Loans between Individuals, an Alternative Solution

You need credit, but you have trouble getting a loan from banks and traditional financial institutions? Or would you like to take advantage of more advantageous conditions?Credit between individuals exists and can represent an advantageous alternative solution.

What is the loan between individuals?

Credit between individuals is a credit transaction between two natural persons without the intermediation of a bank or a credit institution. This type of credit isalready widespread in Singapore and many countries. This type of credit is subject to the rules of traditional loan agreements.

How to obtain a loan between individuals?

The easiest and fastest way to get credit between individuals is on the Internet. You will find low interest Singapore moneylender websites that offer platforms to facilitate the relationship between lenders and those who wish to use credit between individuals.

On these online platforms, a private lender can offer financial assistance, earn interest and guarantee investment. The website is responsible for obtaining the necessary guarantees and making the funds available to the borrower.

The crowd funding, which is also considered a loan between individuals, it is not really a credit in the strict sense since this type of funding is for a project of a person who wants to use it very accurately. This person offers private funders services or assets to offset their financial assistance. The options with the Low interest Singapore money lender are perfect there.

Specialized sites

To find out a low interest Singapore licensed moneylender on a specialized Internet site, it is generally necessary to follow the following steps:

  1. Registration on the Site

To be able to subscribe a loan you must first register on the site by providing several documents:

  • A copy of an identity document
  • Proof of address
  • A bank account number

Most of the time, you will often need to provide proof of your income such as a copy of your latest pay slips, the latest tax notice. The last rent receipt or the deed of ownership of your home may also be requested, as well as the last three bank statements.

  1. Online Application

To subscribe to a loan, you must apply by completing an online form. Potential lenders who are registered on the site will receive your request by email.

  1. Validation of theDebt Recognition

If one of the lenders registered on the site is interested in your request, it validates it.

  1. Signature and Sending ofthe Debt Acknowledgement

Once you have received validation from your lender, you must print the debt acknowledgment with its characteristics (amount, repayment term, terms, etc.) and sign it in two copies. You keep one and you send the other to the lender.

Do not be lured by fake lenders who stalk their prey in the forums. Money lending between individuals works very well, but only if it is only trusted companies or with a solid reputation on the net and social networks.

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