Free Money!*

[Bruce]

* OK so I am lying.... Nothing is free, especially money! But.... there is a program I have come across that is designed to help poor / but business minded Pinoys.

 

Here is the deal... You are not a canidate. The limit is $250 USD. It is a LOAN, with ZERO % interest, to be paid back over a 24 month program. The money that is paid back into the program is then lent out again to others in the same situation. Only Philippine citizens (in this case) may apply. 

 

If you have read this far, here is what YOU do, Mr Foreigner........

 

$250 is chump change to many from a 1st world country. But that $250 = to about 10,000p +-. So while you may not be impressed, there are many Pinoys / Pinays who can turn that 10,000p into a small business.

 

YOU, the foreigner may know a deserving but poor family who, if given that 10,000p can do something that will provide the seeds for a small business. Sari sari, fishing, charcoal, ... something that generates a steady income. Family of your helpers? Poor family in the nipa hut close by? Your wife's cousin? (No, not the drunk ones!)

 

Money each day to be separated into a few pesos to repay the loan, buy replacement stock and expanded stock and the what is left is take home money. Not many Pinoys are aware of this. But you should be.

 

So, YOU offer your help as a consult and help them transition into a small little business into a slightly larger business able to resupply itself and stand alone. You help them understand to NOT pay their personal bills and buy tuba with the money. Business use only.

 

Think about this and talk to some of them. I need a short and simple business plan and pictures of them. They will also need  (you) to supply updates as to their progress. Now, if you live in Manila... 10,000p is not much these days. But if you are living OUT THERE in the boonies... that 10,000p may be a big deal.

 

DISCLAIMER: There is an organization who funds this program. Not my charity. The other organization does not deal with the applicants themselves. They deal only with other charities such as the charity I represent.

There are NO APPLICATION FEES! You, Mr. Foreigner are not guaranteeing the loan. There is nothing for you to sign and your name is not used. I am only using you are an on site consult.

 

If this is something you would like to try, PM me and I will give you the web address of the other organization and you can do some research there.    

[Jollygoodfellow]

I'm sure there are at least two threads on this micro lending scheme or is this a new one? 

[Bruce]

I'm sure there are at least two threads on this micro lending scheme or is this a new one? 

This is a new player as far as I am aware. I think I sent you an email a few days ago with the link in it. I did not put it in here to cut down on the lookers and see if we have any serious canidates. Remember unlike other programs, this is ZERO % interest and the loan is paid back into a fund for future loans. No one is making money off this deal but the applicant who starts up a small business.  

[Thomas]

I'm not there yet, and I don't know how much time I will need to try to earn enough for my own living in my company,

but after - I hope   :)  - can slow down some, I think of doing something like this anyway if I find finansing. 

I found one similar/same as the one you talk about, BUT they demand the handling aid organisation being running several years with rather high turnover, which few can fullfill.  So I can be interested.

 

Any problem for handlers from loan sharks being annoyed by the change from 140 percent to zero?

Edited February 28, 2013 by Thomas

[Bruce]

I'm not there yet, and I don't know how much time I will need to try to earn enough for my own living in my company,

but after - I hope   :)  - can slow down some, I think of doing something like this anyway if I find finansing. 

I found one similar/same as the one you talk about, BUT they demand the handling aid organisation being running several years with rather high turnover, which few can fullfill.  So I can be interested.

 

Any problem for handlers from loan sharks being annoyed by the change from 140 percent to zero?

 

Not that I am aware of. This is a 1 time deal per applicant. Most of the money lenders out on Samar expect repeat customers and they must have a bank account with an ATM card. So money is mostly lent to government workers and teachers. The loan company takes the ATM card and the pin number and on pay day, the loan company employee may do 'a lot' of ATM transactions in taking out the payments for the loan.

 

There is a sub lender business, but it is very risky as they need the customer to actually come to them to pay the payments and there is no collateral.

 

I am not aware of any violent collection issues, but I am a Kano looking in at them and not part of the mix.  

[Thomas]

I'm not there yet, and I don't know how much time I will need to try to earn enough for my own living in my company,

but after - I hope   :)  - can slow down some, I think of doing something like this anyway if I find finansing. 

I found one similar/same as the one you talk about, BUT they demand the handling aid organisation being running several years with rather high turnover, which few can fullfill.  So I can be interested.

 

Any problem for handlers from loan sharks being annoyed by the change from 140 percent to zero?

 

Not that I am aware of. This is a 1 time deal per applicant. Most of the money lenders out on Samar expect repeat customers and they must have a bank account with an ATM card. So money is mostly lent to government workers and teachers. The loan company takes the ATM card and the pin number and on pay day, the loan company employee may do 'a lot' of ATM transactions in taking out the payments for the loan.

 

There is a sub lender business, but it is very risky as they need the customer to actually come to them to pay the payments and there is no collateral.

 

I am not aware of any violent collection issues, but I am a Kano looking in at them and not part of the mix.  

OK. I didn't ment violence concerning collection, but I don't want to be attacked by a loanshark who get angry if taking their customers.

 

A kano loan shark got killed last year, but I don't know why, but sure that's a risky business in both economical and physical point of view.

 

(Not sure if I think zero interest is best, because a LOW interest can add some economical understanding at the same time,

and good if the capital value can be kept staying the same (=inflation. Perhaps someone can't/wouldn't pay.)

[Bruce]

The money is coming from a religious charity. I believe that they take the pictures and a short story about the applicant and then publish on their website where their member have access and then money is donated for that applicant, up to the max of $250. Also general funds money can be used for the same purpose by that organization. They do not work directly with the applicants, instead use a charity such as the one I represent.

 

They say 0% interest and no application fee and that I what I am doing for them. The only twist that I am using is that I am reaching out to forum members who may know a deserving family and can act as a sort of on site consultant for the applicant.

[Thomas]

The money is coming from a religious charity. I believe that they take the pictures and a short story about the applicant and then publish on their website where their member have access and then money is donated for that applicant, up to the max of $250. Also general funds money can be used for the same purpose by that organization. They do not work directly with the applicants, instead use a charity such as the one I represent.

 

They say 0% interest and no application fee and that I what I am doing for them. The only twist that I am using is that I am reaching out to forum members who may know a deserving family and can act as a sort of on site consultant for the applicant.

OK.

What do the HANDLER (=consultant) need to do to be approwed by that charity? Through your aid or separate?

Is it OK to start with a few?

[Bruce]

The money is coming from a religious charity. I believe that they take the pictures and a short story about the applicant and then publish on their website where their member have access and then money is donated for that applicant, up to the max of $250. Also general funds money can be used for the same purpose by that organization. They do not work directly with the applicants, instead use a charity such as the one I represent.

 

They say 0% interest and no application fee and that I what I am doing for them. The only twist that I am using is that I am reaching out to forum members who may know a deserving family and can act as a sort of on site consultant for the applicant.

OK.

What do the HANDLER (=consultant) need to do to be approwed by that charity? Through your aid or separate?

Is it OK to start with a few?

 

The handler is not approved. Simply an observer and go to person for questions by the person getting the funds to start a business. It is the applicant who is to be approved.

[Thomas]

The handler is not approved. Simply an observer and go to person for questions by the person getting the funds to start a business. It is the applicant who is to be approved.

OK. What demands at the applicants to be approved?