This article is too important to miss for those who are planning on starting a business or thinking of expanding an existing one. But don't forget, this is still in the works:
MANILA, Philippines -- President Gloria Macapagal-Arroyo has ordered a study on the feasibility of cutting interest rates on government loans to micro, small and medium-scale enterprises (MSMEs), an official said Thursday. Presidential Management Staff Cerge Remonde said that he had asked officials involved in lending to MSMEs to do the study after the President issued the directive. “Only last week I was telling them to find ways and means to bring down further the interest rates that we can charge so that really this can be more attractive to people,” Remonde told reporters at a news briefing. Remonde, who is the oversight official for MSME development, said President Arroyo issued the directive because of “her desire to have the program reach and help more people.” Government financial institutions in a program called SME Unified Lending Opportunities for National Growth charge interest of 9.0 to 12.0 percent per annum, said Benel Lagua, president of the government’s Small Business Guarantee and Finance Corp. Loans to micro-enterprises carry 10-12 percent, said Edgar Genoroso, president of the government’s People’s Credit and Finance Corp. Micro-enterprises usually borrow P5,000 to P10,000 but can go as high as P50,000. Small and medium-scale enterprises (SMEs) borrow P200,000 to P5 million. Lagua said his office was trying to negotiate with the Department of Finance to cut its cost of money. “Once we are able to do that, we will pass it on to our SME borrowers,” he said. Genoroso said his office had to consider “our cost of funds.” Edited by INQUIRER.net
hi, ive been planning to put up my own business and i think its time that ive come up and decide to materialize it. how can i avail this business loan and what are the requirements? thank you so much. more power.
I want to avail of a loan to augment my capital for the school canteen I am running
i wonder if there is any instant soft-loan low-interest programs for the OFWs...any idea?
if there is, what are the requirements and how long is the processing time before we could avail of one?
We are small bangus growers in Mindanao using fishpen. Our problem is to have a consistent local market and probably export market for our harvest. Can our government do something to help us find good market here and abroad? Otherwise, we can not stay long because of increasing cost of bangus feeds.
If I have the money to lend to those who are planning to start business (up to 100thou) and can provide enough proof that they have enough preparation for what they want to do, how would I be able to reach out to these people?
If the government is giving them a 10 to 12 interest, I am willing to give them 9 to 11... Probably I'll just require them to provide post-dated checks that I can cash out every month for their payment.
If anyone knows, please reply.
Hello, I am Reynaldo S. Orbon and I am presently employed here in Saudi Arabia. I will be leaving shortly this country and will be staying in the Phils. for good. I have already decided that I will go to business once I come home and the business that I will be venturing will be in food business (restaurant and in the food canning business). My end of service award will not be that big so I would be needing a loan to add up to my projected capital.
I would like to meet or address this mail to Mr. Cris, your responder No. 5 (letter dated 13 Feb). I am interested to correspond with him. I am also interested to know of any organization that are giving soft loans/clean loans to people who are just start-ups in their businesses. Thank you.
Reynaldo S. Orbon
Mr. Chris,
I do have a business plan. How can i make communication for this proposal then? Im a OFW. I do have PDC.
Thanks.
Agnes
I've been planning to put up my own business, how can i can i avail this business loan and knowing all the requirements and how to meet the people in charge for this project?
Dear Chris,
I have a business concept but requires a financial capital. I hope the PDC and please let me know if you could help me.
Thanks:)
To the moderator, kindly give my contact email address to Reynaldo Osborn and Agnes.
Mr. cris,I have a business plan, how can I get in touch with you?
How can we avail on the business loan?
To moderator, could you also please give Des and Phomer my contact email address. I don't want my email flooded with unwanted ads in case I post it here.
I am working outside of the Philippines at the moment but will be back in March for a month's vacation. I can spare some time to talk with you guys if you could send me a copy of your business plans so I can have a look at it before we meet.
@ Cris, will do as you requested. Thanks.
To those who have business plans for Cris' perusal, I will be sending his email address to you by email. Regards
hi, how to avail?
thanks.
Hi!
Can I also ask about the details... Please email me.
Thanks!
Mark Salazar
Hi!
pls send me the details... my email add is salazarmark@gmail.com
thanks!
Hi! Salve,
Kindly send to me the cris email so that I can fully discuss to him my buisness plan....
How to avail the government loan and who will be the contact person? Thanx
dear friends,
iam planning of establishing a food related business, i dont know where government agency to go to so that i could avail loans. please send me the informations i need.
thank you!!!
Any update on this? Is the program already working? How can we avail?
Hi! I'd like to ask how we could avail of a loan for a business that we're planning to start up. For several months now, I've been looking for funding for a call center that I have been looking to set up. If there are people here who'd want to partner up with me for funding or who knows of any way to get funding for this venture of mine, please do email me: PAULCSQA@aol.com. I have the business plan and the revenue projections ready.
