Due to the Covid-19 pandemic, many jobs are lost, wages cuts, and even some businesses are forced to shut down. The closure of these non-essential services are expected to cost roughly 10 billion dollars.

The circuit breaker measures was implemented by the government to combat Covid-19. These measurement have reflected a significant improvement as the number of affected cases per day are dwindling. After 2nd June 2020, businesses are gradually allowed to re-open over 3 phases, depending on the type of industry.

During these difficult times, you may have considered applying for financial assistance from banks or licensed moneylenders. Before approaching any bank or licensed moneylender, we would like to share with you of the list of assistance schemes. This scheme is for individuals and households whose livelihoods have been severely affected by the COVID-19 pandemic.

Now let’s take a look at the various financial assistance schemes provided by the government.

If you are keen on applying for financial assistance with a banks or licensed moneylenders, please do contact the bank or licensed moneylender directly. In the first half year in 2020, the number of scams has been increased by 7% as compared to the first 6 months in the previous year. There has been several reports of unlicensed moneylending, where perpetrators disguise as licensed moneylenders to deceive victims into transiting funds to them.

Do take note that licensed moneylender do not advertise through WhatsApp or cold-calls. If you have received similar messages or calls, it is likelier than an unlicensed moneylender has approached you.

For every loan taken up with a licensed moneylender, applicant will need to proceed to the licensed money lender office. For all loan application, it has to be done face-to-face. In addition, licensed moneylenders are not allowed to impose any fees before granting any loans. For more information, please do not hesitate to contact us, or simply click the chat button Aerocredit Pte Ltd on the right side, and start to chat with us ( if you are using mobile. If you are using laptop, please kindly log in to WhatsApp Web” )