Category: Press Room

Recent data from the Insurance Commission showed that a total of 26.6 million Filipinos are covered with microinsurance as of the end of first quarter of this year.  The industry is optimistic that microinsurance coverage will increase to over 31 million Filipinos by end of this year as more products are offered at very affordable premiums. One type of microinsurance being offered is TodaCARE, a Group Personal Accident insurance policy by one of the leading and largest non-bank financial services provider in the country.

In the Philippines, all vehicles must have an insurance prior to the approval of their registration at the Land Transportation Office (LTO), whether the vehicle is for commercial or private use. The basic coverage required shall answer for the death, disablement and medical expenses incurred by a person injured because of an accident that involves your vehicle. This includes Public Utility Vehicles (PUVs).

An example of microinsurance for PUV operators is CebuanaLhuillier’s TODACARE. This policy is a Group Personal Accident insurance specially designed for transport group leaders, officers and members. It covers:

Accidental Death

Disablement & Dismemberment (ADD&D)

Permanent Total Disability (PTD)

Murder and Unprovoked Assault (MUAAccident Medical Reimbursement (AMR)

Burial Benefit (accident/sickness)

Accident Daily Hospital Income (DHI)

This insurance policy only requires a minimum number of 10 enrollees aged 18 to 65 years old. Individuals above 65 years old,may be accepted but subject to 50% cover of the total sum insured for all benefits.

Cebuana Lhuillier’s TodaCARE microinsurance policy offers 24-hr protection for tricycle, taxi and jeepney drivers against accidents.

The coverage of TodaCARE by Cebuana Lhuillier’s Microinsurance are as follows:

• Accidental Death, Dismemberment & Disablement (Php 50,000)
• Accident Medical Reimbursement (Php 3,000)
• Burial Benefit – Accident/ Sickness (Php 50,000)
• Murder and Unprovoked Assault (Php 50,000)
• Permanent Total Disability (Php 50,000)
• Daily Hospital Income (Php 100)

Microinsurance such as TodaCARE is a great financial innovation, add to that that this is offered by Cebuana Lhuillier makes it all the more beneficial.

1. Reap high benefits at a low premium

Similar to the other microinsurance products offered by the leading microfinancial company Cebuana Lhuillier, TodaCARE is offered at a low premium. This type of financial product best serves those who cannot afford to pay higher premium.

2. Accessible financing all over the country

With over 2,000 branches nationwide, Cebuana Lhuillier stays true to its mission to enable more Filipinos to gain access to financial institutions.

3. Easy and fast processing

Cebuana Lhuillier not only offers low premiums but it also made its services convenient to lessen the distress and hassle faced by Filipinos. Deciding to purchase a policy insurance is made easy by visiting any Cebuana Lhuillier branch near you, submitting the documents needed and signing the necessary paper works.

Public Utility Drivers face the risk of accidents every time they go out on the road to earn for their families. Having an insurance that is affordable and offered by a reputable company guarantees that there is financial assistance to take care of their families when anything happens. Taking this precautionary measure of saving for the rainy days is something that would indeed be helpful in the long run.

Decision making is a major part of our everyday life. We have to choose wisely as most of the time, making a wrong decision may get us into an unwanted situation, especially if it involves money. In this very same case, initiating to get a loan would help us receive the financial help we might think we need. However, it isn’t just a matter of you simply receiving the amount, it’s also about the requirements and policies that you’d have to follow in order to attain your personal loan. With that in mind, here are a few important questions to answer first before applying for one:

1.  Are you at the right age?

You may think that this would solely refer to 18, however, most companies and establishments would actually require you to be at least 21 years of age. Being at this particular age would estimate that a person would at least have a job and means of earning by then, not to mention, the required government I.D.s to back it up. You may ask, what does having a job have to do with getting a loan? Well, the answer lies in the next important question.

2. Would you be able to pay back?

First of all, let’s define what a personal loan is. Simply put, it is any amount of money borrowed from an individual or a financial organization. Notice the word “borrowed.” This is why it’s a requirement to have a job before applying for a personal loan, since you would not be able to pay back the borrowed amount if you have no means of earning cash. Take note of this, as the company or establishment that you would “borrow” the money from would require paperwork as proof that you indeed have a job.

3. What would be the amount that you’re going to loan?

Of course, never forget to determine the amount that you’re hoping to receive. You may need to explain this as well to the representative when applying for the loan since they would determine whether you would be approved to receive your desired amount, or perhaps lower than what you expected. Your job and monthly earnings would come into play at this point, since loaned money is borrowed money, and you can’t pay back borrowed money if your earning isn’t living up to the amount that you wish to acquire.

4. Do you have a good credit rating?

A credit rating is defined as the estimate of the ability of a person or organization to fulfill their financial commitments, based on previous dealings. So basically, this is a record of your past transactions (whether you had borrowed money in the past) and if you were able to pay your past debts or not. When applying for a loan, the establishment would look into this and determine if they can trust you to pay for the money you are requesting to borrow. A good credit score would help with your application, while a bad credit score may ruin your credibility for a loan.

5. What would be the purpose of your loan?

There is a reason why you would like to apply for a personal loan. You may either want to consolidate your credit card debt, for home improvement purposes, to invest in your business or simply to take a vacation. Regardless, knowing the purpose of your loan would help you not only receive the best deal out of the whole process but also remind you of the terms involved in the underlying payments that you would have to accomplish after a set amount of time.

After reading through our tips, the next step is to find a loaning institution that would best fit your financial needs. Look no further than Cebuana Lhuillier’s Happy Loans, a multi-purpose loan amounting to Php 5,000, Php 10,000, or Php 15,000 offered to any individual who is employed, self-employed, student, or a remittance beneficiary. Our network of more than 2,000 Cebuana Lhuillier branches and online presence give customers unlimited access and utter convenience in applying for a loan. Our five-point application to disbursement process ensures services are delivered on time. So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

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You’re short in cash but you need the extra cash to pay something as soon as possible. You think of many ways in order to earn a few pesos. However, you also wouldn’t want to waste time in trying out any other process and risk yourself vulnerable to more problems. You think of borrowing money from friends, but you had already borrowed enough in the past and are feeling a bit embarrassed to do borrow again. No worries, you can always apply for a personal loan. The question now would be, “if I apply for a loan, what are the qualifications?” Here are just a few qualifications to get a loan:

1. What to use the loan for.

First things first, why would you like to apply for a loan? What is the purpose of your application? Once you have the money, where are you going to use it? These are important questions you may have to answer in order to qualify for a loan. Lending companies would definitely like to validate if the applicant is a trustworthy person, and an honest answer would be greatly appreciated.

2. Your credit history.

Your past does define your future, especially with your credit score. If you have a clean record when it comes to paying your debts, then you have a higher chance of receiving a loan approval. However, if you have a negative history when it comes to your past obligations, then you may have a lot of explaining to do in order to get your loan approved.

3. Your ability to pay back.

A loan is basically borrowed money, so it’s just natural for the lending company to analyze whether you would do well in paying money that you owe them, before even approving your loan application. While your credit history may give a glimpse of your characteristics as a borrower and a payer in the past, the current analysis of your present means of income would give them an idea whether or not you have improved your ways in paying your debt/s and are actually capable of repaying this borrowed amount.

4. Your payday loans are also checked in the process.

According to a recent report, “some lenders also check out your bank accounts and lines of credit that aren’t reported to the credit bureaus. Short-term loans, sometimes called ‘payday loans,’ are an example of a credit line that usually isn’t reported.” Hence, even though some lenders use alternative types of data to supplement their loan decision-making process, borrowers shouldn’t underestimate the value of their credit score.

5. Your financial paperwork.

Income tax returns, bank statements and college records are just a few examples of these. In some cases, the lender already knows a lot about your financial situation. A sample indicator would be the so-called signature loan, a lending vehicle that uses the borrower’s signature and promise to pay as collateral. With this type of personal loan, the lender doesn’t ask for or verify much information beyond your identity. In such case, it is better to give all of the needed information and answers when asked about your financial activities before, so it may match with the “investigation” done by the lending company.

If it’s a loan you’re looking for, then Cebuana Lhuillier’s Lucky Loans should definitely be your top choice. It is a multi-purpose loan offered to registered entities such as tricycle operators, credit cooperatives and other groups, as well as SMEs such as restaurant and mini groceries, among other businesses. Our network of more than 2,000 Cebuana Lhuillier outlets and online presence give customers unlimited access and utter convenience in applying for a loan.

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Millennials love to travel. Our social media accounts are full of destination pictures, delicacy shots, and replayable landmark poses. Some of us prefer visiting our very own local sandy beaches, while others may prefer to go out of the country, to a much colder climate. Yes, vacations vary in length and destinations. However, there is one common factor that these varying vacations are always involved with, namely, the price. Travel and accommodation expenses are not cheap. Even with promos, they may take away more than a cut-off’s worth of pay, leaving you with little to no remaining cash at all. In such case, there are such things as life hacks that may help you to save up before and during your vacation. Here are just a few to keep you covered:

1. Learn to look for a local place to eat.

Tourist spots are always filled with expensive restaurants. Do not let this tempt you into spending more than what you need to. Remember, the main purpose of eating is for you to gain energy for your fun time and travel, and not to have something expensive to post on your social media page. Local dining places are a lot cheaper than restaurants.

2. Learn to commute like a local.

Tourists are often convinced by taxi drivers to take a much faster route, albeit a more expensive price. Avoid doing this mistake. Ask around for local routes and guidance with the help of locals. The good thing about this is that you would be able to take the scenic route (regardless if it’s the tropical bushes of Boracay or the winter wonderland aura of Switzerland), making your vacation more magical and social media-worthy.

3. Get into Couchsurfing.

This new trend enables you to have free accommodation at your destination, even for a few days. Basically, you communicate with the owner of the house abroad, and then, you would be allowed to stay in their home for free (in some cases, there is even free food!) This would not only provide you a chance to save on expensive hotels, but also, to learn the culture of your host and their lifestyles.

4. Try to haggle.

We are the masters of this craft, so why not do so when you reach your destination. Buying souvenirs can be costly, as the locals may take advantage of you being the tourist who does not know their regular price from those which are over the limit. A small keychain may cost more than the usual hundred, so why not bargain and ask if you may instead buy two for the price of one. It never hurts to be wise, the same way that it wouldn’t hurt to save in your trip.

5. Do your best to familiarize yourself with the place.

The internet is your friend, so use it well. Before leaving your country of origin, do some research, study their language, save up a map on your smartphone. Knowing their means of communication and their directions would definitely help you save by not getting lost and solely relying on taxi drivers to show you the right way.

6. Limit your souvenirs.

We Filipinos love to bring home gifts to our loved ones. However, you do not need to give everyone a treat, especially when you’re on a tight budget.

Of course, when we’re talking about savings you make from your travels, we’re also mentioning a place where you may keep your remaining cash in tow. If you’re a resident of Cavite and Batangas, then the Cebuana Lhuillier Rural Bank is your one-stop spot for opening your own savings account. All transactions are real-time, erasing all the hassles that you may experience in other establishments. So what are you waiting for? Visit the Cebuana Lhuillier Rural Bank now – we assure a fast, easy and secure transaction.

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The prices of products in the market commonly fluctuate, which is why we are always kept on our toes when it comes to our budget and other matters of finance. So far, 2017 has seen a couple of positive outcome, which may provide a preview of its positive outlook as well in the coming months and years. With that in mind, here are a just a few examples of the “good news” in money remittances for 2017:

1. OFW remittances hit record $2.91 Billion last March.

Yes, you’ve read that right. It’s that much. To give everyone a much statistical view, this year’s personal remittances so far booked a double-digit growth of 11.8% to a record high of $2.91 billion in March from $2.61 billion in the same month last year, eclipsing the previous record of $2.82 billion booked in December last year. When compared to a Filipino cinema movie, that equals to a box-office hit.

2. According to analysts, our remittances are expected to grow by 5% more this year.

If you think the first one was good news, then here is a better one. According to a financial analyst, the remittances by OFWs rose by 7.1% in May, rebounding strongly after a contraction in April. The May figures mean that total personal remittances for the first five months of 2017 are up by 5.2% compared to the same month last year.

3. It’s all for a good cause.

According to a recent endorsement file presented by the United Nations, “Migrant remittances lift millions of families out of poverty across the world, as well as provide invaluable support to their communities of origin. More specifically, remittances contribute to the improvement of food security, education, health, wellbeing and housing for individual families, and have a positive impact on savings, investments, and job creation in their home communities.”

4. A faster remittance processing.

Remittance centers are getting ahead of the game. Meaning, they are always on the lookout when it comes to improving their services. It is not unusual for people to choose an establishment which provides its customers with fast and easy transactions, and remitting money is now made simpler than ever. You no longer have to wait in line for a long time when sending or receiving remittances, especially when you immediately need the cash. 2017 is the year for a much improved service from money remittance centers, and receiving your money on-time is one key evidence that the improvements will not stop.

5. An expanded money remittance network.

Speaking of convenience, you wouldn’t need to go far to find a remittance center. There are various branches and expansions that happened in this year alone. Last May, the country’s most reliable and trusted money remittance company – Cebuana Lhuillier – was placed under the spotlight with its expanded domestic money remittance service through the Pera Padala Agents Network, ensuring that you will find a Cebuana branch or agent at your convenience, anywhere, anytime.

With all of these in mind, you and your loved ones are hoping for a remittance service that would only provide the smoothest transactions possible, with no hassle and delay along the way. Well worry no more, as we at Cebuana Lhuillier offer our Pera Padala Service, an easy, quick, and safe way to send and receive money. With more than 2,000 branches nationwide and more than 1 million international partner locations worldwide, this money transfer service is made available to clients within and outside the Philippines.

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Owning a business is a bit tough, not to mention would require a lot of hard work (especially if you plan in making a big enterprise from scratch). However, this doesn’t necessarily mean that you are not entitled to a few choices outside of the ordinary means of growing your business. With this in mind, here are a few examples of methods in growing a business, all of which may be able to help you, depending on your financial situation and need:

1. Open a new branch.

As with all fast food restaurants and malls, one major way of expanding your business is by opening another branch. This wouldn’t mean that you should just throw your money in one major construction, as proper timing is the key in being able to do this. Remember, you should use your money wisely, in the same way that you must, at all cost, analyze the location of the new branch, as a community with little to no population at all would render your new branch not profitable. Keep this in mind when considering to add another branch to your own business.

2. Offer your business as a franchise.

Instead of simply adding another branch, why not offer your business as a franchise? The amount of money that the franchisee would be making would ensure that you have a percentage, regardless of the profit for any particular month. It’s like hiring others to do the work for you, while at the same time, you earn from their hard work. Think of this as a way to hit two birds with one stone: (1) expand your business and make more people know about your products and services, and (2) earn additional amount on top of your main branch. Spread the word and watch as many would buy a franchise of your business, giving you more earnings in the process.

