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Payroll loan prospect for investors 5% / month, 60% / year

#1 User is offline   Admin 

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  Posted 22 June 2010 - 09:20 PM

Program: Payroll loans for city and other employees.

The particulars of the investment will be as follows:

This program starts on August 1, 2010

Investment amounts will be in blocks of Php 5,000.
Minimum time to invest will be two (2) months.
Anyone wishing to pull out must give thirty (30) days advance notice.

The total amount anticipated at this point is about Php 60,000, total.

If you become involved in this, payouts can be by choice, cash, check, or deposit into the investors bank account. (If check or bank option is chosen, further information will be needed from the investor.)

Earnings will accrue at 5% per month, yielding a return of 60% per year.

If you are interested in doing this, please contact me directly, via email: paul (at) kitakits (dot) com or cebu (at) livingincebu (dot) com

Please note: This is a post for friends who makes loans. I trust them.

Thanks,

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#2 User is offline   Elinel 

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Posted 22 June 2010 - 09:26 PM

Could you expand more on how this works?!

TA!

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#3 User is offline   Lorenz 

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Posted 23 June 2010 - 02:05 AM

View PostElinel, on 22 June 2010 - 09:26 PM, said:

Could you expand more on how this works?!

TA!


Yes i like to know also how this works. What is the chance of loss of principle.



#4 User is offline   booger10 

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Posted 23 June 2010 - 02:17 AM

yes, please let's have more info, paperwork, etc.

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#5 User is offline   Baldy 

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Posted 23 June 2010 - 02:27 AM

Do you guys never get tired of scaming people or are you just that stupid that peolpe with money are that idiots.?

Who the f**** give a annual interest of 60%?

Geezzz, get a grip ffs!'

60000 total hu?

So if you want to loan 60000, why you want to pay annual 60% interest+ geezz...

You guys never stop to amuse me...

I get so pissed about this investment threads.

The bank will give you 3% annual if you are lucky! On 60000peso..

This post has been edited by Baldy: 23 June 2010 - 02:32 AM

A strong body makes the mind strong. As to the species of exercises, I advise the gun. While this gives moderate exercise to the body, it gives boldness, enterprise, and independence to the mind. Games played with the ball and others of that nature, are too violent for the body and stamp no character on the mind. Let your gun therefore be the constant companion of your walks. Thomas Jefferson

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#6 User is offline   musicman666 

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Posted 23 June 2010 - 02:33 AM

loan sharks get me down..

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#7 User is offline   Kreole 

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Posted 23 June 2010 - 02:44 AM

View PostBaldy, on 23 June 2010 - 02:27 AM, said:

Do you guys never get tired of scaming people or are you just that stupid that peolpe with money are that idiots.?

Who the f**** give a annual interest of 60%?

Geezzz, get a grip ffs!'

60000 total hu?

So if you want to loan 60000, why you want to pay annual 60% interest+ geezz...

You guys never stop to amuse me...

I get so pissed about this investment threads.

The bank will give you 3% annual if you are lucky! On 60000peso..


This smacks of a classic Ponzi scheme. 60% per year return is so totally unrealistic that that red flags should be popping up in all directions. A couple of brothers pulled this off for many years in Costa Rica where there were a lot of retired Americans who fell into it. I mean how could you lose? Until the government stepped in and the whole charade collapsed. Some say that the scheme could have gone on indefinitely because it was just a money laundering scheme for drugs, which may have been true. If that was the case, then it could have gone on indefinitely because money laundering is a really big business that is practiced by some of our largest banking institutions such as J.P. Morgan, Bank of American, etc. Except they do not get policed for such activity although they are caught from time to time and then claim ignorance. Banks are, by definition, a mafia of thugs and scammers looking for every possible way to maximize their profits at the expense of their customers. But that is another story.



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#8 User is offline   David_LivinginTalisay 

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Posted 23 June 2010 - 01:00 PM

View Postmusicman666, on 23 June 2010 - 02:33 AM, said:

loan sharks get me down..


