how can u make a 300000php (equivalent to $100000) in half a year?

Philippines
July 30, 2012 8:36am CST
we are making preparations to start a business. we need that much for capital. aside from working 24/7 in three different jobs... (which btw would be virtually impossible to do.) what else can i do to raise that much moneey in half a year without resorting to illegal activity?
2 responses
laydee
@laydee (12798)
• Philippines
30 Jul 12
You can borrow funds from your bank and other financial institutions. If the company is a corporation, you could issue stock in order to get more investors and thus, get more funds. It's not all about working your bottoms to raise capital. There are other forms but surely it would need more than 'employment' to get you there. Banks and financial institutions require papers and support that you could pay off debts or borrowings. Remember there are 2 types of borrowing from the banks and financial institutions - the short term and the long term. Have a great MylOt experience ahead!
laydee
@laydee (12798)
• Philippines
2 Aug 12
Perhaps in your area they don't, but in mine, they do. Further, if you can't produce a sound business plan then perhaps the business shouldn't be done in the first place.
rbrapsing
@rbrapsing (39)
• Philippines
9 Aug 12
Since you guys are in the offing, creating and establishing a business, I would assume that you are no longer in your drawing boards. You guys are now trying to find funds to finance the operations and get it all starting. How many are you in the business? Since you're on start-up phase, no banks, I would assume again you're from the Philippines since you're after PhP300k, no bank would allow you to a loan unless you guys have some collateral. If there are 5 of you who will be registering the company which has to produce a paid-up capital to closely around PhP62.5k if you have decided your company's authorized capital upon registration is PhP1M. Each one of you, other than what you have produced as your paid-up capital, can apply for personal / multi-purpose / salary loans with either Pag-ibig or SSS. That is if you guys have a regular day job. If what you're trying to start is about development you can lobby and submit your feasibility study with either DBP or DTI, both Government Financial Institution (GFI) has a window dedicated to support and assist start-up Small Business Entrepreneur (SME) funding their projects.