3. Alternative options.

In situations where you may need more funds to expand, business loans and equipment financing can be viable options. In this case, the business owner borrows money from a lending establishment, and then the owner has to payback with his profits afterwards. Think of it as a way to compensate for the current needs, and then being able to compensate as well for the amount that needs to be paid back after a certain amount of time.

Get an upgrade on your business venture with a trusted name that offers only the best service possible. Cebuana Lhuillier’s Lucky Loans should definitely be your top choice. It is a multi-purpose loan offered to registered entities such as tricycle operators, credit cooperatives, and other groups, as well as SMEs such as restaurant and mini groceries, among other businesses. Our network of more than 2,000 Cebuana Lhuillier outlets and online presence give customers unlimited access and utter convenience in applying for a loan. Our five-point application to disbursement process ensures services are delivered on time.

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You’d like to sell one or two items from your home in order to earn a few extra cash. In such case, you would like to make sure that for every item you sell, you would get the highest return.

There are various ways to ensure that you get the optimum amount for the items that you will be pawning. Here are a few pointers to consider to get the best rates in pawnshops:

1. Do your own research.

Know the value of what you’re selling. Consider the condition of the item as well. You see, it’s not just about wear and tear; it’s also about the age of the item in question. Older cellphone models would of course give you a lower return. If that doesn’t seem satisfactory, you may always add another item to pawn off to add to your return amount. Take note that pawnshops are very meticulous when it comes to conditions of the item, so be sure not to surrender any damaged goods in particular. It would help a lot if you would put the item in its original box or packaging.

2. Ensure that the item being pawned is presented in its clean and proper condition.

We mentioned that pawnshops are strict when it comes to item conditions. Now imagine if it was a dusty jewelry. Of course, you’d get a high amount for that, however, the condition would most likely be a reason for price deduction, as the pawning representatives would have to factor in the effort in cleaning the item themselves. Save them the trouble, clean your item before pawning them off, and get a high amount in return. Believe us. The pawning agents will thank you for making their work easier. Take note that mint conditioned items (regardless if they’re jewelry or gadgets) will always be put to the test, so do not even think of surrendering a subtly damaged item. They will find out.

3. Visit a reputable pawnshop.

Reputation is everything, which is why you should only transact with a pawnshop that already has a reputable stance and familiarity with its customers. While other pawnshops may try to convince you of great cash returns, there are cases of hidden charges per transaction, a fee that no one wants to pay for. Pawn your items only with the most trusted name. Save yourself from hassle, especially since you’re only looking out for ways to earn a little bit of cash.

With all of these, you may be looking for a pawn shop that would provide you with the most honest return possible. No worries, as Cebuana Lhuillier has got your back. With their Pawning Service you can never go short in any amount, as they accept a wide array of items, from jewelry to gadgets, as collaterals. They also lead the pawning industry by offering safety and the highest appraisal rate in the industry in its more than 2,000 branches nationwide.

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Every single moment, people and their properties are exposed to various natural and man-made risks. To better prepare for the loss or effects of losses from these risks, people and companies usually get insurance.

Since most insurance policies are quite costly, micro-insurance was developed to cater to the needs of people that need guaranteed protection at affordable rates.  Micro-insurance covers many health-related risks including accidental death, injury, or illness.  Damage or loss of property may also be covered by micro-insurance.

Cebuana Lhuillier, one of largest lending and money remittance companies in the country, offers several micro-insurance packages to people who need them the most.

These are just some of the people who will surely benefit from micro-insurance:

1. Barangay Officials

By the very nature of their official duties, barangay officials face various risks and threats. As the implementer of laws at the village level, they face risks while performing one of their duties – maintaining peace and order. Developed as a group insurance product, barangay officials can benefit from medical reimbursements and daily hospital income. The micro-insurance product is available to persons aged 18 to 65 who are serving in the barangay. Dubbed as TanodCare, all it takes to have the security of this micro-insurance is P165/year.

2. Jeepney and Taxi Drivers

Without a doubt, jeepney and taxi drivers are involved in a risk-prone occupation. Aside from the risk of vehicular accidents, they also have to contend with threats from criminals who pretend as passengers and rob them. These drivers are also exposed to hazardous fumes and other dangers posed by pollution. More popularly known as TodaCare, this micro-insurance product is only P165 per year and provides the jeepney and taxi drivers with many benefits including a P50,000 accidental death benefit, a P3,000 medical reimbursement, and a number of other payouts that would significantly help the accident victims and their families.

3. Tricycle Drivers

Just like jeepney drivers, tricycle drivers also face danger on a daily basis. With their smaller vehicle, they are more prone to injury and other ill effects of road accidents. The good news is, they are also qualified to sign up and receive all the benefits that come with TodaCare.

4. Security Guards

SecurityCare is another micro-insurance product offered Cebuana Lhuillier that was designed especially for those in the security guard profession. Given the higher risks of the job, the main cash benefit is as high as P75,000 for only an annual premium of P144 a year.

5. Private Car & Motorcycle Owners

Cebuana Lhuillier’s AutoCare insurance product is a good option for private car owners while those who own motorcycles may consider getting MotorCare.  AutoCare is a standard 4-wheeled vehicle insurance while MotorCare is insurance for two-wheeled vehicles, both of which include a Voluntary Third Party Liability package.

6. People with Medical Needs

PharmaCare or InsureMed is a personal accident insurance product that was developed to meet the needs of people who consume pharmacological products. Those who take medicines on a regular basis are also exposed to a number of risks, making this form of micro-insurance one of the most essential products of its kind. The amazing microinsurance product only has a P7.50 annual premium yet the benefits simply make it an industry benchmark.

7. MSMEs

Putting up a business always involves a calculated risk.  Good thing is, entrepreneurs and companies classified as micro, small, or medium enterprises (MSMEs) can now avail of NegosyoCare which includes property insurance, accident medical insurance, payroll coverage, and other outstanding insurance features.

8. Property Owners

HomeCare insurance, which provides residential fire insurance coverage, is also a very affordable product that can provide a homeowner peace of mind for only P639.75 a year.

9. Students

Not to be left behind are students who can take part in a group insurance plan called StudentCare for only P22 per person.

10. Employees

Of course, employees can avail of the benefits under Employee Care which is a group personal accident insurance plan that includes benefit payments as high as P50,000 including a daily hospital income, burial benefits, to name a few.

Indeed, even with small premiums, people from all walks of life can get significant benefits from micro-insurance.

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Everyone works hard for their salary. You would do your best to be able to pay all of your bills on time, provide for your family and overall, make ends meet given with what you have. However, you still find yourself in a situation where you are unable to save for the rainy days. Worry no more for there is a major alternative to making the most out of your monthly salary. Yes, there are other means when you find yourself in a situation where you need a little bit of help financially. For this article, we’ll discuss one – microinsurance.

What is microinsurance?

Microinsurance is the protection of low-income people against specific perils, in exchange for a regular premium payment proportionate to the likelihood and the cost of the risks involved. Think of it as your financial airbag, ready to take the impact for you should there be an emergency.

Where do I find microinsurance? Where would I apply for one?

Microinsurance is everywhere. Each country has numerous establishments and organizations which offer this type of service. All you have to do is research which financing institutions near you offer microinsurance.

I’ve seen many variations of the word, how should it be written?

Microinsurance may have been practiced for a long time. However, the variations of how it’s typed is fairly new (yet accepted by society). Microinsurance, Micro-Insurance and Micro Insurance are considered correct, all referring to the same concept or type of insurance, so no need to worry if ever you’re looking for literature about this topic for your financial research.

Why should I choose microinsurance over the other money-saving methods?

Before we may answer this question, let us first look at the other ways of saving a certain percentage from our hard-earned money. According to a recent financial report, the following are the usual money-saving procedures:

• Diversifying activities, assets, and sources of income, including through migration of one or more family members;
• Informal self-help, investing in different socio-economic and/or identity-based networks;
• Saving, which allows for self-welfare to cope with future expenses, predicted or not;
• Emergency credit from formal and informal lenders;
• Selling assets or reducing consumption to cover the cost of a shock.

These may have been working or have worked in the past. However, they can also have consequences for low-income individuals and families. Diversifying income-earning activities may help lessen financial risk, but may also reduce income-earning ability. When an emergency occurs, depleting savings, selling assets, or reducing expenditures on important goods such as food, healthcare, or education, can hamper your family’s way out of poverty. Resorting to expensive, formal loans can cover immediate costs but leave the family with long-term and heavy obligations that are difficult to pay back. Family and friends can often help but are a limited resource, particularly in low-income communities.

With all of these being said, how can microinsurance help me in the long run?

When faced with an emergency, insurance may cover costs that those existing strategies cannot and help clients avoid strategies or methods which may complicate your current situation, rather than resolve it. Even before the need arises, the security provided by an insurance product may help avoid some costly or otherwise non-preferred risk reducing strategies, such as growing subsistence crops or sending a family member to work abroad. Go for a well-trusted procedure which never fails, and that’s microinsurance.

With all of those being said, be prepared for any financial emergency. Here at Cebuana Lhuillier, we offer a wide array of Microinsurance options, with affordable and simple terms to help every Filipino avail of financial services and privileges that higher-income earners have easy access to and promise to minimize impact of distress and misfortune on one’s financial position. So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

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Everyone loves the convenience of having their own ride. Regardless of brand and model, a vehicle would let you travel wherever you need to go and at your own pace. The possibilities are endless, which is why it’s always appropriate to take care of your car, no matter what. Out of all the risky things that may happen to your car, the sudden occurrence of natural disasters may be the scariest of them all. It is uncontrollable, unavoidable, and definitely very destructive. Being prepared is definitely the key. This is the perfect opportunity then to obtain comprehensive car insurance. You may wonder, is it worth it? The answer: Yes, it definitely is.

Here are a few things that you must know in order to get oriented about Comprehensive Car Insurance and its importance:

What is a Comprehensive Car Insurance? 

A Comprehensive Car Insurance is a coverage that helps pay to replace or repair your vehicle should there be anything that may happen such as if it gets stolen or damaged in an incident that does not involve impact or collision (much like a car crash). Comprehensive typically covers damage from fire, vandalism or falling objects (such as a tree branch or hail storm). As we had mentioned the part where it says “falling objects,” you may realize by now that storms are the main culprits when it comes to this type of unfortunate happening.

What are its importance/benefits?

1. A car insurance that only implements a minimum coverage wouldn’t be able to insure your vehicle, since it would simply cover body injuries from collisions (as with the case of collision coverage).
2. A Comprehensive Car Insurance covers any type of natural disaster, regardless if your vehicle received damage from a falling object (hurricane) to being flooded by rain water (monsoon), then you would have nothing to worry about.
3. Unlike the usual car accident which would involves collision between two cars or a car and an object, natural disasters cannot be controlled by any means possible. The weather reports can only do so much. A tree branch falling on your vehicle is an uncontrollable circumstance, even if you had practiced all the precautionary measures beforehand (how were you supposed to know the direction which the tree would land on, right?) Simply put, it can happen anytime and definitely catch you off-guard.
4. The collision coverage cannot be added to your auto policy without comprehensive coverage listed. But, comprehensive can be added to your auto policy without collision.
5. The Comprehensive Car Insurance is a nice in between coverage for anyone who wants some protection but does not want to pay for full coverage.

With these information in mind, now’s the time to decide which insurance coverage works best for you and your car. At Cebuana Lhuillier, we offer AutoCARE Insurance. This is a Standard Comprehensive Car Insurance that covers Own Damage (OD), Theft, Loss and/or Damage. Excess Bodily Injury (EBI), Excess Property Damage (EPD), and Acts of God/Nature (AOG/AON). What are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure of a fast, easy, and secure transaction.

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Filipinos opt to work abroad to provide better lives to their loved ones. Leaving family to find better opportunities overseas is difficult, but Overseas Filipino Workers (OFWs) do so to fulfill their duties and obligations to their beloved.

With the prevalence of technology, there are now many ways to send over their hard-earned money back home. If you are an OFW, knowing more than one way to remit money to your loved ones would enable you to have alternative; just in case other means to do so are unavailable. We’ve listed 4 ways you can send the money you worked hard for to the Philippines:

Via bank transfer

Safely send money to the Philippines by wiring money to your loved ones’ bank account. A wire transfer is an online means of transferring funds from one financial institution to another. You can remit money through major banks here in the Philippines. However, there are flat rates for sending and receiving money through this method. This is one of the secure ways of sending money but transfer rates and speed of transfer vary for each bank.

Via foreign exchange services

First of all, don’t confuse foreign exchange services with foreign exchange traders who perform a different service. Foreign exchange (forex) companies complete international currency transfers to individuals and businesses. They transfer the funds from one country to another and exchange the currency between the two countries. Most forex companies are located in the United Kingdom (U.K.), but some are also located in North America and Asia. It should be noted that forex companies should only be used for large transactions, and that the company does not charge a fee; they make money on the exchange rate.

Via Prepaid Cards

The use of prepaid cards is a great way to spend without going over the budget. Your family in the Philippines can acquire a prepaid card which you may reload at any time even while you’re on the other side of the world. Simply set a budget to better monitor your family’s expenses whether the basics such as the weekly trip to the grocery or leisure, like watching the latest movie showing in the cinema.

Sending money via remittance services

Here’s one we definitely recommend. Cebuana Lhuillier’s Pera Padala Service ensures an easy, quick, and safe way to send and receive money. With more than 2,000 branches nationwide and accredited international partners, this money transfer service is made available to clients within and outside the Philippines. All transactions are real time, which enables clients to claim the money as soon as the sender completes the sending process in the branch.

The right money transfer service depends on what works best for you and your family here in the Philippines. Ask other OFWs or Filipino immigrants on what works best for them to weigh in on your decision, keeping in mind the main objective – to send money to your loved ones in the Philippines safely and timely.

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Do you know where your salary goes every month? If not, it’s probably about time to track your expenses and start paying attention to your money to stop living from this month’s paycheck to the next.

Making both ends meet is tough, but much tougher when you would not be able to provide for your family, especially when the need arises (emergency funds, tuition fees, etc.). Yes, the economy has made it even difficult for everyone to earn more than what they really deserve. Hence, it would not be a surprise that many would prefer to leave for a much higher pay in foreign countries.

