How long it really takes to get a loan?

It may not seem like the article you were searching for, but it’s the one that matters. A single minute spent on this article could save you thousands of dollars. And yes, even ex-lenders have spoken up about it.



No one controls how fast a lender responds. If a thousand brokers are all promising speed, who do you think gets prioritized? Certainly not everyone. So forget promises like “70% of our customers get a loan within an hour.“ Find out how the process really works here.

See here and here, where brokers and finance companies have been sued for millions in the US for various lies, and now they are reaching our shores. And yes, even lenders themselves engage in false claims, especially the smaller ones. We have even seen some advertised loan types that don’t actually exist.

We thought it might be necessary to fight fire with fire 🔥and thus this article to try to educate the public on how things really work. 

A lender works with hundreds to even thousands of loan brokers. If one is so powerful, why is he or she a loan broker? Regulations such as the Truth in Lending Act (TILA) in the US and the Consumer Credit Act in the UK have been around since the 1970s, yet Singapore still has no laws overseeing brokers, not even a mandate to set up a company or be an authorised brokerage representative. So how does a lender know who to take seriously?

In fact, because loan brokers are the highest single source of loan fraud, lenders often spend extra time scrutinizing any enquiry that comes through a broker. You can read more about it here.While MAS has recently issued the “Guidelines on Standards of Conduct for Digital Advertising Activities,” loan intermediaries appear to fall outside its scope. As some lenders and brokers resort to misleading ads, others imitate just to remain competitive—creating a downward spiral in transparency. We aim to change that by advocating for regulation. Support our efforts here.

No one controls how fast a lender responds. We can only promise that when using FindTheLoan.com, you can easily reach multiple lenders at once through a single application, increasing the likelihood of someone getting back to you quickly.
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