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July 13, 2024

BPI strengthens foothold on SME lending

BPI introduced a new loan product specifically for negosyantes.

Bank of the Philippine Islands (BPI), led by Bankero Cezar P. Consing, unveiled a new loan program aimed at serving small and medium enterprises (SME) to help them steer their businesses amidst challenges and growing opportunities.
With SMEs eyed as an important driver of economic growth, BPI said that they need tobe protected from vulnerability against challenges, and economic downturns. Hence, the lending program, called, Ka Negosyo Loans, will help them carry out their plans, with a lending buffer.

BPI further said that the Ka-Negosyo Credit Line (KCL) is created for variable business expenses such as the cost of raw materials and inventory, wages, and monthly utilities, among others.