Living paycheck to paycheck does not mean you’re stuck forever in this situation. It’s going to be tough in the beginning but definitely worth it when you get the hang of saving. We’ve listed below some ways to help you out:

Set aside savings

As soon as you receive your monthly pay, set aside a specific amount for your saving. Regardless if it’s just a couple of hundreds, put it in your savings account or your piggy bank. Push yourself not to touch your savings and keep them until they increase in value. You’d be surprised at how much you’ll be able to save in a short amount of time. Delayed gratification is the key; for money saved will be money well-spent later on.

List down your budget.

Start figuring out how much money you have coming in and how much you are actually spending. From your basic expenses to your luxurious spend, go through all your expenses in a month and figure out exactly what you’re paying for monthly.

From this, you’d be able to identify which items you can reduce what you’re paying for each month. The next step is to create your budget based on what you should be spending on everything – including recurring bills, those you’ve reduced and those you have to pay every month, as well as other expenses like groceries and emergency fund.

Then split your monthly paycheck to cover each item on your budget list. You can go the old-school style of setting aside money for your expenses on envelopes and paying for everything in cash. You can also set up different accounts for each area on your budget and manually allocate money on each account to cover all of your expenses. Then whatever’s left of your account will be automatically placed on your savings.

Live below your means.

The salary increase you received when you transitioned from probationary to regular employee does not mean you also increase the amount you’re spending for unnecessary items. Try to avoid sinking back into your old spending habits whenever you’re getting additional income from other streams. Keep living below your means and setting aside money for a brighter future ahead.

Once you are sure you’re in a better financial situation, then re-evaluate your budget and add back a few things you really want. The key is to keep spending less than the amount that you actually make.

Ask for help.

When you’re in the deep financially, do not be embarrassed to borrow from family or close friends. Transitioning from one milestone to another, such as graduating from college then entering the workforce, or moving from one job to another, can be overwhelming. Establish a payment scheme with them to make sure you pay them back.

You can even ask help how you can fix your finances, for handling matters of the money can really be daunting. Reach out for help or guidance from people you trust and know you well.

Get a part-time job.

If you’re barely scraping by with you have, you may need to look at working overtime, getting a second job, or possibly getting a new, higher-paying job. Of course, you must balance your obligations in order to perform well on both jobs, however, you must not forget to rest as well, for a healthy body would enable you to do more, rather than a frail one which would weaken you, even to the point of struggling on a single job.

Bottom line of all these is it’s important to know where your money goes. We all know how these tips are actually easier said than done. But in the end, these small sacrifices will help you achieve a financially-sound future. By adopting these simple steps into your lifestyle, you’ll wake up one day and realize that you’re no longer waiting for that paycheck and actually have savings set aside on your bank account.

With these saving tips in mind, you may want to find a trustworthy bank that may handle your hard-earned money well and safely. If you’re a resident of Bacoor, Cavite, and Batangas, then the Cebuana Lhuillier Bank is your one-stop spot for opening your own savings account. All transactions are real time, removing all the hassle that you may have experienced in other banks. Visit the Cebuana Lhuillier Rural Bank now and start living your way to a financially secured future.

There may come a time in which you may need to apply for a loan. You have a justified reason in doing so and are willing to present all of the requirements in order to get your application approved. But the extremely thorough application process when applying for loans, there is no assurance that you get an approval especially if you do not provide a solid proof of your capacity to pay for the money you will be borrowing.

If you are thinking of or already are applying for a personal loan, here are some tips to pass that credit check and have your loan easily approved:

Improve your credit standing.

Keep in mind that your credit history is easily accessible to lending institutions. An impressive credit history will give you nothing but glory, even if you’re not processing to apply for a loan now or you just think you might need it in the future. Pay any remaining debts, including credit cards and other loan obligations. If you have existing obligations, make sure to pay in full and on time. Avoid using credit cards in the meantime since purchases could pile up and financial institutions have their way of checking whether you pay on a regular basis. Believe us, this would definitely convince the lenders in trusting you with their money.

Show a proof of your income.

The main thing any lender is concerned about is how you would pay back the money you borrowed. They would be inquiring how long you have worked at your current job and the stability of your job to indicate your long-term reliability financially.

Some lenders may also consider your employment industry and history, as well as your employment status – whether you are under a contract, casual or self-employed. Proof of income would provide a general idea of how much you make in a month. Lenders may also request you submit a copy of your tax returns to further verify your financial stability and capability to pay off the loan you will be borrowing.

Maintain a savings account.

Aside from the fact that it would show financial responsibility, it would also enable you to have an emergency fund, for when you are not able to receive any earnings for a particular month due to an unexpected occurrence, you would at least have something extra to pay off the loan’s monthly obligation. Make it a point to set aside cash on your savings account. When you do this, you are demonstrating that you are likely able to manage your loan repayments.

Go for a realistic loan amount.

By now, you should already be aware of your credit history and current score. The financial institution should be able to tell you the range of credit score required to get approved. Plan ahead and request for the necessary to documents weeks prior to your application. Consider your financial limitations when applying for a loan. Apply for the amount of loan based on your ability to make repayments that you can actually afford.

Create a checklist.

Financial institutions already easily provide the information necessary for various transactions, including loan applications. Based on these information, it is best to create a checklist of the needed documents for your loan application. It can take some time to secure the documents from your creditors, employer, and other financial resources. Incomplete documentations may result to your application getting disapproved.

The lesser, the better.

Before you apply, it is recommended that you check various lenders and the loan facilities to know which offer fits best to address your financial needs. Compare interest rates and payment schemes to help you decide which is more convenient and easier for you. Then pick two to three lenders. Take note, submitting to too many lenders is inappropriate and may affect the approval of your loan. Stick to one or two lenders and fulfill the documents necessary. Follow the tips we have listed here and you will get your loan approved in no time.

After reading through our tips, you will definitely want to choose a loaning service that would best be applicable to your needs, without all of the hassles. Look no further than Cebuana Lhuillier’s Happy Loan, a multi-purpose loan amounting to Php 5,000, Php 10,000, or Php 15,000 offered to any individual who is employed, self-employed, student, or a remittance beneficiary. Our more than 2,000 branches give customers unlimited access and convenience in applying for a loan. Our five-point application to disbursement process ensures services are delivered on time.

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If you are in need of immediate cash and currently have a decent credit score, most banks and other financial institutions will be willing to offer you a personal loan. The eligibility to apply for this type of loan varies from lender to another, and is based on your income, credit score, age, and overall financial stability.

People apply for personal loans for a variety of reasons. You can use a personal loan to invest in business, pay for unexpected medical emergencies and even fund your upcoming vacation.

Here are a few things you should take note of before you apply for a personal loan:

Determine the type of loan that you can afford.

The payment length and amount of the loan are important factors to consider, as the interest would build up over time. This is very risky, as you would not want to be burdened by a high amount of interest in the long run.

Policies implemented on the loan.

Personal loans attract many people because they are more negotiable, in terms of the rules of payment, and the length of time to pay off the loan. Be careful still, as different establishments have different rules and regulations. What you thought may be a harmless decision may be a critical cause for penalty if you don’t read the fine print.

Making late payment and penalties.

Paying your loan is one thing, paying it on time is another issue. These penalty rates are forms of reminders to encourage borrowers to pay on time and right on schedule.

Most credible lenders will assist you, should you need an extension. But be cautious because this can also mean they can charge you with high-interest rates. Not only will you end up paying more, you’ll also be paying your loan longer. Which is why it is important, that from the beginning, you’ve already set up a budget and a strategy on how you’ll be paying your loan off. Setting up a budget will not only help you stay on track with your payments but it could also save you money by avoiding the penalties that go with late payments.

Need a co-signer?

A co-signer will be necessary if your credit is poor, or if you can’t provide some type of security or collateral. Certain lenders will require a minimum credit score in order to receive a personal loan.

Other risks that come with personal loans.

Payments for personal loans are fixed; therefore you need to make sure you can pay it back on time. Find a credible loan provider that is popular and has good reviews, as there are scammers out there trying to get money.

Beware of hidden fees.

You’ll want to check not just the interest, but the origination fee. The origination fee is what the lender is charging to pay for the processing costs of your personal loan. Depending on the lender, fees can be close to 5%. Make sure to check the total amount you’ll have to pay, with all fees included. Certain lenders will charge if you pay your loan too quickly.

Analyze the total costs.

When searching for a personal loan, you’ll want to make sure to compare total costs of loans, as opposed to interest rates alone. You might find that a lender has better interest rates, but a much higher origination fee. Speak to different lenders and take your time finding the best option.

Apply for your very own loan with a trusted name that offers only the best service possible. Cebuana Lhuillier’s Lucky Loan should definitely be your top choice. It is a multi-purpose loan offered to registered entities such as tricycle operators, credit cooperatives and other groups, as well as SMEs such as restaurant and mini groceries, among other businesses. Our more than 2,000 Cebuana Lhuillier branches and online presence give customers unlimited access and convenience in applying for a loan.

Starting a business is never easy, yet, very manageable if you make the right decisions from the very beginning. You have your business strategy laid out but you do not have the required capital to start-up your plans. You would like to avoid borrowing your initial fund from banks and other loaning establishments as collaterals and interest rates are risky parts of every business ventures. So, what can you do? Believe it or not, there are various ways to creatively source funds for your business. You just have to know where to look. Here are some examples:

Personal financing

One of the simplest means of earning money for your own venture is to be able to save up for it from the very beginning. Think about this, your savings, your own capital, and no borrowed amount from anyone, means no debt and no one to owe money to, especially as all of the funds used for your business came from you. As the saying goes, “if you want something done right, you have to do it yourself.”

Crowdfunding

The great thing about the internet is it brings people together in order to fulfill a good purpose, one of which is business funding, or what we now call as Crowdfunding. Crowdfunding websites have been on the rise these past few years. This is a way to get people to invest in your cause in exchange for something else, aside from money. Popular sites that facilitate crowdfunding include IndieGoGo and Kickstarter. These are websites for people who wish to showcase their business ideas, and in turn receive financial backing from around the world to start up those ideas into an actual venture. However, it’s important to note that crowdfunding is very emotional and the success of your crowdfunding effort is based on how your business idea appeals to people.

Friends and Family Loans

One way to obtain money for starting your business would be to borrow from your family and friends. Unlike banks and other funding organizations, they would be more forgiving when it comes to deadlines. Of course, never forget to pay your interest (and on time) as to not risk any family relationship or friendship over money. This would also avoid any unlikely sense of gratitude that may occur once your venture succeeds.

Peer-to-peer lending

Peer-to-peer lending is a process in which a group of people comes together to lend money to one another. It’s been practiced for years, in examples like small business groups or ethnic groups supporting similar efforts. In a similar case, look for a successful entrepreneur peer willing to fund new ideas, showcase what you’ve got and convince the financier that their money wouldn’t go to waste. The downside of peer-to-peer loans is that they are not easy to get and the interest rates can go very high.

Get help from Angel Investors

Angel Investors are a group of people or organizations who are always on the lookout for new and bright business ideas. They would invest on your business, given that once it becomes successful, they receive a share of your profits. One such company that was funded by angel investors was Google, which started out from scratch and is now a multinational company with a net worth amounting hundreds of billions.

Venture Capitalists

Similar to angel investors, Venture Capitalists would require a share of your profits once your business becomes a huge success. However, unlike angel investors, they would prefer to have some control in how the company is handled, as they are looking to ensure profit on their investments as well. This would be most applicable if you wouldn’t mind having an extra hand or consultant in your business.

Inventory Financing

This method is solely for those who are looking to try out the retail business. The lender would provide you with funds so you may purchase items which would be sold by your business, like groceries or the local second-hand clothes stalls famously known as “ukay-ukay.” Take note that this method strictly entitles the lender to only provide funds for a retail type of business.

Vendor financing

Simply put, if you need products for your inventory, many manufacturers and distributors may be convinced (after further proposals and negotiations) to put off your payment until you sell the goods. This really means an extension of the normal 30-day payment terms to a period of months or longer, depending on your credit worthiness and extra fees.

Credit Card Stacking

This method would allow you to use different credit cards with total credit limits that match the amount of financing that you would need for your business. It may seem like a fairly inexpensive way of gaining your capital. However, there is a reason why this method is also said to be “unsecured.” With the negativities tied to credit cards, some lenders would allow you to do this for free. Take strong caution in undergoing this procedure to avoid any possible debt problems in the future.

Microloans

If you’re going to get creative about your business fund, why not go all the way with a service that would rightly look out for you and your venture? Cebuana Lhuiller’s Lucky Loans is a multi-purpose loan offered to registered entities such as tricycle operators, credit cooperatives and other groups, as well as SMEs such as restaurant and mini groceries, among other businesses. This loan would only require business permits, proof of billing, and proof of income as preliminary documents for your loan application, and then you’re on your way in undertaking a fruitful venture.

Visit your nearest Cebuana Lhuillier branch now to know more – we assure a fast, easy and secure transaction!

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After months of comparing quotes from various car dealers, you’ve finally decided to purchase your own car. But the decision-making does not stop there. You still have to decide on and purchase what car insurance is suited for your vehicle and what actually fits your budget.

A car insurance is a type of policy that is usually purchased by vehicle owners wherein they pay a certain premium in exchange for coverage provided for by the insurance company. This gives financial protection to car owners in case of unforeseen incidents such as damage to the vehicle, injuries while driving the car, and theft of the vehicle insured.

Similar to the tedious research you did prior to deciding to purchase your car, there is also a lot of research needed to be done when searching for the right car insurance for you. For instance, it is easy to assume that since the word “comprehensive” is included in the comprehensive car insurance, does this mean that the policy covers you from all possible damages? Insurance companies offer a variety of coverage for car insurance. However, there are basic inclusions that are present in almost all.

AutoCARE Insurance, a product offered by Cebuana Lhuillier Microinsurance is a standard comprehensive car insurance, valid for up to 12 months, that covers:

Own damage

Theft, loss and/or damage

Excess bodily injury

Excess property damage and acts of God/nature

This includes Auto PA based on seating capacity maximum of 5 seats, including the driver.

In just 5 easy steps, you can avail of a comprehensive car insurance that gives you security whenever you’re on the road.

1. Visit any Cebuana Lhuillier branch near you.

2. Request for your preferred insurance policy.

3. Present the payment for the Certificate of Cover.

4. Accomplish and sign the Certificate of Cover.

5. Secure the Certificate.

Take note that you’ll need the following documents, whether in physical copies or digital files:

• Vehicle’s Original Receipt
• Vehicle’s Certificate of Registration
• Driver’s License
• Valid Government ID

An important thing to note when selecting the right insurance for your car is their financial capability and stability. Like any document you’re signing, it is of utmost importance that you read the fine print and take up any terms within the contract you may find questionable with your insurer.

Last, a comprehensive car insurance policy does not cover everything so finding the right policy that covers your needs. As a precaution, choosing a policy that covers Theft and Acts of Nature is a smart move.

