Overseas Filipino Workers (OFWs) who want better future decide to leave their families temporarily and work abroad. Most of them dream of starting their own business that will serve as additional income-generating source. One way to fast-track this dream is to secure an OFW loan for Filipinos in Canterbury. This type of loan is able to assist numerous families of OFWs in putting up their business ventures.
Popular Food Business Ideas for OFWs
Sari-Sari Store or Mini- Grocery
This is the simplest and easiest business to set up. A simple Sari-Sari store requires minimal amount of investment especially if you use an unused area of your home and the family members are working together. The capital investment will be higher if you are going to rent a space or construct your own store. Projected starting capital is between P50k to P100k.
Food Cart Business
Filipinos love food especially all-time favorite fishball, kwek-kwek, fries, burgers, pizza, siomai and a lot more. These foods are found in almost every corner of the neighborhood, malls, parking lots, university belt areas, MRT stations and other crowded places. The capital investment to franchise a food cart business starts at P25k up to P300k. If you do not have enough money, get help from OFW loan.
Franchise a Restaurant
A restaurant franchise of a known brand assures potential return of investment and profit. The money you invest will grow fast because you are not on your own. You are guided by an established food brand, business concept, fixed system and expertise of people handling the business. The cost of investment for a restaurant franchise is from P300k above.
Open your own restaurant, café or bar
Opening your own food joint is another option. This is the best if you want people to patronize your specialty dish or beverage. Although the risk is higher, the prospect of offering something new to people is a great motivator to venture in this type of business. The investment capital starts as low as P100k to P300k.
Investing your hard-earned money to food business industry is a step towards more financial independence. You can start it while you are abroad and become your main source of income when you decide to come home. Start saving for your dream business and when you need financial assistance to make it come true, allow OFW loan to help you achieve it.
Living in this high-tech era requires steady flow of cash to sustain a comfortable existence. The increasing prices of commodities, the high cost of education and the tempting display of modern gadgets among other factors gave birth to all types of lenders–from banks to loan sharks. It is not surprising that they keep growing because many Filipinos live beyond their means especially the average earners. At present, cash loan is now the quickest way to finance people’s needs and wants.
And because of this, scammers or fraudulent lending entities sprout everywhere. Their aim is to get your private personal information or your money.
Here are 6 telltale signs that you need to be aware of:
Scammers offer deals which are too good to be true like depositing the money within minutes its approval or allowing you to pay the interest 3-6 months after. Others offer additional cash, a bonus reward or a brand new IPhone for patronizing their company.
They ask for advance fee. If the lender requires you to pay money in order to facilitate the processing of your loan, stop dealing with them. They only want to earn from you and be gone for good. The best licensed moneylending companies typically charge application or processing fee but it is deducted from your approved fund.
Scammers are eager to get hold of your money or information so they will constantly contact you. Their sense of urgency is not because they want to help you, rather the opposite-they want your credit card details, bank information, personal data and the advanced fee that they require.
They do not require proof of income to verify if you have the capacity to pay the loan. Unlike legitimate cash loan lenders and banks, scammers do not care about how you pay because they will not be releasing fund. They are only after your money or personal information.
They ask you to deposit or transfer advance fee to an individual’s account instead of a company. This is the final red flag, so run away. You are dealing with scammers.
They do not have business website with contact numbers and physical address. They use generic email address. Most of the time they are inaccessible or unreachable when you send private messages.
Save yourself from being scammed during your vulnerable moments of emergency needs. Always check these 6 signs to find out if the personal loan lending company is trustworthy and legitimate to transact business in the country.