The Bank of the Philippine Islands (BPI) wants to enable small and medium enterprises (SMEs) to expand their businesses with the launch of a digital loan application platform.
Ka-Negosyo On The Go features an easy-to-use product finder to guide SMEs in selecting loan that fits their needs.
“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 the Business Banking Segment at BPI. “Because Ka-Negosyo On The Go is online and accessible from anywhere, Ka-Negosyo On The Go allows us to serve more SMEs nationwide.”
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The platform features the different loan products that BPI offers including:
- Ka-Negosyo Credit Line (KCL) for flexible financing of recurring expenses, which serves as an extended wallet that they can use anytime via the BPI mobile app, debit card, or check
- Ka-Negosyo Ready Loan (KRL) for seasonal working capital requirements or purchases; the Ka-Negosyo SME Loan (KSL) for big purchases such as product expansion or new equipment that aims to make it more affordable for SMEs as they can pay monthly for a long period of time
- Ka-Negosyo SME Loan for Property that can fund the acquisition, construction, or renovation of commercial or residential property for business use. SMEs may choose to avail of these loans with or without collateral.
Debt evaluation
The platform gives SMEs time to evaluate their capacity to pay before deciding on which loan to get.
Ka-Negosyo On The Go also has an Eligibility Checker that offers a convenient tool for business owners to determine if a business loan aligns with their requirements and capabilities.
Business owners are no longer required to show to the branch for verification and approval. Everything is done on the platform.