If one goes to a typical bank, applying for a business loan could become a complex procedure. In fact, traditional banks make the loan application so tedious that it makes some entrepreneurs nervous or anxious about their chances of approval. The application process in itself is a challenge given the number of requirements involved.

So, if you find that applying for a business loan is a daunting task, read on because there’s a better way.

Cebuana Lhuillier, the country’s top community-based lending and money remittance firm, makes everything easy whether you’re an experienced business person or a first-time entrepreneur.  The company believes that its customers must receive fast, convenient service especially when it matters most — when they are in need of cash to put up or sustain a business.

In just four easy steps, you can finally work on your way to making it in the business. Read on and learn how you can apply for a business loan absolutely hassle-free.

1. Prepare the loan requirements

The first step is to prepare all the loan requirements.  These include at least one valid government-issued I.D., your business permit, and proof of income.  The proof of income may either be a payslip for a full month or an Income Tax Record (ITR).  A sales record or bank statement may be used by self-employed loan applicants.  It is also important to submit a proof of billing such as a statement of account or receipt for electricity, water, or cable T.V.  A credit card billing which shows the applicant’s address is also acceptable.

2. Submit the requirements

After gathering all the loan requirements, one needs to submit these documents to a Cebuana Lhuillier branch.  There are more than 2000 Cebuana Lhuillier branches around the country. It is best to choose the branch that is nearest to your residence or workplace.

3. Fill out Application Form

Make sure to ask for and completely fill-out the loan application form. It is important to write complete and accurate information for all fields cited in the application form.

After signing the forms, return it to the sales agent or staff at Cebuana Lhuillier and wait for their advice. It normally takes Cebuana Lhuillier at least three days to review and process the loan application.

4. Wait for the Loan Approval

Cebuana Lhuillier has made its loan application process so easy and customer-friendly. The loan applicant will actually receive a text message once his or her application is approved. Once you receive notification about the loan approval, there is only one more step to take.

5. Coordinate with the Cebuana Lhuillier Sales Agent for the next steps and other requirements.

The last step is to coordinate with the Cebuana Lhuillier sales agent who will provide additional information on how to secure and receive the loaned amount.

The funds or proceeds of the loan are given at the Cebuana Lhuillier branch where the loan application was filed.  The person who applied for the loan must present a valid identification card and the “Release Code” that was sent by Cebuana Lhuillier via text message.

Since there are more than 2,000 Cebuana Lhuillier branches around the country, claiming a loan has never been so easy and accessible.

Once an applicant receives notification of loan approval, he or she must immediately take the next steps to receive the funds or proceeds.  Approved loans are valid for seven days. If the loan is unclaimed after seven days, Cebuana Lhuillier would consider the loan as cancelled or revoked.

Given the five easy to follow steps in getting loan with Cebuana Lhuillier,  the goal of becoming successful in business is now more attainable than ever.

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There are few important points to consider when applying for a personal loan. In this article, we’ll be discussing the steps you need to take before taking out a small business loan.

A small business loan could mean the difference between daydreaming and actually making your dream come true.

Maybe you’ve held that idea in your mind for such a long time. But you already know that all you need is a small loan.

With that small loan, you can finally execute your plan of building a business.

But where do you start? Consider the following smart steps before applying for a business loan:

1. Know Your Purpose

A personal loan can be used for just about anything. You can use it to buy the latest pair of sneakers or to snag the latest smart phone in the market.

So, in this article, our aim is to take out a loan to start a business or to support an existing enterprise.

Knowing your purpose for the loan will prevent you from misusing the funds and missing your goal.

2. Clearly Identify How Much You Need

What aspect of the business needs funding? Are you a start-up that needs to fund every single item in your list from the business registration to buying an initial inventory? Will you use the funds for the business space or store rental?

Identifying how much money you need to borrow is closely tied to the first step, which is knowing your purpose. Knowing exactly how much you need to borrow is also dependent on your market research. For example, if you need to rent a store space, the wise thing to do is to survey the rental market to see the prevailing rates in the locations that you prefer.

3. Review Your Capacity to Pay

In reality, it’s easy to borrow money but hard to pay.  Getting a business loan from a bank or a lender is relatively easier since it is part of the services they offer. It is only a matter of being qualified to take out a loan. One of the qualifications or requirements that banks or lenders prioritize is one’s capacity to pay.

Check your cash flow if you can generate and save enough cash to make good on the monthly payments for your loan. Ask your loan provider about flexible loan payment terms to make sure you have the ability to pay your loan on time.

Remember, you needed extra cash in the first place and that is they reason why you need a loan. Knowing your capacity to pay will help protect you from penalties for late payments or loan delinquencies.

4. Select a Loan Provider

Selecting a loan provider is very important because it will dictate what kind of loan you can take, how much loan you can apply for, the type of payment schemes available, and the requirements you need to prepare for loan application.  Of course, the industry reputation and services offered by the loan provider are essential points to consider.  The loan provider must be fair and complies with industry standards and best practices.

5. Prepare Loan Requirements and Other Documents

The last important step is to make sure you have prepared all the documents that must be submitted to the loan provider. These documents may include pay slips, latest tax payment receipts, or documents for your collateral.

Starting and staying in business is a challenge. But it is a challenge that can be overcome as long as you get enough support or assistance.

For many entrepreneurs, a small business loan is enough to pump prime the store or shop to better profitability.

For start-ups, a small business loan is exactly what is needed to translate a vision into reality.  So whether you are a seasoned entrepreneur or a budding business person, make sure to take out the right loan with the right amount and with the right loan provider. Taking the rights steps in applying for a loan is a path that will you to success.

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Taking out a loan has always been thought of as negative since it is equated with being in debt. Yet there are good reasons for applying for a loan.  If a person or a company knows the difference between good and bad debt, then having loan can indeed be a positive step forward.

First things first, what makes a loan good or bad?  Well, a bad loan is debt that is used for frivolous and unnecessary spending.  A good loan, in the context of business, is the use of borrowed money to start or expand an enterprise. In short, a good loan builds the business while a bad loan is borrowing money for wasteful spending.

A business loan can be truly beneficial for the following reasons:

1. Start-Up Fund for Your Business

Applying for a loan makes sense especially for new entrepreneurs or start-ups. Reality is, as they say, it takes money to make money.  Putting up a business requires having a sufficient amount of start-up capital.  Start-up capital is used to pay the government registration fees including the business permits, stocking up on inventory or supplies, setting up a store or office, buying or renting the office space or shop, and paying your employees’ salaries.

2. Improve Your Cash Flow

For established businesses, taking out a loan is beneficial when the proceeds or funds are used to improve cash flow.  Cash flow is defined as “the total amount of money that moves in and out of a business”.

For example, the amount of money that is invested for day-to-day operations is called operating cash flow.  This includes the money used to buy and stock inventory, wages of employees, bills paid for business utilities, transportation costs, among others. When a business does not have enough money to sustain the daily operations, taking out a short-term loan may be one of the options available.

An even better example for improving cash flow is when a business owner uses a loan to purchase more stocks or items to be sold.  In some cases, the borrowed money is used to buy more equipment and other materials which will then be considered part of the business capital outlay.  At the surface, this is money being spent outside the business to purchase goods which in turn, will increase productivity and sales for the company.  The improved productivity and sales, of course, will bring in positive cash flow back into the company. As a result, the business grows.

3. Business Expansion & Maintenance

There are instances when an entrepreneur sees a new opportunity to enter into another line of business.  Once he or she decides to expand into a new business line, more money is needed to serve as capital. Taking out a business loan is a viable alternative when the potential for financial success outweighs the risk of borrowing money.

Established businesses also resort to loans when much-needed maintenance is needed. This is very common in businesses involved in manufacturing and food services. Manufacturing businesses usually use a number of machines that need to be repaired or replaced.  Food service companies like restaurants, on the other hand, periodically need to replenish stocks or renovate their shops in order to remain competitive. When the daily incomes or net earnings of the company are insufficient to fund the maintenance needs or planned business expansion, a business loan is a reasonable option to consider.

4. Emergencies

Emergencies do happen to businesses.  Whether it is fire, severe flooding, earthquake, and other natural or man-made disasters — these unfortunate events cause damage to the business and to the people who run it.  A business loan will be a lifeline to sustain or revive a business that has been struck by an emergency.

5. Hiring New People

A business loan is also a useful tool in helping a company pole vault to success.  Such pole vaulting often involves hiring good talent, which takes money.  Whether one hires for top management, supervisory, or rank-and-file positions, the hiring process inevitably takes a certain amount of funding from publishing the job vacancies to making actual job offers to applicants. Of course, once new people are hired, it creates a new line of expense in terms of additional payroll. When a company or business leader sees that the benefits of hiring new people to run the firm outweighs the costs of repaying a business loan, borrowing money becomes logical and necessary.

While no one wants to be in debt, there are strategic uses and proven benefits to taking out a business loan. With a clear purpose and a right strategy, a business loan can make a business reach higher heights of productivity and profitability.

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The inevitable day when one passes away is a reality to all humans. However, minimum wage earners are the most at risk when facing natural calamities, such as typhoons, earthquakes, etc. They also put themselves at risk daily with incidents of crime and road accidents.

Whether man-made or brought about by nature, these risks and threats need to be managed or prepared for by wage earners not just physically and emotionally, but also through financial means. Financial preparation is, however, another tough challenge for most working people. Whatever risk one faces, it is important for everyone, especially minimum wage earners to be prepared, especially financially. But since money is tight for minimum wage earners, it is a challenge to be financially prepared for risks and crises.

Imagine being a minimum wage earner with a take home pay ranging from Php 264 to Php 491 per day, depending on the nature of work and location. With this amount, a typical earner prioritizes for his and his families’ basic needs – food, shelter, and school expenses for the children. More often than not, they end up with little or no extra income to set aside for insurance. This makes the impact greater when unforeseen incidents such as illness, accidents or death happen, greater not just for the earner but for his beneficiaries as well. With the prevalence of “5-6” loans, those in need of immediate financial aid resort to these financial schemes which later push them to long-term debt. Requesting aid from employers in the form of salary deductions is also an option they mostly choose. But similar to 5-6 loans, this is not something that would help them in the long run. 

Knowing this, the country’s top pawnshop and remittance company Cebuana Lhuillier developed a micro-insurance product that is simple, affordable, and accessible to every minimum wage earner. The term micro-insurance, in essence, is about providing benefits to people who need financial assistance in exchange for low-rate premiums. For as low as Php 40 or the same value of a mid-priced, kilo of rice, an individual can receive cash benefits as high as Php 20,000 for accidental death or dismemberment, Php 5,000 fire cash assistance, and Php 5,000 micro-life insurance.

Cebuana Lhuillier made sure that appropriate risk protection plans for low-income individuals and members of the informal sector are made available as a way for them to financially prepare for the risks they face daily. With micro-insurance, everyone, especially minimum wage earners in need of financial assistance already has a viable option and a sure financial aid. Micro-insurance products like Cebuana Lhuillier’s Alagang Cebuana Plus Gold can help minimum wage earners rebuild their lives after a sudden loss, sickness, or accident.

With more than 2,000 branches nationwide, a wage earner can simply walk into any Cebuana Lhuillier shop and fill-out the forms. Claims processing only takes 24 hours and requirements are also very easy to comply with.

Indeed, through micro-Insurance, minimum wage earners are assured that they and their loved ones are protected.

Having a food business is one of the best ways to create positive cash flow.  Since food is a daily necessity, there is always a market ready to buy as long as what you serve is quality food that is reasonably priced. It also helps if your restaurant, eatery, or food stall is located in a high traffic, high volume place easily reached by customers.

There are many ways to improve cash flow including having a rationalized staffing plan, having a timely stock inventory, or reducing waste in food production.  There is a reason for the cliché, “Cash is King.” The flow of cash in and out of your establishment determines whether you stay in business or not. But as all people who are into a food business already know, it is not that simple.

The reality is, being in the food business is a challenging endeavor. Needless to say, competition is stiff given the availability of hundreds, if not thousands of choices. Just walk along any busy street and you will find endless options ranging from the upscale restos, mid-range priced diners, or the more ubiquitous food stalls and carinderias that all offer a good menu that is priced just right for their niche market or a certain type of diner. What if a newer restaurant suddenly sets up in front of your venue and gives you a good “fight?”  Can you handle the change in cash flow when some of your regular or would-be customers move to the other side?

Or how will you handle the change in the price of commodities like rice, meat, fruits, and vegetables? This would surely upset your usual budget for the restaurant kitchen or commissary. Even the supplier you’ve known and trusted for years might instantly yank up prices in order to keep up with inflation and market forces that dictate how much food items cost.

Have you even considered the need to constantly innovate not just your menu but the total dining experience in your restaurant?

Perhaps it is time to do a renovation of the dining area or the kitchen of your restaurant?

Perhaps you are in the food manufacturing business and you find yourself needing to invest in the latest equipment for cooking and packaging your food product.

Indeed, there are challenges that affect your cash flow and, ultimately, the bottom line of your business. But for the true-blooded entrepreneur or businessman or woman, the only acceptable result is success.

Succeeding in a food business — whether it is in producing and packaging food, having a restaurant, a food stall, or even participating in a food park — the key is always found in the infusion of capital. This is another proven way to improve one’s cash flow.

While it may sound counter-intuitive, getting a business loan is a good option. With a business loan, you can bridge the gaps that bleed your business. As a financial tool, a business loan can literally save your business and bring it back to life.

Cebuana Lhuillier’s Business Loans have helped food entrepreneurs and other people who entered into a business of their own. (We started offering our business loans only this year. Karl) The loans offered by the country’s top remittance company are affordable, flexible, and accessible to people from all walks of life.

Having a food business may be a daily challenge. It takes long hours of work and a genuine passion to keep your customers satisfied. With a well-calculated loan, taking your food business to the next level will be an achievable goal. If done right, pump priming your business will help ensure that cash flows back to you like an unlimited buffet of success.

Are you prepared? Are you ready to save your life and those of your loved ones? These are important questions that beg serious answers.

Risks and dangers are part of our daily existence. We live in a country that is ravaged by numerous typhoons and earthquakes. Flooding, landslides, and other natural disasters bring untold damage to millions of lives almost every year.

Aside from natural calamities, we also need to be aware of the threat of fire. A large fire at home could wipe out all of your earthly possessions, turning all you’ve worked hard for into a heap of ash. A car accident could also wreck your car and mortally threaten your life and limb. Worse, a sudden illness could wreak havoc in your family budget with the exorbitant cost of medicines and hospital care. However, there is no need to fret nor lose hope because of the many ways we can protect ourselves and prepare for these risks. One of the most effective tools available to protect us and our loved ones is called Micro-Insurance.

