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You wouldn’t pick a loan blindfolded—so don’t.
Our blog helps you decode your options with real tips and insights.
Why does the loan application process take so long?
11 Aug, 2024 BY Daniel Tan
Seen ads promising fast loan approval, and yet your experience is otherwise? Some lenders (especially the smaller ones) and especially brokers may care less about "misleading ads" (Singapore's advertising guidelines generally do not consider exaggeration as misleading, especially for non-healthcare products. Or if 1 hour applies only to a small su
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How Personal Loans Impact Your Ability to Secure Business Loans And Vice Versa.
26 Jul, 2024 BY Daniel Tan
As a business owner, managing personal finances alongside business obligations is crucial, especially when it comes to securing additional loans. Understanding how personal loans affect your ability to obtain business financing, and vice versa, involves navigating through financial metrics like the Debt Servicing Ratio (DSR) and various lender poli
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If a loan broker claims to be able to negotiate for you, walk away.
28 Jun, 2024 BY Daniel Tan
Program lending, also known as policy-based lending, formula-based lending, or checklist lending, involves providing loans based on criteria or guidelines set by the lender to help their credit officers make quick decisions and process large amounts of enquiries. Often brokers claim to be able to negotiate the interest rate for you to try to
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Grateful a loan broker was able to surprisingly help you get a loan when no one else was? You could be unknowingly participating in fraud.
30 May, 2024 BY Daniel Tan
Loan brokers originate, depending on the lender type, any where from 40% to even as high as 95% of a lender's sales in Singapore. In the US, they originate 65% of all home loans according to some surveys and is an industry that employs more than 400,000 people.Since a huge bulk of their sales come from them, apart from the lenders' salesforce and w
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One Percent loan? Zero application fee? 50% storewide discount? Stop falling for clickbaits!
25 Apr, 2024 BY Lee Shuen Min
Recall the last time when you were drawn to a store with a sign "50% off" and you walked out shortly distastefully realising you were being clickbait? While there is the CPFTA & lemon law in Singapore, there are many loopholes, "dishonest" merchants are using to get around. Some retail stores get around this by offering huge discount
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The inside out of invoice financing, PO, Contract and Project financing
05 Mar, 2024 BY Daniel Tan
The 4 loan types are covered together as they have similar features. You can jump to the specific part of the article by looking at the bolded keywords.1)You offered a client say 120 days credit terms, but as you need the cash flow now, you can take the invoice to a factor where they advance e.g. 90% (advance/finance percentage) for your cashflow n
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How to improve on your credit score?
30 Nov, 2023 BY Daniel Tan
Tabulated by credit bureaus, a credit score or a credit report is a reflection of your financial behaviour and past payment history typically on your loan accounts, credit cards, and regular bills such as with telcos and utility companies, depending on the bureau and the relationship they have with the reporting companies. Depending on the loan ty
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Why Reverse Factoring is the worst innovation for any business owner that offers credit terms to its customers
19 Nov, 2023 BY Daniel Tan
Reverse factoring is a type of supplier finance solution that companies/buyers can use to offer early payments to their suppliers based on approved invoices. Suppliers participating in a reverse factoring program can request early payment on invoices from the buyer or other financial institution, with interest or discount and with the buyer or supp
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Rising interest rate. Should you save or pay down your debt?
07 Nov, 2023 BY Daniel Tan
With some banks in Singapore (Click here if you are keen to find out the difference between a neo bank & digital bank) increasing their flagship savings accounts for certain bonus tiers up to 7.8% a year, the saver in us may be tempted to start saving more for a rainy day. Having a good saving habit helps in life events like creating an emerge
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How many lenders are there in Singapore?
25 Sep, 2023 BY Daniel Tan
Do you know how many lenders are there in Singapore? If you don't, don't worry. Many RMs that we spoke to don't know too! In fact, we recently did a poll and only 20% of bankers & RMs got it correct. That is because unlike banks and licensed moneylenders which fall under the Banking Act and Moneylender Act - which more people in finance are fa
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