Bitcoin Forum

Hi guys, I need your help. I want to lend in the community but first thing, I want to start it with the Filipino community. Please give me a suggestion on what to do like the basics first. I am new to this kind of business but I have a good experience in Lending business in the Physical world.

Online lending? O ung mag aaply sa office nio mismo at need p ng co maker.kung online mas maganda kung hingin mo lahat ng details dun sa pauutangin mo.

Its a good idea though, but the sense that we are in virtual world which makes it riskier than in a traditional one. But still it can be possible, you just have to be strict in qualifying for a loan.

like, if they want to apply,

-link for his fb account (no dummy allowed) minimum of 1 year account age
-cp number
-coins.ph account (by looking at his ref link you can see his picture and name)
-valid id
and any valid documents that represent his name and face, and must coincide with other document presented. :)

:)

Asking for account details and even identification files is not a guarantee that the borrower will be repaying.
If you are to start an online lending business better ask them for worthy collaterals.
Lending IRL is different than the people you can find online.

Thank you for your reply guys.

I just want to make it simple, I was thinking of not requiring a collateral because I just want to offer a micro loan at a very low amount. My idea is, it should be in a stages or cycle basis.

For example.

One Full Member account, borrowing an amount of 0.003 then I will approve that loan after all the verification of his capacity to pay. If he is in a campaign then well and good since he has a source of income. If such borrower paid the loan in complete on time, then in the 2nd loan cycle I might increase the loan depending on circumstances.

I repeat it's a micro loan, and since the requirement is not so strict, I make it a high interest loan like a minimum of 10% per loan just to match the risk involve. I know I have no hold in this but I just want to try to be profitable as much as possible and hope you guys will be able to help me as well.

Though my plans are not yet final but most likely it will the one to be implemented or a minor changes depending on your recommendation to make a win-win situation for all of us here.


Edit: I do not need to know your personal information as I respect your privacy and the amount involve is manageable enough, I am willing to accept loses because I am confident you guys will take care of you reputation here, otherwise I have to tag you red which will unfavorable for you just due to a small amount of money.

Ask this question: How much is the red tag worth?

To some people, it's not worth much, they can always create or buy another account.

If I were to offer loans, I would ask for NBI Clearance. (and a whole bunch of other identification / documents.) You know how it is having lent in the physical world.

I understand what you are trying to imply but this small amount is not worth requiring them to present a valid document to show their personal information. I would not even show my identity here if you will give me Php 5,000...

And since the collateral is not that good to force a borrower to pay, maybe I will only extend loan to those borrower who has a co-maker with a good standing in the community and also the capacity to pay is necessary as well.

If this certain person cannot pay, then I have to red tag as well the co-maker if he cannot pay also.

I was thinking of requiring at least 1 co-maker for smaller loan and 2 or more for a higher one. I guess that would be a great method.

Like in real world lending, there's a group liability, so I might as well do that here. I don't know the concrete procedure yet, I have to study it carefully, hence your suggestion are very welcome and appreciated.

agree!!

Honestly in my opinion it is very risky..if you are the co-partner or business partner it is hard to trust you since youalready have a negative trust any time you can run because your account has no value right now.
So for me your planing to start lending business if you have already a money to give loan to them  instead of asking for money for your co-worker or partner.
It is better to build trust first since you have negative trust you take an action about your negative trust feed back..
Before you can ask them about your plan..

Wow lending for Filipino its a good news . I think you need the requirement like id and coins.ph verify with the peso address and proof of billing and full member account is the minimum who can get a loan in this forum. I also suggest the interest is not high because if the interest is high less people avail if the interest is low more people for sure will avail. Try to get a lot a information in the lending section how to start a lending. Godbless for your business I hope it will become successful if you start that.

The interest cannot be low but should be competitive, as I have mentioned it should be at least 10% micro loans in a short term to minimize the risk. It could be a a week term or a max or one month but the interest varies.

basically humingi ka na lang ng valid digital collateral kasi karamihan hindi basta basta magbibigay ng identity nila online dahil pwede gamitin yun kung san man na ilegal, basta meron naman collateral wala naman problema kahit nga mga forum account lang basta hindi farmed ay ok na

collateral lang naman ang mahalaga sa lending business pare, kailangan sapat yung collateral nila sa perang gusto nilang iloan sayo, saka magkakatalo lang naman yan sa ganda ng percentage na ibibigay mo sa kanila mas maraming costumer kapag mababa at mabilis ang transaction mo sa kanila.

Yes correct. As long as may collateral na pwede magamit pra mabawi yung amount na inutang hindi na kailangan ng mga ids o kung ano pa, siguro kung daang libo ang uutangin kailangan mo na yun.

Saka kung kailangan ng id bago magpautang, tanong muna sa sarili, willing ba gumastos pra sa abogado kung sakali na hindj magbayad? Kasi dun lng naman gagamitin ang id pra kasuhan ang umutang di ba? Hehe

if you dont require valid ID's as others said then that red trust thing will do and the idea of a loan with co-maker sounds good. Better make a thread when that business of yours start to operate so you can track those account loans and their status. I can lend you some help in the future if I saw many red trust accounts on your business when it intrigues me to be able to find alt accounts. Anyways are you putting some website? or just a manual transaction here in our local board?