Yeh, Loan Sharks. or 'Bombays' or '5/6ers', that lend '5' and demand '6' back!

Scum of the earth, but many poor Pilipinos resort to them as they cant seemingly find any alternative, such as Rural banks?

So that is 20% Interest they are charging.
But that's not 20% per annum, nor 20% pm usually but 20% per week or even 20% per day in some cases!

Work out the APR% on that!

I wonder how many of thise who are quick to post 'SCAM' at any mention of making 5%pm is mentioned, have any REAL experience of the real cost of borrowing money if you need it quickly?

When my wfe's Mama had a 2nd Stroke and Heart Attack in November 2008, and we had lost the income from Banks and Pension Plans, I turned to a Rural Bank for a Loan.

I was paying 3%pm, and that was considered to be a LOW Interest Rate, as 4% or even 5%pm was often quoted, especially for unsecured loans.

When Mama later died in February 2009, and there was Php540,000 outstanding Hospital and Doctors Bill, they wanted to slap 3%pm late payment Fee penalty onto the Bill.

Do you realise what Php540,000.00 compounded @ 3%pm becomes after 18 months?

Php946,803.30 is what my calculation comes up with, which is a ridiculas amount for a Php540,000 bill owed by a dead peson.

I told the Hospital Administrators, they better take us to Court, as I had settled all outstanding Bills to end of November 2008! I had not agreed to keep Mama alive artificially after that, and I had not signed any 'Promissary Note'. as security! My wife was emotionally stressed, with the death of her Mama, when the Hospital thrust that Form in front of her, demanding she sign before they will release Mama body. I added my wife never sought my permission to sign such, especially when I discovered they wanted the 'Land Title' on our house/lot as security for such Promissary Note!

I offered to pay just Php600,000 over 24 x monthly installments, and added if f that was not acceptable, they better take us to Court.
In Court I would bring up the fact that the PDIC are extremely slow in poricessing claims and we have evidence of them delaying pay outs of our Insured Deposit claims.

It was a good job the Hospital agreed to my Terms, as I would not want to face paying nearly Php1 now if the Courts upheld these late payment charges being imposed by the Hospital!

I don't hear anyone shouting that the hospital is running some sort of SCAM, by trying to impose 3%pm compounded, onto unpaid bills!So will some Members here get REAL over the cost of borrowing Money here in the Philippines, as it is bloody expensive. So if the cost of BORROWING is high then those LENDING Money can get HIGH Interest on such.

Ok so there is the RISK of non-payment, but have you READ the Terms and Conditions of many Promissary Notes associated with such LOANS?

I am not a Lawyer, no legal training or experience, and certainly have no experience with Law Courts in the Philippines dealing with people who renage on such Loans having signed such Promissary Note Terms and Conditions, either.

I bet most who sign such do not know what would happen in Court if they failed to settle such loan. I think you will find however most of those who do borrow under such conditions are aware of their obligations and do think they don't want it going to Court and will try their best to honor the debt.

I read that of the borrowers taking out loans from Rural Banks, the Bad Debt for non payment is only about 13%, and in reality such bad debt having been written off, is not then reflected if such borrower eventually repays what is owed, some time after it was declared a bad debt and written off, so actual non-payments, is most likely lower than that 13% approx figure.

I am actually earning 5%pm on Php1M that I invested with a local Family business for a 6 months 'term', as they wanted to take advantage of increase in rice and sugar price hikes and increase their profits drastically by increasing shipments four fold.

Of course if this Family could have arraged bank loans at much better rate, they would have done so, but then missed out on many months of increased profits, whilst such got approved.

This Family owns lots of Land Titles, that they could Mortgage or Sell, to raise more Capital to pay for increased purchases of Rice and Sugar from Traders in Thailand and Malaysia where these commodites are much cheaper than current prices in the Philippines.

Anyone tried arranging a Mortgage on Land Title recently - how long did it take before they released the funds?

