Thursday, October 9, 2008

Business Loans

The effect of the global financial crisis is being felt gradually in the prices of basic commodities, the weakening value of Peso and worst the possibility of having our beloved OFWs’ return to Philippines because of retrenchment.

Experts’ advice OFWs to establish businesses to at least have a source of income upon return here in the Philippines. Even after long years of hard work, not all OFWs have the enough capital to start with. Among the available options are loans from established banks like Citibank, BPI, SCB, PSBank, Chinatrust, China Bank, RCBC, Metrobank, BDO, East West Bank, UCPB, Planters Bank, Premiere Bank, Sterling Bank, GE, and more. Likewise, there are also small micro-financing corporations who are in the rescue to lend individuals who find a hard time getting a loan from banks, and there are also cooperatives.

Establishing a business is not that easy but creating small businesses will help the Philippines to surpass the current global financial crisis, in a way. I just hope that banks, cooperatives and other lending institutions will make their own ways to extend helping hands to entrepreneurs who are in need of capital to help the country in good shape financially.


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