4 popular business ideas for every OFWs nowadays

Overseas Filipino Workers (OFWs) who want a better future decide to leave their families temporarily and work abroad. Most of them dream of starting their own business that will serve as an additional income-generating source. One way to fast-track this dream is to secure an OFW loan for Filipinos. This type of loan is able to assist numerous families of OFWs in putting up their business ventures.

Popular Food Business Ideas for OFWs

  1. Sari-Sari Store or Mini- Grocery

sari sari store

This is the simplest and easiest business to set up. A simple Sari-Sari store requires a minimal amount of investment especially if you use an unused area of your home and the family members are working together. The capital investment will be higher if you are going to rent a space or construct your own store. Projected starting capital is between P50k to P100k.

  1. Food Cart Business

food cart business

Filipinos love food especially all-time favorite fishball, kwek-kwek, fries, burgers, pizza, siomai and a lot more. These foods are found in almost every corner of the neighborhood, malls, parking lots, university belt areas, MRT stations and other crowded places. The capital investment to franchise a food cart business starts at P25k up to P300k. If you do not have enough money, get help from borrowing an OFW loan thru a fast cash loan provider in the Philippines.

  1. Franchise a Restaurant

restaurant

A restaurant franchise of a known brand assures the potential return of investment and profit. The money you invest will grow fast because you are not on your own.

You are guided by an established food brand, business concept, fixed system and expertise of people handling the business. The cost of investment for a restaurant franchise is from P300k above.

  1. Open your own restaurant, café or bar

coffee shop

Opening your own food joint is another option. This is the best if you want people to patronize your specialty dish or beverage. Although the risk is higher, the prospect of offering something new to people is a great motivator to venture in this type of business. The investment capital starts as low as P100k to P300k.

Investing your hard-earned money in the food business industry is a step towards more financial independence. You can start it while you are abroad and become your main source of income when you decide to come home. Start saving for your dream business and when you need financial assistance to make it come true, allow OFW loan to help you achieve it.

Where to borrow cash and loans for your daily lifestyles

Money is a tool to live life with comfort. This is why people work hard. They want to have a roof over their heads, foods, education and other material needs. Lack of money directly affects living conditions and lifestyles.

Without an emergency fund or savings when unforeseen events happen, chances are, you resort to borrowing cash. Cash loans have become popular due to life’s necessities.

So, where do you borrow cash?

  • Family, Relatives & Friends

They are the closest to you and will not hesitate to help you. They do not require documents or background check, only your assurance to return their money within a specific period.

However, there are times that they will deny your request which can cause resentment and disappointment. Like you, they also have bills to pay and other monetary concerns.

Refrain from borrowing often to save harmonious relationships. Money matters can damage good ones.

  • Private Lending Companies

This could be a reliable private legal money lender who offers non-collateral or collateral loans to individuals who need quick cash. They have simpler requirements which make borrowing not very stressful. They even tolerate not submitting certain documents that you do not have in your possession. Their approval time is faster compared to banks so you can get your money quickly.

Be sure to pay the monthly installment on time to avoid penalty. Missed payments will affect your good credit standing and credit history.

  • Banks

Banks offer different types of a loan if you need cash, however, you need to submit lots of documents to qualify.  They need proof that you have the capacity to pay and worthy of credit. There is always a possibility of being rejected.

  • Online Cash Lenders

They offer instant cash for borrowers. Online This type of fast yet easy cash loan is making a rapid stride in the lending industry all over the world. Best reviewed licensed moneylenders online are similar to private lenders but do transactions using the internet.

Getting information is easy because their websites contain all essential details and steps to apply for a cash loan.

Once approved, you get your money within the day or the next banking day. It is convenient too, especially for busy individuals who do not have time to go to the lending office to sign documents.

Before applying for an online cash loan, make sure that the lender is legitimate and has a good track record. Beware of some lenders who take advantage of people who are in dire need of money.

Borrowing is an easy way out from immediate needs, but the best way to prepare for emergencies is to save. If there is no other option, then choose the least stressful type of lender to finance your needs.

Top 4 Investment Ideas for Small Investors

Investors are always on the lookout for good investment ideas, although it can be difficult for small investors to determine where they should invest their money. The best investments are those that have the lowest risk and that offer some sort of guarantee on return.

Nearly all investments carry some sort of risk with them, and when investing money, there is no real way to be sure that you will get the return that you are looking for. You can even lose money. Nonetheless, here are some good investment ideas that small investors should consider.

