We received this question from Mr. Edwin Catindig in response to
my blog post on how to increase your chances of getting that bank loan approved.
I am interested in getting a loan for my projects next year. I want to know the ins and outs on how to get a loan. Can I use an “APPROVED PURCHASE ORDER” from my customer as a collateral for my loan or what other options can I avail? My expected loan amount is approximately P2 million and what collateral can I offer to the bank in order for my loan to be approved.
Thank you and I hope to hear from you soon.
Edwin Catindig
MJJP Enterprises
Here is BPI’s response:
Mr. Catindig's purpose is one of the many purposes of our loan product called Property Equity Credit Line (PECL). It is a credit line that can be accessed via checks. Once the PECL of the borrower is approved by our Credit Committee, we provide him with a PECL checkbook consisting of 50 leaves instead of giving him promissory notes to sign. The PECL checks the borrower issues become his promissory notes. Very convenient, isn't it?
Our PECL is collateralized by deposits, real estate, selected blue chip shares of stocks, selected club shares and/or AMTG investment products. Mr. Catindig may call me up for further details.
Regards to you and Happy New Year!
Tony Abad
BPI
Note from Salve: Mr. Catindig, please email me at lightdream (at) gmail (dot) com for Mr. Catindig’s telephone number. Good luck!
i want to loan a 1 million pesos to start my business now im working her in japan
it not easy to get loan. A lot of process we need to do if we don't have good financial statement.
secure loans
I found your blog on google and read a few of your other posts. Keep up the good work. Look forward to read more from you in the future.If interested in link exchange please contact me.
It would have been good if the article carried some more info on Property Equity Credit Line (PECL). What about interest or rates charged for the services? The Property Equity Credit Line (PECL) sounds very convenient, will the repayment procedures remain the same or it depends on the type of project? It is not easy to procure a loan especially if we do not know which road to take? We have budding entrepreneurs looking for loans and it would be good if Property Equity Credit Line (PECL) can help in any way.
Los Angeles homes for sale
I found your blog on google and read a few of your other posts. Keep up the good work. Look forward to read more from you in nfl premier jerseys the future.If interested in link exchange please contact me.
Dallas Cowboys premier jerseys
Our PECL is collateralized by deposits, real estate, selected blue chip shares of stocks, selected club shares and/or AMTG investment products. Mr. Catindig may call me up for further details. Regards to you and Happy New Year! Tony Abad BPI Note from Salve: Mr. Catindig, please email me at lightdream (at) gmail (dot) com for Mr. Catindig’s telephone number. Good luck!
Categories: Financing your business
Best regards, Alex, CEO of youtube video downloader
Thanks for the tips, maybe I can use this through my social marketing and I've been use some social media in getting a traffic and they have really a big benefit on me.
nexon cards online
Once the PECL of the borrower is approved by our Credit Committee, we provide him with a PECL checkbook consisting of 50 leaves instead of giving him promissory notes to sign.
Best regards, Katya, CEO of burning software download, windows iscsi initiator download
I thought it was going to be some boring old post, but it really compensated for my time. I will post a link to this page on my blog. I am sure my visitors will find that very useful.wow gamecard code
An other option would be getting a reverse mortgage (the payment stream is “reversed.”). Instead of making monthly payments to a lender, as with a regular mortgage, a lender makes payments to you.The money can be used for anything, whether its to supplement retirement income to cover daily living expenses, repair or modify your home, pay for health care, pay off existing debts, buy a new car or take a "dream" vacation, cover property taxes, and prevent foreclosure.I bought my second house and took out a fixed-rate Arkansas reverse mortgage at the same time, incurring only one set of settlement costs.There are lots of possibilities.
So far, we have been living in a spacious affordable apartment contracted through Toronto Rentals, but it`s high time to made an investment and moved to our own house. I have serious concerns about a future mortgage, though. I would like to go for one that covers my monthly payment for at least a while, with all due recalculation after, in case of serious disease and incapacity to bring income.
I totally agree that the primordial investment in a person`s life is buying an apartment. It is the greatest achievement one can place his financial resources in. I agree with loaning, since few of us are able to pay it entirely at achieving the property. Yet, loans are financial services and as any other financial service, there are ups and downs for the client. Make sure you get advice for a lawyer before signing for a loan.