Small Lending Business

[jmeangeL]

sis, you can make up any document that you like.  Just include the following details:

1. Date borrowed
2. Name of borrower & co-maker (guarantor)
3. Address of borrower
4. Contact number of borrower
5. ATM details (collateral information)
6. Amount borrowed
7. Interest rate
8. Loan terms (how many payment)
9. Total amount to be paid at end of loan terms
10. Final date when loan should be paid
11. Signature of borrower & co-maker (guarantor)
12. Signature of witness

But this is not legal unless you have it notarized or your business is registered with the government.
Although, it would still be safe that you have some piece of document that can be used in disputes.

[che78]

thanks sis, [jmangel]

ipa-notarized ko nalang sa barangay hall namin, para kahit papano may formal documents na naka-file for both parties. aba, "better safe than sorry" ika nga, sa hirap ng buhay ngayon dapat manigurado din tayo. God bless us

[kolinetongue]

i just started this pautang business, nainggit lang ako kay hubby kase may pautang na rin sya...

ok naman. sa mga permanent staff ng government agency ako nagpapautang. by the way, collateral yung ATM nila..5% ang interest. ayos!

[stunning_anne]

thanks mga sis.. sa july I will start this kind of business na.. hopefully maging successful kasi sa lahat ng nakilala kong nag business ng ganito, lahat sila naging successful

[Uhlee]

I also read a thread like this one. mukhang interesting talaga ang business na ito aside pa sa mabilis ang ROI, im already thinking of possible clients and contacts para makapagsimula.

thanks very much mga sissies for the infos!

[Uhlee]

Question lang po mga sis, do you have a "release date"? or anytime na may lumapit and you checked na ok sya nagbibigay kayo agad? i was thinking kasi na baka mahirapan ako sa pag monitor if walang fixed date.. please help po.. TIA!

[sKyLeN]

hi sisses..

if anyone interested to loan, you can pm me. i know someone who can help. 

but same goes you need to fill out a form, PDC's if you have, ATM or simply can make an arrangement that will work for you..

 

[babyphat]

gusto ko ring magbiz nito kaso ayaw ni hubby. natatakot raw sya sa karma. e hindi ganon kalaki interest. let's say 5-10% lang.

what if hindi pala nasunod yung terms of payment nio, ganto rin ba singilan nio..
example 10% interest/month. borrowed amount is 10k payable in 2mos.
e since hindi mo nabayaran [textspeak!] 10k plus 2k interest in 2mos, dapat ba 10% pa rin ng kulang mo [textspeak!] magiging interest nia? hindi ba lugi un or masyadong mataas?

1st month 5k + 1k interest
2nd month 3k + 1k interest
3rd month 2k + 200 interest

[kaiz]

Hindi ko talaga to biz pero may umutang sa akin na kakilala. For 20k, the interest is 5% diminishing. I asked na rin for her atm. So nagtetext lang siya pag nakapagdeposit na siya ng payment niya. No hassle na

[jmeangeL]

@babyphat

1st rule! stick to your rules!  if it's monthly interest, then IT'S monthly interest.

for example, BorrowerA borrowed 2k for 1month at 10% monthly interest.

after 15days, he needs to pay you 1100 pesos.  1000 is the principal, 100 is the half-month interest or 5% interest.

on the 30th day, BorrowerA asked that his loan be extended for another month.  what should you do?

1.  ask BorrowerA to pay the half-month interest of 100pesos which is your due.
2.  on the 45th day, BorrowerA should pay you any amount (0-999) for his due.  deduct 100 from this, which is your half-month interest.  the rest is his payment for the principle.
3.  on the 60th day (day of maturity), BorrowerA should pay you the rest of the principle + another 100pesos.

simple lamang, tuwing mag-extend si borrower ng loan date nya, hingan ninyo ng interest.  half month kung every 15days ang hingilan, whole month kung every 30days.  wag ninyo itong ibabawas sa principal.  tubo nyo ito dahil umutang ang tao sa inyo at humingi ng palugit.  pareho lamang ito kung sa una pa lamang ay sinabi na ni BorrowerA na uutang sya ng 2k sa loob ng 2 buwan, 10% monthly interest.

[sachism]

meron ba talagang karma sa biz na to? my cousin is into this, OK naman sya. I think it depends on your intention, ugali and faith?

[jmeangeL]

^---hindi kasi measurable ang karma, so you wouldn't know.  for me, it's only a concept.

if you'll think that every small bad thing that's happening to those who's into this business is bad karma, then i guess, it's true... other than that, i guess it all would depend to many factors

wala pa naman akong bukol sa kili-kili 

[celsky]

^^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... =)

joining!  i love your message, im into atmmoney lending din kasi...would like to ask if me sarili ka bang office, i mean are you registered ba kaya you can tie up with those companies? maganda kasi siya imarket talaga lalo na sa mga BPO industries, yung mga nasa callcenter..

[sachism]

naisip na din namin ni mama na pumasok sa mga companies or mag tie up sa province pero kelangan ata registered ka at madami pang ibang requirements? mas malaki din ang ilalabas mong pera.

pero ngayon, simpleng lending business lang.. nagdecide ako dagdagan ng 100% yung binigay kong puhunan sa mother ko kasi mukhang OK naman ang returns sa kanya. nakaka engganyo talaga.. sana nga talaga magtuloy tuloy

[martiella]

ok ang business na to. yung sa kin naman yung capital ko after a year nag doble na sya.

[celsky]

sachism

good luck!

[catherine ann]

Dapat sa business na lending hindi ka makikipagkaibigan sa mga pinauutang mo kasi pag matagal na mas bolder na sila magrequest sa iyo at pag di napagbigyan ay magagalit pa. Kung gusto mong maraming kaaway magpautang ka.

[sachism]

^yan din dahilan ko kaya kay mama ko na pinapaubaya ang lahat...

[celsky]

Hi girls, been with atm money lending business since 2007 and I would like to share lang din.

1. before kayo magpahiram, be sure na malinaw sa kausap niyo ang terms/rules niyo.

2. ask to surrender their atm, at magpa sign kayo ng waiver, nakalagay na doon ang mode of payment.

3. huwag na huwag kayo magpaka kampante na nasa inyo na ang atm at waiver eh okey na, you also have to ask around sa background ng taong pinapautang niyo. if kaya ng powers niyo, tingnan ang company id. baka di pa regular sa work yan.

4. never kayo na maging close sa mga taong pinapautang niyo, para di ka maabuso. maintain the borrower-lender relationship.

5. stick to your rules, kayo dapat ang masusunod, hindi sila.

6. be ready, kasi stressful ang business na ito. you will listen to their problems, but huwag niyo careerin ika nga!

7. use the add-on method sa pag papautang. huwag kayong papayag na interest lang ang babayaran, dapat interest+principal, para mabilis niyo mabawi ang pera at madaling mapa ikot.

8. if super risk taker ka, you can roll over the profits kasama ng principal. but if you want it safe, then pwede mo isave ang profit.

9. always monitor the business. dapat me excel file ka for this, take note sa mga maayos at di maayos magbayad, para di na maka ulit.

10. regarding sa renewal, magpa renew lang kayo once patapos na siya magbayad. as in last payment na talaga.

11. if more than 100k na ang pera niyo, look for legal investment priorities, like mutual funds or stocks, ask around sa mga banks. para me safe investment kayo, aside sa lending. 

[Uhlee]

^ thanks very much sis for sharing!