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Funds sources

Roy — Thu, 09 Feb 2012 23:52:38 +0000

Every now and then, an opportunity comes knocking to an entrepreneur. More often than, however, those opportunities come when he or she is short on funds. Fortunately, there are many money lenders who can provide additional funds. But to be safe, the entrepreneur should be sure that the source is a licensed money lender which is accredited by the government for him to get protection. Like insurance on his submitted collateral (should it be required), and of course, insurance for himself.

Once it is established that the money lender is authorized, he can proceed with the processing of loan. An entrepreneur would not want an opportunity pass him by just because of lack of funds. He knows better that it is not everyday that opportunities will come knocking at his door. But while he is on the lookout for opportunities, the entrepreneur also knows which one to pick and which one to pass.

What is important here is that, while he may not liquid at all times, he have a list of licensed and authorized money lenders, and other reliable funds sources, so that when a good and feasible venture comes his way he will be ready and he would not “miss the bus,” so to speak.

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Bruno Mars included in the TIME Magazine 100 influential people list

Roy — Sun, 24 Apr 2011 13:33:11 +0000

Half-Filipino and world music sensation Bruno Mars made it to the TIME magazine’s list of 100 most influential people for 2011. Born Peter Gene Hernandez to a Filipino mother and Puerto Rican father, 25-year old Bruno Mars ranked no. 64 in the TIME Magazine’s list, as he joins an illustrious list of artists and activists, reformers and researches, heads of state and captains of industry who have affected people and their views across the globe.

Bruno Mars is best known for his songs “Just the Way You Are” and “Grenade.” He received six Grammy nominations and won the Best Male Pop Vocal award for the song “Just the Way You Are” at the recent Grammy Awards. His song “Nothing on You” was named Song of the Year for 2010 at the Soul Trains Awards.

He is regarded by his fellow artists as part of the new wave of musicians who do everything. Bruno Mars sing, play, write and produce.

“There are a lot of people in this world who can sing and play the piano and guitar. Hell, I sing and play the piano and guitar. But there’s something different about Bruno Mars. He has a musicality, a presence in his voice that I’ve never heard from anyone else,” said singer, rapper, musician and record producer B.o.B. when interviewed by TIME.

“When he performs live, nothing is prerecorded or fudged. It’s a straight up, classic performance. That’s so rare these days. We needed only two sessions to record “Nothin’ on You.” But when we perform live is when you really see our chemistry in action.” he added.

Other artists who were also in the list of the TIME 100 were Justin Bieber and Glee star Chris Colfer.

To see the complete list, log on to the TIME Magazine website.

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Crucifixions in Pampanga continue to attract tourists

Roy — Sun, 24 Apr 2011 00:26:01 +0000

Last Good Friday, there were a total of 27 penitents who were nailed to the cross in Pampanga and Bulacan, 22 were crucified in Barangays San Juan, Sta. Lucia and San Pedro Cutud in City of San Fernando, Pampanga, and five in Barangay Kapitangan in Paombong, Bulacan, which include two women.

The nailing began at 9 a.m. with three penitents in San Juan. Three hours later, three more were nailed to the cross in Sta. Lucia. In the afternoon, 16 more penitents were nailed in San Pedro Cutud. The event is a reenactment of Christ’s crucifixion, a tradition practiced in the province since 1955 with the staging of the “Via Crucis” or the Way of the Cross.

Meanwhile, 22-year old Wendelyn Pedrosa was the first woman to be crucified in Paombong, followed by 50-year old Precy Valencia who works as a house help and high speed sewer in Manila. She said she has been participating in the Way of the Cross for 30 years.

The Via Crucis was first performed in San Pedro Cutud 57 years ago. However, it was only in 1962 that an actual crucifixion was witness during the play. Artemio Anoza, an “albularyo” who wanted to become a religious leader and full-fledged healer, volunteered to be crucified then to attain his dream.

This year, 50-year old Ruben Enaje of San Pedro Cutud played the main character of Christ to be crucified in their village. This was his 25th year to be crucified at the same site. Enaje, who was the most known among the penitents nailed to the cross, said the act is his religious vow of thanking God for surviving an accident. He said he will do the act for two more years before he retires.

