Unless you can borrow from a close relative or friend, you may also want to consider getting a loan from a bank. Have you ever received a call from accredited service providers of major banks, offering cash loans without collateral? With minimum requirements such as Certificate of Employment and payslip and with the ease of phone transaction, your loan can be processed within a week. Just be careful on the pieces of information that you give over the phone. They may use these for other purposes. When in doubt, go directly to a bank and inquire. The loans officer will gladly assist you with your needs.
Getting a loan is the fastest way that you can put up the capital to start your own business. One burden though, this comes with an interest rate from 1% to as high as 3.5% per month or 42% per year. For a loan of Php 50,000 at the rate of 3.5%, you may have to shell out Php 1,750 per month for interest payment.
