Loaning businesses - need your insights

**jansky** · May 31st, 2012 12:55 PM

HI,

I would like to seek your opinions for my dilemma

My wife would like to have this loaning business in her office. the only one allowed to this loan is all the regular employees only and the maximum amount to be loan is the monthly salary of the employee , once employee avail of the loan the employee must turn the ATM card as form of collater (3months up to 5months maximum of monthly payment)

now, my wife will seek approval of the bank for the 100k so she can start the ball rolling in the business.

But then I discuss to her that it will be best if we loan first 50k to the bank as start up then if the 50k is fully paid again that is the time we can raise the loan from the bank to continue the ball rolling in the business.. and at same time my wife can understand more the cycle of the business before pushing it thru

but then again she said that , how can we serve other employees if we only have around 50k as start up.

my point is.. it is better to start in small rather than big then lose big too . fast money is high risk

**asb75** · May 31st, 2012 01:34 PM

try nyo muna sa small amount. at least kung magkaproblema, hindi kayo mabaon sa malaking utang sa banko. Just be sure na yun ATM card ay nag-iisa lang. Baka kasi magrequest nang ATM card for replacement yun employee na manghihiram nang pera sa inyo. (Magiging bago na ang PIN nun)

**_Qwerty_** · May 31st, 2012 01:44 PM

masakit sa ulo yan sir..magkano interest?? yung alam kong ibang ganyan matindi pa sa 5-6... dapat ang kausap nyo dyan yung payroll officer nang company.. kasi pwedeng lumapit yung employee.. wag padaanin yung salary nila sa ATM.. or i declare loss yung ATM kumuha nang bago.. marami na ako narinig na ganyan.. uutang tapos re resign.. ba bye na..

maganda nyan kung kausap yung payroll officer.. straight salary deduction.. para walang problema..

**jansky** · May 31st, 2012 01:56 PM

the interest is around 3% ata..

dito kami minsan nag aaway... yan pa good point paano pag nag declare na nawala ung ATM..

sasabihin kasi sa akin eh " di naman siguro gagawin yan ng officemate ko, tska yung tiwala pag ganyan ginawa nila sila rin mawawalan" eh sa business.. the least you can offer is the trust pero pag kilala m na talaga ung tao at least mas mapagkakatiwalaan mo

**_Qwerty_** · May 31st, 2012 02:05 PM

3% per month ang interest?? usually monthly yan eh..

hindi pwedeng hindi naman siguro gagawin.. gagawin yan.. pag nagkagipitan yan.. walang kaibi kaibigan.. marami nang nasirang samahan dyan..

my 2 cents.. kung hindi naman talaga kailangan yan.. wag nang pasukin.. masakit sa ulo yan..

Originally Posted by jansky

the interest is around 3% ata..

dito kami minsan nag aaway... yan pa good point paano pag nag declare na nawala ung ATM..

sasabihin kasi sa akin eh " di naman siguro gagawin yan ng officemate ko, tska yung tiwala pag ganyan ginawa nila sila rin mawawalan" eh sa business.. the least you can offer is the trust pero pag kilala m na talaga ung tao at least mas mapagkakatiwalaan mo

**1997** · May 31st, 2012 02:17 PM

mahirap din kung mag papa loan ka ng whole amount ng salary nila... paano yung daily expenses nila... tingin ko mga 40% lang ng salary nila... plus lost ATM and resign ang kalaban mo dyan... and 50K is too small... ilang employee lang yun. maybe 3 lang yun...

Suggestion lang.. paluwagan na lang.. then involve niyo yung accounting and payroll officer ninyo... from there pwede kayo mag pa loan using the proceed from the members... then let them sign ng authority to deduct... yun nga lang share din kayo sa kita...

**_Qwerty_** · May 31st, 2012 02:23 PM

ganyan din yung ginawa dito sa amin.. paluwagan.. tapos sila nagpapautang.. to a point na umabot na sa 100T yung pinapa utang nila.. pinautang don sa isa.. i bu business daw.. nabayaran naman.. umutang ulit.. 150T na.. tapos ayun.. bigla na lang nawala.. ay di lahat sila nawalan.. pati principal and interest nung paluwagan natangay..

Originally Posted by 1997

Suggestion lang.. paluwagan na lang.. then involve niyo yung accounting and payroll officer ninyo... from there pwede kayo mag pa loan using the proceed from the members... then let them sign ng authority to deduct... yun nga lang share din kayo sa kita...

**jansky** · May 31st, 2012 02:23 PM

not sure kung inhouse ung payroll officer or it is provided by other company..
meron "ata" silang paluwagan.. pero may amount limit ata ung pag hiram doon.. that is why my wife came an idea about this.

Yes 50k is small.. it can only serve up to max of 3 persons.. but it is a start para malaman kung paano nga ung tamang pagpapaikot ng ganitong klaseng pagkakakitaan

**vinj** · May 31st, 2012 02:35 PM

I've seen that in a company before. Sakit sa ulo yan, you'll have more enemies and it may even cause your wife to lose focus on the important thing which is her work.