Any currently selling Land and if so did you find a buyer willing to pay the asking price, and how long was such real estate on the market before you got the money? What was the real cost of selling that land and having to pay the Taxes etc

Stop and think about the 'logistics' of having the funds to buy 'X' bags of Sugar @ 'Y' price from a Trader in Thailand or Malaysia.
So you need x * y to buy such, then there is the cost of shiping same from there to Cebu and the cost of clearing through Customs and the cost of transporting to Wharehouse and Distribution to the Client Buyers. You offer such Clients 30 Days Credit Terms, so is 2 months before you make good profits on such Shipment, especially with the increased prices here in the Philippines compared to waht it was bought for in Thailand or Malaysia.

I have done the math on this and I can see what sort of profit to be made in just 2 months on each additional 40' Container that is shipped.
For arguments sake let us say this profit is 40%.

So can this family afford to offer 10% payout over that same 2 months it took to realise their profits, to those who gave them the funds to make this additional 40' container shipment happen? They made 30% profit on that additional shipment, from the 'Angel Investor' who gave them the funds to make it happen. So even if the 40% profit was wrong and it only 30% or even 20% Nett Profit, they will have made the same, but most likely MORE THAN THEY PAID TO THE iNVESTOR.

So could it be a Scam or a PONZI scheme?

Sure it could, but is UNLIKELY? Why - because these imports of Herbs, spices, and increasingly more rice and sugar, is what forms the bulk of this Family Business profits, rather than Bake shop franchises. What is more they have their REPUTATION and INTEGRITY to uphold if they want to continue business with their clients who are some top name Hotel chains, Resorts, and Restaurants. What would adverse publicity to to such reputation and integrity if it were announced checks issued by this company were 'bouncing'?

Look I am not 'promoting' or trying to sell you on also putting your money into this same family business. In fact I would rather you didn't as it will only encourage them to increase shipments more and put further strain on cash liquidity. I want them to start reaping the profits on exisiting shipments, not funding further increases to get even more profits. They have had time to arrange Bank Loans now and possibly sell Land Title they own. However this Family say they still struggling to cover the customs duty charges as they overstretched themselves by finding the funds for 40 x containers per month and this still giving them cash flow problems for a few more months until they 'catch-up'.

So I agreed that I would 'share' about this good ROI that I am getting from lending funds to thier family business, so they can fund these increased shipments. If anyone interested, send me a PM and I will give you the contact details of the owner of this Php50M capitalised company that I have/am earning 10% bi-monthly with from lending them funds. You will deal directly with them and can arrange meeting to learn more, see documents, Rice Permits, Invoices and Shipping Bill of Lading etc

I need the money to pay off that Hospital Bill and cover the losses from other investments that were not successful. I then intend to put my capital into Real Estate.

As long as you win more on the roundabouts, than you lost on the swings, you will come out ahead.

This is why I cant understand all this immediate negativity towards the 5%pm that Paul (Admin) posted about, without getting the real information behind how it is achieved or anything.

If you can PROVE it is a SCAM then give the facts and information to support such allegation or just wait and see.

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#9 User is offline   Willie 

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Posted 23 June 2010 - 01:03 PM

Thank God I've FINALLY lived long enough to learn that if it sounds too good to be true, it ALWAYS is....

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#10 User is offline   Ozepete 

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Posted 23 June 2010 - 02:05 PM

Posted Image

View PostBaldy, on 23 June 2010 - 02:27 AM, said:

Do you guys never get tired of scaming people or are you just that stupid that peolpe with money are that idiots.?


Geezzz, get a grip ffs!'

60000 total hu?

So if you want to loan 60000, why you want to pay annual 60% interest+ geezz...

You guys never stop to amuse me...

I get so pissed about this investment threads.

The bank will give you 3% annual if you are lucky! On 60000peso..



Who the f**** give a annual interest of 60%?

Who the f**** give a annual interest of 60%? REALLY!! Go to the Philippines, get away from the fancy hotels, find one of the millions of poor locals (the average person) and ask him to go borrow money and I will bare my arse if they can do better than 60% more likely to be a 5/6 deal, that is 20% per month, from the scum bag money lenders.

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