The Catholic Church does not approve of the crucifixions and whippings, reiterating there is no need for corporal punishment to show one’s faith. Fr. Rolando de Leon of the Fatima parish church in Marilao town said there are other ways to show penance. He added that what flagellants are doing contradicts the Church’s teachings.

But even as the Catholic Church condemns the practice, the crucifixions and whippings have become an annual tradition which attracts tourists, both local and foreign.

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BF-GF ad pulled out by McDonald’s

Roy — Thu, 14 Apr 2011 08:55:27 +0000

Possibly fearing that theirs could go the way of Jan-Jan’s case and escalate into another media frenzy, McDonald’s Philippines immediately pulled out its add which was tagged by some as the “BF-GF commercial” after the Catholic Bishops’ Conference of the Philippines (CBCP) called for them to stop airing the ad.

Although there were really no cries of child abuse nor exploitation, but the fast food chain giant deemed it is best to pull out the 30-second commercial from the air after some Catholic Church officials warned that ad could send wrong message and inculcate negative values to children.

In the said commercial, the little girl asked the boy if she was already his girlfriend, to which the boy replied no. He said girlfriends are too demanding and asking for so much. But when the little girl said that all she wanted was french fries from McDonalds, the boy’s face flashed and he changed his as he counted his coins in his pocket totaling P25, which is the price of the fries.

Vice President for Marketing Margot Torres of McDonald’s Philippines said that they have decided to pull out the TV ad because they respect the call of Caloocan Bishop Deogracias Iñiguez. She added, “So by Wednesday, a different McDonald’s ad should be seen on TV.”

Bishop Iñiguez said that they were happy that McDonald’s listened to their plea and that it agrees with the sentiment and the reflection of the church about the commercial. The bishop also said earlier, “The two children are not even at the right age for this kind of relationship… It might also pave the way for us to lose sight of the good ways of shaping the values of our children.”

Executive Secretary of CBCP on Family and Life, Fr. Melvin Castro said earlier that the commercial is “very shallow” and “cheapens human relationships.” He also said that, “If the ad attempted to teach commitment, it failed because it was too superficial to point to a packet of french fries as the basis of a relationship.”

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Azkals to hold tryouts to beef up its line-up

Roy — Tue, 29 Mar 2011 01:33:14 +0000

To beef up their line-up, the Philippine football team will be holding try-outs on April 9 to 10 at the Gellert Park in Daly City, near San Francisco. Team captain Aly Borromeo and defender Anton Del Rosario will conduct the tryouts, they are looking to recruit talents in the 15-24 age bracket. Borromeo and Del Rosario will supervise the tryouts, together with US college football coaches.

Del Rosario said, “The players are coming from all over. There were at least eight from the East Coast looking forward to the tryouts in New York City but we’ve asked them to fly to San Francisco instead so we can assemble the players all together. It’s more practical to hold the tryouts in the US than ask the players to fly all the way to Manila. We’ve got players coming in from Canada, too.”

Borromeo justified their plan to recruit from the US because bringing in players from overseas to suit up for the national team is a reality in the global game, “It happens all the time,” he said. “In our case, we’ve learned to adjust to each other. Players come just a few days before a match and leave right after. That’s how it is with a lot of national teams whose starts play for clubs in other countries. We’ve become familiar with each other. Coach Weiss doesn’t mind. As long as we’re winning, he’s happy,” Borromeo added.

He said he is also on the lookout for players who can see action with the under-23 squad at the Southeast Asian (SEA) Games in Indonesia this November. Goalkeeper Neil Etheridge, 21, reliever Christopher Camcam, 16, defender David Basa, 21, striker Yannick Tuason, 21, Fil-German Patrick Hinrichsen, 20, and Fil-Dutch Jason de Jong, 21, are among the players now in the under-23 pool.

The Azkals made history when they qualified for the first to the Asian Football Confederation (AFC) Challenge Cup proper cup tournament after placing second in the group stage in Myanmar last week. They drew with Myanmar and Palestine and then defeated Bangladesh.

