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BPI launches new credit products adapted to small and medium-sized enterprises

The BANK of the Philippine Islands (BPI) has launched new loan products and programs aimed at small and medium-sized enterprises (SMEs), it announced in a statement on Tuesday.

The new products are Ka-Negosyo line of credit, Ka-Negosyo loan, Ka-Negosyo SME loan and property acquisition loan.

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

“With BPI Business Banking’s business solutions and knowledge resources for SMEs, BPI continues to reinvent itself to deliver customer experiences designed to meet their current realities, stay relevant and deliver real value to its key stakeholders. said Ms. Ocliasa. “With resilience, agility and foresight, BPI continues its rich heritage of banking excellence and innovation by reinventing banking for a more inclusive and better Philippines.”

The Ka-Negosyo line of credit can be used at any time via a backup checkbook for recurring business expenses such as raw material and finished product inventory, employee salaries, utilities, repair and maintenance equipment and sales or distribution costs.

On the other hand, Ka-Negosyo Ready loan is for SMEs with seasonal working capital needs, such as supplies and inventory for Christmas and holidays, harvest seasons or peak business seasons, as it gives the business owner flexibility in cash flow management. Its shorter repayment period is designed for cyclical financing needs.

At the same time, the Ka-Negosyo SME loan is offered to SMEs in need of capital to expand their product lines and purchase equipment, among others. Payments are made on a monthly basis and can be stretched over longer terms. There is an option to take out the loan with or without collateral, BPI said.

Similarly, the Property Acquisition Loan is for SME expansion, but for asset purchases and construction. The payment term can also be spread over the long term and as the asset generates more profits for the company.

The processing fee for SMEs wishing to benefit from the Ka-Negosyo credit line and the property acquisition loan will be waived during the upcoming BPI Ka-Negosyo festival from September 15 to October 15. DGC Robles

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