BlendPH Now Offers Franchise Loan for OFWs, Govt Employees
Are you a government employee or Overseas Filipino worker (OFW) seeking to run your own small franchise venture? The good news is, OFWs and government employees can now get certified for a franchise loan through reputable online lender Blend.ph. An OFW loan online or through a peer-to-peer lending platform offers distinct advantages.
Compared to local employees, OFWs do not readily have as many lending firms to choose from, though that does not correlate with lack of good options for Pinoys working abroad. OFWs can take time to compare the different OFW loan options with their specific needs in mind. Making an OFW loan online possible is aligned with P2P platform BlendPH’s main thrust of creating financial inclusion for more Filipinos.
In the past, private sector employees, as well as small entrepreneurs residing and working in the Philippines, were those who typically got qualified for franchise loans. An OFW loan Philippines-based returning workers can avail while waiting for their next deployment or in response to crucial needs of their families can be a huge help for these modern-day `heroes.’
OFW heroes may possibly get assistance from the Department of Labor attached agency, Overseas Workers Welfare Administration (OWWA) in the form of an OWWA loan or livelihood projects or programs for education. There is also the HEROES loan program that has no interest and no collateral is required. The takeoff point is an SB Corporation loan application form.
Given the pandemic, which has affected many OFWs, prompting a lot of them to return to their homeland for good, these forms of help are helpful. There are, however, numerous requirements when trying to secure an OFW loan. Apart from the valid identification cards, the POEA overseas employment certificate, plane ticket & flight details, documentary proofs for residency, billing, and remittance (and for seafarers, the latest crew contract) may be required. The process of availing of a loan tends to be more complicated than that which regular applicants in the Philippines go through.
Credit assistance may be facilitated by OWWA-bank tie-ups, like Landbank’s OFW Reintegration Program. OFWs need to take the time to know the steps for streamlining the loan application process, whether they are opting for an OFW bank loan or OWWA loan designed to help a returning Filipino worker run his own business as an alternative to overseas employment.
The BlendPH Advantage
An OFW loan online, though a P2P platform like BlendPH, is a good alternative. The Blend.ph funding platform has lent assistance to lots of small franchise business operators over the years. Now, OFWs who have toiled abroad and are bent on operating their franchise venture can now look forward to having their loan applications processed for as long as they have a spouse or relative who is a business owner or is a regular employee in the country. Government employees, likewise, may now get qualified for business loans.
For enterprising people setting out to run their own business via the franchising route, or seeking to expand, a significant upfront investment is normally required. Today, there are affordable franchise options that determined and committed Pinoys can take advantage of.
BlendPH’s move to widen its scope by now making franchise loan available to OFWs and government employees has sparked interest, especially since most food and service-oriented franchisors do have former OFWs-turned entrepreneurs among their franchisees. Examples are Lucky Cup Beverage Trading, the company behind fast-selling affordable franchises like Ikigai milktea; Bacalogan Tambayan, which offers Pinoy silog meals and other tasty food; and Monster Wings PH, which offers flavored chicken wings food cart franchise opportunity.
Monster Wings PH franchisee and former OFW, Ester Ruth Gellor, was among the franchisees who applied for a BlendPH loan to expand her business. From one standalone cart, she expanded her business to three Monster Wings stores located in major malls — Acienda Designer Outlet in Silang, Cavite; Ayala Malls Serin; and SM City Dasmarinas.
Addressing many people’s concerns about starting a small franchise venture during the pandemic, Ms. Gellor said, “You just have to remain determined, optimistic… Pandemic or not, this is the right and perfect time to open.” She also cited that safety protocols are implemented at the stores.
Making a Dream Business Take Off
Realizing one’s dream to start a small business like a franchise venture is truly something many Pinoys aspire for. The freedom and potential to generate high income stream make running a business a better fitting career path for determined people. Operating a small franchise business is not for everyone, though. It requires hard work, focus, and grit.
A franchise operator needs to be wary of the pitfalls or traps, and learn tactics early on, to start and grow the business. Franchise operators need to be able to provide genuine value to their target consumers. Beyond that, they should also be able to adapt to changing circumstances, or to pivot. During the pandemic, a number of small entrepreneurs in the Philippines exhibited resilience and sustained their momentum. PICKupSTICKS is among these small franchise businesses. Joms Haboc said that the company utilized e-commerce, and before long, operations — from ordering to delivery – became seamless. Quality control and good customer service are crucial, too.
The BlendPH franchise loan is suitable for franchisees/franchisors in need of extra working capital. Fast approval is possible with the help of BlendPH funding partners. For further details on franchise loan, visit the Blend.ph platform. Check out BlendPH’s franchise partners and choose your preferred brand to start your franchise business journey without cash on hand.
For franchise partners, see https://bit.ly/3wxKKyv.
Apply now at https://bit.ly/2XWUT8s.
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