  • Real Estate.

The real estate market right now is still in a slump, but most experts agree – now is the time to buy. This is true for those who are looking to make the move into homeownership and true for folks who want to invest in real estate. With a large inventory of homes on the market, there is no shortage of investment opportunities. Look for short sales, foreclosures and other so-called “distressed” properties to maximize your opportunity for a return. Keep in mind that real estate investments may take a while to become profitable, but once the market is on the move again, you stand to make some good money.

  • Stocks.

Any list of good investment ideas would be remiss if it failed to mention stocks as a viable option for investors of all sizes. The stock market is nothing if not volatile, but stocks are still a good way to invest your money. Buying into stocks is affordable for everyone, and stocks allow you to diversify your investments.

  • T-Bonds.

Government bonds are usually thought to be one of the best and safest investments since they are backed by the full faith and credit of the government. Keep in mind that t-bonds have maturity rates of seven years or longer and usually offer a return of at least five percent. Treasury bonds are basically the government’s way of borrowing money from consumers and paying them interest for doing so.

  • Deposit Accounts.

Good investment ideas do not have to be risky. For the small investor who does not want to risk his investment dollars on any investment that may not pay off, there is always the bank deposit account. Savings accounts and certificates of deposit can be great for those who just want a safe place to invest their money while collecting a token amount of interest income.

Simple Tips to Manage Your Debt

A lot of people are struggling under the burden of debt and having problems bringing order in their finances. Arguments between spouses increase, as do stress levels. Often, they may feel they are on a treadmill, barely maintaining their current positions but making no progress at all.

If this sounds familiar to you, you might find it interesting that there is a way to apply common sense to your situation and bring both your debt and your personal finances under control. It’s a not a quick fix and it will not be totally pain-free, but it will work where other personal finance plans fail.  Just simply put, it is the idea of not spending more than you earn.

You may not like the idea of living within your means, but that may be because you do not truly understand how it relates to personal finance. It is not avoiding all debt, nor does it mean giving up everything you love. It does not mean you must wear rags, go cheap on food, or never taste wine again. What it does mean is that you take control of your personal finances and debt.

The first thing you need to do to take control of your personal finances is to establish a budget. List all your normal expenses and how much you spend monthly on them. If you are like most people when they first tackle their personal finances, there are going to be some things you do not know. It is not uncommon for many people to have no clue how much groceries cost each month, for example, or how much is spent on clothing.

It may be necessary for you to track your expenses for a few weeks to get a good handle on your personal finances. In the meantime, start with fixed costs, such as your mortgage or car payments, and include your best estimate for flexible expenses. You can always adjust these next month.

Include a line item in your budget for savings, something that is often neglected in money plans. Set some target percentage to save, over a period, gradually increase the percent going into savings. Savings accounts, when reserved for true emergencies, are an important part of personal financial security. They mean you do not need to pull out a charge card if the hot water heater breaks or your car needs a repair. This, in turn, means that you are not increasing your debt load.

Finally get the support of all family members if you need to bring your personal finances or debt load under control. Each individual needs to consider what is most important-a college education or designer jeans? Keeping your home after retirement or going out for a steak dinner every week? With just a little cooperation, you can make drastic improvements to your personal finances and reduce your debts substantially.

How to Make Your Money Work For You

To become successful with your money, you must make your money work for you. You sell your labor which in return makes you money. By making each individual dollar work for you, this in return makes you wealthy over time. There are a lot of investment opportunities out there. The key is to figure out which one is the right one for your financial situation.

The most popular of all investment opportunities are stocks. Stocks are probably the main thing you think of when you hear of investing. When you buy a stock, you buy partial ownership of a company. To be successful when trading stocks, you must buy low and sell high. Of course, this isn’t easy, considering the market is always fluctuating. You can make a lot of money investing in stocks, which means you can also lose a lot of money. You want to keep in mind that most investments in stocks are long-term investments. It is a very risky investment, but if you do the proper research on the history of the company, you can get a very good return.

When you are investing in stocks, you want to make sure you aren’t expecting to become Warren Buffet overnight. It just won’t happen. You want to make sure you do the proper amount of research and make sure you know the history of the market as well as the company you are investing in. Make sure you know how long you are keeping an investment, and then make a commitment. This will help you focus on the principles.

Don’t get caught up in what everyone is talking about and what is being said around you. It will take your decision from being based on research and history, to just “hear-say”. This will hurt your investments immensely. Most of the hype and other things that are being said are just the daily fluctuation of the market.