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PDIC begins inventory of Banco Filipino assets

Roy — Wed, 23 Mar 2011 16:28:51 +0000

While it is still processing the payment of deposit insurance to its depositors, the Philippine Deposit Insurance Corp. (PDIC) also started in its inventory of the assets of the closed Banco Filipino Savings and Mortgage Bank.

Officials of the closed bank, however, insists that it is not insolvent. It even went into having full-page advertisement in newspapers claiming that it has an inventory of valuable real estate properties that were acquired through foreclosures from way back in the 1980s.

The list of bank’s properties include:

an 82-hectare prime property along Daang Hari
a 78-hectare property in Quezon City
a 102-hectare property in San Jose Del Monte and Norzagaray areas
a 42-hectare property in Naga City
a 38-hectare property in Pagudpod Beach in Ilocos Norte
and several properties in Las Piñas and Parañaque.

Banco Filipino said that the BSP’s Monetary Board (MB) was fully aware of the valuable assets held by the bank that is worth more than its liabilities. “These assets have an aggregate value of at least P30 billion while total deposits are only P15 billion,” the bank said in its notice.

The bank also claims that all of its loans granted to its clients are fully secured by real estate properties whose aggregate values are much more now than at the time the loans were drawn. It said, “The Monetary Board had no basis for its action which caused the heavy withdrawals. The bank had enough collateral to cover the bank’s immediate requirement and the situation should not have been magnified.”

Banco Filipino was ordered closed by the BSP last March 17 and placed it under receivership by the PDIC after it failed to reopen for three straight days as the liabilities of the overwhelmed its assets by P8.4 billion.

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The holiday rush and saving money on your cards

Roy — Sat, 18 Dec 2010 14:02:12 +0000

Christmas is indeed around the corner, and the mad holiday rush is on. Make sure you have enough cash just in case you spot a great sale or something you think is a perfect gift for “someone who has it all.” Unfortunately, many banks are closed during the holidays, and you really do not want carrying big cash around, and for a good reason.

One good thing though, is that many stores now, especially those in the malls, have merchant accounts and therefore you can purchase with the use of your credit card. That is the benefit of having a good credit, you really do not need to carry cash. Paying with the plastic is much more convenient really.

But be weary though, that convenience can be very tempting. You have to be wise in using and managing your balances in your credit card. Before you know it, your credit card bill could pile up if you are not conscious of your purchases.

One good way to save money is to pay your credit balances in full, instead of just the minimum amount due. That way, you can avoid the finance charges on the balances left on your card. Remember that you are just using your card as a convenient way of paying for your purchases so you won’t have to carry cash.

So shop and join the holiday rush and pay with plastic money if you must. But be wise, and always pay in full, if you can, when the credit card bill arrives.

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Short of funds this holiday?

Roy — Sat, 11 Dec 2010 23:12:35 +0000

The holiday season almost, always brings out the shopaholics in us, and that’s just because we love to buy gifts for our love ones. Unfortunately, this thoughtfulness often depletes our finances. Good thing there are payday loans available for us to stretch our budget so we can buy the presents we think our love ones deserve to receive.

Because while we should be practical and prudent, even in a occasion like this, we still could not let the holiday pass without showing the people we love how we feel for them. It is also a good way to express our gratitude to them for being there in the year that just passed.

So if you still need to buy more gifts and yet you are already short on cash, try to look around for payday loans, and try to scout for more than one. That way, you can compare their rates, their conditions – penalties, service charges and the like. You do not want to find yourself in a fix sooner or later, right?

If you do decide to avail of those payday loans, make it your last resort. And be sure to plan your finances so you can immediately pay if off. Remember, it’s money with a cost. If you can find alternate gifts which are cheaper and yet express the same thought, that would be better. Happy holidays!

