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Credit Business Interview Questions Guide

This document contains an interview with a creditor about their business providing loans. [1] The creditor is male, lives in Solana, and has been in the credit business for many years, providing both regular and occasional loans. [2] The creditor's debtors are typically market vendors, farmers, and small businesses. Loan amounts range from 5k-100k pesos, with interest rates of 3-5% for businesses and payment in rice for farmers. [3] The creditor does not typically require collateral but assesses debtors' ability to repay by their business history and land ownership. Legal action may be taken if debtors fail to pay after multiple attempts at contact and collection.

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rudzky2011
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4 views3 pages

Credit Business Interview Questions Guide

This document contains an interview with a creditor about their business providing loans. [1] The creditor is male, lives in Solana, and has been in the credit business for many years, providing both regular and occasional loans. [2] The creditor's debtors are typically market vendors, farmers, and small businesses. Loan amounts range from 5k-100k pesos, with interest rates of 3-5% for businesses and payment in rice for farmers. [3] The creditor does not typically require collateral but assesses debtors' ability to repay by their business history and land ownership. Legal action may be taken if debtors fail to pay after multiple attempts at contact and collection.

Uploaded by

rudzky2011
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd

Name: ___________________________________

Date: ______________

INTERVIEW QUESTIONS

I. Creditors Profile Name :______________________________________ Age:_________________________________________ Address: _____________________________________ Occupation: __________________________________ Status: _______________________________________ Years in credit business/transaction: _____________________________________ Type of credit transaction: _______ regular __________ occasional

II. Credit Proper 1. How much is the amount of investment in credit business? Answer: For creditor like me, investment may vary from 100k- 500k, depending on who are your creditors. 2. Who are your debtors? Answer: My debtors are: 1. market vendors who own stalls 2. farmers 3. small businesses like internet shops, barber shops, etc. But for me, my priority debtors are farmers. That is where I am most focused.

3. How much is the minimum and maximum amount of credit that you give to your clients? How much is the interest? Answer: Still depending on the capacity of the creditor, my minimum amount is 5k or 10k, maximum is 100k. For business debtors, my interest is 3-5%. For farmers, for every 1k, they will pay me 1 cavan of dried rice. 4. Do you oblige your creditors to accomplish certain paper documents before you loan money to them? What are the requirements? Since I am like a free lance creditor, I usually require business permit and mayors permit for business debtors. For farmers, I see to it that they own and till their own lands, though I do not require collaterals, except in certain cases where the demand for money is high. 5. How do you assess your debtors capacity to pay? Answer: Though I do not require collaterals, I see to it that the business for example has been in operation for a minimum of 3 to 4 years. In cases of farmers, I only lend money at our birthplace in Solana where I know most of the people there, if they have their own lands or not. In case the famers have existing creditors, I investigate on how much they owe, who are the other creditors, and then assess if I will still allow loans or not. 6. What are your modes or terms of payment? It depends on the debtors capacity to pay. Like for me, I loan money not only for my convenience but also of my debtor, so that they can pay me when the due arise. In case of business debtors, they can choose modes of payment of weekly or monthly. For farmers, modes of payment usually attached upon harvest time.

7. How about on those creditors who failed to meet their obligations on due, what are your remedies? The most painful part of this business is when debtors fail and still fail to pay their debts amidst humane remedies employed. For me, first I talk to the debtor concern personally and ask him/her of her dues. Several talks will ensue. If my request still is unheeded, I will write letter to the debtor reminding of the dues. If despite several talks and letters still the debtor failed to pay his/her obligation that is the only time I resort to legal

remedies, like filing a civil case for collection perhaps, or estafa, depending on the severity and degree of fraud employed by debtors. 8. Did you experience having hard time collecting? Yes. Many times. We even went as far as barangay mediation but still the debtor fails to pay. In this business where money is at the forefront, you have to be stern in your decision. Prove and show to your debtor that you are willing to loan your money and at the same time that you are strict in demanding dues. Sometimes, debtor knows you only when they are in need, but when they already have the money and dues started to pile up they dont even know that you exist.

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