Licensed Money Lenders Boon Lay
Small Loans, Big Solutions

Short Term Loans
We offer the most flexible repayment terms you can meet with ease.

Money on Demand
Get your cash in less than 30 minutes after you signed your loan contract with us.

Trusted Transparency
From our online loan calculator to loan contract - we ensure no hidden charges!
Eligibility and Documents Needed

Loan applicant must be aged 21 years and above

Singapore Citizen or Permanent Resident

In employment
Eligibility and Documents Needed
- Identification Card (NRIC)
- Singpass Login
- Proof of billing ( Any latest bill indicating residential address)
- Latest 3 month original payslip (Only applicable if there is no cpf contribution)
- Letter of employment (Only applicable for new employment)
For Self Employed
- Identification Card (NRIC)
- Singpass Login
- Notice of assessment (NOA indicating trade income)
- ACRA (Accounting/Corporate Regulatory Authority)
- Proof of billing ( Any latest bill indicating residential address
For Taxi Drivers
- Identification Card (NRIC)
- Vocational license
- Taxi pass
- Min 7 days job summary
- Proof of billing ( Any latest bill indicating residential address)
Boon Lay
Boon Lay is a town named after Chew Boon Lay, who owned the land way back in the late 19th century and early 20th century. Over time, Boon Lay’s village slowly developed into Jurong Town Corporation’s housing estate (JTC).
The town lies next to Jurong West that is already Singapore’s western part. You’ll find various transportation options in the place where you can travel around without any problem.
Residents lived efficiently in Boon Lay because of the convenience. All essential places are accessible to them, including the leading industry of lending.
Seeking financial assistance is not a problem here. Thanks to the Licensed moneylenders in Boon Lay, which provides the best loan products and services.
Through Boon Lay’s money lending services, residents learned about the importance of credit scores.
Licensed Moneylenders in Boon Lay: What drags down your Credit Score?
A Credit Score is a number in your credit report that tells if you’re creditworthy or not. It indicates your payment pattern in your financial activities. This way, financial institutions like moneylenders use this to identify whether you are a high-risk borrower or not.
A low credit score means poor performance in handling our financial obligations. Factors that can drag down your score is your payment behaviour.
Are you paying your debts on time or not? Have you, in any case, default a mortgage or any type of loan or not? All these are just a few of those factors that can highly affect your score.
Now, the downside of having a low score is that borrowers can barely get loan approval. That isn’t good.
But the good news is trusted Boon Lay money lending companies, welcome high-risk borrowers. If you’re one of them, don’t stress too much. These type of lenders can help you improve your credit scores.
Credit accounts
The number of existing credit accounts has an impact on your score. No matter how much your credit is, it’s still considered a credit. Having three credit accounts with various amounts is quite a handful, and it is a red flag for banks and lending facilities.
In that case, low-interest personal loan approval is at risk. You might be thinking about closing all your accounts. However, it isn’t a wise move as well.
Registered moneylenders in Boon Lay have a piece of advice to credit account holders: open only an account or two. Afterwards, pay it on time. It is the best way to recover your failing credit score.
Credit history
No credit history is known as an ungraded credit. Banks and money lending companies can not evaluate your repayment performance.
Identifying high-risk and low-risk applicants are necessary for them. If you’re seeking an auto loan, loan rejection is possible. Banks, especially, refuse to take unknown risks.
Contrary to that, licensed moneylenders in Boon Lay give a chance to zero-credit applicants. Also, they’ll advise you on how to create a good score.
Better open a single credit account and be responsible for your payment obligation.
Loan interval
Too many loans at short intervals reflect financial desperation. It also means a red flag for banks and lending companies.
Typically, it happens if you applied for an insufficient loan. Trusted money lending companies have a solution for this. Calculate how much you need to finish off your car purchase.
Let’s say your auto loan is approved. But sadly, you underestimated the actual car cost. You forgot to include other expenses aside from the car’s exact price.
To make up for it, you applied for a personal loan. It’s like you took up another loan to support your first loan. Thus, adding up more repayment in the future can negatively impact your credit score.
Use the online loan calculator found on the lender’s site. It estimates how much repayment you can handle. Avoid getting a new personal loan to pay off your existing loan.

Licensed Money Lenders Boon Lay
Loan application
A simultaneous loan application at the same time is never a smart move. Technically, your credit rating would probably poorly reflected. Asking loan items all over the place seems like you’re too needy.
Make it a habit to shop around accessible lenders. Decide on which lender offers the best loan product for your needs.
Loan executives of Boon Lay moneylenders think of ways to entice aspiring borrowers. They offer online loan products and services to fit every borrower’s needs. Here, the interest rates are strictly calculated.
Late repayment
For every payment a borrower makes, it is reported by the moneylenders. So if you made a late payment, it is shown in your credit rating.
Non-diligent payers are also known as high-risk applicants. This event is avoidable, according to the licensed moneylenders in Boon Lay.
Talk to your lender. Inform them ahead of time if you’d undoubtedly make late payments. There will be some necessary adjustments that as long as you complete the payment.
Bankruptcy
Having a bankruptcy record is a big no-no. It remains in your history for up to five years. It’s a big warning sign for lending institutions to approve your loan.
Licensed moneylenders in Boon Lay warn borrowers with this history. Usually, borrowers with bankruptcy records get rejected when getting an auto loan, home loan, or business loan.
Nevertheless, you can still clear your bankruptcy status. It takes time, though. You can start with a low-interest personal loan or a renovation loan with the moneylending company.
Credit default
Consistent payment failure is a big sign of a loss to banks and lending companies. If you’re stuck in paying your debts, defaulting won’t save you. Instead, it would dig your financial grave.
Once a credit default is reported, it pulls down your credit score in an instant. Your chance of getting a new and bigger loan amount in the future is thin.
Take care of your credit score. Keep in mind the factors that drag down a borrower’s score. Avoid it at all costs.
Licensed Moneylenders in Boon Lay guide to recover a Low Credit Score
Are you a high-risk loan application?
Do you want to recover your low credit score?
Licensed moneylenders in Boon Lay has the best answer for you.
Loan inquiry
Limit your loan inquiry. Every time you inquire, it is posted in your record. You can avoid this if you shop around first.
Look out for lender’s reviews, feedbacks and loan products and services. Once decided, apply for the payday loan you need from a reputable lender.
Loan repayment
On-time payment is the best answer to your dropping credit score. Although it takes time, it’s a sure win.
Help remind yourself of your due dates by setting the alarm. No missed payments will be a significant impact on your score.
Licensed moneylenders in Boon Lay allows early loan termination. It’s a win-win situation. You finish your loan early without additional charge. Plus! You get a good grade from your lender.
Loan amount
The short-term loan is easier and faster to accomplish. The moment you pay off all the loan amount on time, you’ll be rated high.
Then you can proceed to a new payday loan and pay it regularly. It’s a long shot, but it will recover your credit score.
Being partnered with reputable lenders can help you build a healthier score. Licensed moneylenders in Boon Lay does not only lend money. They also assist you to keep up your credit score.
Your credit score is one of the defining factors in your loan application. Make sure you make the right decisions for every loan you take. You’ll never know how much it affects your score.
Recover your credit score by getting a flexible instant cash loan from the licensed moneylenders in Boon Lay today!
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