MANILA -Bank of the Philippine Islands (BPI) has launched a digital platform dubbed “Ka-Negosyo On The Go” as part of efforts to make it easier for Filipino small and medium enterprises (SMEs) to access financing.
“We are seeing increased interest among SMEs in harnessing on-demand technologies to become more agile and flexible in pursuit of their business goals,” said Dominique Ocliasa, head of BPI’s business banking segment.
Ocliasa said in a statement they launched the platform to help SMEs avail of BPI’s various Ka-Negosyo loans to scale and expand their ventures without the need to go to a BPI branch.
“Because it is online and accessible from anywhere, Ka-Negosyo On The Go allows us to serve more SMEs nationwide,” he added.
Through the platform, SMEs are able to choose the available Ka-Negosyo loans that suit their needs.
Options include the Ka-Negosyo Credit Line for flexible financing of recurring expenses; “Ka-Negosyo Ready Loan” for seasonal working capital requirements or purchases; “Ka-Negosyo SME Loan” for big purchases such as product expansion or new equipment, and “Ka-Negosyo SME Loan for Property” that can fund the acquisition, construction or renovation of commercial or residential property for business use.
According to BPI, SMEs may choose to avail of these loans with or without collateral.
After SMEs select their preferred loan product, they can evaluate the level of debt they are comfortable with and determine what would make it more manageable for them. They can use the online loan calculator to assess the ideal loan solution and ensure it fits their financial capacity. INQ
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