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Villas holiday for a getaway

Roy — Wed, 17 Nov 2010 14:46:32 +0000

Let’s face it, an entrepreneur, no matter how energetic or dynamic he claims to be, gets tired. He gets full of all the works and business dealings, and he may want to “get away from it all” that is why relaxing and enjoying in the villas in tenerife sounds very inviting to an overworked entrepreneur who really deserves to get a break.

“All work and no play, makes Jack a dull boy” the same is also to a tired entrepreneur. No matter how able one can be, no matter how resourceful, industrious or dynamic he seems to be, an entrepreneur will his limits. His battery would definitely run out sooner or later, and he would seek to “escape” to recharged.

And for an overworked entrepreneur, villa holidays is definitely one good way to recharge his batteries. An out of town, or better yet, an out of the country getaway is a surefire to relax, and if possible he would resist or at least minimize his communications with his business, his employees, clients and partners. After all, he is out to “escape,” to “get away” which would not really happen if he still keep on following up with his enterprise and other business concern.

After his vacation, after unwinding and after being recharged, the entrepreneur would come back refreshed and more dynamic. He will be more effective in dealing with his business concerns, he would be more productive, and he might finally be able to close that contract with the big client he has been wooing for a long time.

The vacation would definitely do him a great wonder. He would be able to reflect, strategize and make plans for his next business endeavor. So remember, being always there in your business is good. But realize that being away from your business can bring wonders — both for you and your business. So, take a break!

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Most common tips when you are starting a shop

arbe — Thu, 30 Sep 2010 16:16:11 +0000

The most common and helpful tips that can be used if you are starting a shop, tips are listed bellow.

Location- location is one of the most important if you are starting a business because it can decide whether your business can get a customer especially in a crowded place. And if you are not in a not so crowded place you can start to advertise your shop or product so that the people may know your location.

Stable Plans- you need to have a stable plans for the future of your business. For example you need to add always a newer version of your product so that the customers will have the curiosity so that they will likely to try the new ones.

Customers- always keep in touch to your customers you also need to know what they are expecting in your product or shop and what are they want for your shop or product to be improve. In this way the customers will have a bond with you and can be a regular visitor to your shop.

Interior decoration and product quality- also one of the important thing in the business especially if you are having a shop. The decoration is important because most of the customers are going to shops not only to eat and drink but also to relax so you need to have your decoration to be more relaxing so that the customers will surely like it. Product quality is also important you need to show to your customers that their moneys will be worth-it if they will go to your shop.

These are the tips you can use if you want to start a shop.

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Jueteng for good?

arbe — Thu, 30 Sep 2010 07:10:11 +0000

How many years ago since our former president Joseph Ejercito Estrada was kicked out on the palace because one of the issue that he was involved was in jueteng. Does the government really needs this fight against this illegal gambling? Or many in the government are making money for themselves out of it.

Now that the issue has been discussed again by the senate and the congress. Can they this time trace who is or who are the real jueteng lords that behind all this.

But what if the government agrees on others saying that why not legalize the jueteng? On some point, now that jueteng is illegal, there is the fact that many poor people are making a living out of it. Imagine if the jueteng is disbanded many people will lose their living. So for some they are asking that why not legalize the jueteng instead of disbanding it so that it can help people have a job in a legal way.

The government can also have a good profit out of it if they can manage it properly. And can be another source of capital investment from the foreign investors.

So why not the administration consider this all over again? We can never really tell if this will be the one of the turn outs of this administration.

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Infrastructure for the growth of economy

PinoyBusiness — Thu, 23 Sep 2010 03:35:19 +0000

The government now is in a short of budget in infrastructure so they are looking for some help from the private sector specially from the banks. The Department
of finance also said that they will have a conversation with the Bankers Association of the Philippines (BAP).

They want to improve more and more infrastructure to attract more investments. So they are hoping to have some help from the banking sector. And if so this can boost the sectors of agriculture and torusm and can make the transportation much more likely good to use.

In the Southeast Asian countries they spend 5-percent of gross domestic product for the infrastructure but here in the Philippines they only spend 3-percent for infrastructure. Way below from the other countries.

Even the other private firms can invest in the infrastructure projects of the government. The estimated amount of budget deficit for this year is around P325 billion.