 

You want to make sure you are putting all your effort and focus into your investments. Once you buy a stock, you own part of a company. Make sure you treat it the way it is and make sure you do the proper research of all aspects of what you’re investing in. Doing your research can change your investment of making a profit of $15,000, to losing $15,000. In the end, it’s always worth it to do the extra work.

Top 3 Advantages of Local Credit Unions

When it comes to lending, the bank is still the authority that can offer loans to everyone. All of the bank’s loans and BPI credit cards are sanctioned and well-regulated, creating a somewhat stringent process. One of the reasons why banks are strict is risk management. If they just give out loans freely, they will be at greater financial risk. In turn, many borrowers are still reluctant to approach Metrobankdirect whenever they need loans. Fortunately, there’s an alternative: credit unions.

Credit unions are small organizations that can also offer loans to people. They are managed by their own members, making adjustments through a fair voting system. It’s a system run by the people. If you want to take out a loan but you can’t bear the strictness of banks, you should try approaching a credit union. There are many advantages, to begin with.

Easy Transaction Process 

Unlike banks, credit unions allow easy transaction processes. In most cases, you only need to fill up a form and wait for a representative to interview you. The interview is simple – you just need to answer the basic questions of the interviewer, such as the purpose of the loan and your income source. Most credit unions also require few government documents. If a credit union allows online applications, the process can even be much faster.

Smaller Rates and Fees

Banks are known for their large fees and penalties. These fees cover up their risk, and they tend to make huge profits according to the payment terms. Credit unions have smaller rates and fees. A typical loan will clock at around 10-15% interest per month. Other unions can have slightly bigger or smaller rates. Even though the rates are manageable, you can only choose from a few loan programs. Sometimes, credit unions can offer only one type of loan. This pales in comparison to the multiple loan types that banks can offer.

Simple Background Check 

Local credit unions have credit checks, though they’re not as extensive as the processes of banks. For the credit check, the credit union will just review your document and income proofs. Afterward, your loan can be released. If you live in a rural area, the credit union can ask your friends regarding your status and life situation. Any detail they find can be used to assess if you’re worth the risk. Since rural areas tend to be smaller, credit unions can get the information they need in lesser time.

Credit unions still have their share of disadvantages. Since they are not big-time lenders, they can only offer basic loans. There are no fancy variants or other perks. If this is okay for you, approach a credit union today and file your application.

The Top 3 Best Loan Options for Millennials

Without a doubt, millennials have changed the world in many ways. While the older generations continuously refute the ways of millennials, dozens of experts are seeing the strengths of the new generation.

Millennials, for example, achieve many feats in business because they’re bold, aggressive, and more than willing to challenge societal norms. The international lending industry has even extended its full support for millennials. This simply means that millennials who want to expand their purchasing power and financial leverage can now do so with the help of different loans.

Are you looking for the best loan options for millennials? You can start with these suggestions:

Low-Interest Personal Loans

Many personal loans in Singapore are issued by banks and financial organizations because they’re highly popular with the masses. Personal loans vary in rates, total amount, repayment terms, and other important factors. If you’re a millennial, you can realize the potential of a low-interest personal loan.

This type of loan can be used to purchase the things you want or secure supplies for your side hustle. Just be careful in hunting for these kinds of loans. Make sure that the interest rates are balanced with the repayment term. You should also look for reviews about the personal loan lender.

Small Business Loans

The concept of small business loans Singapore has changed. Lenders are offering small business loans to a wide range of clientele, somehow lowering the difficulty rate. Today, there are even special types of small business loans marketed to millennials.

While you still need to submit many government documents and certification, the hassles are manageable. It all depends on the lender that you’re planning to approach. Keep in mind that small business loans may have longer approval rates compared to other types of loans.

Competitive Auto Loans

Millennials are firm believers of ‘respect through status.’ They believe that people with great status in life can reach far, and they’re somehow right. Status can be measured by having your first car. But it depends on how you acquired it.

A popular option to get your new car is to apply for an auto loan. Through this loan, the lender will finance the purchase of your car. This is better than getting a second-hand car from a shrewd dealership. Millennials are huge supporters of auto loans. In turn, lenders offered many auto loans to millennials. Before applying for an auto loan, you should have a specific car in mind. Next, you should prepare for incoming monthly payments.

Do you think these loans appeal to you? If yes, then you should visit a lending website today and file your application. Keep looking for the best lenders to get outstanding loan offers today!

