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Suffering From Bad Credit? A Bad Credit Score Loan Might Just Be The Answer

As with most Singaporeans, we’ll all take out a personal loan at least once in our lives. Whether it is to purchase a new home, to consolidate debts, to further your studies and so forth.

However, what happens when you suffer from bad credit? Having a bad credit score can be very frustrating. It will then limit your options and significantly lower your chances of getting approved for a loan. It can also expose you into an unending cycle of lack and financial strain.

Don’t let your bad credit score affect your chances of securing a loan.

What Is A Bad Credit Score Loan?

Just as the name suggests, a bad credit loan is a loan specifically tailored for those who are suffering from bad credit, have faced countless loan rejections, yet require additional financial help.

We understand that a borrower with a bad credit score is usually shunned away by banks and other credit unions. This might be extremely exasperating, especially so if you wish to take out an urgent loan.

This is where Lending Bee’s Bad Credit Score Loan can come in handy. Our fast cash loans can help to relieve your financial burden, and provide you with the necessary financial help.

We believe that everyone should have equal access to credit. This is why we do not discriminate against bad credit score borrowers.

Credit should be made accessible to everyone. Apply for a loan with us today.

Why Choose Lending Bee's Bad Credit Score Loan?

  • Simple online application process
  • Receive instant cash upon approval
  • Flexible repayment tenures up to 36 months
  • Impeccable customer service
  • Affordable interest rates from 1 - 4 %
  • All Singaporeans & PRs are welcome to apply
  • Unsecured loan, no collateral required
  • Application is 100% confidential

Our Process Is Simple – Just 3 Steps

Apply anywhere and we will get back to you within an hour. Efficient and reliable, we help you make progress in life.


1. Easy online application

Fill in our online form that takes only 3 minutes.


2. Confirm your

Our consultants will contact you to confirm your loan at one of our branches.


3. Get your

Receive your money in cash or cheque on the spot.


1. Easy online application

Fill in our online form that takes only 3 minutes.


2. Confirm your details

Our consultants will contact you to confirm your loan at one of our branches.


3. Get your money

Receive your money in cash or cheque on the spot.

5 Situations Where A Bad Credit Score Loan Can Help

During the phase of your life, there are situations where you might require an additional sum of money to manage your financial situation. A sudden medical emergency or accident may find you riddled with endless medical bills. An unexpected retrenchment will also leave you with a sudden loss of income.

When such undesirable situations occur, a bad credit score loan can prove extremely helpful. Once your bad credit score loan is approved, here are some scenarios where you can use it:

Home Renovation Loan Determine Your Budget

1. Emergenices

A bad credit score loan is suitable to finance any forms of emergency.

This could be a medical emergency, a funeral, or any other urgent situation that has arisen. Such emergency situations are usually distressing, and are made even worse with the lack of funding.

A bad credit loan will be of great help in cushioning you during these times of crisis That said, you should only take out the sum you require so as to avoid grappling with repayments after.

Home Renovation Loan Be Realistic

2. Wedding Expenses

If you are planning for a wedding and your credit rating is not favourable, a bad credit score loan will help you to finance your big day.

Such a loan is ideal for occasions like weddings because it is generally short term in nature. You can organise your budget and repay the loan within a few months after your wedding.

This way, you can plan for your dream wedding without having to worry about costs.

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3. Paying For Your Child's Education

At Lending Bee, we believe that your finances should not limit your child’s education opportunities. As a parent, you only want the best for your child. This includes sending them to prestigious educational institutions

You could be interested in furthering your education, or a family member could in need of school fees. With a poor credit rating, it will be difficult for you to get any other loan. A bad credit loan will enable you to pay the school fees required.

Home Renovation Loan Consider Doing Some Things Yourself

4. Vacation Expenses

Going on vacation can be very expensive. You may desire to take a well-deserved break to unwind and have a time of bonding with family and friends.

A negative credit rating should not hinder you from enjoying this time of rest. A bad credit score loan can be used to finance your short vacation. This way, you’ll be able to enjoy your vacation without worrying about costs.

5. Delayed Salary

There may be times when your employer might delay your salary due to unforeseen circumstances.

What happens when you have utility or rental bills to pay? This can prove to be very distressing. With a bad credit score loan, you’ll be able to account for your rental and utility expenses. 

This way, a bad credit score loan can tide you through till your next pay cheque.

Features Of A Bad Credit Score Loan

1. Might have a higher rate of interest

Most lenders tend to charge a higher interest rates for bad credit loans. This is because it is risky for a lender to issue a loan to a borrower who has a poor credit rating. Therefore, most lenders make every effort to cushion this high risk by charging a higher rate of interest.

However, at Lending Bee, we do not raise our interest rates for borrowers with a poor credit score. We understand that certain situations require urgent financial help. After getting rejected by banks and other financial institutions, getting a bad credit score loan from a licensed money lender might be the last resort. This is why our interest rates are standardized (up to 4%), regardless of poor credit or not.

