FINANCIAL SERVICES
When Lendela CEO and founder Nima Karimi went to Singapore to start his firm, he was surprised that a good number of Singaporeans took a traditional stance around the concept of borrowing money.
“There's a certain stigma around lending which leads to shame and isolation when someone requires a loan. So it’s not often talked about openly and becomes this very lonely experience,” Karimi told the Singapore Business Review in a recent interview.
“We see examples of individuals applying [for loans] and not telling their spouses or parents which for me, is the obvious first step, you talk to your immediate family about a big financial decision,” Karimi added.
Recognising this gap, Karimi sought to provide a secure platform in Singapore for borrowers to transparently access eligible loans while helping credit providers match with more ideal customers.
Lendela’s matchmaking tool
Applying for a loan can be tedious as there are over a hundred registered money lenders in Singapore and it will be difficult to check them all and do the research.
This story is from the Issue 106 edition of Singapore Business Review.
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This story is from the Issue 106 edition of Singapore Business Review.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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