SINGAPORE- Media OutReach - 14October 2020 - As a licensed moneylender in Singapore, 96BM Credit Pte Ltdwould like to clear the company's name and strongly condemn any unlicensedmoney lender that misuses 96BM Credit Pte Ltd's name as a licensed moneylender.

With theirnewly revamped website at cashloansingapore.com.sg,the company believes in educating the public on how financing and debtrepayment works in a sustainable manner.

Combatingloan sharks and unlicensed moneylenders

Amidst theCOVID-19 pandemic, 96BM Credit Pte Ltd has seen a sharp increase in loan sharkscreating fake and fictitious websites masquerading as a company's real website.

Specializingmostly in business loans,personal loans, payday loans, and debt consolidationloans in Singapore, the fast growing 96BM Credit Pte Ltd has served morethan thousands of clients in a short span of 2 years plus since it has beenaround.

Havingrecently revamped their new website, 96BM Credit Pte Ltd continuously educates thepublic on sustainable moneylending for both business and personal use.

Charles,Operations Manager at 96BM Credit Pte Ltd claims,"I think the money lendingscene in Singapore is getting from bad to worse amidst the COVID-19 pandemic.Most loan sharks attempt to use our name as a licensed moneylender to provideunlicensed moneylending activities. We strongly advise against the public toborrow from unlicensed moneylenders as they charge exorbitant interest ratesand this often goes unregulated. I would strongly advise the public to checkout the list of licensed moneylenders at the MinistryOf Law's official website."

How smallbusiness owners view unlicensed money lending activities

Smallbusiness owners in Singapore often approach licensed moneylenders like 96BMCredit Pte Ltd to free up cash flow in order to run their business. Smallbusiness owners like the Founder & General Manager of Best SEO Singapore, Jim Ng says, "I thinkit's quite predatory that some unlicensed moneylenders such as loan sharksactually start using the name of licensed moneylenders to conduct unlicensedmoneylending. That is totally unacceptable. As a small business owner, I don'teven know how to check the legitimacy of the money lending business either. Ineither case, I will still continue to take any small business loans from banksas I have quite a healthy cash flow in my own business. That said, if I do comeacross a time where the bank no longer lends me money, I will definitelyapproach licensed moneylenders as compared to unlicensed moneylenders. There isno point in getting myself in trouble with the law."

The officialwebsite of 96BM Credit Pte Ltd is at https://cashloansingapore.com.sg/. Any other websites that claim to be the website of 96BM Credit Pte Ltd islikely belonging to a loan shark or an unlicensed moneylender.