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News and Events

Filipino Kids Have Put Away P30 Billion in Their Savings Accounts

Bangko Sentral ng Pilipinas is counting on kiddie savings accounts to augment low savings rates

When you ask a typical Filipino parent how she teaches her kids about money, she will likely say she takes her son or daughter to the bank to open a kiddie savings account. That is an excellent start.According to a report by Bloomberg, the ...

by Rachel Perez for  | March 27, 2018 12:00:00
Startup Tips

Want to Save But Lack Money? Here's a List of Bank Accounts That Require Initial Deposits of Php500 or Less

9 of the country’s 20 largest commercial banks by assets offer easy-on-the-pocket savings account products

A survey by the Bangko Sentral ng Pilipinas in 2014 found that 86 percent of Filipino households do not own a bank account. The main reason? They don’t have enough money to open one.Some of the country’s largest banks are trying to ...

by Pauline Macaraeg  | December 19, 2017 11:00:00
News and Events

How Much is the Typical Filipino Depositor's Bank Balance?

Almost two-thirds of families with bank accounts keep a deposit of only Php10,000 or less

If the average balance in your deposit account is only Php5,000 or less, you’re actually in good company. Almost half of the country’s households with bank accounts have only that much in deposits, according to the Bangko Sentral ng Pilipinas (BSP)’s latest ...

by Entrepreneur Staff  | May 29, 2017 10:00:00
Startup Tips

5 easy steps to save money

Even in the face of rising expenses, a sum put away every month can take you a long way.

Have you checked your personal finance lately? Some people find it hard to save for various reasons: insufficient income, rising household and business expenses, too many credit card bills, or too little time to check available investment plans in the market.  But ...

by Henry Ong and Henry Ong  | May 22, 2015 07:00:00
Startup Tips

5 banks to approach for business loans

Look for funding for your new business idea.

While lending companies and cooperatives are more than willing to lend to good businesses,banks practically live to provide capital for enterprises big and small. Here are five banks you should consider approaching for loans:BDO Banco de Oro has a Small Business Loan ...

by Entrepreneur Staff  | May 14, 2013 09:00:00
Startup Tips

Manage your cash flow

Tracking your cash flow can help you gauge the health of your business.

Have you ever wondered why you sometimes can’t find your profits in your bank account? Your business could be doing great and reporting huge net monthly incomes, but when you check your cash balance, you are perhaps often at a loss where ...

by Henry Ong  | February 04, 2013 02:00:00
Business Ideas

10 ways to get business capital from the bank

Learn how to impress your lender.

One of the greatest problems that entrepreneurs encounter is the lack of funding. While most would use their savings or sell some assets to help finance their business, as a business grows, business expenses often outstrip the entrepreneur’s ability to independently finance ...

by Kendrick S. Go  | October 16, 2012 01:00:00
Startup Tips

Stave off bankruptcy

Are you struggling with your cash flow? Has your bank refused to lend you any more money? Your answers to these questions will help you determine if your company is headed for bankruptcy.

Are you struggling with your cash flow? Has your bank refused to lend you any more money? Are your partners or shareholders no longer willing to infuse fresh capital into your business? Have your vendors stopped extending you credit? Your answers to ...

by Henry C. Ong  | June 11, 2012 03:00:00
Startup Tips

Make thrift banks work for you

What are thrift banks? How can you take advantage of such lenders?

In the Philippine banking system, savings and mortgage banks, private development banks, stock savings and loan associations, and microfinance banks all fall under one category—thrift banks. They’re just smaller than commercial and universal banks (some actually own thrift banks) but a little ...

by Jimbo Owen B. Gulle  | February 23, 2012 10:00:00
Startup Tips

Funding options for the start-up entrepreneur

Which one is safer? Which one is best?

Entrepreneurs are known for going all the way to turn their business ideas into reality, but they are bound to lose momentum if they don’t have the money to bring those ideas into reality.Some entrepreneurs therefore eagerly look for angel investors like ...

by Entrepreneur Staff  | September 19, 2011 07:00:00
Startup Tips

The basics of getting credit to start your business

One of the problems commonly faced by start-up entrepreneurs is looking for funds

One of the problems commonly faced by start-up entrepreneurs is looking for funds to either open or expand their business. The idea and the motivation are there but only the money to make it happen is lacking. Entrepreneurs can opt to borrow ...

by Entrepreneur Staff  | September 07, 2011 09:00:00