The Kickass Entrepreneur
  • About
  • Blog
    • All Blogs
    • Create Wealth (Investing)
    • Entrepreneur Interviews
    • Featured Top Posts
    • Growing Profits
    • Growing Revenues
    • Marketing
    • Positive State of Mind
    • Real Estate Investing
    • Retirement
    • Sales
    • Selling your Business
  • Book
  • Courses
  • Podcast
  • Resources
  • Contact
The Kickass Entrepreneur
Subscribe
The Kickass Entrepreneur
  • About
  • Blog
    • All Blogs
    • Create Wealth (Investing)
    • Entrepreneur Interviews
    • Featured Top Posts
    • Growing Profits
    • Growing Revenues
    • Marketing
    • Positive State of Mind
    • Real Estate Investing
    • Retirement
    • Sales
    • Selling your Business
  • Book
  • Courses
  • Podcast
  • Resources
  • Contact
  • All Blogs

Taking Loans: How to Identify the Best Credit Moneylender

  • July 22, 2021
  • 2.8K views
  • 4 minute read
  • Ashley Jenkins
money counting
Share
Tweet
Share

Loans are never a pleasant or easy-to-discuss topic. However, the need for loans is faced by almost everyone at some point or the other and it is best to find out which licensed money lender is your best bet for taking loans.

Taking Loans: How to Identify the Best Credit Moneylender

Let’s go ahead and take a look at various factors that will help you find out which is the best credit moneylender in Singapore.

Knowing various details such as the licensed money lender interest rate and other terms helps us plan our debts better.

The first thing to know is the various types of debt provided by licensed money lenders in Singapore, and the interest rate on each loan.

You must also note that interest rates are likely to change over time.

If you default on a specific type of loan, you will not only be made to pay the penalty charges but, the interest rate on the remaining loan might be applied as per the prevailing market rates which could be higher than the interest offered earlier.

Furthermore, a lot of debt and loans are charged at compound interest rates and that means that the debt keeps growing with time and we need to pay more.

A licensed money lender would offer you clear and dependable information on how you can avoid such unwanted costs of borrowings.

Why Credit Should Always Be Paid On Time

Credit is a crucial element for achieving financial success and mismanagement of credit can also make one face bad times.

The best credit moneylender helps you by not only offering credit cards and loans but also by providing valuable advice that is necessary for financial stability.

If you don’t know the details about loans and lack knowledge about using credit properly, it can lead to financial hardship.

For instance, whenever you use credit cards, do ensure that the payments are made on time to avoid paying the interest as well as late payment fees.

In addition, credit card payments have a direct impact on our credit rating.

Money Lender Singapore Review: Credit Bureau Report and How It Affects Loan Applications

We all have our individual credit bureau scores which give money lenders an insight into our credibility and ability to repay a loan.

The credit bureau score helps the financial institutions undertake a risk assessment of the borrower and enables them to calculate the loan default risks.

Thus, if we wish to obtain loans from a licensed money lender and not a loan shark then it is imperative to maintain a good credit score by sticking to the payment due dates and avoiding loan payment defaults.

It is not that one should be wary of loans and avoid taking loans. However, what is essential is that the loans and credit cards are managed properly.

The best credit moneylender would help you with the right strategic advice and assistance in the calculation of the payables.

This helps in being ready to manage the additional responsibilities of loan repayments.

Money Lender Singapore Review: Using Loans to Generate Greater Income

As businesses, it is usual to take loans during the early stages to expand the business and try to generate more revenue and profits.

This is where taking loans from a licensed money lender is a preferred option.

As a part of the economic world, it is the right strategy since loans can catapult an individual as well as a business towards financial success.

However, to achieve success we need the right financial knowledge.

Contrary to what one might think, loans and credit can help earn extra, and that’s where one has to understand the technicalities. The annual inflation rate of the Singapore economy is around 2% per annum.

Therefore, if we keep our funds with a bank that provides no more than 1-2% of annual interest, we won’t even overcome the inflation.

For instance, if you had deposited $100,000 in a bank in the year 2011, today, the amount would be worth anywhere between $120,000 to $130,000 even if the bank offered a reasonable interest rate.

However, if the money was invested in real estate to pay a 20% down payment for a property worth $500,000 and the rest of the amount was to be covered by a loan costing $3,000 a month, the property would today be worth around $1 million if we consider the increase in house prices in the last 10 years or so.

Conclusion

Therefore, the smart management of bank loans and debts can also serve the purpose of financial growth.

The most important thing is to have the right information from the best credit moneylender. Seeking professional financial advice and tips on loan management is an area where not just the banks but also the licensed moneylenders can help us with.