If the government can be sucessful in this one, the country might be in good shape in economy and can help thousands of filipino. So everyone must help to build more and more helpful and capital making infrastructure so that the country and once again stand up and show to the world that the Philippines is a rich and strong country.

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Push, push and promote

Roy — Sun, 01 Aug 2010 01:40:55 +0000

We are on the second half of the year. Are you ready with your business promotional products? Before you know it, Christmas is already here. So better make sure that you have already ordered your giveaways for the holidays, if you have not ordered them yet. With your promotional products, you can get to reach more people at a cheaper price than using the tri-media – television, radio and prints.

The most common giveaways that can get you more exposure are pens, baseball caps, t-shirts, promotional bags, fans and other small items. If you have a bigger budget for you promotion and marketing funds, you may opt for the gadgets like USB stick or flashdrive, MP3 Player, and other small gadgets. This maybe good especially for corporate clients. You do not want to look cheap on them, right?

And like I said before, have your promotional giveaways printed in a design that is not exclusive for the holidays. That way, you can order in bulk, which will allow you to get a lower price per piece because of the volume, and at the same time, you can still use them all throughout the year in promoting your business.

So get your promotional items ready this early.

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Reverse and other mortgages

Roy — Sat, 17 Jul 2010 10:27:41 +0000

One of the options of senior citizens when it comes to financing or getting additional cash, whether for personal use or to invest in business is the reverse mortgage where they offer their equity in their house as collateral. And during the term of the loan, they have no cash outlay, meaning they do not have any loan amortizations to pay. When the homeowner dies, or leaves the home for some reasons, the house is sold and the proceeds of which will be applied to the payment of reverse mortgage.

If this the first time you encountered this type of mortgage, the most obvious questions you might want to ask is how the reverse mortgage works and why do the borrower does not pay any amortizations on the loan? And is it really a feasible way to get additional cash for a person in his old age? Should he even have to apply for a loan at all? And who in his right mind would lend to an old man? And other stuff like that. While it may really sound complicated, it is fairly a simple deal at all. The old man borrow, enjoys the money in whatever way he chooses, he dies, the house is sold to pay the loan. Loan finished.

The best way to understand reverse mortgage, is to compare it with the forward loan. Simply put, in a forward loan, the borrower remits regular payment on the loan, and as his balance on the loan decreases, his equity on the house increases. As oppose to a reverse mortgage where he never pays any amortization for the loan and all interest in his loan is added to lien on his property. And when the property is sold upon his death, or he left the house for some reason, the proceeds will be applied on the lien on the property – which the loan plus all the accumulated interest.

Heloc vs Hecm loan

Another type we can compare reverse mortgage (HECM) with is the Home Equity Line of Credit (HELOC). We all know what a reverse mortgage or HECM is, HELOC on the other hand, is a loan where the lender agrees to lend to the borrower a maximum amount which he can avail over an agreed period of time, which called the term of the loan, likewise with borrower’s equity to the house as the collateral.

As opposed to forward mortgage, the borrower does not receive the lump sum amount of the loan in advance. It is like a revolving fund which he can draw from whenever the need arises, such as house renovation or emergency hospital expenses, as long as he doesn’t exceed his credit limit and his credit term.

Now, as to which of the three is the best option for a borrower is really on a case-to-case basis. The borrower must consider the projection of interest rates, his liquidity in the next five or ten years, and the fluctuation of the economy. He can discuss this better with a credit consultant before he ava

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Online gaming firm prepares for IPO

Roy — Sat, 03 Jul 2010 07:19:10 +0000

The IP E-Game Ventures, Inc., the online gaming unit of listed information technology firm IPVG Corp., is getting ready to go public after fulfilling the requirement of the Philippine Stock Exchange (PSE) to be listed by way of introduction last February of this year.

In its disclosure to PSE, the firm said, “In preparation for the mandated initial public offering of IP E-Game Ventures, Inc. through PSE, the company’s board had resolved to amend Article Seven of the Amended Articles of Incorporation, increasing the company’s authorized capital stock to up to 350 million shares from 100 million.”

