November 26, 2020

Mymap

All about money

Who May Require the Services of Credit Organizations?

pencil erasing credit card debt

Today, probably, every second Singaporean has heard about microfinance organizations. Many people have already managed to use their services. Most of them work around the clock and seven days a week. They are issuing more and more loans for most people who require urgent money. That is why MFIs are so popular. Who can take advantage of them?

1)     Individuals

This is the biggest group of people aiming to get a personal loan for various needs: home appliances, gadgets, repairs, vacations, holidays, etc. If you are looking for a personal loan Singapore, there is no need to postpone until the salary. MFIs will be happy to assist you!

2)     Students

Students need money like no one other. Education, courses, traveling, gadgets, food, holidays – all this requires considerable expenses. Microcredit is a good solution for this situation. A lot of MFIs offer loans from the age of 18, regardless of social status and place of work. Issuance of funds is possible without guarantors and collateral. So, if you are a student requiring extra funds – MFI will issue a loan with a 90% probability.

3)     Businessmen

To build your own business from scratches, you need start-up capital. Therefore, many entrepreneurs are looking for credit money to start a business. If you have been refused by the bank, you can still have an opportunity to raise some money at the MFIs. Compare the offers of various institutions and start moving to your dream.

4)     Unemployed

Losing a job is something that may happen to everyone. However, you still need to pay utility bills, buy food and take your children to school. In 99% of cases, banks will refuse to issue a loan if a person doesn’t have a job. On the contrary, MFIs are more loyal to their clients.

5)     Retired

This is usually the most vulnerable group of people, especially due to the fact that banks usually refuse them. However, they still have many expenses, which cannot be covered by state programs or their monthly allowance. Therefore, MFIs are also having credit programs for retired people.

How to Apply?

Whenever MFI makes a decision on granting a loan, it necessarily evaluates the solvency of the borrower. However, the general approach of MFI is much more loyal than in the bank. In fact, they have minimum requirements for borrowers. Any adult citizen with a valid ID, phone number and a card of any bank can be issued a loan. To apply for a loan, just follow these simple instructions:

  1. Choose a company with the most attractive conditions for you;
  2. Indicate the required amount of money and the loan term to calculate the interest;
  3. Register on the site and fill in the form;
  4. Wait for a decision and transfer of the indicated amount to a personal account.

Get the necessary financial assistance without leaving a comfortable place at home or at work! Good luck!