All things said one should always be responsible while borrowing money and should take only those loans that are necessary.

By borrowing from the best moneylender and having complete knowledge of licensed money lender interest rates, you can utilize the power of loans to build wealth and success for yourself.

_________________________________________________________________________ 

Some other articles you might find of interest:

Understand how you can maximize your time to grow your business:

 Time Is Money And Your Most Valuable Resource. Use it Wisely to Build Your Business

https://www.thekickassentrepreneur.com/time-is-money/

 Looking for effective ways to drive and increase traffic to your startup website?

 SEO Traffic Guide To Boost Your Blog Rankings

https://www.thekickassentrepreneur.com/guide-to-boost-your-blog-rankings/

 Looking for effective ways to drive and increase traffic to your startup website?

 3 Top Reasons Why Startups Fail and How Not to Become a Victim

https://www.thekickassentrepreneur.com/3-top-reasons-why-startups-fail-and-how-not-to-become-a-victim/

Thank you for your interest in THE KICKASS ENTREPRENEUR'S GUIDE TO INVESTING. Three Simple Steps to Build Massive Wealth with your Business's Profits. Please check your email to confirm the book download. Form: 400529

There was an error submitting your subscription. Please try again.

Related Posts:

  • How To Pay For College With No Credit Loans
  • Emergency Loans Online For Bad Credit: Other Forms Of Financial Help From…
  • Is There a Place Near Me That I Can Get Small Payday Loans Online with No…
  • How to Build Good Credit - Choose a Credit Card to Improve Credit Score?
  • Questions to Ask Before Taking Out a Loan
  • Should You Buy a Property to Let if That Means Taking on a Mortgage?
Share
Tweet
Share
Ashley Jenkins

Ashley is, first and foremost, a mom to an amazing young son and a wife. Ashley has started and sold a couple of small companies over the last many years, and now has decided to take some time off to spend time with her family, and raising her son. Ashley managed a team of 11 staff and intends to start another business shortly. Ashley is an avid saver and investor and is knowledgable about not only entrepreneurship but, also investing.

Previous Article
a bottle of perfume
  • All Blogs

How to Choose a Good Brand Name

  • July 22, 2021
  • Ashley Jenkins
View Post
Next Article
coins on top of the office table
  • All Blogs

7 Things Small Business Owners Should Invest In

  • July 22, 2021
  • Ashley Jenkins
View Post
You May Also Like
Net worth percentile calculator canada
View Post
  • All Blogs
  • Create Wealth (Investing)
  • Financial and Investment Calculators and Economic Data

Net Worth Percentile Calculator for Canada Including 23 Wealth and Income Statistics for 2023

  • September 28, 2023
  • Jeff Wiener
crashed car
View Post
  • All Blogs

A Comprehensive Guide For HR Professionals Navigating Car Accidents In Company Vehicles

  • September 28, 2023
  • Frances
man touching a woman's shoulder
View Post
  • All Blogs

Addressing Emotional Distress from Sexual Harassment in San Diego: A Legal Perspective

  • September 20, 2023
  • Meg Rivera
writing
View Post
  • All Blogs

8 Essential Steps for Impeccable Essay Proofreading and Editing

  • September 20, 2023
  • Meg Rivera
Net Worth Percentile calculator USA
View Post
  • All Blogs
  • Create Wealth (Investing)
  • Financial and Investment Calculators and Economic Data

Net Worth Percentile Calculator for The USA Including 23 Wealth and Income Statistics – 2023 Data

  • September 19, 2023
  • Jeff Wiener
Net worth by age percentile calculator for Canada
View Post
  • All Blogs
  • Financial and Investment Calculators and Economic Data

Net Worth By Age Percentile Calculator for Canada with 2023 Data

  • September 9, 2023
  • Jeff Wiener
Income Percentile Calculator by Province for Canada
View Post
  • All Blogs
  • Financial and Investment Calculators and Economic Data

Income Percentile Calculator by Province for Canada Including 28 Income Statistics – 2023 Data

  • September 8, 2023
  • Jeff Wiener
waste disposal
View Post
  • All Blogs

Dumpster Diving: A Guide to Efficient Waste Disposal

  • September 6, 2023
  • Meg Rivera

Join 6,472 Entrepreneurs That Get My Business Building and Wealth Creation Posts by Email

I can teach you how to build a successful, profitable business, and turn that into millions in personal wealth.

Thank you for your interest in THE KICKASS ENTREPRENEUR'S GUIDE TO INVESTING. Three Simple Steps to Build Massive Wealth with your Business's Profits. Please check your email to confirm the book download. Form: 400529

There was an error submitting your subscription. Please try again.