Micro-Insurance is a financial product that aims to protect those with low income against specific risks in exchange for low premium payments. The premium is proportional to the costs and the likelihood of risks to occur. In simple terms, micro-insurance enables a person to have access to financial support should they suffer from natural or man-made disasters or accidents.

Indeed, micro-insurance can literally save your life because of these outstanding features:

Super Low Premium, High Benefits. Some products such as those offered by leading remittance company Cebuana Lhuillier offer micro-insurance for as low as Php 40. Even with such a low premium, the cash benefits can range from Php 5,000 to as high as Php 20,000 depending on the insurance type and premium coverage.

Custom Products to Suit Your Needs. There are many micro-insurance products designed to meet the specific needs of its policy holders. A daily wage earner working in the city has insurance needs that are different from that of a hardworking farmer in the province. The good thing is that companies like Cebuana Lhuillier have many micro-insurance products that are custom-made for workers, farmers, and even security guards and senior citizens.

Accessible All Over the Country. With over 2,000 branches all over the country, Cebuana Lhuillier’s micro-insurance is truly accessible to people from all walks of life.

Easy & Fast Processing. The best part about micro-insurance with Cebuana Lhuillier is the fast and easy processing of applications and claims. It only takes filling out a form to get insured.  Get your cash benefits within 24 hours upon filing a claim.

Despite the many risks people face daily, one can still live in peace provided that adequate prevention, protection and care is taken every step of the way.  Through appropriate, affordable, yet highly beneficial micro-insurance, you can truly save your life and those whom you value most.

Having a car insurance is a real money saver.

Most governments around the world make it a requirement as part of motor vehicle registration. But not too many people realize how much cash they could save by having appropriate insurance coverage for their car.

In general, having good car insurance offsets the often stress-inducing costs of paying for vehicle repairs. A minor fender-bender or worse, a total wreck will surely create havoc on one’s wallet. It costs thousands of pesos to pay for body dent repair, vehicle repaint, and replacement of car parts damaged in a car accident. Of course, the financial cost of replacing a broken car engine and other major internal parts is another burden no one wants to carry. But with car insurance, you can save yourself from a lot of stress and payments by making the insurance company foot the bill.

Another clear benefit of having a car insurance is when your policy covers compensation for stolen vehicles. Thus, it is imperative to protect yourself from whatever situation your vehicle may be put at risk with car insurance.
Surely, the benefits do not stop there. In every car accident, there is a very high likelihood that people will get hurt. If you are the one responsible for the accident, then the hospital bills – from the initial doctor’s consultation, emergency treatment, hospital room charges, and medicines are to be charged to you. You can also expect additional costs for physical rehabilitation sessions for the car accident victims. All these expenses will be paid for with your hard-earned money. Again, if you have good car insurance, the problem is as good as solved and most of the hospital bills will be paid for by the insurance company.

In case that your financial capacity is large enough to cover repairs for the car and hospital expenses of car accident victims, you must remember that everything could turn for the worse once a court case is filed. Naturally, you would have to go to court and eventually settle with the complainant (assuming you take full responsibility for the car accident).  Aside from the indemnities that must be paid to the complainant, one must also factor in the litigation expenses, including the lawyer’s fees which could easily cost you thousands of pesos. Having car insurance that covers part or the entire cost of litigation and other related court or lawyer’s fees is surely an advantage.

While nobody wants an accident to happen, there might be a severely unfortunate case when a victim dies. When this tragedy occurs, the one responsible for the accident would naturally seek to make amends and help out the family of the victim or victims to the fullest extent possible. This again would entail a huge amount of cash for payments for the memorial services and other forms of assistance to the family of the car accident victim. For these reasons, having car insurance covering death benefits in favor of car accident victims is another advantage. The car insurance would also take care of the benefits that would be received by family members of the insurance policy holder, in case it is he or she that passes away due to the accident. In this situation, it is the family of the deceased that will save money.

In summary, being prepared for accidents is a good thing. Having good car insurance offered by a reputable company saves you money during times you and your family would need it most – in this case car accidents and other vehicular incidents.

Good Debt and Bad Debt – what’s the difference? Aren’t all debts bad?

To make it simple, a good debt eventually puts money back in your pocket while a bad debt is like a sinkhole pulling you down.

But first things first, why do people get into debt?

For most people, borrowing money from a friend or relative is seen as a last resort. Cash becomes short typically after unexpected events such as sudden illness or death in the family, a fire that destroys a home and other possessions, or even the physical loss of money. To make ends meet, a person in need reaches out to one’s close friend or family member. For these situations, borrowing money and getting into debt is necessary.

Bad Debt. Truth be told, a lot of people get into debt for less than ideal reasons. Driven by uncontrolled purchases of and living beyond one’s means, some people slip deeper and deeper into a quicksand of loans.

But you might say that it is impossible to avoid buying stuff or making purchases as part of daily living. That might be true for essentials or those that you absolutely need to survive such as spending money for food, water, shelter, and to send kids to school.

Bad debt occurs when one spends money that he or she has not yet earned. The best example for this is the abuse of credit cards. It is so easy to swipe away payments for purchases with that credit card and walk out of the mall with hands clasping several shopping bags. Irresponsible spending is using credit cards or loaned cash to buy that latest pair of sneakers when you already have ten pairs of shoes at home. Many realize far too late that a credit card is not cash for spending, but a little piece of plastic that lulls them into debt.

Getting a loan just to satisfy a luxurious food craving or a fashion addiction are also examples of bad debt. Taking expensive vacations using borrowed money is also bad debt. In short, a bad debt is made when a person borrows money to spend on frivolous things. A bad debt is money that is spent on stuff that does not grow in value, but instead depreciates over time.

Some examples of liabilities or purchases that depreciate over time include shoes, clothing, a car (albeit some argue that it is a necessity), a fancy watch, and other items that simply empty your wallet. These items actually give birth to other expenses that could further add to your list of debts. Take out a loan to buy that shiny car you’ve always wanted, only to spend more money on gas, new car registration fees, and other vehicle maintenance expenses.

Good Debt. For sure, not all debt is bad. As previously mentioned, a good debt is one that puts money back in your pocket. One could probably take out a huge loan to buy a car that is later used as private car-for-hire, bringing in extra income.

Another example of good debt is getting a business loan to put up that coffee shop or food stall you’ve always dreamed of. Maybe you’ve had a business idea, a product, or service you want to turn into a full-time venture if only you had the financial capital. A small loan for a cellphone upgrade that you can use to start a loading business is also good debt. With a well-planned business loan with affordable terms of payment, you can pursue that dream and create an income stream that will let you pay off the debt while laying the foundations of financial independence.

In sum, one must know the difference between good and bad debt. A bad debt provides short term pleasure but eventually traps you in a cycle of financial hardship. On the other hand, a good debt is well-planned and necessary that eventually produces positive cash flow making your life better in the long run.

To know more about good debt and easy business loans, check out www.cebuanalhuillier.com.

Pawnshops have been the lifeline of millions of Filipinos who urgently need cash to address a sudden need or emergency. For decades, those in need have relied on the pawnshop to provide them with instant cash, usually by bringing jewelry as collateral.

In the past, one’s jewelry, including precious family heirloom, gold wedding ring, diamond earrings, or any other valuable gem or metal, was the acceptable collateral. Today, advances in internet technology have made pawnshops more accessible to more people. In fact, there is now a wider variety of items that one can pawn online.

Online pawnshops, as an easier and faster platform for pawning, are fast gaining popularity. Any person with a computer or internet-capable gadget such as a cellphone can now get the financial help they need in just a few clicks.

It is also a very convenient platform to use since all you have to do is take a photo of the item to be pawned, upload and send it to the online appraiser, and you will just wait for the approval and valuation of your collateral. Once the item is approved, the online pawnshop will deposit the amount to your own bank account. The online pawnshop sends accredited couriers to pick up the collateral at your preferred address. In short, you easily get the financial help you need without the hassle of going to a brick-and-mortar shop.

So, what items are acceptable for online pawning?

Jewelry. From the earliest time of human history, jewelry has served as ornaments of power, wealth, and beauty. No doubt, they enhance the overall image and sense of confidence of the one who wears them. But more than just shining symbols of affluence, jewelry are also excellent investment pieces. They can be resold and even pawned in a time of need. Whether your jewelry is made of gold, silver, diamond, or gemstone, these types of items always command a high price.

Most jewelry items are heirloom and thus are well-guarded and meticulously cared for in order to retain their pristine quality. Aside from the inherent value of the precious metal or stone attached to jewelry, the fine craftsmanship of these items also make them extra special. For these reasons, online pawning shops treat jewelry as their top priority in terms of valuation.

Aside from jewelry, you can now offer the following items as collateral in exchange for cash:

Laptops. Staying connected in the 21st century is almost as important as oxygen, and that is no exaggeration. Whether for work or leisure, laptops and other computing gadgets are now considered part of the daily essentials. With their varying specifications and features, laptops make for a good pawning item because of their functionality and high resale value.

Cellphones. Yes, just like the laptop, online pawn shops also accept cellphones. The latest models of cellphones are now bundled with numerous apps and high tech functions that make them as useful as the laptop or the desktop computer. In fact, some of the top-of-the-line cellphones have very advanced camera lenses that produce professional quality photos and videos. The technology, design, and universal use of cellphones make them a good item to pawn to get one through a tight financial spot.

Cameras. Digital single reflex cameras and other high-end point and shoot cameras are also accepted by most online pawning establishments. Cameras made by Canon, Sony, Nikon, and Olympus can be easily pawned.

Watches. Luxury watches are rare because of the precious metals or gems used as part of the design. The incomparable craftsmanship, resilience, and aesthetic qualities of the luxury watch also make it expensive and rare. For these reasons, luxury watches can also be easily pawned online. Some of the highly appraised luxury watch brands include Patek Philippe, Rolex, Tissot, Cartier, Philip Stein, Bulgari, among others.

So, whatever item you choose to make as collateral, you can be assured that online pawning is a convenient way to meet your financial need, anywhere and anytime.

If you’ve always gone to a brick-and-mortar pawnshop to meet your financial needs, maybe it is high time to make a switch. There is now a more convenient option available in Online Pawning, a technology-based platform for getting appraisals and receiving money for your valuable collateral.

Online Pawning offers four major advantages over the traditional pawnshop. Whenever you use online pawning, you are rest assured that it is:

1. A Way to Save Time and Effort

If you live in the city, you are most likely one of the millions of people who have to endure the hours-long traffic on a daily basis. This traffic creates an even longer, slow-moving queue of cars when there is heavy rain and flooding, or when there’s a fender-bender. By simply making an account on the online pawning service and logging in, all you need to do is to take a photo of the item to be offered as collateral and upload so that the appraisers can evaluate and give you an offer. When approved, the online pawning service will make a cash deposit corresponding to the value of the collateral. All these steps without taking a single step outside and only a couple of clicks on your computer or just a few taps on your mobile gadget.

2. Safe and Secure

By securing an account online, you can proceed with a transaction at the pawnshop at the comfort and safety of your home or office. Online pawning assures safe and secure transactions, where you do not expose yourself to the risk of robbery or loss of the valuable item when you transact in traditional pawning services.

3. The Option with Higher Appraisals

Perhaps one of the most appreciated benefit of the online pawning service is it offers significantly higher appraisals to its customers. They are able to do so because their business incurs lower costs or overhead expenses since they don’t need to spend on shop signage, furniture and fixtures.

Given the lower cost of running an online pawning service, the costs associated with a traditional pawnshop are reduced and there is no need to pass on those costs to the customer in the form of higher interest rates.

4. Has an Expanded List of Items to Pawn

Lastly, there is a wider list of items that can be submitted as collateral to an online pawning service. While jewelry including expensive automatic watches are still acceptable, other items can also be made as collateral. Various type of laptop computers, digital cameras, designer bags and even motorcycles are now acceptable as collaterals in online pawning. With these four unbeatable advantages, using online pawning to get extra cash is now the preferred way to get much-needed extra cash, with ease and without stress.

How do you maximize growth of your money when you have no time put up a business and have a low risk tolerance for investment?

Time deposits may be the right answer for you.

In the history of banking, no other product has better served the financial needs of depositors than the time deposit.

Leveraging on the principles of time and compounding, a depositor can use the bank as a tool to grow money more than what is earned in a traditional savings account.

If you are unfamiliar with this easy strategy to earn more money, read on to learn about the amazing benefits of making a time deposit:

Compounding Multiplies Your  Money

Also called ‘Term Deposit,” a time deposit usually has a higher interest rate compared to a traditional savings account.  Since there is a specified time that your deposit is held in the bank, say 30 days to 90 days, the amount can be used by the bank for other investments or for its lending operations.

The bank also has more time to get back its profit from those investments or lending operations, a part of which is paid back to the depositor as interest.  In some cases, a time deposit has a 180-day holding period which is far different from a traditional savings account where a depositor has access to the funds at all times.

Some banks have time deposit products that mature in two years to as long as six years, or even longer. The longer the time deposit, the greater the yield.

Now, how does compounding positively affect your time deposit?

Let’s say you invest P10,000 in a time deposit with a 5% interest that would mature in one year.  After 12 months, your initial P10, 000 would have earned P500 in interest.  So the balance of your time deposit account would now be P10,500 — without doing anything except allowing your money to stay in the bank for the specified time period.  These days, a traditional savings account only has a 0.25% interest rate per annum, which is way below what you could earn from the interest rate for a time deposit.

Little to No Risk, Guaranteed Gain

Another clear benefit of a time deposit is the fact that all you need to do is to agree to the terms set by the bank and wait for it to mature.  No labor required from you to earn interest but the gain is guaranteed by the bank.

A time deposit is also less risky as compared to entering the stock market, establishing a new business, or even investing in real estate.

 Waiting Time is Your Choice

As mentioned above, there are different maturity periods for time deposits. That means you can choose how long you will wait for the deposit to mature.  The longer you wait, the higher the income in terms of interest. But in case you know exactly when you need your money, you can always choose the shorter term deposits.

Indeed, a time deposit is a wise investment tool that allows you to have the power of choice and provides you the chance to grow your money with little effort and risk.

There are 2.4 Million Filipinos working overseas across the globe. Most, if not all, remit huge sums of money regularly to support their families in the Philippines.

Even with their well-paying jobs, it seems that many overseas workers still need to learn the financial skill of saving money so that they can have a good life now and during retirement.

How much money do overseas workers really earn? Records show that for the month of April 2017 alone, the total remittances amounted to a staggering US$2.083 Billion. The sheer amount of remittances by overseas workers makes them literal heroes of the country. Through hard work and sacrifice, they are able to collectively remit billions of dollars that help keep the country’s economy afloat.

