Francorp, BPI Family Savings Bank team up for new franchising loan program

MANILA, Philippines - Francorp Philippines, the country’s leading franchise developer has partnered with banking giant BPI Family Savings Bank (BFSB) for the “Ka- Negosyo Program,” a new financing program for micro, small and medium enterprises (MSMEs) that plan to franchise their business concepts.

Francorp and BFSB signed the contract that formalized their partnership last week.

BFSB, which will be a co-presentor of the Philippine Franchise Association (PFA) in staging the Franchise Asia Philippines 2012 (FAP2012) Expo slated July 25 to 29 at the SMX Convention Center from July 25 to 29, will implement the program in partnership with Francorp Philippines, an affiliate of Francorp International, the world’s leading franchise consultant that has 22 offices worldwide.

Samie Lim, Francorp chairman, said under the program BFSB will offer financing to emerging concepts that have strong and excellent chances of succeeding in the franchising industry.

“BPI, in the previous franchise shows of PFA, noticed that there are so many emerging concepts that do not have enough money to pay consultants for franchise development. So it decided to partner with Francorp, the biggest franchise developer in the country, to give these concepts the opportunity to pursue their franchise development,” Lim emphasized.

Under the deal, Francorp will screen which business concepts are “franchisable” and then make the recommendation to BFSB.

The bank will then finance the payment for the services of Francorp Entrepreneurs who will avail of the program can pay the loan for up to 24 months, with a grace period of probably six months.

Lim said Francorp usually completes the development of the franchise program of its clients, including the operations manual, business plan, legal documents, and even marketing scheme, within that six-month period.

Francorp, he stressed, is offering a “Basic Franchise Development Program” for less than P1 million.

“BPI Family Savings Bank will be co-presenting the Franchise Show and business concept owners who believe they can get into franchising will be welcome to approach Francorp or BPI by then,” Lim added.

Francorp will be holding a series of “How to Franchise Your Business Seminars” during Franchise Asia Philippines 2012 (FAP 2012), the biggest franchise show in Asia, which has a 4-in1 event that includes the International Franchise Conference (July 25 and 26), the International Franchise Expo (July 27–29), the Educational Franchise Seminars, and the Certified Franchise Executive (CFE) Program (July 23 and 24) on July 27-29 at the SMX Convention Center.

For inquiries, contact 638-3149/50, or email [email protected] or visit www.francorp.com.ph for a FREE Franchisability Analysis.