Lendela is not a lender, and we do not provide loans. Instead, we operate as an independent and transparent loan matchmaking service and are not owned by any credit provider. We give our customers access to as many loan offers possible and only connect you to our lending partners after you have chosen a loan offer.
Lendela only partners with loan providers licensed and regulated by the MAS. This includes the largest banks in Singapore, such as Standard Chartered, CIMB, and DBS, as well as the biggest non-bank loan providers. By having a panel of over 50 licensed providers, Lendela ensures that you will always find your ideal loan option, safely and in a fraction of the time.
No. Submitting an application with Lendela will not impact your credit score. However, by the end of your application, the lender that you select will typically perform a credit check to assess your creditworthiness before disbursing the loan.
The duration of the application process varies. Non-bank lenders can disburse unsecured loans in as little as 1 day, and secured loans within 1 week, while the banks' business loans are typically disbursed within 1 to 4 weeks, due to more extensive assessments.