loans

President Duterte signs law that expands loan security beyond land, houses and other real estate

President Rodrigo Duterte signed into law Republic Act (R.A.) 11057, known as the Personal Property Security Act, last August 17. This allows “movable assets,” or personal properties such as vehicles, inventory and equipment, to be used as collateral when applying for bank ...

Almost half of borrowers needed the extra money for daily needs while almost a third used it for business

Perhaps it’s because of the improving economy, rising household incomes or fewer borrowing options in light of the government’s crackdown on informal lending schemes.Whatever the reason, the proportion of Filipino adults with outstanding loans more than halved from 2015 to 2017, according ...

Offers NegosyoKo Loans worth from Php25,000 to Php300,000

Bank of the Philippine Islands (BPI), the country’s third largest bank by assets, launched the BPI Direct BanKo, Inc., its micro finance bank unit that aims to cater to the underserved sector of self-employed micro entrepreneurs (SEMEs) today, July 25.“Many of these ...

DTI rolls out affordable lending program that aims to replace costly ”?"5-6” schemes

The Department of Trade and Industry (DTI) has announced that the Pondo sa Pagbabago at Pag Asenso or P3 program, a lending program aimed at providing affordable funds to micro entrepreneurs, is now available nationwide. The government agency published advertisements in several ...

A 2003 academic paper found that Filipinos, not just Indians, were also major providers of the costly loans

When President Rodrigo Duterte railed this week against "five-six" loans, he also ordered the arrest, even without a court warrant, of Indian nationals engaging in the high-cost lending scheme.The loans entail the payment of six pesos for every five pesos lent out ...

First Circle wants to revolutionize lending to SMEs by taking the entire process online

The executives of First Circle. From left: Tony Ennis, CTO; Patrick Lynch, President and CEO; Timothy Glynn, CFOWhat does it take for small and medium enterprises (SMEs) to apply for a loan?Traditionally, the process takes hours of filing paperwork and around a ...

Whether 2016 was rough or a banner year, there’s lots you can do now to make next year better

As 2016 winds down, it’s time to start planning for 2017. For business owners, this means getting financially prepared for the new year by following 25 ways in order to keep your business up-and-running for the long haul. 1. Revisit your business plan.If ...

GoBear prides itself for easy navigation and reasonable rates

A tech startup from Singapore which claims to be “Asia's first and only metasearch engine for insurance and banking services” is now offering Filipinos a platform to easily compare different financial products such as insurance, credit cards and loans right from their computers ...

Consider these 7 options and get started with a clean slate

It’s always a good time to start paring down your debt even before the financial troubles come knocking.Victoria Españo, CEO and chairperson of auditing firm Punongbayan & Araullo, says many Filipinos misunderstand bankruptcy, thinking of it as something so extremely negative as ...

It is always important that you balance practicality and passion.

 One of the most important things when getting a franchise is that you should find a unique concept and product that you love. Whether it is a service you have tried, a restaurant you ate in or a shop you have shopped ...

With an affiliate thrift bank, PERA HUB outlets can now provide access to services like DepEd salary and GSIS pension loan programs.

MANILA, Philippines – Following the acquisition of the Aboitiz Equity Ventures (AEV) in mid-2015, PETNET is set to grow its services beyond remittances as it launched one-stop shop payment center, PERA HUB.“PERA HUB will serve as the vital channel through which AEV ...

Plus, Monetary Board keeps interest rates steady and S&P warns PH on higher loans.

Duterte’s economic visionPresumptive President-elect Rodrigo Duterte’s transition team member Carlos Dominguez bared the incoming administration’s economic plan in a televised press conference on May 12, Thursday.“We will continue and maintain the country’s macroeconomic policy,” Dominguez said.The former cabinet member of Presidents Corazon ...

It all depends on how you see your business will perform in the future.

Q: I have startup coffee shop that is doing well. I’m planning to expand by adding another branch this year. Recently, I have found a property that can be a good site for my expansion. The landlord told me that I can offer ...