KST Credit

Names of Recipients:
Mr. Mark Ng
Mr. Anthony Ng

Living in a society as fast paced as Singapore, it is common for people to fall behind on their finances. KST Credit seeks to find a solution to this very problem. KST Credit is a licensed money-lending company that aspires to help out people with an urgent need of money. The loans can only be granted if the potential customer has a good income statement.

Set up in 2009, KST Credit was founded by Mark and Anthony Ng, two individuals with a firm belief in mutual respect and honesty. They also share the same vision of becoming the market leader in their selected industry that provides affordable loans to the masses. KST Credit also actively stand behind the vision of enhancing the public image of moneylenders beyond its usual social stigma.

When asked about their initial decision to set up their business, both owners felt that choosing to commit to this industry will allow them to generate extra revenue for further investments. In addition, Mr. Anthony Ng stated that it was his dream to become his own boss as everybody wants to dream big. Adding on to that statement, Mr. Mark Ng mentioned that he derives a sense of happiness through helping people who face difficult financial situations.

The stringent governmental policies with regards to gaining licensing was seen as one of their major challenges by the owners at the beginning of their entrepreneurship. Mr. Mark Ng mentioned that a money-lending company will have to go through strict background checks from the government that often include detailed family history research. Moreover, he added that it was easy for people to fall foul of the loan. Mr. Anthony Ng also emphasized on the social stigma of money-lending being one of the major reasons for people not wanting to get a loan from their company.

The owners use a gentler and softer approach in their business. While one might easily see the money-lending industry in a negative light, the owners prefer to view their customers more as friends who need a helping hand to help them tide through their difficult financial storm. This approach can endear more people to see the industry as both helpful and compassionate at the same time.

According to the owners, one of the proudest business achievements to date includes being able to gain the trust of their clients as many of them become returning customers. Furthermore, KST Credit has a bigger customer base due to their method of business. These achievements are very important to the owners as they stand as proof that they have upheld their ethos of providing good and friendly service to their customers.

When asked about the meaning of entrepreneurship, Mr. Anthony Ng has the following to say. “Do not be greedy. Otherwise, it will override our business ethics.” This prompted Mr. Mark Ng to mention that in this industry, progress must be taken one step at a time.

For all entrepreneurs, motivation is one great factor for success. On this topic, Mr. Anthony Ng says that the very fact that this company is his very own makes it a great motivator for him to pursue success. Adding on, Mr. Mark Ng said. “The ability to generate more income for myself, it itself is a good motivation. Also, with the stigma of money lending, we want to project a good image of this industry. It will benefit all of us.”

Sharing some secrets to their success, both founders agree that strengths in character are essential for an individual’s success in the business arena. “They must have perseverance.” Mr. Anthony Ng said. “They cannot expect to have success immediately. To achieve success, they must be prepared to take certain risks as well, but they have to be careful not to go overboard.” Adding on, Mr. Mark Ng said, “They also must have sincerity, this is the way you can gather a loyal customer base. So, you must have both perseverance and sincerity to succeed.”

Shedding light on the amount of risk involved in operating a business, both owners emphasized on the balance required in risk management. As a potential business owner must be able to take certain risks but never becoming overboard or excessive in doing so.

With the motivation to help those in financial difficulties in an approach that is gentler and compassionate, KST Credit will not only be able to genuinely help those in difficult positions, they can also set a new standard for the licensed money-lending industry in Singapore.

Contact Details:
183 Toa Payoh Central
#01-254 S(310183)
T| 8323 8899
E| kstcreditloan@gmail.com

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