How Do I Start A Moneylending Business Moneylenders Loan Academy MLA Singapore Moneylending Business

How Do I Start A Moneylending Business?

Money is a powerful tool that controls daily life. While some people may be financially secure, others might find it challenging to fulfil their financial obligations. Individuals who do not have bank accounts often choose to borrow funds from other financial institutions that provide favourable terms. Borrowers may consist of people who have pay cheques […]

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Do I Need A License To Lend Money Moneylenders Loan Academy Singapore MLA

Do I Need A License To Lend Money?

Moneylenders lend both small and large amounts of cash, usually at higher rates of interest. Higher interest rates may be charged because the moneylender is exposed to a higher risk of defaulting than traditional banks because of various reasons. When people need money urgently but may not have access to bank accounts, have bad credit, […]

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Registrar’s Conditions For The Grant Of Moneylender’s License

In addition to the requirements under the Moneylenders Act (Cap. 188) (and any revised edition of the Act) (“the Act”) and the Moneylenders Rules 2009 (“the Rules”) for obtaining and holding a moneylender’s license, the following conditions for the grant of your license are imposed under Section 5(4) and/or Section 5(7) of the Act: General […]

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