Hope to hear from people soon.
Pls. send me information how can i avail of the loan
Please let me know how we can avail of this loan. Thanks.
Small Business Guarantee & Finance Corp. (now Small Business Corp.) address is 17F 139 Corporate Center, Valero St., Salcedo Village, Makati. Tel# is 751-1888. Ask for the account officer for the day or check out www.sbgfc.org.ph for requirements.
People's Credit & Finance Corp office is at Buendia (Sen. G. Puyat Ave.) near EDSA also in Makati.
Our small enterprise company in cooperation with the Department of Science and Technology-PCIERD-ITDI has been working to commercialize production of a new and award winning technology: Direct carbonization-activation of producing high quality ACTIVATED CARBON.
We applied for a loan in a bank owned by the government. We submitted Voluminous documents. The time frame of processing has caused us to update again some required figures. Upon updating, a new requirement came up. Again, the time of processing caused to make the documents to be updated again.
The windows we are applying is a loan for a new technology which the bank is mandated to support. And the livelihood it will generate to countryside development is clearly spelled out in the proposal. The market is defined, the financial statements are there.
Prior to this, we applied for a loan at another government lending institution involved for the development of coconut industry and is mandated to support this kind of technology and promotion of technology that will convert coconut products into cash. Worst, the people concerned lost our vital documents. And it took us more than a year to apply: the result our loan is disapproved.
I hope this Small Business Guarantee and Finance Corp is different from the two government controlled financing corporations. Full of red tapes and inefficient. It was a very frustrating attempt.
For those SMEs who plan to avail business loans from the Small Business Corporation please visit their website for at www.sbgfc.org.ph so you can have an idea of the different loan packages being offered.
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Hello, maybe this is off topic but in any case, i've been browsing around your site and it looks very cool. It is obvious that you know your topic and you are passionate about it. I am making a new blog and I am struggling to make it look good, and provide top quality material. I have learned a great deal here and I look forward to more articles and will be returning.
Hi,
Good day!
I was browsing the net looking for a best loan facility or someone who could offer loans or private financing and I came across with your blog.
Upon reading, I found out that there is one person named "cris" who wants to help those people to get a loan for their planned business.
By the way, I am a businessman who owns a food business and I am planning to expand my business but I lacked sufficient capital for the expansion. So, I would like to request from you, to please send me the email address of Mr. Cris, because I want to contact him. Maybe he would be able to help me for the expansion of my business.
I really find hard to get a loan with banks or other financing institution since it requires a lot of requirements and it takes how many days or even month before it will finally processed.
I hope you will response to me in this matter. Thank you very much and God bless!
Hi once again!
I forgot to put my email address..Please send me his email address at entrepreneur_guy21@yahoo.com.ph
I will wait for you response.
Thank you very much!
Your blog is of a great help!
God bless!
i wonder if there is any instant soft-loan low-interest programs for the OFWs...any idea?
if there is, what are the requirements and how long is the processing time before we could avail of one?
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Only last week I was telling them to find ways and means to bring down further the interest rates that we can charge so that really this can be more attractive to people
Best regards, Alex, CEO of youtube downloader
If I have the money to lend to those who are planning to start business (up to 100thou) and can provide enough proof that they have enough preparation for what they want to do, how would I be able to reach out to these people?
Best regards, Katya, CEO of dvd player burner, iscsi protokoll
This makes a lot of sense since small businesses can definitely do with such incentives in order to stay long enough in the market to pay off interests and make some headway. Another good option is to increase taxation for larger corporations so as to implement a suspended interest-free period for these SMEs.
Regards,
Dougie
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This makes a lot of sense since small businesses can definitely do with such incentives in order to stay long enough in the market to pay off interests and make some headway. Another good option is to increase taxation for larger corporations so as to implement a suspended interest-free period for these SMEs.
Regards,
Dougie
Promotional Products
This makes a lot of sense since small businesses can definitely do with such incentives in order to stay long enough in the market to pay off interests and make some headway. Another good option is to increase taxation for larger corporations so as to implement a suspended interest-free period for these SMEs.
Regards,
Dougie
Promotional Products
On every single obstacle or dilemma you might face in your business, best thing to do is to contact some sort of business coaching Tucson service and ask for professional advice. In this case, you might want to hear the opinion of an expert that can advise you on the amount of money you should loan, the optimal period of time the loan should extend to. You surely don`t want the loan to possibly affect your basic production bugdet.
Let`s say I contract a small loan for my payment. I am interested if there are paying options for my loan similar to the sightline payments available for clients in the gaming industry. And beyond being able to pay my monthly current loan sum of money online, thorough internet banking, do I still get any other facilities?