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Are You Ready To Start Your Own Business?

Yes you have the money (or you are planning to get a loan somewhere). Yes you have an idea of what kind of business you want. Yes you feel excited about putting up a business of your own so you will no longer be trapped in an employee status relying on your monthly salary. But wait, before you take the big leap sit down and breathe and do your research first.

The biggest question I asked a financial guru during a Financial Literacy and Financial Management seminar during the Go! Negosyo Summit at the World Trade Center yesterday was: “With the global economic recession happening is it wise to put up a business right now?”

Surprisingly Mr Benel Lagua, President and COO of Small Business Corporation, a lending company for small and medium businesses, enlightened me in an exclusive interview for Earthlingorgeous.com about my apprehension and said despite the global recession, domestic local markets are not affected as people will remain consumers of goods and services.

He said the best business to put up these days are domestic local business, the kind that is targetted to one type of consumers like food and consumer goods and something that students and employees need and something that they can’t do without.

I was to vid record the interview but this guy from Go! Negosyo said he’d do the shoot for us and grrrrrrrr he didn’t took any vid at all (maybe that was his strategy so I won’t get the vid lol!) so what I got was the last part of my interview where Mr. Lagua invited my readers to go to their company if they are interested in securing loans for their future business ventures.

SBC offers Micro-Financing Programs with these in mind:

  • Target end-borrowers are the pre-enterprise micros which are either start-up or graduating micros.
  • Generally, they are the economically active, thus classified as entrepreneurial poor or e-poor
  • Start-up micros are not registered, with no or limited credit and livelihood track record, and no tangible business assets
  • Graduating micros are already willing to register as an enterprise, have a livelihood track record of at least one year, have a credit track record with a micro finance institution, and with some tangible business assets

Mr. Lagua also gave tips for future borrowers on how to get their loans approved. Here are his tips on how to get funding from formal lenders:

You should be ready to answer the following questions:

  1. What is the purpose of the loan?
  2. How did you compute for the needed loan amount?
  3. How much income will the loan generate?
  4. How will you be able to repay the loan?

For those who are interested about business loans and anything regarding small and medium enterprises SBC conducts weekly seminar you can visit and contact any of their offices here:


17th & 18th Floors, 139 Corporate Center
139 Valero Street, Salcedo Village, Makati City, 1227 Philippines
Tel. No. (632) 751-1888 Fax No. (632) 813-5726


Contact Person: Mr. CESAR ANTONI, Department Manager
Unit 802-B Keppel Center, Cebu Business Park
Cebu City, Philippines
Tel. No. (032) 232-1200 Fax No. (032) 234-4500
Email: cantoni@sbgfc.org.ph

Iloilo Desk Office
Contact Person: Ms. JULIE JEAN TIDON
2nd Floor, DTI Building
Corner J.M. Basa-M. Peralta Sts., Iloilo City, Philippines
Tel. No. (033) 335-0060 Fax No. (033) 323-4082
Email: jtidon@sbgfc.org.ph

Tacloban Desk Office
DTI – 8 NACIDA Building
Government Center, Pawing, Palo, Leyte, Philippines
Tel. No. (033) 323-7360 Fax No. (033) 323-4082
Email: egarado@sbgfc.org.ph


Contact Person: Ms. DIDA M. DELUTE, Officer-In-Charge
Unit 76, 7th Floor, Landco Corporate Center
JP Laurel Avenue, Bajada, Davao City, Philippines
Tel. No. (082) 221-1488 Fax No. (082) 221-0858
Email: ddelute@sbgfc.org.ph

Cagayan De Oro Desk Office
Contact Person: Mr. JADE MONTERO
c/o DTI Region 10 Office
Corrales cor. Luna Sts., Cagayan de Oro City, Philippines
Tel. No. (088) 231-5703 Fax No. (088) 231-5703
Email: jmontero@sbgfc.org.ph

General Santos Desk Office
Contact Person: Ms. ALONA I. QUESADA
2/F RA Bldg., South Osmeña St.,
General Santos City, Philippines
Tel. No. (083) 554-1929
Email: aquesada@sbgfc.org.ph


Naga Desk Office
Contact Person: Ms. MA. EDENA DIEZ
Panganiban Drive, Naga City, Philippines
TeleFax No. (054) 4739975
Email: mdiez@sbgfc.org.ph

La Union Desk Office
Contact Person: Mr. JULIUS CRUZ
Trade Center, CityHall Complex
Quezon Ave., San Fernando, La Union, Philippines
TelFax Nos. (072) 242-7647
Email: jcruz@sbgfc.org.ph

Isabela Desk Office
Contact Person: Ms. FENELYN ALMIROL
RM 4 2nd flr OH Commercial BLdg. San Fermin, Cauayan City, Isabela, Philippines
TelFax No. (078) 6521964
Email: falmirol@sbgfc.org.ph

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1 Comment

  1. carlman p viscaya

    magkano po ang loan interest per annum sa business loan?

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