01.

Finance Company

Finance companies are one of the most common institutions providing loans to individuals and businesses in Hong Kong.

02.

Characteristics of Financial Companies

Finance companies are more flexible in operation, have faster approval, require fewer supporting documents, and offer a wide variety of loan types. Compared with finance companies, bank loans are more difficult to approve, take longer, and require more documents. Therefore, many people apply for loans from finance companies.

03.

Types of Financial Companies

According to Hong Kong law, financial companies must be licensed. There is only one type of finance company license. There is no distinction between first-tier finance companies, second-tier finance companies. Most of the so-called second-tier finance companies or second-tier finance companies are not actually finance companies with finance company licenses, but finance company intermediaries. Customers must choose a legal and formal finance company with a finance company license. The list of licensed finance companies can be found on the website of the Companies Registry.http://www.cr.gov.hk/tc/public/moneylender_02.htm

04.

Beware of Financial Intermediaries

More and more scammers are claiming to be intermediaries of finance companies, enticing borrowers to borrow money from finance companies through them, and then charging high fees under various names. According to the law, if anyone pays fees to a finance company intermediary, the finance company cannot approve the loan. Even if the finance company intermediary does not charge fees, the finance company cannot approve the loan unless it has registered the information of the finance company intermediary with the Companies Registry. A list of financial intermediaries can be found on the Companies Registry websitehttp:http://www.cr.gov.hk/tc/public/moneylender_03.htm

Money Lender’s Licence No.: 1885/2024
Complaint Hotline:+852 3465 9886
Complaint Email:comment@accgirlfinance.com
Warning: You have to repay your loans. Don’t pay any intermediaries