2. Shorter repayment period

Loans given to borrowers with bad credit are usually short-term in nature. Lenders prefer to give loans that will take a shorter time to pay back because the longer the loan term, the higher the chances of default.

Here at Lending Bee, we allow you to customize your loan tenures up to a maximum of 24 months. This allows for easier repayment so that you will not hurt your finances while tending to your financial obligations.

3. A limited loan amount

Bad credit score loans usually have a more stringent cap on the loan amounts which you can borrow. This is because issuing a big loan amount to a borrower who already has a bad credit rating increases the risk of default. The smaller loan amounts are aimed at making it easier for the repayments to be done in a timely way.

Lending Bee urges those who wish to take a bad credit score loan to only borrow what they can afford. This is so that you can make timely repayments and avoid incurring unnecessary late repayment fees and to also prevent loan defaults.

4. Can be unsecured

Just like all other loans, our bad credit score loan is unsecured. For unsecure bad credit loans, we do not require any collateral from you, the borrower to approve the loan. In case of default, we use legal avenues and agents to collect the outstanding debt.

This is why we heavily emphasize that you should only take out what you can afford to repay so that you will not find yourself defaulting on the loan.

Tips To Save On Your Home Renovation Costs

A home renovation loan is a great option if you don’t want to put a strain on your personal finances while creating your dream space. These loans differ from personal loans. They are designed specifically for renovations. Therefore, you cannot use the money for anything other than renovating your home.

The interest rates on renovation loans are much lower than personal loans. This is because lenders consider the project as an investment in your home, which is an asset. They are more willing to provide financing to enhance the value of an asset. The low interest rates are also a result of other restrictions placed on these loans including what type of enhancements the loans can be used to pay for and the fact that the money will be disbursed by the lender directly to the contractor.

However, even with the low interest rates, taking a home renovation loan isn’t a small matter. You’ll have to repay every cent you have borrowed plus interest. It’s therefore in your best interests to reduce the amount you will have to repay. You can do this by:

There are many licensed moneylenders who are willing to fund the cost of your home renovations. You should compare their interest rates as well as the terms of their home renovation loans before settling on any particular lender. There are various comparison websites that make comparing loans easy. You can use these sites to identify the loans with the best rates.

A great way to reduce the total amount you will need to borrow is to work in stages. This will allow you to save money for each stage of your renovation. You will therefore be able to pay for a greater percentage of the renovation from your own savings.

Start with the bare essentials and move on to other aspects of the renovation later. This may seem inconvenient at first, but it will save you a lot of money in the long run. This way, you will end up borrowing much less for the renovation.

It would be great to have the most expensive tiles and the perfect finishes for your renovation, but this isn’t always possible or practical. Your budget may not allow for this. You should instead try to source cheaper alternatives. If you’re set on using an expensive material, you should save for it.

  • Avoid last minute changes to your plans – Making changes to your plans will result in rework. This may mean purchasing additional materials and more man-hours which will add up to your total costs.
  • Take specs and measurements before you make a purchase – This will ensure that you purchase the right materials or products and get the right fit the first time. You won’t waste time or money.
  • Be flexible with your design choices – You may have to choose cheaper materials in order to avoid exceeding your budget. You may also have to consider a different type of product or material if your first choice is out of stock.
  • Check the renovation work at different stages – Regular thorough checks can help you identify defects. These defects can be rectified early. You will therefore avoid having to invest in extensive repairs down the line.

Looking for alternatives to fund your home renovation? A home renovation loan is just what you need.

Benefits Of Taking Out A Home Renovation Loan

1. Achieve the look of your dream home

Your home is probably something that you are going to spend a considerable time of your life in. Hence, it pays to spend a little more to design and furnish it to your liking. With a home renovation loan, you’ll be able to make up for the deficit in funds and turn your dream home into a reality.

2. Increase your home value over time

With the borrowed sum, you’ll be able to spruce up and make improvements to your property. Thereby increasing the value of your home should you wish to sell it in the future.

3. No collateral required

As we do not require collateral for you to take out a home renovation loan, the equity of your home will not be taken into consideration.

That said, a tip is to prioritize renovation works that require more work to be done. Does your bathroom require remodeling? Do you need to change the tiles of your living room? Does your apartment need repainting?

By prioritizing your renovation works, you will also in turn save on your renovation loan.

4. Receive your money in one lump sum

Rather than borrowing money from your friends and family who might not have the means to cover for the entire cost of your home renovation, you might wish to consider taking out a home renovation loan.

With a home renovation loan, you’ll be assured that you’ll receive the loan in one lump sum. This allows for you to play your home renovation costs and budget for any unexpected emergencies. 

Lending Bee Home Renovation Loan can help you achieve your dream home without straining your finances.

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