OC-Craft: How to Apply for BanKo NegosyoKo Loan?

BPI Direct BanKO, Inc., is a Savings Bank and a subsidiary of the Bank of the Philippine Islands who focused on delivering financial solutions like easy and affordable loans to self-employed micro entrepreneurs (SEMEs). Last October 22, 2019 BanKo conducted Palengke Caravan at Bankeronhan Market, Davao City where they reached out and treat more self-employed, micro-entrepreneurs (SEMEs) with a day of pampering like free grooming services followed by financial training seminar on “How to live a financially-resilient life” lead by Rod Mabiasen, BanKo Enterprise Loans and Branch Network Head.

Fun program and games for SEME's partners.

Free hair cut for BanKo SEME's partner.

“Our SEME partners are some of the hardest working people we’ve met, so we treated them to a morning of mani-pedis a haircuts to make them feel good and ready for the week. We also held a financial resiliency training class because it’s not enough to just make a good living. We have to learn how to save and make our money work for us over the long term. We need to lose the get-rich-quick and one-day-millionaire mentalities and understand the value of financial planning and discipline,” said Mabiasen.

BanKo Enterprise Loans and Branch Network Head Rod Mabiasen leads the Financial Resiliency Empowerment Education (FREE) Seminar for the BanKo clients and other vendors and entrepreneurs at Davao City’s Bangkerohan Market.

“The Philippines is still a developing country, with 75% of its adult population remaining unbanked. Despite being able to run a profitable business, many of our SEMEs could not obtain standard bank loans because they lack awareness or proper documentation,” said Mabiasen.

To address this, BanKo has tailored its products and services to meet the needs and capabilities of FilipinoSEMEs, by easing documentary and deposit requirements for opening an account and providing specialized financial advisers to help customers navigate the loan application process.

BanKo SEME customers typically apply for NegosyoKo loans, which range from Php 25,000 to Php 300,000, with low interest rate of 2-2.3% per month. BanKo has also streamlined its processing so that eligible customers can have their loans released within three to five banking days upon submission of complete requirements, and channel the funds to growing their business. Here are the list of requirement for your reference.

List of Requirements for BanKo NegosyoKo Loan Application

Borrower:

1 Valid ID (with photo, signature, and not expired)

2 pcs. 1x1 ID Picture (latest)

Brgy. Clearance (residence)

Latest Electric Bill (residence)

Business Permit (Mayo’s permit, Barangay Business Permit, DTI)

Proof of rent (if rented)

Business Picture (with the borrower on the picture)

Co-Borrower:

1 Valid ID (with photo, signature, and not expired)

2 pcs. 1x1 ID Picture (latest)

Proof of income (if Co-Borrower is not the spouse)

If Employed: Payslip

If Self-Employed: Business Permit

Send the documents to BanKo Davao Branch, Door 110 JLF Parkway Bldg. Located along Magallanes cor Tomas Claudio St. Davao City. Look for John Rymar Duran or call telephone numbers (082) 327-2620/ 298-9069 /0917-814-6487 or 0997-617-1875.

“Financial inclusion isn’t only about bank accounts anymore. It’s also about making credit available to those who need it. BanKo’s efforts have led to meaningful growth for our customers who are now able to enjoy the services they need and deserve. We hope to do the same for more SEMEs here in Davao and other parts of Mindanao,” said Mabiasen.

Since coming under the full ownership of BPI in 2016, BanKo has grown from 10 branches to 103 branches in 2017 (with P558 million in loans) and 200 in 2018 (with P3.3 billion in loans). It will end 2019 with 300 branches, serving 91,000 clients with P7 billion in loans. Davao City has nine BanKo branches and will soon have more to serve other areas.

I hope this information will help you start up and grow your business.

Palaguin na ang inyong negosyo!

Huwag mahiyang lumapit sa inyong

BanKoPare at BanKoMare!

For more inquiries you may visit www.banko.com.ph and follow Mag BanKo Na Facebook page.

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