BDO Network Bank, all out support to small business owners

TOP STORY – Arlene Gener, a former Overseas Filipino (OF) in Dubai, decided to return home to look after her children. She used her hard-earned savings as capital to start a rice retailing business—but the COVID-19 pandemic affected her monthly sales.

However, through the additional funding from BDO Network Bank Kabuhayan Loan, Gener was able to keep her business going.

“Thank you BDO Network Bank. With your help, I was able to buy additional stocks. I am happy that my store is filled with sacks of rice,” Gener said.

Her story is a testament to BDONB’s commitment to support micro-entrepreneurs in growing their business.

“We, in BDO Network Bank, are committed to helping micro-SMEs (MSMEs) because their growth is important not only for the small business owners, but also for the communities benefitting from jobs they are creating,” said BDO Network Bank senior vice president and MSME Group Head Karen Cua.

Many MSMEs are still coping with the effects of the COVID-19 pandemic. In the latest Bangko Sentral ng Pilipinas (BSP) survey, MSMEs account for 99.5% of business enterprises where 62.4% of the country’s total employment are generated. This is makes them a critical sector in the Philippines and their continuous growth is crucial for economic recovery.

Access to additional funds

BDONB is dedicated to providing MSMEs and the beneficiaries of OFs with businesses access to additional funds. The MSME Loan or Kabuhayan Loan was designed to assist small business owners in need of extra funding to increase their inventory of stocks, purchase business equipment and assets, and pursue plan of expansion.

Through its simple and fast application process, micro-entrepreneurs can borrow a loan amount ranging from P30,000.00 up to P1M.

The affordable monthly installment terms made the loan payment easy for Gener. In addition, the marketing and financial management tips on BDONB’s Official Facebook page was also helpful in managing her business.

Providing continuous service

According to Cua, BDONB branches remained open so clients can get continuous service amid the pandemic. Even in areas where strict quarantine measures are implemented, Account officers met their clients halfway or visited them in their store locations.

BDONB intends to help MSMEs in finding ways to adjust and keep their business running during these trying times.

“Filipino entrepreneurs are good models of strength, perseverance, and bravery. They are determined to sustain their business to support their families and communities,” Cua added.

For more information about the products and services of BDONB, visit its website here or its official Facebook page here.