Today we will learn how to do lending business in Philippines, the requirements, and tools you need.
The Republic of the Philippines is a country in Southeast Asia, with 7,641 islands divided into three groups: Luzon, Visayas, and Mindanao.
The Philippines is a tourist destination starting a lending business will surely boom, you will get clients both local and international.
Yes, consider this saying: “Interest on debts grows without rain”, merely meaning whenever you lend money there is always an interest you receive on payment.
This business involves cash and clients, besides you also have to be registered by a country’s laws and regulations. You just can’t begin lending money out of thin air.
Before getting registered by the Securities and Exchange Commission. your company name should contain; “Lending Company” or “Lending Investor” or any other word descriptive of granting loans to the public except words commonly used to identify financing companies shall always be included in the corporate and trade name.
Having learned about the Philippines here is software that will help you in the lending business. Microlending can be a ticket to riches, but before getting there, you need to know how to operate the business.
You need not worry much because Jisort got you.
Is a credit management software that helps Banks, Saccos, Microfinance, Lenders, Cooperatives, Credit Unions, and other MFIs. It’s fully integrated with Mobile Money and Banks.
Jisort has been up and running for 6 years and offers to provide the following full integrations:
Since it’s fully integrated with mobile money and banks it works as a record keeper for all the transactions done.
Whenever you are registered to this software all your client’s information is safely backed up and all their transactions are always recorded.
The simple dashboard of the Jisort platform, where you manage your loans and your client’s data.
Here is the dashboard of loan approvement:
Besides you can also generate reports about a certain client, in a simple and easy way.
The software payment models are two:
The per-user model and bulk users that each have different offers.
Jisort uses the latest technology and security to develop the software and has been developing software for both local and international markets.
Well, for those who want to get started click here.
Money lending in a foreign country is a bit difficult but once you put commitment and learn about the market it becomes easy.
Also, learn all about their regulations and make considerations to where you want to land with your idea.
All the best as you consider venturing into how to do lending business in the Philippines.