July 11, 2011, a lazy Monday morning to a retired dual citizen. After my cup of coffee I did some cleaning, the working table, the computer and other gadgets, washing the car then few minutes rest, followed by the regular 30- minute exercice - then another few minutes rest, but still I could no think of anything to write in my blog. After lunch I decided to go with my wife to the 'palengke' flea market inside our village, where many people walked around looking for something to buy. Yet when you get there one could not find a flea but the ever-present flies.
Honestly the place is just clean, period. My sister owns a sari-sari store 'variety store' where she sells anything under the sun. from cotton buds, rice charcoal, soy sauce, hotdogs, slippers, sandals, name it... There I sat on a wooden bench long enough to sit four persons. Then two guys whom by their looks store helpers sat with me. It was fun listening o them talk. "Pare may narinig ako sa radio kanina 'partner I heard this news from the radio this morning' said the guy seated next to me. " Hindi pala daw si Tomas Edison ang unang naka imbento ng bombilya, ' it said it is not Thomas Edison who invented the first electric bulb' explained the first guy'. "Ay sino?" 'then who'? asked the other. Bombay pala taga India" said the first guy " Kasi daw nung nag file si Tomas Edison ng application for patent sa kanyang na imbento hindi agad tinanggap kasi mi nauna na nag file pareho din isang taon na e Bombay pala ang nauna taga India ' 'Because when Thomas Edison filed his application for patent on his invention another man had already filed the same one year earlier, and he was the Bombay man from India.' narrated the first guy. "Pare e wala toyong paki dian". 'partner we do not care about that'. said the other guy. "Pare paano kaya kong wala talagang naka imbento ng bombilya siguro madilim parin tayo hanggang ngayon? 'partner what could it be if no one had really invented the first electric bulb? maybe until now we could still be in the dark Insisted the first guy. The other guy said "Ako walang problema tawag lang ako sa otol ko sa saudi pabili ng flashlight." was the solution of the other guy.
Then out of the blue the Bombay, with his turban securely tacked on his head tapped the shoulder of the other guy. "Saan si Tomas," 'where is Tomas' said the Indian man "Sandali lang sir " 'wait sir said the othe guy, " Bukas na lang daw po sya maghulog doble" 'he will pay you tomorrow double or good for two days, and the Indian man left
Talking more about the Bombay man. They are the Indian citizens who came from Bombay a western province of India that is now Mumbai a very advanced and progressive city of about 110,000 square miles. Its busy ports is facing the Arabian Sea. The Bombays (Indian nationals had been in the Philippines for a long time. In the early 20th century many of them worked as security guards "Bombay sereno" as they were then called in the busy establishments along then high class Escolta and Avenida Rizal in Manila. In the 1970s many of them walked in the streets of Manila selling umbrellas, pants and wrist watches payable in installments. After some years many of them no longer sell umbrellas but they ride on motorcycles stopping at every public market offering easy and fast loans to small and unsuspecting entrepreneurs by what is until now called called 5/6 meaning if you borrow 5,thousand pesos you have to pay him back 6,000 pesos after a week. The amount of loan they offer ranged from 5,000 to 200,000 pesos, no credit investigation, no documents to sign, only a small notebook that the lender always carry with him where the name of the borrower is listed and the amount of money loaned, then down at the bottom are the list of the amounts of the daily payments made.
The government says visit you banks not the loan shaks. Yes the banks have plenty of loanable money but the borrowers have to produce collaterals and that you have to prove that you do not need the money. The Bombay lenders are maliciously labeled as loan shaks, that when a sari-sari store is regularly visited by these Indian nationals it is almost sure its days are numbered. These Bombays helped the economy move. But they are the crux of the unsuspecting and aspiring entrepreneurs.
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