Kaya nga eh collateral lang naman kelangan dito at tsaka sign message mula sa naka stake na addy  for more than 2mos. syempre importante yun. And dapat mas mataas ang halaga ng collateral kesa sa loan para kung ma default man atleast may kita pa rin ang lender.

Thanks for the advance support. This business will be operated in a manual basis because I am planning to start with a small amount of capital, so I have to match everything to operate it properly with a cost-benefit.

I will be making a new thread to formally launch the business as soon as I got everything in place, or course including the capital as that is the main thing.

Maganda yan business na yan, Pero dapat talaga madami kang id na irequire bago makautang kasi madami tumatakbo kahite isang id lang silang prinovide like TALA ung lending na affiliated sa coins.ph , andaming nag load pero ang onti nang nagbayad. Mahirap nilang mahabol ung di nag bayad kasi andami dami non. Nag maintenance sila di ko lang alam kung nagdagdag sila nang req. Bago maka utang

It's a great idea, maraming nangangailangan at patok talaga yan sa mga pinoy. Marami lang need iconsider, ung assurance. Oo kaya ka bigyan ng kahit ano id pero ano pa din assurance mo na mababayaran ka. Anyway, siguro maging super ingat na lang sa pahihiramin mo, hingan mo collateral kung kinakailangan. Or ng mga reference number na pwede mo tawagan in case magloko.

lending sa mga kababayan natin dito, tatawa na lang ako alam mo naman ang mga pinoy mahilig mangutang pero pahirapan ang pagbabayad, sa labas pa maari pa pero dito sa atin naku po maghulos dili ka. napaka daming mandarambong dyan kaya medyo galing galingan mo kilatisin mo mabuti try mo na rin kumuha ng idea sa labas para hindi ka mawendang kapag marami ka ng costumer.

Hayaan mo na kung hindi sila makabayad, maliit lang naman ang papautang ko eh, at sake mas importante na hindi magka red trust, mahirap kaya humanap ng masasalihan na campaign.

This is also one of my Idea here in Local Board (Philippines) because I noticed that many of our fellow bitcoiner posted or

need some bitcoin in lending boards. Just read in in this board for suggestion and learn from it. Just click this link https://bitcointalk.org/index.php?board=65.0

So just put above your OP that this is just a micro loan. NSO certifide birth certificate is enough for identity confirmation without taking too much time. Or else selfie with their bitcoin name tag is good too. But you need first clear your reputation before start business or made new account for it

kung susundin yang suggestion mo, paano kung hindi mkpag bayad yung umutang? mabebenta po ba yung digital copy ng NSO birth certificate pra makabawi sa puhunan yung nagpautang? kakasuhan po ba? gagastos pa ng malaki pra dun kaya ok na yung valid digital collateral

Questions:

Pag account ang naging collateral kailangan ko bang kunin ang username and passoword tapos change ko then return ulit pag fully paid na?

For sign message, paano bang gawin ang pag post ng message na ganito, yung nasa box galing sa thread ni shorena.

link https://bitcointalk.org/index.php?topic=990345.0

Edit : Pag ganyan ba na msg hindi na maedit yan?

Kapag yung collateral eh account dapat talagang kunin yung password at mag signed message na kung hindi siya magbabayad eh ikaw na yung bagong may ari ng account, yung nasa box? signed message yan, pwede kang mag signed message sa btc address mu like in coinbase, blockchain and in bitcoincore, at saka hindi yan maeedit dahil maveverified yan kung peke o hindi sa coinig.

http://www.coinig.com/ (http://www.coinig.com/) andito yung sinasabi ni BALIK baka malito ka, may idea kana ba kung ano anong mga requirements yung tatanggapin mo? mas maganda nalang siguro yung parehas na style sa coins.ph na may selfie verification pati narin fb nung mag loloan at least ma cocompare mo kung dummy lang o hindi.

Wag na sefie tol, hindi ko naman mahahabol eh.

Hindi mo mahahabol, pwede mo post. Wanted. Bahala na si Batman, diba?

Yung Birth Certificate, post mo rin, bahala din si Batman. Ang problema kung hindi sa kanya yung Birth Certificate....

Anyway, business mo yan, so ...

This is a very good idea, my suggestion would be to ask for collateral like digital goods or btc talk accounts, there is a btctalk account estimator you can find in the forum plus you can also ask for other social media accounts for verification purposes just to make sure. Lastly you can copy the formats being used by other lenders in the lending section. Good luck

Mas safe siguro para sayo at para hindi ka malugi ay wag ka nalang tumanggap ng account as collateral. Nareredtag na ngayon yung mga collateral accounts. Check mo yung naging issue ni knightkon at lauda dito https://bitcointalk.org/index.php?topic=1682304.0 .