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How Licensed money lender Can Finance Your Home Improvement Project

Are you looking to renovate your home? If yes, then it’s quite expensive in Singapore. Even if you are planning to renovate your kitchen, it can drain your bank account quickly. A vital way to protect your hard-earned money from running dry in the home improvement project, you can get a loan from a licensed money lender

When you apply for a personal loan at traditional banks, they will check your financial background and credit score. If your credit score is lower than 650, then chances for approving a loan will be less. 

Fortunately, a money lender is a great alternative to a bank, who always offers you the personal loans of a wide variety instantly. 

Following are the reasons why licensed money lenders are a better choice than traditional loans for personal loans:

Easy approval process: Moneylenders like Crawfort Singapore know that you are looking for the loans which are approved instantly. It would help if you found a reliable online moneylender, and fill out an inquiry form. As soon as they receive your form, they will review it and acknowledge you to fill out another form that is a loan application. You are requested to submit the form along with documents like personal identity proof, income proof, and credit score and address proof. When they get your loan application and the list of documents, they will review it and transfer the amount to your account within 24 hours.

Convenience: Online lenders don’t bother you to visit their office and stand in the queue. All they requested to review their profile, read terms and conditions, and still you may have a doubt you can share your queries via live chat or email. Just sit at your home research about the money lenders online. And once you get a reliable online lender, fill out the loan application and get the loan instantly. 

No credit history: People with bad credit have a lesser chance to get a loan from conventional banks. That’s why online money lenders come into the picture. If you have bad credit and want a loan to renovate your home or any other personal use, you can take effortlessly. Just ensure your lender that you will repay his amount on time. 

Improve credit score: Currently, due to not repaying the amount on time, your credit score is poor, but it can be improved if you repay the bad credit loan on time. If you repay the amount on a date your credit score will improve, and next time you will easily get a loan at the lowest interest from a traditional bank. You can also take a bad credit loan to repay your debts and then repay the bad credit loan on time. This technique will increase your credit score and make you an ideal borrower in the eyes of the lender. 

Quick approval: If you apply for a bad credit loan, the lender will approve it within hours. Because they ask you to submit bundles of documents, a sign of guarantor and collateral, due to lesser formalities, lenders will take less time and approve your loan instantly. 

Why should you get a personal loan for home improvement?

There are a wide variety of loans available in the market. But, the reason why we are encouraging you to take a personal loan is that while applying for this loan, you don’t need to mention the purpose. A lender will not ask you the purpose of sanctioning a loan. 

If you take a personal loan for home improvement, you can cover the following-

  • Repair Work: Under renovation loans, you can use the loan to repaint the walls, change the roof, decor, and floor as well. 
  • Remodeling: You can do any renovation work under this loan. 
  • Decor change: If you want to give any look to your home, you can do it under this loan. 

The interest rates of the loan are low. You can also customize your loan as per your requirements and make it that perfectly matches your budget and needs. 

Things to keep in mind before going to get a personal loan from the moneylender:

Before opting for a loan, it is advisable to consider the following points that we have mentioned below-

Determine what you need: Before opting for a loan determine the purpose of the loan and set the budget for it. 

Ask a contractor: To estimate the budget for the home improvement, ask him to set a budget plan. Once you know how much contractor requires money for home improvement than apply for a loan. 

Final Say:

We hope this comprehensive guide on how a licensed money lender can finance your loan for home improvement will help you a lot. If you have bad credit and want a credit to improve the home, and then apply for a money lender. 

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