If a crew wanna borrow money from a bank or loan shark,he has to pay high interest rate. With SQ house renovation loan the interest rate is super low. But then how to get that loan and yet don't wanna renovate his house/flat?. Easy la and this was how they did it.
First SQ would lend a staff up a max of say x month salary (let say it's 10 months). So if the crew salary is 2k per month then he may borrow up to 2 X 10 which is equal to 20k. Payment may be stretched in installments of up to 5 years. If you work out the installment payment per month would be about $333 and with interest it won't even cross the $400 mark.
They would go to a hard up renovation contractor and asked for a bogus bill of the supposedly renovation work done. Attached the bill and submit with the application and the loan of 20k would be lent.
One may use the 20k for a hoilday or settle debts or whatever.