When applying for a loan in Singapore, one common concern that people have is "Will I fall into the hands of unlicensed moneylenders?" This is why you should only deal with legit entities when borrowing money, and Lendela is one of the brands that you can trust because it is legal. Actually, Lendela is in the path of helping borrowers find and compare legal lenders (such as banks and licensed moneylenders) and avoid loan sharks.
Lendela: A Legal Personal Loan Matchmaker
In Singapore, the Ministry of Law is in charge of ensuring a sound legal and intellectual property infrastructure is in place. Lendela is allowed to assist borrowers by simplifying the process of the loan application. Indeed, Lendela becomes an important cog in Singapore's financial system because of the following actions:
- Lendela works only with banks and licensed lenders: This implies that instead of trying to apply for a loan on your own and risk falling into the trap of unlicensed lenders, Lendela will help you pinpoint the legit ones.
- Lendela makes identifying good lenders easy and fast: There are so many banks and licensed lenders in Singapore, but identifying the right one for you can be really challenging since they all offer different terms. However, by applying through Lendela, you get to compare multiple banks and legit lenders to find the one that suits you the best.
- A sure way to avoid penalties by the Singapore administration: Did you know that it is an offence to borrow money or work with loan sharks? You can even be punished by the Singapore authorities, but there is a simple way of avoiding this – applying with Lendela.
What Benefits Come with Using Lendela Services?
Now that you know Lendela is an allowed to provide its service in Singapore, it might be a good idea to check closer and identify the main advantages that come with using their services. We have already indicated that it helps you avoid falling prey to Loan Sharks, but there are more benefits you should anticipate, including the following:
- Lendela makes the application for loans hassle free
- The chance of getting your loan application approved increases significantly since multiple lenders are assessing your application at the same time
- Lendela is doing the work for you – let us find you the best offers so that you can concentrate on other things as opposed to worrying about the application and loan approval
- Lendela’s exceptional Customer Service Team is just a chat message or phone call away, and will help you through your loan application journey if you have any questions
How to Apply for a Loan with Lendela
To apply for a loan via Lendela is pretty easy because that is what our primary mission is – simplifying the loan application process. Indeed, the entire process takes a short moment, and Lendela is working towards making it even more intuitive:
- You visit the Lendela website to fill out the short application
- Lendela uses a loan matching algorithm to match your application with different lenders, and forwards it to those who are ready to serve persons with qualifications such as yours
- Offers are issued by multiple lenders, and Lendela shows them to you
- Select the preferred offer, upload necessary documents and book your appointment with the selected lender for final approval and disbursement
- Sign the loan agreement and the funds are released into your account
As you can see, Lendela is a legit firm operating in Singapore and working to ensure that you avoid falling into the hands of loan sharks and other illegal actors. Working with Lendela also comes with impressive benefits and makes applying for loans easy, fast, and convenient.