What Separates a Good Business Loan Lender from a Bad One?

Wah Lau! Business Loans in Singapore - How Not to Get Scammed Like Your Ah Beng Cousin"

Getting a business loan in Singapore is like ordering kopi - if you anyhow say "kosong gao siew dai", confirm you get something totally different.

And when it comes to lenders, some are like your reliable kopi uncle... while others are like that dodgy bubble tea shop that gives you diabetes and food poisoning.

At Devise, we help you find the **heng** lenders, not the **suay** ones. Here's how to spot the difference before you kena scam until pants drop.

1. Transparent or Not? Check Like Kiasu Aunty

• Good Lender

  • Shows you EIR (Effective Interest Rate) upfront

  • Explains terms in proper English, not lawyer language

  • No hidden fees like "admin charge" that costs more than your ERP

• Bad Lender

  • Fine print so small need microscope

  • Suddenly got "processing fee" after you sign, or any other random legal fee

  • Like that time you bought "branded" watch from Carousell... turns out fake

Pro Tip: Use Devise - we translate all the banker jargon to Singlish for you. No need to act smart.

2. Flexible or Rigid? Like Yoga vs. Zombie

• Good Lender

  • Cash flow tight this month? Can adjust repayment"

  • Need longer tenure? We talk"

  • Like your understanding wife during PSLE season

• Bad Lender

  • "Late payment? We take your firstborn child"

  • "Want early settlement? Pay 200% penalty!"

  • More rigid than your secondary school discipline master

Pro Tip: Real lenders know SME life is like MRT - sometimes delay, sometimes breakdown. Must have flexibility!

3. Credible or Not? Check Like Checking Chicken Freshness

• Good Lender

  • Got MAS license or under Exempted Licensed Moneylender (like your hawker stall got NEA A grade)

  • Actual office, not "meet at void deck"

  • Reviews don't look like written by their own mother

• Bad Lender

  • "Trust me bro" vibes

  • Office address is a PO box, or don't even want to meet in office

  • Google reviews or brokers reviews all say "Worst experience ever!!!"

Pro Tip: All Devise partners are reputable and licensed lenders - we checked so you don't have to play detective.

4. Proper License or Loan Shark?

• Must check:

  • Legal documentations drafted by lawyer (real one, not photoshopped or ChatGpt)

  • Proper physical office (not those "by appointment only" ones)

  • Company registered in ACRA

• If lender:

  • Ask for your NRIC original copy

  • Say "no need guarantor" too easily

  • Cash loan on same day with just WhatsApp

CONFIRM AH LONG. Run faster than you run from NS recall.

Final Tips from Your (Not Shady) Loan Friend

Good lender = like good kopi - transparent, reliable, no funny business

Bad lender = like dubious bak kut teh - might give you stomachache (and bankruptcy)

Why play Russian roulette when Devise can match you with proper lenders?

**P.S.** Got horror story about bad lenders? Share below lah - let's warn other uncles and aunties!

**Why This Works:**

• 100% Singaporean flavor** - kopi, ah beng, PSLE analogies all locals understand

• Fun but useful** - serious advice wrapped in humor

• Clear warnings** - helps readers avoid actual scams

• Strong CTA** - drives traffic while being helpful

Want more kachang puteh style? Or more formal for corporate audiences? Just say!