Despite their ability to work and earn large amounts of money, many of overseas workers are still financially challenged. It is not uncommon to hear of a retired overseas worker who has very little or nothing left even after 20 years or more abroad. Worse, some of them fall into serious debt even after earning good money from their overseas work.  Their financial challenges eventually impact themselves and their families, and ultimately, the country’s economic situation.

Financial success, as one expert once said, is not about how much you earn… it is about how much you keep and how much you grow what you’ve earned. Sadly, not a few overseas workers have learned this truth the hard way.  Some have accumulated tons of debt, others have lost their hard-earned cash because of frivolous spending, while others have remitted their money to the family which, in turn, wasted ever single cent.

Clearly, every overseas worker needs to be smart with money. Being smart with money starts with following these simple but indispensable tips to financial success:

Stick to a Budget.  Sticking to a budget is a must not only for the overseas worker but for the rest of the family that receives and uses the cash remittance. Living abroad, the loneliness caused by separation from one’s family may cause an overseas worker to turn to palliatives to soothe the suffering. For many, this palliative is mindless shopping for one’s self and for the loved ones back home. While each and every shopping trip may be an act of love for one’s family, the package of presents later on become a gaping hole where money is lost. Having no control over one’s shopping habits also makes an overseas worker fall into the trap of excessive materialism, which also drains the purse. In short, knowing the difference between needs and wants must be the first order of the day. Strictly following a budget is definitely something what every overseas worker needs to do.

Pay-Off Debts. Having unpaid debt is like storing water in a bucket full of holes. It is wise to set aside money every payday to pay for debts. One cannot effectively save money if there is still debt that is not paid for in full. Specifically for credit card debt, it is best to pay off the credit card debt with the bank that has the highest interest rate. It is also advisable to research on debt consolidation so that you only pay one interest rate on a single debt instead of paying of several banks.

Avoid Debt. Logically, one needs to avoid incurring more debt. As mentioned above, one needs to stick to a strict budget to avoid spending more than what one has earned.  For credit cards, some people have done the extreme of actually cutting off all their ‘plastic’. Some realistically just keep one credit card but only use for real, pressing financial needs such as a medical emergency and never for shopping, eating out, or going on vacations.

Invest. Once every single debt has been paid, an overseas worker can focus on growing his or her hard-earned money.  There are many investment tools available that offer higher returns than the interest rates from the bank. Placing money on mutual funds and other paper investments are good options for those who have time to study these types of financial tools and platforms. For the traditional investor, buying real estate such as condominium unit or apartment that can be rented out is a good source of passive income.

Get Financially Educated.  Getting rid of debt, managing one’s budget, and investing to grow money take financial education. Learning about how banks work, the different types of investments, or perhaps running one’s own business takes knowledge and discipline. Reading books, going to seminars, or even hiring a financial adviser are wise steps to take in order to improve one’s ability to build wealth over time. A simple but good example is knowing which is more efficient, sending money remittances via traditional banks or through established remittance companies like Cebuana Lhuillier. Comparing the transaction charges would clearly give an idea which one is more overseas worker-friendly.

By following these simple tips, an overseas worker regardless of profession or salary scale, can indeed stretch the money to meet present needs and better still, send more to the family so that could invest and prepare for the future.

In the past, a person who needs extra cash would have to travel all the way to the nearest pawn shop. Bringing his or her item to be pawned was an extra burden because of the cost of fuel if one is driving a car, or the fare to be spent for a taxi or bus. Added to the burden is the risk of carrying around an expensive or heavy item all the way to the pawnshop. Once the pawnshop is reached, falling in line to wait for one’s turn to be appraised also consumes time and effort.

Today, one does not need to go through all that hassle. Leveraging the power of information and communications technology, the 21^st century pawnshop is now online.

Online pawning is the latest method or platform for getting extra cash by pawning an item with monetary value. Unlike traditional pawning at a brick-and-mortar establishment, online pawning is definitely time-efficient, easy, and usually offers more cash to meet your need.

So how does Online Pawning work?

Typically, one has to register and have an online account with an online pawning service.  With a stable internet connection, a person can use his or her phone, computer, or any other gadget to access the online pawning service.

The next step is to take a photo or upload an image of the item to be pawned onto the online pawning site. The online appraisers will examine the photo and usually take only a few minutes to send back a reply. Once your item is approved, the online pawning service will schedule a pickup at your preferred address.  They have authorized couriers who will come to receive and handle the pawned item.  Once your item has been appraised and approved, the online pawning service will deposit the corresponding amount to your own bank account or use other convenient payout options.

These are some of the outstanding benefits or advantages of Online Pawning:

High appraisals

Online pawning offers a higher appraisal than the brick-and-mortar pawnshop because of lower overhead costs to run the business. A traditional pawnshop takes an enormous amount of money to set-up beginning with construction costs that could easily go take hundreds of thousands if not millions of pesos. Aside from construction costs, the traditional pawnshop has overhead costs for water, electricity, rent or lease (if building is not owned by the company), salaries for the staff and security guards, security equipment such as CCTVs, to name a few.

Since online pawning relies more on technology rather than physical infrastructure and other business expenses, the pawning company need not pass on the cost to the customer in the form of high interest rates.

No need to leave your home or office, save time and effort

Using an online pawning service is also a great time-saver.  There is absolutely no need to drive all the way or take public transport to reach the nearest pawnshop.  The online accessibility of the service allows a person to avoid the time-wasting and stressful travel through the city’s heavy traffic or during inclement weather. Since the online pawning service will also send couriers to pick up the approved item, all you have to do is wait for them to arrive.  So the pawnshop literally comes to you and benefits from the online pawning service can be accessed using wi-fi and your fingertips.

Tech-Enabled Transactions

By using technology, pawning an item online is so much easier. You are able to make the transaction anywhere you are. This advantage is especially relevant and useful to Millennials who are perhaps the most tech-savvy generation in all of human history. No need to fill-out forms and physically bring the item to be pawned to the shop.  Online help for your financial needs has never been this convenient.

Indeed, with all these unique advantages, online pawning is one of the best ways to handle emergencies and meet your financial needs.

The old folk song says it all:  “Magtanim ay ‘di biro…”

It is not an exaggeration to state that farming in the Philippines may be considered a tough business or source of livelihood.  It is an endeavor surrounded by risk and hardship.

Aside from the seasonal typhoons that wreak havoc on crops, farmers also contend with the threat of El Niño and La Niña, insect and fungal infestation, and fluctuations in crop prices in the market. Another major challenge is the fact that the average age of the Filipino farmer is now at 57 years old.

For these reasons, the average farmer needs all the help he can get especially in the aspect of micro-financing.  From planting the seeds, to growing the crops, up to harvest time and bringing the crops to market, the farmer needs cash to support his livelihood.

The good news is, microfinancing is available to small-scale farmers from Cebuana Lhuillier Bank.  Aside from being the country’s top pawning and money remittance facility, Cebuana Lhuillier Bank has embarked on yet another excellent service — this time to assist our country’s farmers who literally keep the country alive by being at the center of food production.

Through special loans designed for the needs of the Filipino farmer, Cebuana Lhuillier is able to extend a lifeline to thousands if not millions of farmers who toil under the hot sun in order to produce food.  These loans are easy to apply for, processed fast, and are truly accessible to farmers from different scales of land, types of crops, and production capacity.

With an agricultural loan, a struggling farmer can buy new seeds after his previously planted crops were wiped out by a storm.  With a timely yet easy-to-pay loan, a farmer who is burdened by limited water supply now has the cash to invest in irrigation equipment.  Farmers who face challenges during harvest time can buy additional tools or equipment to improve productivity, which is made possible through an agricultural loan from Cebuana Lhuillier.

Simple Loan Processing. When a farmer visits Cebuana Lhuillier Bank, they won’t be hassled by long forms to sign or by a lengthy list of requirements.  The bank knows that the needs of farmers are urgent and further delays could only cause more damage to crops and to the farmer’s livelihood.

Fast Transactions.  Farmers play a critical role in society in terms of making sure that every table in every home receives food, especially rice which is the staple of the Filipino family.  They can only perform this important role if they are able to transact fast and without delay, most critically during times when they need financial assistance for the farm. Cebuana Lhuillier Bank makes sure that transactions are swift and efficient so every farmer can focus on growing their farm and producing the food that our families need.

Easy to Pay.  Knowing the true conditions of farmers and the challenges they face each day, Cebuana Lhuillier Bank has structured its agricultural loans in a way that favors the small-scale farmer.  Interest rates are kept at a minimum and the loan payment schedules are flexible enough to jibe with the pace of farm production and typical cash flow of small-scale farmers.

While farming is certainly no joke given its inherent challenges, farmers can truly find a reason to sing with the agricultural loans made available to them. By using these financial tools wisely, our farmers can achieve the success they’ve always dreamed of while keeping our nation’s food supply steady and strong.

Maintaining your household budget is not easy, yet it is manageable. You may be surprised of the huge amount of effort moms exert just to make ends meet. Utility bills are also not getting any lower, which is why certain aspects of the expenses put into your home must be stretched, in order to fill in the gap or days leading up to your pay day. In such case, there are various ways to manage your household budget, perhaps make it last for weeks without sacrificing any of your family’s needs. What follows are tips that you may apply in order to reduce expenses, and even save up for possible future needs:

Separate needs from wants.

Avoid giving in to the urge to buy expensive gadgets and apparel. This is one major factor that may quickly deplete your household budget. Food and beverage is priority, health care comes after that, and utilities (bills) are last, but not the least.

Prepare an emergency fund.

Some things can happen in a flash, leaving you unprepared at times. This is the main reason why you must set a few amount per month for your emergency fund. These do not literally portray accidents and illness, as there are other forms of emergencies, such as a shortage of food or utility payments.

Settle all of your debts.

Before you begin planning on how to save, focus on settling your debts. This is very important as some debts (such as bills) may incur penalty charges, and thus even leading to the disconnection of your services like the electricity and landline.

Base your budget from your earnings.

You cannot make realistic goals with unrealistic earnings. This means that depending on your monthly income, your savings would only be a percentage from those. You may try to set a 10% from your salary to be deposited at the bank, however, that percentage varies and may be affected by your needs as well.

Insure your properties.

Add this as a major factor to your household budget. Insurance may require you to pay monthly, however, having your car (and even your home) enlisted may save you a lot, especially as the Philippines is a typhoon prone country, and properties may get damaged due to constant storms. This will help you manage your household finances more, given that you’ll be saving big with insurance.

When it comes to sudden expenditures and unpredictable charges, you can never be too sure, so you must always be prepared. One great example is property damages due to calamities. It is a heavy burden to carry, but much heavier is it to carry injuries and its related expenses. As an employee, you would also be absent from work due to the injuries, hence your need to recover while missing many paid days of work. Worry no more, as here in Cebuana Lhuillier, we offer.

Image Source:
http://www.aarp.org/money/credit-loans-debt/info-2016/pay-down-debt-photo.html#slide5
https://pixabay.com/en/shopping-spending-till-slip-879498/
https://www.cebuanalhuillier.com/insurance/

Emergencies are always unexpected. Aside from injuries and possible property damages, you would have to deal with the emotional stress of handling whatever comes your way. Your best option would be preparation: assembling first-aid kits, insuring your properties, memorizing emergency hotline numbers, among others. Yes, while your full proof plan may be solid enough to surpass any form of calamity or sudden occurrences, it is important to note that money may play an important role during and after your preparation, which is why it would also be wise to set aside an emergency fund. With that in mind, here are a couple of tips to build your own emergency fund:

The question shouldn’t be “how much you have left?”, but rather “what can you set aside as early as now?” 

Every pay day, put aside a certain amount towards your emergency savings before tending to other expenses. Once this money is safely in your savings account, you won’t be tempted to spend it. Yes, we all have bills to pay, but much bigger will the expenses be if we fail to set aside for future use. Make most of your monthly pay and prepare an account that would be beneficial to your emergency fund.

The more you do it, the more natural it becomes.

As with human nature, habit is a contributing factor to our routines. Doing something over and over again makes it second nature to us, which is why you should consider setting up your habit first. When you put aside money for one pay day, keep on doing it for the upcoming amounts, you would be surprised at how much your emergency fund had ballooned over a few months of your saving.

Consider cutting your expenses.

Not everything that we usually pay for lands on the “need” list. Your needs should outweigh your wants. An emergency fund is definitely a major need and you wouldn’t want to reach the point where you are almost penniless during emergencies just because you failed to save. Know where your priority lies and always be prepared.

When it comes to emergencies, you can never be too sure, so you must always be prepared. Property damage is a heavy burden to carry, but much heavier is it to carry injuries and its related expenses. As an employee, you would also be absent from work due to the injuries, hence your need to recover while missing many paid days of work. Worry no more, as here in Cebuana Lhuillier, we offer the EmployeeCARE, a Group Personal Accident Insurance specially designed for employees. It covers Accidental Death, Disablement & Dismemberment (ADD&D), Accidental Medical Cash Aid, Burial Benefit (Accident/Sickness), Unprovoked Murder & Assault (UMA), Motorcycling and Personal Liability. So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

Image Source:
https://pixabay.com/en/moneybox-pig-piggy-saving-bank-158346/
https://www.pexels.com/photo/black-calculator-near-ballpoint-pen-on-white-printed-paper-53621/
https://www.cebuanalhuillier.com/insurance/

OFWs are the modern heroes of our time. It’s a statement that may have been overused, but it definitely holds truth. It requires a lot of courage and determination to be away from your loved ones, in exchange of giving them a convenient and bountiful life. Needless to say, their sacrifices are worth it as they are able to provide their family enough financial sustenance to get through every expenses. As for their families at home, it would only be wise to stretch out the budget and make good use of the amount being sent to them every payday. After all, that is money gained from the hard work of their loved one abroad. Here are just a few ways to manage money remittances from our OFW relatives:

Plan out your budget.

This requires proper timing. Communicate with your loved ones abroad on when they would be sending the next amount, or at least the time frame of their remittances. This would be vital as you need an accurate estimate of your expenses and how long you’ll have to wait for the next budget. This would allow you to stretch out the amount and make adjustments just to fit your everyday expenses.

Comparison of product prices.

There is a reason why OFWs love to haul in “balikbayan” boxes every time they pay their loved ones a visit in the Philippines. Items such as corned beef, toothpaste, and even shoes may also be found in our local malls and groceries, however, they are offered at a lower price in other countries due to economic differences, hence, it would be wiser to just save up on the monthly remittances by avoiding any expensive purchases, then asking our OFW loved ones to avail the items from their end instead.

Prioritize needs over wants.

