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Payroll loan prospect for investors


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Paul

Paul,

Are you looking to open up a retail brick and mortar Payday loan business whereas clients would come into the store and request a small loan until their next payday? I have some background on this if you need some advice. Incidentally, the payback method on these loans is typically done by personal check and checks for the class of people that would take out payday loans here doesn't really exist.

 

First, I am not the one doing this. I am helping a friend, basically, by getting others who may be interested in making some money (more than you will in most markets, currently) on their investment. Opening a full service shop is not what they have in mind, because then you are talking about going up on interest rates in order to cover your overhead.

 

One of the primary reasons (other than him making some money too, of course) they considered doing this was, to help lower the interest that these same people are paying out currently. If he saves one employee Php 50 per week, that is a start isn't it?

 

Just for the record, I make nothing, nada, zero, wala, off anyone else's investment. I get no kick backs, no commissions, no nothing. I will make exactly the same thing everyone else will, if they go into this.

 

So, if people want to give it a try, great. If they don't, then that is fine too. I'm not trying to twist anyone's arm here. I am only offering something that would be a much better investment, in my mind anyway, than others I have even been involved with in the past.

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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!'   60

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 i

Paul,   I seem to recall, some not even willing to give Perry Gamsby's 'Squidly' Business Venture, a try?   I know 5%pm is not as 'extortionate' as some who have replied to this 'Thread' have sugg

Paul

One thing is for damned sure. If I ever come across something I think will be beneficial regarding any sort of investment for members, I will do only one of two things:

 

1. I will just keep the deal to myself.

2. I will post the message and lock it. If anyone wishes to contact me, they will have to do so off the forums.

 

It is always the same. The naysayers just always have to have their 2 cents, when these same guys / gals would never consider even putting a single piso into an investment here. So, why even post, unless you just wish to stir shit?

 

I mean, with all the years I have in the Philippines, and with my name all over the internet, why would I risk my reputation by trying to screw someone out of a lousy Php 60,000? That would be pretty damned stupid to risk my reputation over something like that, wouldn't you think? Geez, man.

 

People never cease to fecking amaze me.

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TheMatrix

One thing is for damned sure. If I ever come across something I think will be beneficial regarding any sort of investment for members, I will do only one of two things:

 

1. I will just keep the deal to myself.

2. I will post the message and lock it. If anyone wishes to contact me, they will have to do so off the forums.

 

It is always the same. The naysayers just always have to have their 2 cents, when these same guys / gals would never consider even putting a single piso into an investment here. So, why even post, unless you just wish to stir shit?

 

I mean, with all the years I have in the Philippines, and with my name all over the internet, why would I risk my reputation by trying to screw someone out of a lousy Php 60,000? That would be pretty damned stupid to risk my reputation over something like that, wouldn't you think? Geez, man.

 

People never cease to fecking amaze me.

 

I learned weeks ago while trying to help a few members with their health, that some members love stirring shit here for the sake of... well, not sure, but they sure are miserable and it is obvious that life is clearly a "waiting room" for many of them.

 

 

-

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Paul
Will you give payouts monthly? quarterly?

 

They can be monthly, bi-monthly, or quarterly. They can be sent via wire, or deposited into a bank account for you.

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Thanks. When's the deadline for people who might want to join?

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Paul

Right now any monies to be invested will be due by August 1st.

 

Once he has reached Php 60,000, it will stop, unless they get more employees who will need advances.

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unless they get more employees who will need advances.

 

 

How many employees does he have ?

 

What is the average loan amount ?

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So, the owner loans his employees for interest and their payments are deducted from their atm during payday. Small chance of default because he will hold the ATMs. It's a sound business model. ;) And people will move their money to this scheme because its cheaper than 5-6 :(

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Paul
How many employees does he have ?

 

What is the average loan amount ?

 

I need to clarify something here. These are city employees, and possibly employees of large chain stores who are going to be the clients. So, I am not sure of the total number. This is why they wish to start out with Php 60,000, total, by August 1st. If things pan out, or if there are more employees to deal with, it can grow from there.

 

The loans are short term, so, I would think no more than about a week, possibly two week's wages at one time. Understand, though, the loan amounts will work similarly to 5/6, so the full amount would not be loaned against their salaries.

 

The risks will be minimal due to loaning the money across the board to a number of different employees. All employees would have to quit their jobs in order for the investors to lose.

 

Also, yes, the ATM cards will be held by the persons making the loans.

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Paul

So, the owner loans his employees for interest and their payments are deducted from their atm during payday. Small chance of default because he will hold the ATMs. It's a sound business model. ;) And people will move their money to this scheme because its cheaper than 5-6 :(

 

For the most part, yes, this is correct. Except, the employees are not his direct employees.

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

 

AAaahh you are forgetting yourself .....

2 good 2 B true BUT ??? U are with uszszes .. :(

 

Eagle Tom

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

 

AAaahh you are forgetting yourself .....

2 good 2 B true BUT ??? U are with uszszes .. :(

 

Eagle Tom

 

Tom, what is "uszszess?" I don't know that one...

 

 

Paul, I'll might throw in $100, if that's the minimum. Keep us posted...

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mattwilkie

Paul's current venture is fair. I have my own ventures as well which are a lot more risky as I cut rates from 20% a month to 10% which may seem high to people here but believe me if you researched the number of people involved in lending that either lose everything or get murdered its a fair deal. The other thing is I don't lend to people generally only businesses to reduce my risk but also to protect people themselves as its "stock values" I deal with as they can quickly churn the stocks over.

 

Now would it work in the West? It does!! I used to max out my credit cards on a Friday go to a wholesaler load up with stocks work Saturday and Sunday then stick the money back on my cards. Well that is what you can do with a credit rating. Here the people generally aren't so lucky banks won't lend to them yet they still need to keep their businesses churning over. They lack capital to get above a threshold that they can afford to own all their stocks at the same time they would no doubt lend more as business is good. Point being its not so black and white as a lot of people assume it is. Most of the markets survive on lenders because if people didn't loan them money they would never be able to buy wholesale stocks.

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Paul
Paul, I'll might throw in $100, if that's the minimum. Keep us posted...

 

Cool. If interested, it is Php 5,000 minimum, for a minimum length of two months.

 

I will PM you more information.

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