Modes of Expression
CHAPTER I
INTRODUCTION
Geogar Credit Corporation are in the business of providing credit to the local people who are in critical need of finances but are unable to obtain credit from banks and other more established financial institutions. Those who are interested need to meet with any of the corporation’s representative to sign a document and provide necessary requirements. The document should be filled out by the applicant of his/her information. The document also include a promissory note indicates the applicant’s promise to pay the amount with interest in whatever mode of payment agreed. As assurance, customers are required to present collateral in form of land title, car registration, SSS pension passbook, ATM, check and many others. The range of the amount of money lent depends on type of collateral surrendered. The owner has also engaged in buy and sells business. The credit can also be in form of goods that the owner sells. The idea of the business according from the owner came from her mom. Since she was a kid, her mom engaged into this kind of business. Lending money to relatives or neighbors and selling anything they can sell in the market. She experienced selling dried fish, fruits and vegetables. She brought this idea when she already has her own family. Although working as an employee, pay was not enough. In order to earn extra cash, she lent money to relatives and neighbors as well as selling goods. She eventually focuses on these businesses and now has a small office in her house managing the business with her business partners who serves as collectors from time to time. Geogar Credit Corporation currently has manual system of keeping records and no system in calculating the profits and the corporation’s financial status. They only use organizers and planners to avoid missing due dates of accounts receivable. Manually calculate the amount to be paid according to the agreed payment process and writing it in the customer’s information
INTRODUCTION
Geogar Credit Corporation are in the business of providing credit to the local people who are in critical need of finances but are unable to obtain credit from banks and other more established financial institutions. Those who are interested need to meet with any of the corporation’s representative to sign a document and provide necessary requirements. The document should be filled out by the applicant of his/her information. The document also include a promissory note indicates the applicant’s promise to pay the amount with interest in whatever mode of payment agreed. As assurance, customers are required to present collateral in form of land title, car registration, SSS pension passbook, ATM, check and many others. The range of the amount of money lent depends on type of collateral surrendered. The owner has also engaged in buy and sells business. The credit can also be in form of goods that the owner sells. The idea of the business according from the owner came from her mom. Since she was a kid, her mom engaged into this kind of business. Lending money to relatives or neighbors and selling anything they can sell in the market. She experienced selling dried fish, fruits and vegetables. She brought this idea when she already has her own family. Although working as an employee, pay was not enough. In order to earn extra cash, she lent money to relatives and neighbors as well as selling goods. She eventually focuses on these businesses and now has a small office in her house managing the business with her business partners who serves as collectors from time to time. Geogar Credit Corporation currently has manual system of keeping records and no system in calculating the profits and the corporation’s financial status. They only use organizers and planners to avoid missing due dates of accounts receivable. Manually calculate the amount to be paid according to the agreed payment process and writing it in the customer’s information