Tag: loan

Online lending company raided by police for threatening clients

Online lending company raided by police for threatening clients

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Are you a Philippine resident who borrowed money from an online lending company and got threatened by them to push you into paying them back? Another company that lends money got raided by the police over complaints from clients who claimed they were threatened, according to a Manila Bulletin news report. The raided company was located in Pasig City.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news article. Some parts in boldface…

An online lending company in Barangay San Miguel, Pasig City was raided by operatives of the Philippine National Police – Anti-Cybercrime Group (ACG) on Tuesday, May 16, for allegedly threatening and harassing its customers who have failed to pay their loans.

The company was identified as Realm Shifters Business Process Outsourcing Services, located along Mercedes Avenue in Barangay San Miguel.

According to the Philippine Association of Loan Shark Victims Inc. (PALSVI), a non-profit organization dedicated to helping loan shark victims, the company is one of the many businesses operating online lending applications (OLA) that harass and threaten users for not paying their debts.

The PNP-ACG conducted the raid in response to the complaints made to their office from the victims of the OLA.

A warrant to search and seize computer data was served by the police to the company during the operation.

Digital forensic examinations to extract data and evidence from the computers, mobile phones, and other devices of the OLA agents are ongoing.

Other incidents of malpractice made by the company are also under further investigation by the police.

Let me end this piece by asking you readers: What is your reaction to this recent development? How many people in your local community got harassed by an online lending firm recently?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Muntinlupa City Mayor clarifies issue about P1.2 billion standby loan from Landbank

Muntinlupa City Mayor clarifies issue about P1.2 billion standby loan from Landbank

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If you are a local resident of Muntinlupa City, were you a recipient of circulating text messages about a certain loan worth over a billion Pesos that was allegedly used by City Government? Recently, Muntinlupa Mayor Jaime Fresnedi clarified the issue, according to a Manila Bulletin news report.

To put things in perspective, posted below is the excerpt from the Manila Bulletin report. Some parts in boldface…

Muntinlupa Mayor Jaime Fresnedi refuted claims by his detractors that the city government already used a P1.2 billion standby loan from Landbank of the Philippines.

In March 2021, the Muntinlupa City Council passed an ordinance authorizing Fresnedi to enter into a loan agreement with Landbank in the amount of P1.2 billion to fund various projects.

During the flag raising ceremony at the Muntinlupa City hall quadrangle on March 7, Fresnedi reiterated that the city government has not availed of the standby loan.

“The Muntinlupa City government gave us the authorization to get a loan from Landbank. As of Dec. 31, our ending balance [at Landbank] is more than P2 billion. The [Landbank] manager said we have not availed of our standby loan. This means we have not taken any [amount from the standby loan],” said Fresnedi.

Fresnedi clarified the issue after text messages circulated claiming that the city government already got the loan from Landbank.

Landbank earlier issued a certification stating that the Muntinlupa City government has not availed of the loan.

“This is to certify that per records of this office, City Government of Muntinlupa has no outstanding drawdown as of December 31, 2021,” according to a certification issued by Landbank and signed by Lani Pornuevo, head of the Loan Operations Management Department.

Fresnedi said getting a loan is not a bad thing. He said when he assumed office during his first ever term as mayor, the city government took out a loan and used it to construct the Ospital ng Muntinlupa.

“Please remember, getting a loan is not bad when it is used in the right way,” he said.

The mayor said if ever the city government avails of the standby loan from Landbank, it will be used to fund ongoing projects of the city government.

In fact, he said, Landbank has sent two letters to the Muntinlupa City government to remind it about the standby loan.

According to Fresnedi, the standby loan is a program of the national government for economic recovery. The standby loan carries an interest of four percent per year.

“But what the city government needs to pay, if ever we avail of the loan, is only two percent per annum. The other two percent will be paid by the national government,” he said.

He said this is being done to help businesses to run and to help people get jobs, which are part of the national government’s national economic recovery plan.

Let me end this piece by asking you readers: If you are a Muntinlupa City resident, what do you think about the mayor’s clarification? Were the details explained well by him? Do you personally believe that the LGU (local government unit) should always be scrutinized over any loan it takes?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

COVID-19 Crisis: Muntinlupa City releases zero-interest loan to local entrepreneurs for their recovery amid pandemic

COVID-19 Crisis: Muntinlupa City releases zero-interest loan to local entrepreneurs for their recovery amid pandemic

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In an effort to revive the stalled local economy due to the COVID-19 pandemic, the City Government of Muntinlupa provided a zero-interest loan assistance to micro-entrepreneurs and MSMEs dubbed as “Muntipreneurs”.

Mayor Jaime Fresnedi led a turn-over ceremony of loan assistance amounting to P938,000.00 to 51 Tulong Negosyo Batch 122 beneficiaries in Muntinlupa City Hall two days ago. Among the beneficiaries were two local entrepreneurs who received P100,000 each while one member received P75,000. Fresnedi vows to continue the local financing program and hopes to revive the local economy by supporting grassroot players through various programs.

