The bank said no, and somewhere between the letter and tonight, that no grew into a story: I am blacklisted, no one will ever lend to me, there is no legal way forward. Most of that story is not true. Banks and licensed moneylenders read different records, and a rejection at one is not a verdict at the other. EZ Pte Ltd has been in Chinatown since 2004, licensed by the Ministry of Law. Check our name on their registry, then come and hear where you actually stand.
Banks read your Credit Bureau Singapore report, which scores credit cards, bank loans and the habits around them. Licensed moneylenders read the Moneylenders Credit Bureau, a separate record of your borrowing with licensed lenders. A rejection driven by your CBS score, a thin credit history, or a bank’s internal income floor does not automatically follow you here. We assess your income and your MLCB record as they stand today, and we tell you the honest answer either way.
We check the MLCB on every application. Every licensed moneylender does, and anyone advertising “no credit check” is either lying or unlicensed, which is its own red flag. Here is the difference in what happens next: a weak record does not end the conversation. It shapes it. A smaller amount, a shorter tenure, a repayment matched carefully to your salary. What we will never do is approve a loan we can see you cannot carry, because that is not lending, that is setting you up.
The worker who missed payments during a retrenchment two years ago and has been steady since, but whose bank score has a long memory. The first-time borrower with no credit history at all, which banks treat as suspicious and we treat as a blank page. The person who fell behind once with a licensed lender, cleared it, and wants to know if that door is closed. Come in. The answer is usually more nuanced than the fear.
The same law applies to everyone: up to $3,000 if you earn under $20,000 a year, up to six times your monthly income above that, across all licensed lenders. Interest capped at 4% a month under Ministry of Law regulations. One admin fee of up to 10%, deducted upfront. Total interest and fees can never exceed the loan. With a weaker record, expect us to start smaller. Repay it well and the next conversation is easier, because now the MLCB record says so.
Your verified income is the strongest card you hold. Let it speak first.
Tell us the history straight. We will see the MLCB record anyway, and the version you tell us yourself always lands better.
Signed in person, as the law requires. Every term explained in English or Chinese, and an honest read on where you stand.
Full amount, minus only the one admin fee the law allows.
Almost certainly not in the way you fear. There is no single national blacklist. Banks score you on CBS. Licensed moneylenders check MLCB. A bank’s no is a bank’s no, nothing more.
Yes, always, on the MLCB. Any lender promising “no credit check” is breaking the rules or unlicensed. Treat that promise as a warning sign, not an offer.
Possibly, inside your legal cap across all licensed lenders. Declare it upfront. It is in the MLCB record we pull anyway.
No. That is one of the few hard legal stops. Once discharged, come and talk.
Yes. You can borrow from more than one licensed moneylender, provided your total outstanding unsecured loans across all moneylenders remain within the legal borrowing limit. Approval is still subject to the lender’s assessment of your existing debts and repayment ability.
Handle this one well and a year from now the record tells a different story, one you wrote on purpose. Come in, hear where you actually stand, and decide in your own time.
