BPI launches loan products for SMEs

Ayala-led Bank of the Philippine Islands (BPI) on Tuesday introduced new loan products and programs aimed at helping small and medium enterprises (SME) navigate business challenges and embrace emerging market opportunities.

“While Filipino SMEs are seen as important drivers of our country’s economic growth, they tend to be more vulnerable to market headwinds and volatility, as well as industry disruption and competition. They need support from various sectors in the ecosystem to survive and thrive,” said Dominique Ocliasa, head of BPI Business Banking, said.

In a statement, BPI said SMEs may tap its “Ka-Negosyo Loans” to help execute their business plans.

The lender said its Ka-Negosyo Credit Line (KCL) is “ideal for recurring business expenses such as raw materials and finished goods inventory, employee wages, utilities, equipment repair and maintenance, and sales or distribution costs.”

BPI said that the KCL can be accessed through a stand-by checkbook which can be used to immediately pay any on-the-spot need or emergency of the business.

Meanwhile, the Ka-Negosyo Ready Loan (KRL) is available for SMEs with seasonal working capital requirements, such as stocking up on supplies and inventory for Christmas and holidays, harvest seasons, or peak business seasons, according to BPI.

The bank said its Ka-Negosyo SME Loan (KSL) can help support SMEs who are aspiring to branch out, expand product lines, purchase new equipment, or meet other capital expenditures.

Lastly, BPI’s Property Acquisition Loan (PAL) makes it more convenient and comfortable for the business owner to invest in such an expense.

The bank said the PAL spreads the payment term over a long period of time, and as the property asset earns more profits for the business.

SMEs interested in availing of KCL or PAL will enjoy waived processing fees at the upcoming “BPI Ka-Negosyo Festival” from September 15 to October 15, 2022, the lender said. — BM, GMA News