BPI partners with fuel-saving platform PriceLOCQ to offer SMEs easier access to Ka-Negosyo Loans

The Bank of the Philippine Islands (BPI) has teamed up with PriceLOCQ, an innovative fuel savings platform by Fintech company LOCQ Inc., and SEAOIL to provide Filipino SMEs with access to Ka-Negosyo Loans, offering a unique opportunity to streamline financing and protect against fuel price hikes.

This collaboration enables SMEs within the PriceLOCQ for Business ecosystem to save significantly on fuel costs while accessing financing solutions to fuel their growth.

Through this partnership, over a thousand SMEs are already onboarded in the PriceLOCQ for Business platform and many more eligible businesses across the Philippines will be able to benefit from these financial options.

With easy access to Ka-Negosyo Loans, SMEs can now secure affordable financing to grow their operations. Additionally, PriceLOCQ for Business users can utilize these exclusive financing options to hedge against rising fuel costs by purchasing fuel at current prices, providing them with an extra layer of financial protection.

“The Ka-Negosyo Loans and financing solutions, now available for fuel purchases via PriceLOCQ, offer Filipino entrepreneurs a chance to maximize their resources and grow their businesses sustainably. This partnership is another step toward our goal of enabling a digitally empowered, financially inclusive Philippines,” said Ococ Ocliasa, Head of BPI Business Banking.

Rally Jereza, Head of BPI Agency Banking meanwhile said the partnership is a great opportunity to bring BPI Ka-Negosyo Loans to more SMEs.

“As one of the May BPI Dito partners, SEAOIL presents additional touchpoints for BPI to introduce BPI products to a broader and relevant market,” said Rally Jereza, Head of BPI Agency Banking.

With this partnership, SMEs in the PriceLOCQ for Business platform can access BPI Ka-Negosyo SME Loan with a minimum loan amount of Php 300,000 offering a one-year term with equal monthly payments, no collateral and income documents required.

To be eligible, businesses must be Filipino SME clients already onboarded in PriceLOCQ and have at least 12 months of trading relationships with SEAOIL.

To learn more about Ka-Negosyo Loans and explore how your SME can take advantage of this offer, visit https://www.bpi.com.ph/sme-banking