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My suggestion is to try first your own bank where you maintain accounts. They know you and will be more accommodating to make more income from you if they give you a loan.

 

Of course, nothing will stop you from going to any bank but consider the following realities:

1. For many big banks like Metrobank, BPI, BDO, EPCIB, RCBC, a P4-5 Million loan is something for a branch to give. Not a head office type of account UNLESS that loan can qualify as an SME or AGRI/AGRA loan, in which case, any bank will try their damned best to accommodate that loan.

2. If the bank you choose doesn't know you, be prepared to comply with a lot of documentation about yourself (as required by the Anti Money Laundering Council) and to cough up some collateral, like another bank deposit of more than what you are borrowing (the best!) or real estate or chattel.

3. Go to a government bank? That only leaves you Land Bank or DBP and I'm not even sure if DBP gives non-developmental loans. So Land Bank it is. Like big banks, be prepared for documentation and waiting hassles.

4. It might be better to get a Usance Letter of Credit to purchase the machineries. Ask your branch of choice how to go about this. They might give you an LC on a margin deposit.

 

Good Luck!

 

Thank you sir for the help. Appreciate it a lot!

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  • 3 weeks later...

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Edited by tio_pot
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Want to earn 8% from your savings?

 

We, at HOME CREDIT, offer a unique and affordable savings and investment plan for you!

 

Our INDIVIDUAL SAVINGS PROGRAM is a unique savings program geared towards capital build-up. Although it is designed to build-up savings and investments, you are free to use your money for other things... education, vacation, business... YOU decide. Plus, for home buyers, you may use your investments/savings as a bridge to your dream home.

 

Our INDIVIDUAL SAVINGS PROGRAM is a systematic and disciplined savings program that helps you save regularly through various remittance options.

 

Our INDIVIDUAL SAVINGS PROGRAM offers you higher earnings compared to savings and time deposit accounts.

 

Other Benefits:

1. Savings Protection - You are covered with a Credit Group Life Insurance that will ensure completion of your targeted savings.

 

2. Personal Loan - A back-to-Back loan withthe lowest interest rate of less than 1%(discounted interest) per month.

For more details, PM me...

 

this is legit! wanna know more? PM me your contact number/s also and i'll give you the details :thumbsupsmiley:

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may pera sa basura, with 70K as starting fund on junk shop, depending on your location, witin a week 20% na agad ROI nun sa bakal, bote dyaryo o kung ano ano pang junks. i tried this with 30K lang sa Kalookan before, with 3 kariton sa simula naging 15 in 3 months time with each units earning P500 net per day. Dami pa nabigyan ng trabaho na mga tambay lang dati maghapon. Di ko lang nga natutukan because of my office job kaya napabayaan and eventually sinara ko na after selling the kariton and ibang gamit mejo nabawi ko pa din puhunan ko.

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for 70k, try putting up something related to food. kahit hindi ka nga din magaling magluto, ok lang. butch salvador of car magic taught me something that he started up without much cost - he ordered food from a carinderia he regularly ate, sold and delivered the packed lunch to friends and family with a little markup. he said he didn't spent much on it kasi wala naman talaga syang overhead kasi others are making it for him, spending on the said meal and puting it in styro containers. all he has to do is to look for buyers for these meals.

 

easy lang, wala masyadong gastos and kumikita ka pa. sino may ayaw ng ganyang negosyo?

 

 

middleman ype huh?..

 

nice! :thumbsupsmiley:

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yup, ganyan din ako nagsimula. i sold property for my family's bank in the province to the owner of the hardware in town. gusto nya kasi magtayo ng branch sa tabi ng munisipyo so i sold him the bank's idle lot near the munisipyo. i got 500k from it, put it as downpayment in a lot na binebenta ng bank, the rest i financed it. flipped it to a south korean company for 5m more, after taxes and others, netted me 3.6m

 

not bad for a week's work. wasted it all in the casino and girls

 

..hahaha..tha things we do,eh...wel,that's part of it i believe..its urs and who cares...(swerte namn nung mga girls,boss..hehehe)..

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Hey Guys!

 

Im a entrepreneur from Sweden that recently visited the Philippines. I fell in love with your country! :heart:

 

Now im planning on doing some business/investing in the Philippines. Unfortunately i didn't get the time to make all the connections/ and the research. So now im wondering if by any chance someone knows where i can find information on how to start a business in the Philippines? What are the rules for foreigners ? If anyone could recommend me some market research company?

 

If someone would like to share their thoughts on the market. And what to think of before starting up a business in the Philippines, it would be very much appreciated. :)

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Hey Guys!

 

Im a entrepreneur from Sweden that recently visited the Philippines. I fell in love with your country! :heart:

 

Now im planning on doing some business/investing in the Philippines. Unfortunately i didn't get the time to make all the connections/ and the research. So now im wondering if by any chance someone knows where i can find information on how to start a business in the Philippines? What are the rules for foreigners ? If anyone could recommend me some market research company?

 

If someone would like to share their thoughts on the market. And what to think of before starting up a business in the Philippines, it would be very much appreciated. :)

 

Good afternoon sir! I believe that foreigners have no right in owning a business and properties unless he/she has a filipino business-partner or married to a filipino. What jazzy has said is right. you should think first of what you really love to do, what type of industry you want to be with, scale of your capitalization and what will contribute to our country in uplifting our economy (eg employment, social and moral development etc.) Since you love our country, I just ask you one favor, don't exploit nor abuse our "inang bayan". ok? Good luck to your endeavor!

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