loanhere.co/.
About Loanhere
Loanhere provides useful and relevant
information about loans and alternate financing options via licensed
moneylenders to help Singaporeans and permanent residents (PRs) alleviate their
financial challenges.
Loanhere is committed and dedicated to be the number
1 destination site in Singapore for loans and financing through licensed
moneylenders.
To find out more about Loanhere, please visit https://loanhere.co/.
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