Loan Article Resource Blog

Types of loans

Ever wondered how to have cash instantly because of an urgency to pay for something, or even came up short of money but you are confident you can repay it in a short period of time, or caught in a situation that you need money but you know that you can’t borrow it from anyone since you are a foreigner?

Elitemoneylenders have taken all these concerns into consideration and came up with different loan packages that they can offer.

Personal Loan

Be it for medical expenses, bill expenses or anything for personal expenses, one can avail of the Personal Loan package. Personal expense can be defined as any form of payment for something that we want, like paying for a vacation or for shopping. To obtain for a Personal loan, the borrower should be eligible by presenting that they are a Singaporean or Permanent Resident and proof of their local employment.

Payday Loan

Payday loan is a type of loan where you can borrow the salary you are expecting for the next payday. It is just like having a cash advance. Usually this type of loan is repaid after 14 to 30 days and is considered as short term loan.

Foreigner Loan

As a foreigner working in Singapore, we are sometimes faced with the situation where cash is needed urgently. It is a good thing that elitemoneylenders offers loan to foreigners who are faced in this type of situation. To be eligible, a foreigner needs to present different documents like, the 3 months payslip, Singapore employment pass and valid passport.

For more information on the required documents you may visit the website at


Two sides of Loan business

Posted in Loan Services by elitemoneylenders on November 28, 2011
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Having financial difficulties in short notice can be a hassle, especially when you least expect it. Most people would seek help financially through means of personal loan, or borrowing money for a period of time from a reliable bank or person. This means that the borrower should also be responsible for paying the lender the amount of money he or she borrowed with or without interest, depending on the agreement between them. If, for some certain reasons the borrower could not pay the lender in time, he or she should pay collateral in form of money or properties, depending solely on the contract approved of both parties.

For the lender’s side, venturing in a loan business can be hard, but its all about trust. The money lender such as should be consistent and strict, but at the same time willing to flexible, about the given conditions or rules in loan so that he or she would also benefit from the business. Having sufficient capital for lending is also important and depends on which target market they want to undertake.  Personal loans, business loans, housing loans and others are some of the different types of loans that can be provided by the lender to the borrowers.

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