Very Smart Financial Moves for the Fresh Graduates

Many celebrate their graduation with a party. Thinking that the hardship is over and salary is finally on its way to purchase your dream car or ticket towards a gorgeous vacation. The next day, you find yourself unemployed with a personal loan in Singapore to pay and a list of things you have always been wanting to do with your salary.

Once you land a job which probably offers a salary that is way smaller than you expect, here are some tips that may give you a better experience in this period called adulthood.

Arrange your papers

If you want to become an SEO  expert who ’s to offer google local SEO services under an enterprise-level digital marketing firm, get your papers in order and organize them. These papers should include your birth certificate, SS Card, passport, and marriage certificate if applicable. You will realize that these documents are the basics when it come to processing things such as getting a loan, buying a car, and looking for a new digital marketing strategist job.

You can also include land titles if you have, photocopies of ID’s and others. Compile them all and do not forget to have some clear copies. Put the documents in a safe but accessible place. Processing loans with ready paperwork also make you seem professional

Repay student loan

Know when is the grace period of your student loan. Grace period is when you must give your first repayment. You might be tempted to spend your money on other things, but always make sure that you repay your loans on time to avoid risking your credit score and defaulting.

Messing up your loans will cause consequences that might hunt you for the rest of your life. It is hard to get a loan approved if you have a bad credit score or if you have a history of defaulted loan. If you experience dry months do not hesitate to contact your lender and talk about it, most probably your lender can offer various options.

Open a credit card account

While many think that it might cause a person to spend more than they can earn, having an RCBC Bankard or any credit card account can help you beef up your credit rating. Make sure that you charge items that you can realistically afford and pay every month. A good BDO credit card account record will boost your credit score. A good credit score can also get you a lower loan interest rate, so take care of it.

8 list of government’s support initiatives for startups

Singapore has an ideal environment for entrepreneurs to start a business of their own. The government initiates programs that provide easy access to local support and global business network to stay strong amidst the fierce market competition. Basically, new business owners need funds, grants, and Singapore business loans to stay on course during the first few years.

Here is the list of government’s support initiatives for start-ups:

  1. Start-up SG

It offers one-stop-source of capability-enhancement training funds, grant, and loans. In this program, the Singapore government together with a third-party which is willing to invest a minimum of S$50,000 partners with the business owner. It also offers start-up Singapore business loans such as SME Venture loan (up to S$5,000), SME Working Capital Loan (up to S$300,000), SME Micro Loan (up to S$100,000) and SME Equipment & Factory Loans (up to S$15M).

  1. Innovation and Capability Voucher (ICV)

New companies can avail a maximum of 8 vouchers to upgrade or strengthen core operations such as financial management, human resources productivity level and facilities innovation. Each voucher costs S$5,000.

  1. Angel Investors Tax Deduction (AITD)

Angel investors who invest at least S$100,000 to qualified start-ups enjoy a 50% tax deduction of the invested amount during the end of 2-year period.

  1. Productivity & Innovation Credit (PIC)

This program which is initiated by Singapore’s Inland Revenue Authority offers up to 60% cash pay-out (S$100,000) or 400% tax deductions (S$400,000) to business owners who undergo productivity improvements and innovations.

  1. Early Stage Venture Fund (ESVF)

The National Framework for Innovation (NFR) allocates S$10 million to match the fund of corporate Venture Capital (VC) and assists start-up high-tech companies in Singapore.

  1. Financial Sector Technology & Innovation (FSTI)

This scheme is funded by Monetary Authority of Singapore (MAS) to create a vibrant ecosystem of innovations and development of solutions including financial industry. MAS can provide 50-70% funding support (up to S$200,000) for a period of 18 months. This 5-year program has S$225 million budget and aims to attract technology firms to set up labs in Singapore.

  1. Building Information Model (BIM) Fund

Start-up companies can avail up to S$30,000 subsidy to fund hardware or software purchases, consultancy and training purposes.

  1. Business Improvement Fund (BIF)

Tourism-related businesses can get funding assistance for Singapore Tourism Board (STB) through BIF. Qualified SME’ receive up to 70% costs of projects while non-SMEs are awarded up to 50% fund assistance to improve competitiveness.

The bottom line is, Singapore is a great place for start-up companies. As a regional business hub in Asia, the country also offers strict intellectual property rights, good connection to emerging markets, low corporate rates and skilled manpower. In terms of financing, there are private and online credit companies offering Singapore loans from a legal money lender to business owners.