licence money lender provides loan and charges interests at 15% monthly as follows not not different against illegal Ah Long.
Take loan @ $900 and must settle with $1040 within a month.
early settlement no discount.
Admin fees - 10% plus loan interests 4% = actually @14% a month
when monthly payment is due default interest$ @$140 must be settled first and the amount $1040 remain outstanding.
This high interests loan at 4% + 10% was approved by authority.
No wonder so many biz man want to be licence Ah Long !!!!