Focus discussion group at SBGFC

FDG at SB Corp

Last friday, I attended an FDG at the SBGFC office. About three years ago, I visited the same place but it was still SB Corp. Apparently after that they merged with the Guarantee Fund Corp so now they have a longer, harder to recall name - SBGFC :)

The FDG was requested since apparently the lending group was not familiar on how to evalute loans from ICT groups, particularly software companies.

As a lender (although I didnt really disclose this aspect to them) I did understand the sitatuation of both parties.

The IT group were confused on the procedures if not exasperated. The lender was not familar on what particular reqts to ask (besides the usual).

It seems from the discussion that many of the small IT entreps do not have Financial Statements and were not aware that what they have were assets.

When they were asked, some said they didnt have anything to put in their financial statements! Little did they realize that the programs they created are one of their major assets.

Some in the audience asked the SB officer what the reqts are and how long the process will take. The usual answer is it depends :)

I was too embarrassed to give my opinion but at one point I really had to. The same scenario sometimes happens in the bank.

I believe the consumer must know the process in evaluation, some policies such as what is the minimum income required because once aware they will know if they will pre qualify or not. Why bother then if you know its quite impossible to secure that loan. It will be a good guide so that the budding entrep will try to work for that stage where he maybe approved for that elusive loan.

That was a worthy project of Commissioner Dondi Mapa. I hope there will be more of such continuing dialogues to help the small and medium entrepreneurs.

Greenbelt chapel on a thursday

greenbelt chapel

Decided to hear mass at greenbelt after my afternoon appointment at DOTC. Much to my surprise the chapel was so full for an ordinary day (except wed). As I inched my way inside, I noticed it was Cardinal Rosales saying mass. I was wondering what special ocassion there was that day. It also seems there were dozens of other priests and bishops.

As the homily later progressed, apparently it was the installation of the new parish priest who was close to the Arzobispado. Cory Aquino was even present as well as other dignitaries.

After mass, I suddenly met Cynthia (nee Carreon) a former neighbor in Philamlife, who introducted me to herbal gold, an australian herbal supplement but thats a different story all together.

A Visit to the soon to open SM San Lazaro

sm san lazaro

Last Tuesday, Mario, Gary and I visited SM San Lazaro which will still open middle of this year. They were giving a slot to Royal Clean and 30pm that day was the scheduled time for merchant orientation.

Lisbeth and Mario were offering the shop stall to me. The place was kinda big for what we planned so I had to write a request for a smaller space. It was a good location though being at the supermarket and food court area, right beside the elevator and escalator at the lower ground level.

Hope and pray I could get some moolah though to start building a dry cleaning and laundry place. My first venture to entrepreneurship :)

PICS Feb 28 GMM

invocation

The first face to face meeting of the Phil. Internet Commerce Society (PICS) was held last Feb. 28, 2005 at the Club Cafe of Makati Sports Club. The first meeting was done virtually via web conference. The meeting sponsored by ABS-CBN Interactive represented that evening by the Wireless Business Head Paolo Pineda.

Above photo shows Vic Magdaraog, PICS Director and Treasurer leading the Invocation.


Photo below shows moi, the blogger welcoming everyone and introducing the new members who attended that evening including friends from the press. I also announced that the next GMM and election of new board will be on March 29 which is also the 11th Anniversary of the Internet in the country.

Mark later announced one of our major initiatives which is help push for the Cyber Crime Bill authored by PH-Cert as well one on Privacy with two drafts being discussed by the committee (one from UP Law and another from Pablaw.



Below is the photo of Arthur Policarpio, COO of Global Wireless Conn, our main speaker who presented Mobile Marketing and Commerce: Current Trends and Developments.




Mon Lizardo is of course our ever reliable master of ceremonies each meeting and major event. Also PICS Director and chairman of the last Annual PICS Congress, you can see him in the photo below calling on one of the evening's raffle winners, Atty. Teddy Kalaw who is shown with Norelyn Babiera, PICS Director who also gave the closing remarks.