BPI launches new SME loan products

MANILA, Philippines — Ayala-led Bank of the Philippine Islands (BPI) is looking at serving more small and medium enterprises (SMEs) through new loan products and programs to help the industry navigate current business challenges and embrace emerging market opportunities.

Dominique Ocliasa, head of BPI Business Banking, said in a virtual press conference that the listed bank is serving more than 100,000 clients, including borrowers and depositors.

“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,” Ocliasa said.

Ocliasa said the 171-year-old bank continues to expand its reach across the Philippines, resulting in higher market share.

Prior to the pandemic, Ocliasa said the market share of BPI was estimated at about 10 percent, but has increased to about 14 to 15 percent of the total loans and volume of customers.

According to BPI, SMEs may leverage on these Ka-Negosyo Loans, including the Ka-Negosyo Credit Line, Ka-Negosyo Ready Loan and the Ka-Negosyo SME Loan.

“With our latest BPI Business Banking offerings, we are giving them a helping hand by providing convenient and simple financing solutions, as well as relevant advice and assistance throughout their journey to help execute their ideas, overcome their problems, and strive for bigger achievements,” Ocliasa added.

The Ka-Negosyo Credit Line 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. It is like an extended wallet that allows the business to take advantage of any opportunity at any given time.

The Ka-Negosyo Ready Loan 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, while the Ka-Negosyo SME Loan help support SMEs that are aspiring to branch out, expand product lines, purchase new equipment or meet other capital expenditures.

SMEs availing of the Ka-Negosyo Credit Line or Property Acquisition Loan can enjoy waived processing fees at the upcoming BPI Ka-Negosyo Festival from Sept. 15 to Oct. 15.