Moneylending in Singapore is not a recent trend. Moneylending activities have been going on for a long time. The problem is most of those moneylenders are loan sharks. They trick you into taking loans with seemingly low-interest rates. When you take that loan, they ramp up the charges. They begin to threaten you and your loved ones. They even go so far as to post details about you, including pictures, online. As such, you need to be careful with whom you borrow money from. An easy way to weed the loan sharks from the moneylenders is by recommendations and referring to the updated list of licensed moneylenders extracted from Registry of Moneylenders.

Recommendations are essential when looking for a moneylender in Singapore. These recommendations come in the form of reviews and word-of-mouth. Information from people who have borrowed from moneylenders is invaluable. You can get reviews online. There are platforms for moneylender reviews, where you can get all the information you need on moneylenders in Singapore. These are first-hand accounts of people who have borrowed from moneylenders. See whom they vouch for and whom they tell you to stay away from and follow their lead.

You can get money lender recommendations from friends, family, and colleagues. This is a word-of-mouth recommendation. With their experiences, you can sift through the good and the bad. Then you can begin to check for reliable moneylenders to borrow from.