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Licensed Money Lender in Malaysia for Business Loan

https://easyloan88.com Easyloan88.com is the leading licensed money lender (pinjaman berlesen) in Malaysia. Apply business loan, SME loan, start up business loan online now.



https://easyloan88.com
Easyloan88.com is the leading licensed money lender (pinjaman berlesen) in Malaysia. Apply business loan, SME loan, start up business loan online now.

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What is the difference between a licensed moneylender and a loan shark?<br />

The ma<strong>in</strong> difference between these two entities is that a licensed moneylender can be a<br />

lifesaver, whereas a loan shark is a ruthless, illegal practice that will prey on you until you pay<br />

up on a massive <strong>in</strong>terest amount. In order to stay away from such a horrible situation, you<br />

should understand the difference between licensed moneylenders and loan sharks:<br />

<strong>Licensed</strong> moneylenders like https://easyloan88.com/ will always expla<strong>in</strong> the terms of<br />

your loan <strong>in</strong> a language you can understand. You will be aware of the <strong>in</strong>terest rate,<br />

payment method options, and repayment period. <strong>Loan</strong> sharks, on the other hand,<br />

will cloud everyth<strong>in</strong>g and be confus<strong>in</strong>g.<br />

<strong>Licensed</strong> moneylenders have unsecured loans based on <strong>in</strong>come. If you happen to<br />

speak to a lender that offers an unusually high amount, you may be deal<strong>in</strong>g with a<br />

loan shark.<br />

<strong>Licensed</strong> moneylenders will always have you sign a contract that has been written by a<br />

lawyer. Interest rate, late payment fees, the repayment period, and other terms you<br />

both agreed upon will be found with<strong>in</strong> this legally b<strong>in</strong>d<strong>in</strong>g contract. <strong>Loan</strong> sharks will<br />

loan you money without a contract or have blank spaces with<strong>in</strong> the document.<br />

<strong>Licensed</strong> moneylenders will never charge above-market <strong>in</strong>terest rates. <strong>Loan</strong> sharks,<br />

however, are known to charge 40% per month or more.<br />

<strong>Licensed</strong> moneylenders will be listed on the government website (mentioned above).<br />

Obviously, loan sharks will not be registered.<br />

<strong>Licensed</strong> moneylenders always have a physical address and office <strong>for</strong> you to visit.<br />

S<strong>in</strong>ce loan sharks are runn<strong>in</strong>g an illegal bus<strong>in</strong>ess, they will not have an office and<br />

may claim to operate solely on the <strong>in</strong>ternet.<br />

Lastly, loan sharks will sometimes use a licensed moneylender's name, address, and license<br />

number to develop a false sense of security. Always double check the SSM number on the<br />

official directory to make sure it matches with what is listed on the website. Also, <strong>in</strong>sist on<br />

sign<strong>in</strong>g the contract at the registered office.

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