This is related to the second pointer. You would not need to avail expensive apparels or gadgets here in the Philippines as their local prices are sky high. Since they are much cheaper abroad, you may just request your loved ones to avail the items from their end and bring it with them when they come home for vacation. In this way, the remittances you’d be receiving would be sufficient for needs such as utility bills, school fees, etc. Such wise decision would enable you to even save up for emergencies and other future use.

With all of these in mind, you and your loved ones are hoping for a remittance service that would only provide the smoothest transactions possible, with no hassle and delay along the way. Well worry no more, as we at Cebuana Lhuillier offer our Pera Padala Service, an easy, quick, and safe way to send and receive money. With more than 2,000 branches nationwide and accredited international partners, this money transfer service is made available to clients within and outside the Philippines. All transactions are real time, which enables clients to claim the money as soon as the sender completes the sending process in the branch. So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

Image Source:
https://pixabay.com/en/coins-calculator-budget-1015125/
https://pixabay.com/en/checklist-to-do-activities-boxes-1766064/
https://pixabay.com/en/stamp-priority-preference-special-2022906/

It’s your first time to get car insurance and you’re excited to receive a great deal. You think that this will definitely help you save in the long run; after all, insurances were made so that you may avoid major expenses in injuries, repairs and other property damages. However, there are things that insurance companies are not willing to tell you, one of which is that you may be paying more than what you bargained for. Car insurances have their own equivalent rates and there are factors affecting this rate, hence, you must be aware of these in order to adjust your budget, and hopefully, avoid roadblocks in your savings:

Your address

Your home address would affect your insurance premium in the long run. Of the all the factors that affect car insurance rates, location is chief among them. Insurers would take note of your neighborhood’s crime rates, population, weather patterns, and the severity of claims made annually. This is because they are assessing the risk that your car may be subjected to, and from there, they may be able to analyze the amount or the right package that would be fitting for you and for their business, with the implication that you and your insurer should have a win-win situation deal, even when at times it may seem costly than the average.

Your age

Surprisingly, this is also a major factor when it comes to insurance rates. Your age would reflect the type of premium that you may need, especially if you are young or in your early 20’s. A study from the Insurance Institute for Highway Safety (IIHS) indicates that the fatal crash rate for teen drivers is three times those of drivers over the age of 20. It may be a rough estimate, but that doesn’t stop your insurance company in determining your options. On the other, older drivers tend to be involved in more accidents. People aged around 75 to 80 may have difficulty with their eyesight, hence the statistical result. This also plays an important role in your insurance premiums, which also implies that risk a major factor in your car insurance rates.

How you usually use your vehicle

How you use your ride will also affect your premium. If you use your vehicle for commercial purposes, like for Grab or Uber, you may need to disclose this. Failure to do so could result in a denied claim if you are in an accident while on the job. If you have a long commute or drive frequently after midnight, expect your rate to be a bit higher as the time and longevity of your travel also imposes risk on your vehicle.

After reading all of the determining factors for your car insurance rates, you finally agree to get one. However, you are unsure which is which. No worries as we had got you covered. At Cebuana Lhuillier, we offer the AutoCARE Insurance, a Standard Comprehensive Car Insurance that covers Own Damage (OD), Theft, Loss and/or Damage. Excess Bodily Injury (EBI), Excess Property Damage (EPD), and Acts of God/Nature (AOG/AON). So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

Image Source:
https://www.pexels.com/photo/red-sports-car-miniature-ferrari-35964/
https://pixabay.com/en/navigation-gps-location-google-2049641/
https://www.pexels.com/photo/timelapse-photography-of-vehicle-on-concrete-road-near-in-high-rise-building-during-nighttime-169677/

A time deposit account may be more beneficial for you than any other type of bank account. Yes, various accounts have their own features, each with of their underlying pros and cons as well. However, if it’s your intention to save money, then this one may be your best option. Why would I even apply for one, you may ask? We have enumerated a few important factors that may describe why a time deposit account is beneficial for you:

It provides you with a higher interest rate.

Unlike a savings account, a time deposit gives you a better value for your money when it comes to interest rates. While you are patiently waiting to withdraw your money at a certain period of time, the accumulated interest will be higher than the average, thus adding more to the cash amount. It is not to say that it’ll give off a large sum by the time that you withdraw; rather it would at least provide you with a little extra, beneficial for those days that you will require more for an allotted budget or expense, much like an emergency fund.

You get to choose how long you want to invest your money.

A time deposit account also enables you to customize your investment, providing you with options ranging from 30 days to ten years. When you really want to put aside cash without the fear of impulsive shopping, thus, forcing you to withdraw anytime, then this type of account will help you value your savings more. If you opt to go for a whole month without touching any of your hard-earned cash, then at least a time deposit would help you accomplish that. Take note that emergency funds may not be suitable for this type of account, as you may need to withdraw for those immediately while this one restricts you from doing so.

You can choose to have more than one fixed deposit account.

Yes, it will enable you to save, but how does it stack up for emergency purposes. No need to worry, as you may opt to have more than one time deposit account. To accomplish saving a huge amount, you may choose to avail an account with a longer investment period, while on the other hand, a shorter investment period would enable you to withdraw, perhaps just in the nick of time when an emergency arises. Manage your money properly and strategize with your accounts.

Be a master of your savings and hard-earned money with a trusted name that offers only the best service possible. If you’re a resident of Bacoor, Cavite, Calatagan, Batangas then the Cebuana Lhuillier Rural Bank is your one-stop spot for opening your own savings account.

Image Source:
https://pixabay.com/en/hourglass-money-time-investment-1703349/
https://pixabay.com/en/pocket-watch-time-of-sand-time-1637393/
https://pixabay.com/en/coins-currency-investment-insurance-948603/

When accomplishing a loan for your business, surely you would like to use it wisely. It may have taken a great effort in getting the approval for your capital; however, it is a much tougher struggle in using your funds in the most budget-friendly way, making sure that not a cent gets wasted. There are many ways to get the most out of your business loan, regardless of the size of your venture. In most cases, people tend to overspend, putting them in more debt. This should be avoided, which is why we had enumerated a few important factors to consider in handling the amount set aside for your business:

Put the money in a separate account.

Your personal account should not be mixed with the business capital. There are banks offering accounts which are specifically set up for money used in businesses. Inquire on this aspect as separating your personal money would be critical to managing your capital. This would enable you to avoid overspending, in that you would only spend your personal cash, and not the capital that you would be putting into your venture.

Set up automatic loan payments.

When you were requesting for a loan, you made a promise in the form of a contract. This contract demands that you pay a particular amount in a specific set of time, countersigned by the lender. In such case, having overdue or missed payments on your loan can really hurt your credit score, and make it more difficult for you to borrow money in the future. Avoid missing deadlines at all cost. Setting up automatic payments transfers the needed amount without giving you any hassle. Even if you would forget to pay, the automatic payment already saved you from having a blemished paying record.

Don’t assume that once you’ve got funding, you are all set.

Always be prepared for any unforeseen expenses. This is one of the main reasons why you should save and keep every expense recorded via receipts, so that you may not overspend and still be able to keep a few amounts aside for possible fees, with regard to your business process. Remember, the best plan to execute is a well-thought plan that would save you and your venture from debts and deadlines.

If, after learning of these various types of loans, you are still doubtful of which one would best work for you and your business, worry no more. We at Cebuana Lhuillier offer Lucky Loans, a multi-purpose loan offered to SMEs such as restaurant and mini groceries, among other businesses. It is convenient, fast, and secure. So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now!

Image Source:
http://tweakyourbiz.com/finance/2015/02/12/what-is-a-typical-interest-rate-on-a-small-business-loan/
http://www.bmmagazine.co.uk/in-business/advice/3-reasons-keep-business-personal-bank-accounts-separate/
http://businessadvice.co.uk/tax-admin/year-end/three-quarters-of-self-employed-workers-use-personal-accounts-for-business-finances/

Accidents happen. This is the main reason why many would avail of car insurance–to avoid spending big for damage repairs and possible hospital bills later on. There are various coverages in terms of car insurances, however, always remember that not all coverages are applicable for you. There are only a few that would save you a lot of money, depending on your needs. With this, we had enumerated few tips to keep in mind in order to save on car insurance:

Choose a well-known insurance company.

The thing about companies with familiar brand names is that there is a reason why a lot of people know about their products and services. An insurance company that has been around for decades would obviously be better trusted than those that just came into existence after a few years. Aside from the fact that well-known companies had already stood the test of time, some also implement promos and discounts on car insurances and coverages. Grab this opportunity as well, while transacting with a tested insurer.

Do an Annual Rate Check.

The thing about prices is that they constantly change with the flow of an economy. The insurance fee for today may be a lot different tomorrow, which is why you should time your purchase of car insurance. Ask around different companies and request for the price list of their coverages. Know if there are any hidden charges, be familiar with the different aspects of their coverage, and choose one that would best work for you. Many would mistakenly choose a higher price, not knowing that there is a lower alternative from another company, an expense that was not avoided due to lack of research.

Report Reduced Mileage

One of the factors affecting the cost of car insurance is miles driven per year. The average is about 12,000 miles. But if you’re driving a lot less than usual for some reason, like a job change or retirement, let your insurer know. Your reduced driving could cut 5 to 10 percent off your premium. This is due to the fact that, the less you drive, the lesser chance of you getting involved in an accident. Again, take note that this is applicable for those undergoing job change or retirement, which means you either cover only short travel distances or do not travel at all.

You finally decided to get a car insurance. However, you would prefer an affordable one that would really look out for you in times of need. No need to worry, as here in Cebuana Lhuillier, we offer the AutoCARE Insurance, a Standard Comprehensive Car Insurance that covers Own Damage (OD), Theft, Loss and/or Damage. Excess Bodily Injury (EBI), Excess Property Damage (EPD), and Acts of God/Nature (AOG/AON). Be a hero on the road, be safe, and be insured. Visit your nearest Cebuana Lhuillier branch!

Image Source:
https://www.pexels.com/photo/green-scale-model-car-on-brown-pavement-35967/
http://premierchoiceaz.com/top-reasons-high-car-insurance-cost/
http://www.brokerservicenetwork.com/top-7-tips-finding-good-life-insurance-company/

It’s tough to get rejected when you’re applying for a business loan. No approval, no business capital. Indeed, borrowing money for your business may seem complicated, as many are turned down, regardless of the type of business they have in mind. However, this doesn’t mean that your chances would always be slim. As a matter of fact, there are already several factors that may affect, and even improve your chances of borrowing the capital amount–you would just need to prepare in advance. Here are a couple of ways to improve your chances of getting a small business loan:

Prepare and smoothen out your business plan.

Lenders would like to see what you have in mind. They would like you to convince them that once they lend you your capital, you would succeed in your business and be able to pay back what is owed. The road map of your venture would be better explained in a business plan. You don’t need to include gimmicks when presenting lenders with your idea; you just have to be clear with your goals and your strategy in making your ideas work and turning your dream business into a successful reality.

Don’t settle for a single lender.

As with all choices, proper analysis of your options would enable you to go for a wise decision. Having the right lender by your side would mean that you wouldn’t have to deal with the hassle that comes with tight time frame for payments and very strict regulations. In some occasions, you may even negotiate when to pay and how much you would have to provide in a particular amount of time. “Shop” for different lenders and choose the one which would best work for you and your business in the long run.

Prepare more than one payment plan.

As with never settling for just one choice of lender, you should also prepare for multiple payment plans as well. There are many expenses along the way and you would need to cope per each due date, either that or you would get penalized for late payments. Think about the finance you need and the purpose and period you need it for, then prepare two different payment plans. Having a clear payment plan will make you appear to be a responsible borrower and increase your chances of approval.

Get a jumpstart on your business venture with a trusted name that offers only the best service possible. If you’re a residence of Laguna and Southern Metro Manila, then Cebuana Lhuillier’s Lucky Loan is definitely your top choice. It is a multi-purpose loan offered to registered entities such as tricycle operators, credit cooperatives, and other groups, as well as SMEs such as restaurant and mini groceries, among other businesses. Our network of more than 2,000 Cebuana Lhuillier outlets and online presence give customers unlimited access and utter convenience in applying for a loan. Our five-point application to disbursement process ensures services are delivered on time. So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

Image Source:
http://www.businessbee.com/resources/profitability/finance/6-things-youll-need-to-secure-a-small-business-loan/
http://www.greenbushfinancial.com/sample-business-plan/
http://www.swgordoncpa.com/irs-payment-plan.php

Once in a while, we get the idea of getting our own personal loan to meet various needs. They are actually a preferred type of loan for some as they may pay off the loan within a set amount of time. Other than that, it may seem practical as it offers the feeling of financial freedom, especially for those who are looking to have a little extra when it comes to expenses. With this, you may want to experience the same cushion in terms of financial stability; however, there are factors to consider when applying for one. Here are some pointers to consider before signing up for a personal loan:

Have one that matches your needs.

There is a reason why you would like to apply for a personal loan. You may either want to consolidate your credit card debt, improve your home, invest in your business, or simply take a vacation. Regardless, knowing the purpose of your loan would help you not only receive the best deal out of the whole process, but also remind you of the terms involved in the underlying payments that you would have to accomplish after a set amount of time.

Choose the right lender.

There are many financing sources that offer personal loans; each has their own policies and interest rates. Shop around and find a lender whose loan products best fit your needs so you may adjust and adhere to the regulations and time period given to you. Also take note of the requirements, as varying financial sources would mean varying documents as well.

Read the fine print

Being cautious helps a lot, especially in transactions that involves a lot of money. Be firm in asking for a full disclosure of all the loan terms and make sure to read the fine print. There are differences in the regulations offered by different lenders. See if the monthly payment and repayment terms work for you. There also could be penalties for late payments.

After reading through our tips, you would definitely want to choose a loaning service that would best be applicable to your needs, without all of the hassles. Look no further than Cebuana Lhuillier’s Happy Loan, a multi-purpose loan amounting from Php 5,000 to Php 15,000 offered to any individual who is employed, self-employed, student, or a remittance beneficiary. Our network of more than 2,000 Cebuana Lhuillier outlets and online presence give customers unlimited access and utter convenience in applying for a loan.

Image Source:
http://www.imoney.ph/articles/the-best-personal-loans-in-the-philippines-2016/
https://www.coach2connect.co/needs-in-relationships/
https://carleton.ca/campuscard/terms-and-conditions/

Loans vary, depending on your needs and preferences. If you decide to open your own business, you would need capital, or the preliminary amount that you would use to startup your venture. You would like to start immediately, however, your savings aren’t enough to accommodate the overall capital itself. So you choose to borrow money for your business; in short, you apply for a loan. In such case, you have two choices; one is a bank loan while the other is a private lender loan. You’re not sure which to take up, so you do your own research. No need to look further though, as we had enumerated a few differences to help you decide:

Bank Loans offer lower interest rates than Private Lenders.

