BPI and Burket Forge Strategic Partnership to Empower SMEs with BPI SME Banking
Bank of the Philippine Islands (BPI) and Burket, the leading B2B marketplace and procurement platform in the Philippines, have announced a strategic partnership to provide financial solutions and opportunities for small and medium enterprises (SMEs) in the country
The partnership aims to help SMEs grow and expand their businesses by offering them access to BPI's Ka-Negosyo SME Loan and Ka-Negosyo Credit Line, designed to meet their capital and operational needs. BPI's Ka-Negosyo SME Loan is a term loan that can support SMEs aspiring to branch out, expand product lines, purchase new equipment, or meet other capital expenditures. The minimum loan amount is Php 300,000 and the maximum tenor is five years.
BPI's Ka-Negosyo Credit Line is a revolving credit line that can provide SMEs with stand-by funds for their recurring or unexpected expenses. The credit line can be accessed via the BPI Mobile app, BPI Debit Card, or check, with a minimum amount of Php 1 million and a maximum of Php 15 million.
Burket is a B2B marketplace and procurement platform that connects buyers and suppliers online, offering a wide range of products and services across various categories. Burket also provides a vendor management system, requests for quotes, a wholesale marketplace, and government tender opportunities for its users.
The partnership between BPI and Burket Ph is part of their shared vision to empower Filipino entrepreneurs and help them achieve financial security and wellness. By providing access to capital and market opportunities, BPI and Burket hope to contribute to the growth and development of the SME sector in the Philippines.
The partnership also aims to promote financial inclusion and digitalization among SMEs and support the government's efforts to boost economic recovery amid the COVID-19 pandemic.
"We are honored to partner with BPI, one of the most trusted and respected banks in the country. Through our platform, we hope to connect SMEs with BPI's Ka-Negosyo products, as well as with other suppliers and buyers that can help them achieve their business goals. We believe that this partnership will create more opportunities and value for the SME sector in the Philippines," said Burket COO Roy Julian.
SMEs who are interested in applying for BPI’s Ka-Negosyo products can visit www.bpi.com.ph/sme-banking for more information and requirements. They can also find the Ka-Negosyo Loan Finder tool, an Eligibility Checker tool, a Loan Application Portal (https://bit.ly/apply-kanegosyo), and other business banking solutions on the website that can help them with their loan application.