Muntinlupa City Mayor Jaime Fresnedi turns over the local government’s zero-interest loan assistance amounting to P938,000.00 to Tulong Negosyo Batch 122 beneficiaries in Muntinlupa City Hall last January 27. Among the beneficiaries were two local entrepreneurs who received P100,000 each while one member received P75,000. Fresnedi hopes to revive the local economy by supporting grassroot players through various programs. (source – Muntinlupa PIO)

The City Government assists local micro-entrepreneurs through its Tulong Negosyo Program (formerly Dagdag Puhunan). Muntinlupa is the first LGU to introduce the micro-financing program.

Tulong Negosyo caters to MSMEs and provides micro-finance assistance ranging from P2,000 up to P150,000 depending on the business capital ceiling and payment record of beneficiaries. The program aims to provide additional capital for business expansion for aspiring and established business owners in Muntinlupa.

Recently, the loan repayment period was extended by three months for clients with existing loans from March to June 2020 in a bid to help them recover from losses due to the pandemic.

Tulong Negosyo program has three categories namely: Simulang Kapital (SIKAP) Pangkabuhayan with loan application amounting to P2,000 – P5,000, Asenso Loan Program amounting to P6,000 – P75,000, and Maunlad Loan Program amounting to P75,000 – P150,000.

Further, a Savings Program has been incorporated in the loan assistance to teach clients about the importance of economizing and serve as protection to the clients and the program. Entrepreneurial education through trainings and other related interventions are also conducted.

Due to the limitations in face-to-face transactions, the Tulong Negosyo has implemented Online Application services and cashless repayment system through Smart Padala and G-Cash.

To apply, visit Joint Resources Financing Program – JRF Facebook Page or click the following links: New Applications – bit.ly/TulongNegosyoNew, and Renewal – bit.ly/TulongNegosyoRenewal. The Muntinlupa Joint Resources Financing Program is located at 2F Plaza Central, Brgy. Poblacion with contact numbers 8772-3457and (0921) 888 6124.

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The above information was provided by the City Government of Muntinlupa for the purpose of public information and transparency. Some parts were edited for this website.

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Muntinlupa products, community group lauded in DOST Nat’l S&T Week

Muntinlupa products, community group lauded in DOST Nat’l S&T Week

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Muntinlupa City Mayor Jaime Fresnedi (4th from left) congratulates Muntinlupa winners in the 2019 National Science and Technology Week by DOST during the city’s flag raising ceremony last July 22. The mayor lauded Dielles Apiary and Meadery Inc. and Muntinlupa Southville 3 Homebased Producers Association Inc.  for winning Best Packaging and Labelling Innovation, Small Enterprise Technology Upgrading Program and Community Empowerment thru Science and Technology Program categories in the 2019 NSTW. Also present were: (L-R) DOST MuntiParLas Cluster Director Kim Atienza, Muntinlupa City Technical Institute Director Francisco Santella, Muntinlupa SHBPAI president Nympha Palafox and Councilor Raul Corro. (source – City Government of Muntinlupa)

The City of Muntinlupa made waves in the field of science and technology recently as Muntinlupa-based wine maker Dielles Apiary and Meadery, Inc. and Southville 3 Homebased Producers Association Inc. (SHBPAI) snagged three major awards in the recently held 2019 National Science and Technology Week (2019 NSTW) by Department of Science and Technology (DOST).

As a result, Mayor Jaime Fresnedi formally congratulated Dielles Apiary and Meadery, Inc. and SHBPAI whose officials were presented before City Government officials at the grounds of City Hall during the July 22 flag raising ceremony.

To put things in perspective, the 2019 NSTW showcased the latest innovations in technologies, products, and research that contribute to national development. During that particular showcase, Dielles Apiary and Meadery, Inc. won the Best Packaging and Labelling Innovation in the regional and national level. Further, it also represented NCR as the regional winner in the Small Enterprise Technology Upgrading Program national category.

For its part, SHBPAI emerged as the winner in the Community Empowerment thru Science and Technology or CEST Program in NCR and became the finalist in the national category.

Dielles Apiary and Meadery, Inc. and Muntinlupa SHBPAI received S&T assistance such as package development, training, laboratory and consultancy services from DOST to improve their operations and boost their productivity and competitiveness.

Dielles Apiary and Meadery, Inc. owner Luke Deogracias Macabbabad, also a beneficiary of the City Government’s zero-interest loan assistance, expressed his thanks to the City Government for its assistance to local Micro, Small, and Medium Enterprises. Also present during the same ceremony SHBPAI president Nympha Palafox and DOST MuntiParLas Cluster Director Kim Atienza.

In line with the DOST’s thrust, Muntinlupa City supports budding entrepreneurs and MSMEs to scale up their businesses through various programs, having the Tulong Negosyo zero-interest loan assistance as the flagship project which provide financial assistance from 2,000 up to 150,000 pesos depending on business capital ceiling and payment record.

The DOST and the City Government continuously work towards providing innovative solutions for the communities. DOST MuntiParLas Cluster Office is located at Muntinlupa City Technical Institue in San Guillermo St., Barangay Putatan.

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