We won’t send you spam. Unsubscribe at any time.

Recent Posts
  • 3 Things Entrepreneurs Can Learn from the Online Gaming Industry
    • October 2, 2023
  • content marketing AI 2
    Staying Alive in Content Marketing: How AI Paraphrasing Can Help?
    • October 2, 2023
  • graph pointing 3
    10 Proven Strategies for Scaling Your E-commerce Business
    • October 2, 2023
  • Income Percentile Calculator by Province for Canada 4
    The Cost-Effective Approach: DIY vs Hiring Movers in Canada
    • September 29, 2023
  • shakehands 5
    Want to Start a New Business? Here Are 6 Growing Industries That You May Not Have Considered
    • September 29, 2023
Featured Posts
  • Become a Decamillionaire
    How to Become a Decamillionaire, Grow your Net Worth to $10 Million, and Join the 1% Club
  • how to become wealthy
    The Entrepreneur’s Secret to How to Become Wealthy and Build a Personal Fortune
  • Most Profitable Small Businesses
    27 of the Most Profitable Small Businesses to Open in 2023
Categories
  • All Blogs (1,078)
  • Business (420)
  • Canadian Financial Products (4)
  • Create Wealth (Investing) (134)
  • Entrepreneur Interviews (27)
  • Featured Post for Main Menu (4)
  • Featured Top Posts (23)
  • Finance (115)
  • Financial and Investment Calculators and Economic Data (120)
  • Fitness (10)
  • Growing Profits (72)
  • Growing Revenues (115)
  • Growing Revenues (71)
  • Marketing (162)
  • Millionaire and Business owner interviews (3)
  • Positive State of Mind (69)
  • Real Estate Investing (17)
  • Retirement (13)
  • Reviews (13)
  • Sales (16)
  • Sell Me This Pen (8)
  • Selling your Business (13)
  • Starting a Business (1)
  • Startup Ideas (18)
  • Technology (199)
  • Top Products (4)
  • Uncategorized (62)
Follow us
Author
Jeff Wiener
Jeff sold his company to private equity in 2017 and is now semi-retired. Jeff spends time…

    CHECK OUT MY BLOG, AND SUBSCRIBE

    about
    The Kickass Entrepreneur

    Expand Your Business, Improve Profits, Create Wealth

    Expand your business, improve your profits, and create wealth. Each one of the three can be elusive goals. Follow the right steps, and you, too, can create financial independence. It is possible … you just have to take the right steps.
    NAVIGATION
    • About
    • Blog
      • All Blogs
      • Create Wealth (Investing)
      • Entrepreneur Interviews
      • Featured Top Posts
      • Growing Profits
      • Growing Revenues
      • Marketing
      • Positive State of Mind
      • Real Estate Investing
      • Retirement
      • Sales
      • Selling your Business
    • Book
    • Courses
    • Podcast
    • Resources
    • Contact
    TAGS
    apartment BATNA Business business failure business growth business sale Capitalization Rate CAP Rate cash cash flow Creating Wealth Discipline entrepreneur entrepreneurship excel extra cash Featured goal setting Growing Business investing investment real estate M&A marketing Marketing KPIs Mergers and Acquisitions | M&A | Entrepreneur Blog Millionaire millionaire next door mistakes MUR Peter Principle Profit profitability real estate retirement revenue Revenues sales sales management Semi-Retirement Blog | Entrepreneur Blog | Small Business Blog small business Stagnant stocks success Thomas Stanley wealth
    RECENT ARTICLES
    • Net worth percentile calculator canada
      Net Worth Percentile Calculator for Canada Including 23 Wealth and Income Statistics for 2023
      • September 28, 2023
      • One comment
    • Net Worth Percentile calculator USA
      Net Worth Percentile Calculator for The USA Including 23 Wealth and Income Statistics – 2023 Data
      • September 19, 2023
      • One comment
    • horse jockey
      Top 5 Most Successful Horse Racing Jockeys Ever
      • September 8, 2023
    • man and papers
      Active vs. Passive Investing: Which Is Right for You?
      • August 8, 2023
    • seoul
      How Seoul Internships Shape Your Professional Journey
      • July 24, 2023
    • casino
      Empower Yourself With These 5 Lifelong Skills For Success In Casino Business
      • June 23, 2023
    The Kickass Entrepreneur
    • Coaching
    • Book
    • Blog
    • Contact
    • Privacy Policy
    • Terms
    • Disclaimer
    • Facebook
    • LinkedIn

    Input your search keywords and press Enter.