One common experience in 2020 is the disruption in personal cash flow. Whether you are employed locally or are working as an overseas Filipino Worker (OFW), the question remains the same–to what extent were you affected financially? This 2021, why not open up more opportunities for financial growth through a startup business loan in the Philippines?
In a recent study by McKinsey & Company, the researchers noted that job security concerns remain high following the pandemic. In the Philippines, employers were forced to reduce employee man hours as a response to the pandemic. Some were unfortunate to have lost their jobs. Due to these, more individuals have considered setting up their own business but capitalization remains a major challenge for most.
For those employed locally, what a better way to maximize your assets (car or land property) than using it to get financial resources to fund a business concept that you have always wanted to pursue!
For OFWs who are either currently abroad or are on vacation, put your invested property into good use. You have been working hard abroad and the fruit of your labor can help you earn more money through a collateral loan.
Low-interest Collateral loan
If you happen to own a car or a land title, you’re already qualified to avail of a startup business loan so you can fund the business that you have always wanted to set up. Also called a Land Title Loan or Car Loan Or/Cr Collateral, this type of loan is made possible with the presence of a property that will serve as collateral.
Perhaps, many people have grown fearful of financial institutions who are notorious for their seemingly less humane way of running their lending business. Here is one fact. There are a few socially responsible firms that service their clients with the utmost consideration, especially during these challenging times. Openness is the key to your success in the business venture that you have in mind.
Risk is always present in any business. You will just have to be careful during the entire process of applying for a loan whether in the form of a car loan (the use of OR/CR as collateral) or land title loan until signing legal documents prior the release of proceeds. It is safe to consider the “good” lending firms as instruments to get you closer to fulfilling that dream of getting financial growth in the form of setting up a business.
The successful businessmen will agree that perseverance is everything, especially during the initiation phase. So, while most people are busy preparing for the holiday season, reflect and be brave in making decisions even before a new year starts.