Money lender is a person who is in involved in the business of providing monetary backups to people who are in need of it. They operate on a large scale basis in places where people do not have much access to banking facilities.
They usually operate to lend small amount at relatively higher rate of interest. The high rate of interest is justified for the risk involved in the repayment process.
The reason for the flourishing business of money lending is for the fact of operational time. Usually licensed money lender do not take any processing time or any validation checks to ensure the past credit history of a customer.
Door-to-door money lenders are people who give relatively lesser amount as loan and the repayment time is also shorter. Other kind provides you with larger loan amount and the extended repayment time.
Before going ahead with taking loan from a money lender as a payer you need to be aware about the amount taken as loan, any hidden costs and the interest involved. Make sure of the repayment time required before collecting money from the top money lender sg as this might hinder the relation between you and the lender.
Some kind of moneylendersg obtains certain collateral securities from their client before lending money. The security collected will be at the access of money lender until the client has not paid back the entire loan amount. Money lending is a huge business to flourish, ensure that you do not end up giving away all the money in hand without any returns.