There are many money lenders in Singapore offering short-term loans to the borrowers with real estate backed properties as collateral. There are some advantages and disadvantages of availing loans from the money lenders in Singapore as they charge higher interest rates than the conventional lenders like banks or financial institutions. But many still prefer approaching these lenders as it is easy to get loan approval from them with their lending criteria being simpler as compared to the conventional lenders.

Often banks or any other financial institutions when approached for a loan take into account many aspects of the borrower like their repayment capacity and credit history to justify the decision of whether to give a loan or not. But the money lenders in Singapore have a different criteria as they are not credit driven or worry about the repayment capacity of the borrowers but assess the value of the property being kept as collateral against the loan amount.

Moreover, some of the moneylenders in Singapore offer only commercial bridge loans in deals like purchase and renovation of foreclosure properties, foreclosure bailout loans, rehab money loans and mortgage loans for short-term tenures for a short time. Their lending area would be from the country, and all residential and commercial properties are considered as collateral. As Singapore moneylenders have flexible criteria for lending loans thus goes up their interest rates to cover the risk.

The loan size varies, and they don't charge any prepayment penalties from the customers. However, this may differ from lender to lender as there are no strict regulations in force. However slowly money lenders are also being brought under the regulations like they need to have the NMLS license and should also check the documentation of income.

One can apply online to the moneylenders in Singapore by filling in the form with all the details which shall be quickly processed within few hours or a day as lenders do understand that investors are looking for quick money to invest in their business deals. There are no application charges but a 2 to 6% origination fee at the closing of the loan proceeds.