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Author Topic: Is there a financial institution that supports a start-up Business?  (Read 19704 times)

hershey's

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Re: Is there a financial institution that supports a start-up Business?
« Reply #15 on: November 04, 2006, 09:11:41 pm »
Nag try na po kami sa Planters Bank, BPI SME. Pero nung ina assess po ng manager, baka daw mahirapan kami maka loan kasi wala pa daw po kami 1 year in operation.  kailangan naming funding ay 1.5M-2.0M. Pambili ng mga machines. Ito na rin sana gamitin namin as collateral. The porblem is we do not know kung sino sa gov't agencies micro financing institution ang nag a accept ng  ganitong condition.

Para sa machines kaya siguro hindi kayo puede sa micro loan kasi hanggang 150,000 lang yon.



One thing I've learned looking funds from financing Intstitution, Private man or government, All of them have one common minimum requirement, and that's, your business must be operational for at least one year and profitable. So, talaga palang mahirap mag-loan kung start-up palang ang business. You have to rely na lang sa mga relatives, friends, colleagues and what they call "angel investors", for funding. And a very good business plan is really a must kapag manghihiram tayo ng pera sa mga kakilala natin.


MarSean Software

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Re: Is there a financial institution that supports a start-up Business?
« Reply #16 on: November 05, 2006, 08:06:48 pm »

Hi Hershey's,

Mahirap talagang kumuha ng loans to support a not yet stablished business lalo pa at malaki ang capital required nyo, kung meron man they still require collateral na almost the same value nung capital na gagamitin nyo sa business. Ang alas mo na lang is to look for investors talaga na interested sa business na itatayo nyo or from your own savings. Business Concept and Business Plan are important to attract investors talaga kaya dapat yung pag eexplain mo as in parang operational na yung business at alam mo na lahat ang mangyayari.

hershey's

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Re: Is there a financial institution that supports a start-up Business?
« Reply #17 on: November 06, 2006, 11:03:50 am »
Hi MarSean, I totally agree with you.

Peter Jenning

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Re: Is there a financial institution that supports a start-up Business?
« Reply #18 on: November 06, 2006, 06:57:00 pm »
Is there  a gov't/ private financial institution that really supports a newly established business?
Kasi po,nag inquire na po kami sa Banks, DTI/SBC, etc. pero me mga rquirements po sila na hindi na agad kami pasado. Like, dapat daw ay 1 year ng operating yung bisnes at financial statement. Hindi nga kami maka operate kasi kulang ang funding namin.
 Is there anybody who can help us to create a 12-month projection of sales, cash flow, profit and loss statement para po sa business plan/

Salamat po.

Visit our website: www.aaacbc.com maybe you can find some valuable information you are looking for

PressMan

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Re: Is there a financial institution that supports a start-up Business?
« Reply #19 on: November 08, 2006, 09:13:43 pm »
Maybe you can try getting financing from the equipment vendor.  There are several reasons why this may work. First is that they know where their capital is going, unlike when you borrow from a bank they have no way to make sure their cash would not go to a casino! Second thing is an equipment vendor has far more margin to cushion a possible loss. For example, they may be selling a machine whose direct cost may be just 50 percent of the selling price.  So their potential loss is only 50 percent while their potential profit excluding interest is 100 percent!  Compare that to the banker's potential loss and gain.  :)

hershey's

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Re: Is there a financial institution that supports a start-up Business?
« Reply #20 on: November 08, 2006, 11:02:39 pm »
Thank you po sa suggestion n'yo. At least nagka-idea po ako, meron po palang ganito. Sige, i-try ko po maghanap ng equipment vendor. :)

Ernesto C del Castillo

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Start-up Money?
« Reply #21 on: November 09, 2006, 04:59:00 am »
YES. Except for the very lucky, Start-up Money from borrowings is almost always not easy to find specially for New Entrepreneurs without the so-called "Track Record" and without the Fixed Asset to pledge as "Loan Security". This is generally true to Banks & to other Financing Institutions in the Philippines whose orientation is to avoid/minimize risks. Hence, the other likely Source-of-Funding would have to be Share Capital contributed by like-minded enterpreneurs.  Business Discussion Forums (like this) could be a good meeting place for "like-minded" entrepreneurs.

Peter Jenning

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Re: Is there a financial institution that supports a start-up Business?
« Reply #22 on: November 17, 2006, 03:02:11 pm »
Is there  a gov't/ private financial institution that really supports a newly established business?
Kasi po,nag inquire na po kami sa Banks, DTI/SBC, etc. pero me mga rquirements po sila na hindi na agad kami pasado. Like, dapat daw ay 1 year ng operating yung bisnes at financial statement. Hindi nga kami maka operate kasi kulang ang funding namin.
 Is there anybody who can help us to create a 12-month projection of sales, cash flow, profit and loss statement para po sa business plan/

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property_consultant

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Re: Is there a financial institution that supports a start-up Business?
« Reply #23 on: July 18, 2007, 12:12:10 pm »
1.5 to 2 million is a lot of money, and it's hard to lend to a start-up business.
Banks would never take the risk. They will always require "track record".

You need to find angel investors who would be willing to lend you money on the basis of believing in your business idea. And of course, your skills.

Angel investors aren't limited to people related to you. They can be strangers who just happened to be looking for other places where they can put their money in and earn bigger.

Of course, you as borrowers would have to have something to borrow against, more than the bright idea you have. This could be chattel, or any stuff you own that has value.

And 1.5 to 2 million being a huge amount, don't expect to get all of it from just one investor. So be open to the idea of finding multiple angel investors. They can lend you smaller amounts wherein their exposure is smaller.

Expect, of course, a bigger interest rate versus banks. This is because of the risk the angel investors would be taking that no financial institution is willing to take.

Now, if you are now starting to look for the angel investors who would lend you the capital you need, just prepare. A good presentation, honesty, and transparency, plus the chattel, would be the ingredients for that sweet YES.

By the way, if you are now starting to source funds, I might be able to help. I am looking for new investments to put my money into. You may email me at hernandezjcd@gmail.com;D

hershey's

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Re: Is there a financial institution that supports a start-up Business?
« Reply #24 on: July 20, 2007, 10:24:01 am »
Hi, Thank you for your interest. Actually it was my sister-in-laws business idea. I'm just helping her to look for some additional funds.The business would be great if there's enough source of funds to buy the equipment. We we're not able to pursue the fabrication because of limited resources, she just continue to do repair and maintenance services. I'm not sure if she's still looking for financial assistance, because the last time we talked, she said she was able to find a partner who already have a machine shop. Anyway sir, thanks for your concern. :)

 

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