Should I get a loan from banks, consumer finance companies or private money lenders? What's the difference?

Banks, consumer finance companies and private money lenders all offer a wide range of personal loan products that are competitively priced. Banks in Hong Kong are tightly regulated by the Hong Kong Monetary Authority. Banks tend to be more selective about borrowers and have stringent credit screening processes in place. Consumer finance companies or Private money lenders are governed under the Money Lenders Ordinance. Private money lenders are licensed by the Licensing Court and closely monitored by the Hong Kong Police Force (Licensing Office). Private money lenders tend to be less stringent and might even accommodate borrowers with more difficult credit history. If you are considering borrowing from a private money lender, we suggest that you make sure that it is properly licensed before proceeding further. The Companies Registry - Money Lenders Unit publishes a current list of all licensed private money lenders, which can be found here. (http://www.cr.gov.hk/en/public/moneylender.htm)