Small Lending Business

[angel_eyes_2nite]

My SIL and I have started a small lending business. We have started lending for personal loan with a small call center in Makati. We are scouting for other outlets pa. Do you have any suggestions like company or office which we can tap to have the lending offered to? We'll do the basic feasibility studies kung ok ba yung company so don't hesitate to suggest whichever company...

Post away mga sis 
TIA!

[betty]

yung compay ang tinitignan nyo?  hindi yung mag umuutang mismo?

[angel_eyes_2nite]

^one factor lang po yun sis. Syempre bigger weight sa borrower pa rin.
Just going to check the company kasi the stability of the company is a big part of the equation. Sa kanila pa rin naman galing ang income ng borrower diba? So a stable company entails a stable job thus a stable income. At the same time,set up is we talk to h.r. para aware sila of existing loan. Kumbaga we'll ask their assistance din for the borrower profiling.

[betty]

pero not all borrower are good payers,even ig ok ang sweldo.

[kaiz]

^agree. minsan mas ok pa yung may mas maliliit na sweldo kasi talagang nagbabayad on time

[aquacharly]

A good approach really is if you can have some tie up with the cashier or accounting dept so that kahit na hindi salary deduction eh somebody there is keeping tabs for you .. lalo na pag nag resign, at least may habol sa terminal pay.

Nail down the legalities of this, so the employee will not make palag palag with his payroll dept pag pwersado na ang deduction.  Also,  hehe   give a commission to your inside collector.

[angel_eyes_2nite]

^^I really aprreciate gals all your feedbacks.
Don't worry so far we are doing well with the first batch of release. Almost halfway na sila on their payment schedule. At the same time,when we do a borrower profiling we also do a payout/risk ratio naman.

And I can understand where you are coming from. Sobrang takot din kaya kami na di mag ROI. Still, no pain no gain...if no one will risk to enter the business because the economy is not in the best position right now pano na lang ang balance of things diba? At the same time, when you enter this industry lagi mo nang i-take into account yung possibility of bad debts. Pero syempre there is a threshold lang naman. So whenever it seems that you are about to reach that level,step back a little and check what you're doing wrong. Reassess, regroup and attack with a new battle plan. hehe... Hopefully di naman aabot sa ganung point. Bad din to foresee  or to dwell on negativity...dapat look forward to success....not to distress... =)

[angel_eyes_2nite]

^Thanks sis aquacharly...yan nga po existing set up namin with the current company.

[betty]

maige yung ganun na alam ng payroll officer atleast di ka kakaba kaba..good luck on your new venture. btw, do you ask for their atm? kasi yung sakin hindi na.

[angel_eyes_2nite]

^sis di na po. Big na ba coverage mo?

[betty]

i have two kasi, yung isa pang employee then yung isa pangmalakihan loan.  mas madami yung employees, yung sa mga small loan.

nahihirapan ako sa big loan ko maningil. although less than 5 lang sila, still hirap bawiin yung principal.

[angel_eyes_2nite]

^That's why we decided to lend sa employees muna. Test the industry kumbaga.

[betty]

wish natin maging maganda pa ang ating negosyo.

[angel_eyes_2nite]

^Amen to that. =)

[jmeangeL]

you'll always have ROI in lending... I'm into this business, I started at a capital of only 15k which is now 90k

i more than quadrupled my money in only a year! what I'm doing is re-investing all gains as capital

the risk is high, but every investment has a risk... you just need to know them and play your position well

try getting in touch with a person in SM... next thing you know almost everyone in there has a loan on you

[betty]

sis how is your mode of payment? kasama na interest at principal or interest lang?

[jmeangeL]

principal + interest!

that's the best! but of course partial, just like when you borrow from banks.
you pay the monthly amortization.

if the person can't pay, then he/she must pay at least the incurred interest.

hindi na ako nagbibigay ng penalty... hindi naman ako banko

[betty]

so merong definite period of loan lang?

[honnie]

you'll always have ROI in lending... I'm into this business, I started at a capital of only 15k which is now 90k

sis how much the interest  na ibinibigay mo per month (%)?

[jmeangeL]

@bettie
yes, there should be a definite time period
1month ba or 2 months or 5months
the borrower can extend the time period, but this would give additional interest

@honnie
hindi naman ako 5-6 na sobrang taas sumingil
we give at 6% monthly interest
higher than banks, but is more flexible
most of our clients are employees

you won't lend to people with no permanent jobs
that's suicide!