You read that right, they do offer lower rates. You may be wondering why. Well, banks have lower cost of funds than lenders. Depositors keep a lot of money in their checking and savings accounts, hence, banks have easy access to those funds to lend out. And, if banks don’t pay interest for those deposits or pay very little interest then those funds are very cheap for the bank to use. It is also notable that Private Lenders borrow the money that they’re going to lend from the bank itself, which is why they have a higher interest rate, since additional fees would be given to the “middle man,” in this case, the lenders themselves.

It is easier to get an approval from Private Lenders.

Just when you thought that the first pointer would convince you to immediately apply for a bank loan, you end up reading this second pointer, which is to say that it is much easier to get an approved loan from a Private Lender. The reason for this, you may ask? While banks definitely have the freedom to lend out funds at lower rates, they hardly do. Banks are the main rivals of Private Lenders, which is why they would just need to lower their rate a little in order to make you decide in choosing them instead. If the Private Lenders offer you a 10% interest rate, the banks (cunning as they are) would only have to charge you 9.8% in order to convince you that they are a much affordable choice. Aside from this, they would also require a lot of paper work and pre-requisite documents, unlike Private Lenders.

Go for the one which you will most likely get approved for.

This is the best factor to consider. Don’t feel bad for not getting your preferred method, you may try out for the other one and try again in the future, when your business is finally reaching its peak. The best thing about having two types of loan is that you are not restricted to just one method. Do your research, learn from every mistake, and strive to achieve the loan that would be most beneficial to your business.

Get a jumpstart on your business venture with a trusted name that offers only the best service possible. Cebuana Lhuillier’s Lucky Loan is definitely your top choice. It is a multi-purpose loan offered to registered entities such as tricycle operators, credit cooperatives and other groups, as well as SMEs such as restaurant and mini groceries, among other businesses. Our network of more than 2,000 Cebuana Lhuillier outlets and online presence give customers unlimited access and utter convenience in applying for a loan.

Image Source:
http://www.al-amanahbank.com/
http://www.shortterm.com/uk/list/get-loan-bank/
http://www.wedecor.ae/authority-approvals/

Safety and security is everyone’s top priority. While most safety measures are practiced on the road and in the office, one must not forget to take the same measures in money remittance. Money transactions may look simple and totally risk-free, however, you must also be aware that there are people who do not have your best interest at heart. In this case, you must always be careful and knowledgeable when it comes to money remittances. Here are just a few factors to consider when sending money to your loved ones in the Philippines:

Consider foreign exchange rates before every transaction.

The amount you’re sending would equal to a much bigger amount when it reaches the local remittance outlets, however, you must also time your transactions, in terms of following the foreign exchange values. A dollar that amounts to 49 Pesos today may be equal to 45 Pesos tomorrow. Study the ever-changing patterns to ensure that your loved ones back in the Philippines would receive a much bigger value.

Choose a well-known remittance center.

Some remittance center offers a low service charge for the transaction, but holds the risk of a non-secured transaction. It is much better to deal with a reputable agent to avoid any hassles or possible scam in the long run. Your loved ones would be waiting for your money transfers, ensure that they would receive it and not some unknown stranger.

Make the most of technology.

Instead of visiting an agent, you may just transfer money using your smartphone. There are certain apps that allow you send money with just a few clicks. Avoid long lines and send the amount on time.

With these factors in mind, you are ready to send your hard-earned money to your family back at home; however, you are still undecided as to which remitting center you should transact with. Well no need to look any further, with Cebuana Lhuillier’s Pera Padala Service, you are ensured an easy, quick, and safe way to send and receive money. With more than 2,000 branches nationwide and accredited international partners, this money transfer service is made available to clients within and outside the Philippines. All transactions are real time, which enables clients to claim the money as soon as the sender completes the sending process in the branch. So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

Image Source:
http://blog.orbitremit.com/sending-online-remittances-to-the-philippines-fast-easy/philippines-money-transfer/
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You’re hoping to sell a couple of items (extra gadgets or jewelry) in order to earn a little extra cash. You decided to pawn those items, instead, so you may conserve time and energy. In such case, you would like to make sure that you would get the best value possible. This value or money return is determined by what we call the appraisal, or the amount of cash that would be given to you in exchange for the items that you would pawn. This means that if you come unprepared, you may only be given a small amount in cash return for the items that you had surrendered. Here are just a few pointers to consider in getting the best appraisals in pawnshops:

Clean your jewelry.

No pawnshop will give you a proper appraisal when they see that the item is either dirty or dismantled. You may even be accused of scamming your way to a good pay. Remember that all surrendered items should be in clean, mint, and proper condition. Shine your gems before bringing them to the pawnshop, make sure that no dirt is on the gold, and make your silver sterling. They’ll show better across the counter, and you’re likely to get more money.

Do your own research.

Learn to inquire on the offered amount. How much would the pawnshop and appraisers pay you in exchange for your gem? You may be surprised that the prices of jewelry change from time to time, even quicker than some other products, hence another reason to have it appraised as well as routinely as you can. This doesn’t mean that you should have it validated monthly, rather, whatever changes you may hear from the store you may confirm via the appraisers, only then may you know the current selling price of your jewels. Knowing the right value would save you from possibly losing something and not getting the fair amount at all. Be informed at all times and stay firm on your price range.

Visit a well-known pawnshop.

This is related to the second factor to consider. Remember that reputation is everything, which is why you should only transact with a pawnshop that already has a reputable stance and familiarity with its customers. While other pawnshops may try to convince you of great cash returns, there are cases of hidden charges per transaction, a fee that no one wants to pay for. Pawn your items only at the most trusted name, save yourself from hassle while earning a fair amount in return.

With all of that being said, you may be looking for a pawn shop that would provide you with the most honest and highest appraisal possible. No worries, as Cebuana Lhuillier has got your back. With their Pawning Service you can never go short in any amount, as they accept an array of items, from jewelry to gadgets, as collaterals. They also lead the pawning industry by offering safety and the highest appraisal rate in the industry in its more than 2,000 branches nationwide. Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

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Knowing the type of bank account that would best work for you has its advantages. Many are not aware that lifestyle is a major factor when determining the type of account. Take into consideration the features of each account and you would identify the one which you think your money will most likely be secured in. This is not to say that the other types are not secured, rather, they have different uses, and you will be most interested to learn that each functionality will bring you convenience. To help you choose, we had enumerated the main types that you may commonly come across or heard of:

Savings account

This is one of the most common types of bank account. For employees receiving their salary on a pay day, you can be sure that 95% to 100% of them at least access the savings option in an ATM. Savings account allows you to accumulate interest or incentives on the amount or funds saved within a certain period of time. These interest rates can be accumulated on a daily, weekly, monthly, or annual basis. Keep in mind though that every savings account has a required deposit amount to preliminarily open, and even a maintaining balance to sustain for a long run. It is also notable to mention that this type of account is applicable for those who do not withdraw for a long time, as it accumulates interest for a certain period of time.

Checking account

Unlike the savings account, this one is applicable for those who usually withdraw money for their everyday needs; it also keeps your cash secure. You may use a debit card or check to avail of products and services, and even pay bills. Keep in mind that each checking account has an equivalent package, containing features that match your purchasing habits. There are also options to waive certain monthly service fees, as you would indeed be using this account more often and you would like to avoid accumulating service fees from numerous transactions.

Current account

This may very well be the type of account that describes the first two, in the sense that it features similar traits with both of them. It is also an account for everyday use, rendering it flexible in functionality. Two or more people can even set up this type of account and call it a joint account. It works like a current account except each person has a check book and card.

With the proper knowledge of bank account types, you finally decide to open one; however, you still haven’t chosen which bank to apply for. Well, worry no more. If you’re a resident of Bacoor, Cavite, Batangas, then the Cebuana Lhuillier Rural Bank is your one-stop spot for opening your own savings account. All transactions are real time, erasing all the hassles that you may experience in other establishments. So what are you waiting for? Visit the Cebuana Lhuillier Rural Bank now – we assure a fast, easy and secure transaction.

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Sending money to your loved ones is simple. Most of the time, you would just have to go to the remittance branch, sign a few forms, give the agent your preferred amount, then let your family back at home know that the money is on the way, providing them the control number at the same time. Yes, it looks simple; however, you must also consider the type of remittance agents that you would be transacting with. More often than not, you pay more while your family gets less, sacrificing great value in the process. No need to worry, as we had enumerated a few things to look out for when comparing international money remittance providers:

Familiarity and reputation of the company.

As with other branded products like shoes and clothes, services with a formidable and well-known name are more trusted than those of unknown origins. This is not to say that familiar brands and services are a 100% perfect with their quality, however, there is a reason why such companies stood the test of time. Well-known companies are indeed “well-known” for a reason, and that is due to the fact that they lasted years, evolved with the needs of their clients and customers, and continued to present them with great deals throughout the years.

Remittance fees.

Whenever you are availing the service or product of a company or a particular brand, it is only normal to pay equivalent fees. Some prices are reasonable; however, you wouldn’t want to pay a huge amount of money for a service that seems very minimal. Money remittance involves a certain amount of transaction, but keep in mind that each service charge is determined by a formula or computation, deriving percentage from the amount that you will send to your loved ones back at home and not by the discretion of the remittance company itself.

Partners (banks and possibly other remittance centers)

It would be a hassle for your loved ones to travel far just to reach a remittance center from the same company where you had your money sent. Some remittance centers partner with banks and other transaction agents just so your loved ones may receive the amount, even from a different service area. Remittance partners should be abundant and easy to find, to ensure that your money will be received with the least amount of hassle, and in no time.

With these factors in mind, you are ready to send your hard-earned money to your family back at home; however, you are still undecided as to which remitting center you should transact with. Well no need to look any further, with Cebuana Lhuillier’s Pera Padala Service, you are ensured an easy, quick, and safe way to send and receive money. With more than 2,000 branches nationwide and accredited international partners, this money transfer service is made available to clients within and outside the Philippines. All transactions are real time, which enables clients to claim the money as soon as the sender completes the sending process in the branch. Visit your nearest Cebuana Lhuillier branch now!

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You’re new to banking and you would like to get the most out of your first transaction. You would like to achieve this by making the least amount of mistakes while also undergoing a smooth process. It may look easy, but banking isn’t just all about withdrawal and deposits–there are many other factors that you may encounter along the way. Here are just some of the few terms that you may come across. Knowing each may help you avoid any hassle within your transactions and enable you to have a positive experience all throughout:

Deposit

This is definitely one of the most common terms that you would get used to. This refers to the act of storing your money in the bank, classified into accounts such as a checking or savings. Depending on the type of your choice, an interest would accumulate on your account, adding a certain percentage on your savings annually, as long as you wouldn’t take the money which you had deposited for a certain period of time.

Annual Percentage Yield

This one determines how much you get paid by the bank for depositing money. This refers to the amount of interest the bank pays on your deposit account, as long as you would leave your cash within that particular account for a certain period or timeframe.

Withdrawal

This is the exact opposite of deposit, in the sense that it is the act of taking money from your account. While a savings account would motivate you not to withdraw money for a certain period due to the annual percentage yield, a checking account allows you to freely withdraw anytime you wish.

Automated Teller Machine

Commonly abbreviated as ATM, this machine handles banking transactions. These transactions include (but on some occasions are not limited to) making deposits, withdrawing money, transferring funds between accounts, and providing you with your account balance. The advent of technology also allows you to pay your bills via the ATM as well (depending on the bank or branch).

Available Balance

This refers to the amount of money in your account that can be accessed for immediate use. Take note that this is different from your current balance, in the sense that it does not have any pending debits, while the latter is the amount of money in your account at the beginning of the day excluding any pending deposits or withdrawals.

With the proper knowledge of banking terms and procedures, you finally decide to open an account; however, you still haven’t chosen which bank to apply for. Well, worry no more. If you’re a resident of Bacoor, Cavite, then the Cebuana Lhuillier Rural Bank is your one-stop spot for opening your own savings account. All transactions are real time, erasing all the hassles that you may experience in other establishments. So what are you waiting for? Visit the Cebuana Lhuillier Rural Bank now!

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Jewelry

So you’ve run out of money and are in need of quick cash. You peek into your bank account, only to find out that you do not have enough for your needs. You ask yourself, “What could I possibly do to get funds in no time?” The simple answer is to pawn your excess items, of course. Believe it or not, there are many treasures within your home that may prove very valuable in the long run; you just have to determine the value of each item. If you want to know the specific items to pawn for quick cash, look no further than our helpful enumerations:

The very first thing that comes into mind when thinking of the most commonly pawned items is jewelry. Gold, silver, and diamonds are your best choice. Prime examples of this are rings, golden necklaces, earrings–anything that can be weighted and appraised. The good news is pawnshops seldom turn down a precious gem; rather they just tend to provide a much lower value than expected. Nonetheless, you can never go wrong with jewelry.

Electronics and Gadgets

Your flat screen LED TV, game console, digital camera, tablet, laptop, and smartphone are very much welcome to be pawned. The amount to be provided to you would depend on the current value of the electronic items. Just make sure your item is in excellent condition to get the most value, with no missing parts whatsoever. You may also want to charge them before heading out to the pawnshop, so they can be tested and properly valued within the transaction.

Musical Instruments

Electric guitars and drum sets are a perfect example of this. Of course, they should again be in great, not to mention, “playable” condition. You may want to provide extra strings for the guitar and even drumsticks for the set itself, so as to raise the value of the items. Scratches and wear-and-tear are indications of a lowered value, so make sure that the instruments that you will pawn off are somehow in mint condition.

Designer Bags

No lady ever travels without her designer bag. While many may not afford to avail one, some are actually vivid collectors, so much that when all of the value gets added up, the cash return in pawning the whole cash collection may reach into the 5 digit mark. For ladies who are hoping to earn a few extra and eliminating unused, yet proper conditioned items at home, consider pawning in your well-loved bags. Trust us, the minter the condition, the higher its value.

Look for a pawn shop that would provide you with nothing less than the best value. No worries, Cebuana Lhuillier has got your back. With their Pawning Service you can never go short in any amount, as they accept jewelry and gadgets as collaterals. They also lead the pawning industry by offering safe and secure transactions, and the highest appraisal rate in the industry in its more than 2,000 branches nationwide. Visit your nearest Cebuana Lhuillier branch!

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Cebuana Lhuillier’s latest TVC puts the spotlight on its expanded domestic money remittance service through the Pera Padala Agents Network.

Join Cebuana Lhuillier Brand Ambassador Alden Richards as he travels the Philippines to highlight the more than 4,000 branches and partners nationwide!