Lendela redefines borrowing experience to fight isolation and stigma
Singapore Business Review|Issue 106
The startup provides a platform for easy loan eligibility assessment using minimal personal data.
Consuelo Marquez
Lendela redefines borrowing experience to fight isolation and stigma

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.

Bu hikaye Singapore Business Review dergisinin Issue 106 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Singapore Business Review dergisinin Issue 106 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

SINGAPORE BUSINESS REVIEW DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
How TikTok powers cross-border shopping for Singapore retailers
Singapore Business Review

How TikTok powers cross-border shopping for Singapore retailers

The yellow basket feature allows viewers to purchase items directly during livestreams.

time-read
3 dak  |
Issue No. 109
Income Insurance seeks to fill billion-dollar financing gap in climate transition
Singapore Business Review

Income Insurance seeks to fill billion-dollar financing gap in climate transition

The region skimmed its carbon intensity by 2.8%, far below the 17.2% needed.

time-read
3 dak  |
Issue No. 109
SIDS fights misconceptions in interior design with accreditation, education
Singapore Business Review

SIDS fights misconceptions in interior design with accreditation, education

The organisation is setting up a digital platform to speed up accreditation from 6 to 2 months.

time-read
3 dak  |
Issue No. 109
IHH's proton therapy takes aim at tumours with precision and low risk
Singapore Business Review

IHH's proton therapy takes aim at tumours with precision and low risk

Leaving surrounding organs at risk during cancer treatment might become a thing of the past.

time-read
2 dak  |
Issue No. 109
SingPost pivots from mail to logistics as e-commerce demand drives growth
Singapore Business Review

SingPost pivots from mail to logistics as e-commerce demand drives growth

It is banking on e-commerce to drive its logistics unit, which accounts for 69% of revenue.

time-read
3 dak  |
Issue No. 109
Singapore needs SEA neighbours to power renewable energy transition
Singapore Business Review

Singapore needs SEA neighbours to power renewable energy transition

Experts favour Malaysia and Indonesia as renewable energy import sources.

time-read
2 dak  |
Issue No. 109
Singapore's architecture blueprint spurs push to tackle brain drain in other sectors
Singapore Business Review

Singapore's architecture blueprint spurs push to tackle brain drain in other sectors

Paying the country's architects just right will hopefully stop the brain drain.

time-read
3 dak  |
Issue No. 109
Millionaires eye a piece of Singapore's rich colonial era
Singapore Business Review

Millionaires eye a piece of Singapore's rich colonial era

The country's remaining 6,500 shophouses are in high demand amongst the ultra-rich.

time-read
3 dak  |
Issue No. 109
HDB resale portal unlikely to cut out property agents
Singapore Business Review

HDB resale portal unlikely to cut out property agents

The portal enables sellers to list their units themselves.

time-read
3 dak  |
Issue No. 109
Factory and retail spaces shine as housing heads for worst market slump in 16 years
Singapore Business Review

Factory and retail spaces shine as housing heads for worst market slump in 16 years

Its manufacturing and tourism rebound will spur demand for industrial and high-street shops.

time-read
4 dak  |
Issue No. 109