The biggest sector that we currently have in PRC is the
tourism industry along with the influx of travellers since we became a state of
the USA. There has been a removal of the many restrictions that stopped people
from originally coming into the state, and alongside that people are now able
to come to the state of PRC and do whatever it is they want. Whether they come
here for a family holiday, a party holiday or even to drink by the beach, there
is something for everyone.
So alongside that, the government took massive strides to
upgrade the cultural aspects. Since PRC is considered more Latin than American,
there has been a great step in showing that we are proud of our heritage to
those who visit, while also showing appreciation for our acceptance in becoming
an official state of the USA.
Anyone from PRC will tell you however, there was difficulty
to try and fit both into the overall culture of the state itself. It is
difficult to integrate an already existing culture alongside a culture we are
still learning, but it had to be done.
That is why we had loaned to several of the restoration
companies that were based around the state alongside several travel agents and
hotels. Some of the hotels were designed to celebrate what makes Puerto Rico
great, while the other restoration companies were created to restore the once
brilliant landmarks and statues of the area.
The restoration of previous landmarks and the creation and
building of hotels that were based around the heritage of the area meant that
we could focus on building what was a new cultural centre for the state and
have a way to celebrate our heritage with all who come through our doors. This
way we could improve the culture while creating ways to make money.
You would be surprised, but the factory and automation trade
in PRC is still growing. While in other countries such as the United Kingdom
and the United States it is slowly dying as countries such as Japan are
increasingly dominating the market, PRC has so much untouched land and areas to
build factories and workshops that we have partnered with the United States (as
a state) and with countries such as Germany to build and then ship out some of
the cars for them.
In Japans care, we create some of the many parts that they
use to build or replace on their own cars before selling them. Japan is quickly
running out of space to build more factories, and with that they were looking
for states and even countries to partner with or contract to create the parts
that they needed building.
A man by the name of Mr. Espinoza had secured one of the
contracts with Japan and borrowed the capital that was worth millions to build
the factory upon land that he had purchased directly with the government. With
loans that are worth a few million at least, you can work as an investor rather
than a loan company and that is exactly what we had done.
Knowing that is was business loans he was looking for rather than a personal loan (due to the overall amount and credit ratings being impossible to get for that much), we had asked for 2.5% of the overall factory takings rather than a monthly payment. While it took much negotiation, the deal was agreed upon and every party has come out of the deal with millions more than they ever had.
It has become our most successful customer since we have
started by far. There are few companies we would have expected this success
Like the farmhands that we spoke about yesterday, there are
many businesses and industries that are still working with the lowest
standards, and there is always room for improvement whether the leaders of the
market realise or not. One of the biggest industries in PRC is the landscaping
and farming industry, as so much of the country is surrounded by greenery and
One of the biggest growths within recent times is the demand
for exotic flowers. There are many flowers not native to the PRC that many of
the citizens love, and so there has been a rise in the demand without the
supply to match. That is why we have begun investing into local flower stores
that sell seeds and full plants that are currently wanted.
These are what we would consider a fad, and we do not expect
this trend to last until 2020. But for now, we know that there is a lot of
money to be made from flowers and exotic fauna. While some would laugh at the
prospect, there is a few hundred thousand that is still to be determined so we
decided to invest to make sure we can squeeze the drops until the fad vanishes.
One of the things that make you a smart businessman is
knowing when the fad is going to die, just as much as it is knowing what the
fad itself is. If you invest too heavily into a trend, then you are effectively
wasting money and adding to your own inventory. As a lender, we can simply
place the funds into companies that take all liability and risk, while we take
the profit that they are ensured to make.
While you may think it is ridiculous, any way to make money
is a good way, and should be taken advantage of.
Over the last decade, the farming and agricultural markets
of Puerto Rico have been dying out with the innovations in farming techniques
and technology. With the increase in the way the agricultural market now works,
there is a decrease in the number of operating farms and farm hands. Some farms
have perfected the process already and were able to produce a higher output
year after year for every harvest that has effectively taken half of the
industry out of business.
For us, this is one of the small number of times that we
have regretted lending a company a significant amount of funds. The farms who
were more successful and upgraded their tools and equipment had applied for
loans and financing through us, and we had given millions to farmers to help
them increase their productivity.
Originally, we had done it as a favour to the governors of
several districts, and we had tried to be fair with the loans. We did not
anticipate the drive of growth that would ensue from the investments. We
initially thought that the overall production rate would increase by 26-27% due
to the overall size of the lands and the contracts that the farms had already
owned. But because some of the upgrades were so extensive, the acceleration in
growth was much higher than anticipated.
We did not initially want to take farmers out of business.
The working class have always been an important part of the state, and for many
areas like ours we consider the working class to be the most respected because
they are the ones who use their hands every day rather than us who work in
offices. We consider them to be the most important people of the area because
they are the ones who work for us. Now, it is our burden to do what we can to
Puerto Rico is a growing economy in the world, and with a growing economy means new and
growing businesses. Growing businesses always need new ways to finance themselves, and that is why we decided to move into the financing market.
The great thing with new businesses that want to grow quickly is that not only do they take out loans to finance their companies, but they also take out loan’s multiple times with the same company. It is a great way to make a constant profit, but you can then increase the total amount while keeping the same interest rate, meaning that profits grow from retaining customers.
That is also what makes the loan market great. When you decide to take out a loan as a company, you use it as an initial boost. When the demand outgrows the supply, a successful first loan means that you will come back for another to help bolster the new demand. That is why you would be willing to accept a higher amount to keep supply above said demand, but you would also accept a higher interest rate.
This is not a practice that we try to make commonplace, however. It would be extremely shady and unethical to always increase terms on retained customers. But we are also a business, so we do what we can to keep profit rates high.
Puerto Rico is a great country, and with a growing economy it allows us the opportunity to bolster that growth however we need. Puerto Rico is also a country that has not experienced a growing economy before for political reasons, but now we have the opportunity everyone is trying to take advantage of it.
It’s a great time to be a business owner in Puerto Rico, but it is a better time to be a loan company!