Updated: December 4, 2010
You’ve probably already heard the news that Mang Inansal was bought by Jollibee for P3 billion – not bad for a food business venture that started with only P800,000 capital back in 2003.
When I asked my friends several weeks ago on what they thought about this news, most of them said that while they admire founder Mr. Edgar Injap Sia for his success, they could only but dream of being able to make it that big simply because they don’t have that much money to start a business like Mang Inasal.
While it’s true that you need capital to start a business, I’ve always believed that the lack of capital should not be a hindrance to starting one.
In fact, in my Step by Step Guide To Starting a Business, concerns on the needed business capital comes much later at Step 10. And if you read further, at Step 11 – you’ll see that there are actually a lot of ways to get your seed money.
Furthermore, as mentioned in the article, 10 Ways to Raise Capital for Your Business, applying for a business loan from a bank is always a viable option for entrepreneurs to get started.
However, while most banks prefer to lend out only to those who are applying for business expansion, some like BPI Family Bank also caters to individuals who need franchise financing. This means getting a franchise business is actually a good reason to apply for a bank business loan.
So whether you want to turn your sari-sari store into a mini-grocery, or you want to buy an Ice Scramble franchise (which seems to be the trend nowadays) – a bank business loan is one of the best options you have to get the money you need.
In this vein, I’d also like to inform everyone that currently, BPI Family Savings Banks is offering a Ka-Negosyo Real Thrills Promo.
This is an opportunity for micro and small business entrepreneurs to instantly get electronic and appliance freebies if they get approved for a business loan through BPI Family Bank’s Ka-Negosyo Business Loans.
|Loan Amount||Gift Item|
|P1,000,000 – below P2,000,000||Samsung 7 cu.ft. Refrigerator|
|P2,000,000 – P5,000,000||ACER Emachines Netbook 11.6″ inches|
|Above P5,000,000||LG 32″ LCD TV with DVD player|
A refrigerator is an essential if you’re entering the food service industry, while a netbook can come very handy in managing your business. Also, the LCD TV and DVD player can certainly keep your resto-bar patrons entertained; or if none of these ideas appeal to you – you can always sell them for business funds.
In any case, if you do want to avail of this promo, then you have to get at least a 3-year term and your application must be received by BPI Family Savings Bank on or before December 15, 2010 and booked by December 31, 2010.
To learn more about BPI Family Ka-Negosyo Business Loans and inquire about this promo, please visit www.kanegosyo.com.ph.
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Author’s Note: This is a sponsored post.