Indian National(5-6 business in the Philippines)

i do not know whether it is to offened Indians? do you know that all indians do so? I don't think so? or indians are there in Philippines for that only? why then your countrymen take money? they can very well avoid them, right? I guess they are there as those people are dependent on them.

you know what I was just telling my hubby about it. I said to him oh daddy you know there is this guy from India who says his wife is very good at bargaining on vendors who knocks on their houses and sell stuff and charge like 2 to 3x more the real price of the product, I said to him, it is so amazing because they have that kind of vendor there like here in our country, he just laughs at me and says, hey don't you know that the concept of vendors going through the houses cam from India, it is them who brought here that concept. so funny, and to your question, well I guess as long some people would ride on it then they would stay on the business. Well that is 5-6 and a lot of people do get benefits from it, it is very convenient to them, and very risky to the Indians

Well if their borrowers are good in reinvesting their money into their trade then it could help them but with 20% it is most likely that it may fail them more since the interest is just too high. The only advantage they get from it is that it has no collateral and no more of that credit investigation that the banks usually do before they lend you the money. But it is very risky to do it especially when its time to collect the money lend too that is why they offer high interest rates to their customers.

There are Indian Nationals here in our place and a lot of them are rich. They own emporiums, money lending and other businesses here. They are peace loving people who lived here for many years. With regards to interest, well, its business. Some people really need money, so they are forced to lend even at high interest rate. Life is really hard nowadays, so they resort to that. Sometimes it could help, but sometimes it could lead to a more bad situation.

The intention is good but the execution is bad, just like in playing tennis. A player might have the best intention where to drive the ball but if his execution is bad, the intention is just useless...If they would have lowered their interest rate, then the execution would have been better.

These small merchandise stores otherwise locally known "sari-sari" stores are in their little ways paying taxes in the locality, these Indian Nationals in the Philippines are not, I think these should also be look up to by our government which in this case ought to be collected taxes as well. Thriving with a meager profit, small stores are being hard up paying their lended money. Contrarily, the Indian Nationals also should be given appropriate laws that would also protect them and tariff for their business.

i think they can help the filipinos to start a business but they are just asking too much for an interest, and the filipinos would still go to them because they dont ask for colateral or any requirements unline banks and other money lending institutions. but it's sad that they are asking so much for interest..and if these people have money, i know they will surely not go for this 5/6 lending.

to run a business you need capital, and capital for business is sometimes obtained through borrowing and for small time entrepeneurs like sari-sari store owners and vendors they usually have a hard time borrowing money from banks or other lending institutions because of these companies' stringent sometimes unfair policies and requirements. Yes, borrowing for these people is bad for the vendors, bad for the end consumer and bad for the economy but these people have no choice that's why these Indian lenders are doing such good business here. You want them gone? Find a way for our micro business owners to be able to secure cash.

I have nothing against them but they earn a living here in the philipphines and yet they dont pay tax. Aliens in our country has no right to earn a living unless they have a business license or working visa and that goes for us also if we are out of our own country or on abroad. The interest is way too high compare to banks and other lenders I suggest they go to other money lenders whom are also filipino they make good offers compare to those money eating 20% interest.... This will only be another downfall for them. Observe and you will know what I mean...

The so called SOBS from India in the Philippines are mostly of SIKH and Hindu religion and coming from a crap state called Punjab and belong to a backward ethnic group called punjabi. These uneducated human trash got to the Philippines illegally, exploit the natives, break the immigration laws, engage in petty crime, nothing short of domestic terrorism, have already brought a bad name to the 3000 other ethnic groups of India that the Philippines has never seen. Either send these dogs back in coffins or in ships to their garbage they came crawling out from, or stop whining about them. Already Filipinos are busy shooting them, stabbing them, kidnapping them, and the philippines is already seen as the most dangerous nation for Indian citizens. NO educated, class person from India would ever engage in this kind of shameless exploitation of Filipinos or any other nationality. Had this been Iraq or some Islamic state, these Indians would be lending their dirt bag cash to the devil himself 6 feet under the ground. The spineless attitude of Filipinos itself can be seen how they deal with such illegal Immigrants. Take it from an Indian here, these human garbage floating around the Philippines, calling themselves as"bumbay" or whatever , has become a headache for Indians such as myself who have to put up with the sickening stereotypes of Island honks like you. I would be grateful to any Filipino cop who can send them home either sitting up, or laying straight. Whatever the choice. Next time learn to import engineers, doctors, or academics from India. Not Human trash on motorcycles, flowing through the sewers of Manila.

