There are many licensed moneylenders in Singapore nowadays. It is almost in every town. Be it in Bedok, Tampines, Pasir Ris, Eunos and so on. This has led to borrower’s convenience. Even with the conveniently located moneylenders, that does not mean their service is up to the standard.
Since money lending business is very competitive, borrowers tends to look for those they are comfortable with. Being friendly and helpful will improve the first impression of the company. Today, more than 100 money lending companies are all around the island. Borrowers may get their payday loan in Geylang area where they are most comfortable with when they are staying in Pasir Ris.
Strict regulations and compliance have been set to maintain the standards and quality of the business. Both borrowers and money lenders have to be transparent on the information they are exchanging. The contracts have to be clearly stated and understood by both parties.