We are Singapore's first loan marketplace, designed to allow borrowers to connect directly with lenders without a human intermediary — avoiding the issues that intermediaries can sometimes cause.
To achieve this, beyond our technology, we onboard lenders at the company level. Many Relationship Managers (RMs) from various lenders reach out to us individually, but because they are not authorized by their companies to enter into partnerships, it would be difficult for us to enforce how your confidential information is handled.
This is unlike traditional brokers, who often pass your enquiry to RMs they know personally — even though banks can have hundreds of RMs who come and go, and the lender itself may never have formally recognized the broker. To understand how this might impact you, see our FAQ on how a loan marketplace differs from comparison websites and brokers.
Some lenders may also need to review their internal workflows to fit with a new partner in a compliant way. (For example, see point 5 in our FAQ on what if I still prefer to use a loan broker.)
Since FindTheLoan.com is still young, some lenders may not wish to invest time and cost yet to work with a new platform — but we believe this will change as more borrowers use our platform or start giving feedback to lenders requesting they work with us, so borrowers don't have to apply separately.
Additionally, some lenders are unable to work with us because their internal machine scoring systems are incompatible with external platforms like ours. (Learn more about machine scoring.) However, they can still use our web version if they wish — or adapt over time with customer feedback.
Meanwhile, should there be any particular lenders you need to approach separately, FindTheLoan.com should still be able to cut down your application time with those that you do not have to apply to individually. We will continue to work hard to expand the range of partners.
Some lenders also chose not to work with us simply because they prefer not to be easily compared. We find this illogical, because even without a centralised platform, borrowers can still approach multiple lenders individually to compare offers — why make it harder for customers?
Lastly, lending is one of the few industries where institutions don't necessarily want more customers. Some lenders cater mainly to private banking or enterprise-level clients from their headquarters. Yet we have seen several brokers’ websites falsely claim to be their partners, even though these lenders may not be actively seeking new business or might not be legally allowed to.
Unlike brokers, FindTheLoan.com is free to use — we don’t need to attract you with as many logos as possible. Our goal is simple: to clearly show you exactly which lenders you can enquire with, so you can compare real offers and Find The Loan you need.
Get started with your loan search here — it’s fast, easy, and free.
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