“The board has authorized company president Jaime Enrique Y. Gonzales to negotiate with and engage the services of a financial advisor and/or underwriter to assist the corporation in its initial public offering (IPO).” However, the company did not provide other details, but last February, it said it would go public during the second half of the year.

IP E-Game Ventures got listed in the local stock exchange last February by way of introduction. This allows trading of stocks using the PSE’s facilities without raising money from the sale of new shares. However, it also required that the firm must be widely held and should conduct an IPO within 12 months. IP E-Game Ventures listed 33,545,554 common shares.

As of Friday’s trading, shares of IP E-Games closed at P40.50 apiece, down from P44.00 on last Thursday’s closing.

The company plans to strengthen its “massive multi-player online game” business, but said it will focus on “casual internet games.” In the early part of the year, the company said it has a total of 11 million subscribers, of which 3.5 million are active players or those who play the games two to three times a month.

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PSE approves REIT listing rules.txt

Roy — Sun, 27 Jun 2010 13:30:56 +0000

The Philippine Stock Exchange (SEC) has approved and issued the listing rules for real estate investment trusts (REIT), thus giving way for a new investment instruments. According to the SEC, the rules should spur interest from the investing public. REIT will use pooled capital of investors to buy and manage income-generating property and mortgage loans.

Val Antonio B. Suarez, chief operating officer of the PSE, said “We are optimistic that the launch of REITs in the Philippines will generate significant interest from investors both here and abroad as real estate prospects are looking good given that the economic recovery is expected to promote commercial activity and restore investor confidence.”

In the approved rules by SEC, a REIT company is required to have 1,000 shareholders holding 50 shares each and a minimum of P300 million in capital. Suarez said the property market will benefit from low inflation “that will keep the prices of goods stable and keep the patronage of retail malls steady.” “The residential property market shall also remain upbeat due to the steady increase in remittances of overseas Filipinos,” he added.

The listing procedures for REIT state that:

-   REIT company must be a stock corporation with income-generating real estate assets;
-   It must also have a dividend policy of distributing annually at least 90% of profits to shareholders;
-   At least 75% of the deposited property of the REIT must be invested in, or consist of, income-generating real estate; and
-   At least one-third of the board of directors of a REIT must be independent directors.

Many property investment companies have already expressed interest to raise funds through the REIT, including property giant SM Prime Holdings, Inc. which said it was looking to raise as much as $600 million through REIT.

The REIT listing rules, however, will still be endorsed to the Securities and Exchange Commission (SEC) for approval.

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Get your business online

Roy — Sat, 26 Jun 2010 22:46:48 +0000

One way to expand your market reach at the cheapest cost possible is by getting your business online. Yes, you can reach more potential clients through the Internet, for that you need a reliable website hosting company to be sure that you can accommodate all visits and not fall flat on your face by getting error messages when your company website becomes popular.

If you can a web hosting company that can provide you a website builder software, so much the better. That way, you will not be having a hard time building your website especially if you are not really a techie person and do not know much about HTML and all those stuffs.

But just in case you do not have the software you needed to build your website, be sure that you hire an expert to design your website for you. Yes, it could mean an additional expense, but it is really worth the investment. A good website design can make or break your online business.

For one, you need to make your website user-friendly and interactive. Your visitors must know how to reach, make buying online easier just they see something that interests, and must have many options on how to pay their purchases, like Paypal, credit cards, debit from their bank accounts, etc. You are lucky if you know how to do this all by yourself.

Try to find out if your web host also has a blog web hosting services because it could be an additional marketing tool if your business has a blog where you can promote new products, sales and promotions, and the like. Search engines seems to be more blog-friendly, that is why it is a good idea to have a company blog, it can your company more popular on the web.

The bottom line is, have a website, get online. It is what most entrepreneurs are doing right now.

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On getting loans for capital

Roy — Mon, 24 May 2010 14:07:33 +0000

Many believe that the best way to get out of the rat race is to be an entrepreneur. And they are right. However, usually the problem of mos aspiring entrepreneur is where to get capital. Personal Loans are usually that way that most entrepreneurs start, that is after exhausting their savings, and they still need additional capital.