I have two cousins both whom have married Indian nationals who are money lenders. I have seen from first sight how their business operates, by waking up at 7am going to the market, walking around in the boiling heat collecting money, coming home at 9pm absolutley k.o'd then doing it again the next morning. I understand the animosity Filipinos may have against Indians, just like the ill feelings of any other foreigner whom comes into the country who wants to run things like they own the place. Its not just only Indians, Koreans are flooding in, Japanese, Australians, Germans etc I can go on. The fact is, money=power as it is viewed by most. These Indians are here to make a living just like everybodyelse. Their intentions are not to help the country alleviate poverty, just like any other loan shark, they see the opportunity of the poor filipinos and exploit it. Interest is 20% flat, my bro in laws can lend anything from 100 to 500t depending on who it is and what collateral you can give. They simply build go around building cliental with relative ease, each client is giving a small note pad which holds the accounts records of payments due and owed. All cash collected on the day a day basis and is changed by the big boss (usually the uncle who recruited the money lender in the first place). These Indians are not your standard english speaking college grads, my bro in laws cannot speak english apart from knowing numbers. They are from a poor background and understand the work hard play hard mentaility to survive in our country. Their tagalog is imepciable for an Indian national, they have a charm and likeness about them which helps build their business and reassures clients that they are just as human as them. The fact of the matter is you need money to make money, If it wasnt for these money lenders what would happen to the market businesses?, sari sari ?, etc. They provide money which no one is willing to offer. At the end of the day, the majority of indians have adopted to the filipino way of life, and are now part of the community. They help keep alive the people who our government have forgoten about regardless of their 20% charge. It is not the Indians fault, i dont say they should be praised but the filpinos have to accept reality, would life for the poor filipino be better without them?

that's true there are so many indian here in philippines and doing 5-6 business. do you know that the indian people are the most approachable people here? when its come to emergency need can you lend from bank, lending companies, etc? i think no.. one more thing to be note to who says that they don't pay taxes. do they ever try to ask from acct offices, bir, barangays and munisipyo if they are paying tax or not. now a days not only indian nationals are doing 5-6 business the koreans, vietnamese, and Filipinos to. do they also pay taxes? if 20% interest is to much try to compute it if they lend you money for 120 days(4 mos) it ill be only 5% monthly which is fair enough comparing to the lending companies which ill ask you for requirement and collateral. according to illegal stay and human smuggling in philippines it only happens due to corrupt officers.

i want to settle in philippines can u please help me

Now I read the whole thread..and I totally agree with LakeOfFire... Get rid of these people....the devil always comes with a smile on his face... and regarding the argument of 20 % for 4 Months is only 5 % per month...this is absolutely bullshi.... Lets say you borrow 1000 Pesos..then you have to pay back a total of 1200...doing this 3 times a year...you will have paid 600 Pesos only interests!!!! Basically this is an interstrate of 60 % per year...and whoever argues that this is ok in whatever way does not know what he is talking about.. These people no matter if Indian...Korean ...Japanese or even Filipinos are taking advantage of the hard life of these poor people and exploiting them even more... There must be somewhere Filipinos with influence and money..with love and pride for their own people and force government to initiate a change...or it will end up bloody!

They are not helping enough to those vendors because they are taking ore interest, sometimes it is good to have them because we can get what we need even all is cridet, but the time of paying those cridet we feel that is to high than the normal price in the market.