Besides banks, there is actually a whole host of other legal entities that can provide business & personal financing, such as finance companies, licensed moneylenders, excluded moneylenders, exempted moneylenders, and crowdfunding platforms to fintech companies. Many borrowers are not aware of who are the lenders out there or exactly which lender lends to them and often waste time applying to the wrong lender which is why a platform like ours comes in handy.
For example, banks can accept deposits from consumers while fintech companies generally raise their funds from private or institutional investors which they use to lend out to you. FindTheLoan.com works with various types of lenders and credit providers to ensure our customers not only have access to a wide range of financing and credit products at a competitive rate but also to ensure different types of borrower profiles are well served, as each type of lender tends to focus on a different risk profile. We are not keen to just add another logo for the sake of doing so and you end up receiving multiple identical offers. However, if you are a financier who feels you can add value to our customers differently from what our current partners do, please reach out to us!
Very often a borrower will think of a bank first when they want to borrow money. That is because of the strong branding the banks enjoy. However, there are actually a lot more excluded moneylenders in Singapore than there are banks that do lending to the mass market. Forgetting about them may mean diminishing your ability to get more loans or to compare.
Excluded moneylenders require no extra license to operate their business while Exempted moneylenders typically are Excluded moneylenders who have been allowed to lend to certain categories of people without having to apply for a banking or moneylending license. For more details consider checking out this blog of ours : How many lenders are there in Singapore? To get started, sign up/apply here.
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