When getting personal loans, be sure to find the one with the least cost. Meaning, the one with the lowest interest, or no interest if possible. Like borrowing from parents, friends and other relatives.

Payday Loans or salary loans comes the next option for most employed individuals. While this already has costs involved, that is interest on the borrowed amount, it does not require any collateral. Usually a certification of employment and/or a proof of salary received.

And then there are some who rely on pawnshops for additional capital, where they bring their jewelries or anything of value accepted by the pawnshops.

Business Loans usually come last, and this is for established businesses who needs additional capital for expansion. These types usually require documents like financial statements and there might also be a need for a collateral to secure the loan.

Whatever is the choice of funds sources, it is important that the borrowed money be used for their intended purpose and should not be diverted for another expenditure, no matter how tempting it can be. An entrepreneur must learn how to be prudent and practice delayed gratification.

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Website security testing

Roy — Mon, 24 May 2010 13:45:03 +0000

Website Security Testing and the Importance of a Daily Website Security Audit

Living in a bad neighborhood, it’s important to know where you can safely get a nice meal and a drink, as well as the back alley places you should avoid because gunshot wounds tend to be unhealthy. Websites are the same way. You don’t want to shop someplace that’s not safe. You’re laying down your banking information in plain sight. If the website doesn’t undergo website security testing, you might as well be waving $20 bills in some dirty back alley and asking to be robbed.

Website security makes your website secure, not only for yourself, but the safety of your customers and their information. When you undergo a website security audit, all your systems are checked thoroughly so that you and your customers can rely on a safe and secure website.

Most companies typically report nearly 2/3 improvement in sales after undergoing website security testing. If they pass their Website security audit, they can display their website security seal to instill consumer confidence. If a hole should be found in the security system, they are given details on how to fix it and time to get it done. Assuming they fix it in a certain amount of time, the business can still display the security seal so there’s no lag in consumer confidence.

It’s is critical to hire a company that will perform a website security audit daily. You need to be absolutely sure your system is secure. If it’s not, you need to know right away so you don’t compromise your customers’ information. A website security seal earns your customers trust, but only if you’ve undergone sufficient Website security testing.

You wouldn’t shop in a blind alley, nor should you shop at a website that doesn’t undergo website security testing. Your customers know the importance of website security. Show them they can trust you by undergoing a daily website security audit. Don’t put the financial futures of your customers at risk. Prove to your customers that it’s safe to shop at your website.

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GCs without expiration date soon

Roy — Thu, 20 May 2010 17:10:57 +0000

A new ruling on the issuance of gift certificates (GCs) might be issued by the Department of Trade and Industry (DTI) soon. If the DTI will have its way, it wants GCs to have no expiration dates. It is expected to come out with the decision on the matter next month.

The issuers of gift certificates like the Philippine Retailers Association (PRA), were given until the end of this month to study the proposal of the government to remove the expiration dates of GCs, according to DTI Undersecretary Zenaida C. Maglaya.

The reason for the removal of the expiration dates on GCs, Malaya said, is that the certificates have already been paid for and that the issuing company has already received revenues from it. Therefore, it is but right that consumers are able to buy something with it.

Usually, the gift certificates have a validity of two years from date of issuance, after which it is considered expired, said Maglaya. However, she said that the PRA is wary of the occurrence of counterfeit gift certificates one the expiration date is remove.

The PRA instead, is suggesting that they re-validate the gift certificates after certain period, which could result to added costs to the merchandisers, which would then could be passed on to consumers. That is why the DTI is opting for the no expiration policy, instead of the re-validation of GCs.

Maglaya said they will issue a department order by June which will cancel the expiration date of gift certificates. She added that the gift certificates issued by Rustan’s Department Store have no expiration date.

Aside from the expiration date, the DTI is also looking into the policy of stores that gift certificates must be used in full. Maglaya said there are gift certificates worth P1,000 up. Consumers must be given leeway on these.