BuildHub PH, an online marketplace focused on construction, has teamed up with the Bank of the Philippine Islands (BPI) to support construction businesses in the country.
In a statement, BuildHub PH said its partnership with the Ayala-led bank will offer contractors and hardware stores access to up to P30 million in credit lines through BPI's Ka-Negosyo Credit Line (KCL).
BuildHub PH said this initiative aims to address the challenges faced by small and medium enterprises (SMEs) in the construction sector, such as limited access to capital.
Under the partnership, BuildHub PH will provide collateral-free options, streamline the application process, offer competitive interest rates, and ensure easy access through BPI's digital channels.
Dominique Ocliasa, BPI Business Banking Head, said that the partnership aligns with BPI's commitment to empowering SMEs in the construction sector.
“Through our collaboration, we enable contractors, hardware stores, and businesses to access top-quality construction materials with ease and convenience,” Ocliasa said.
“This partnership underscores our goal to support the digital transformation of SMEs, helping them build and realize their business goals with greater confidence and efficiency in a rapidly evolving market,” the BPI official added.
Andre Bernardo, BuildPH co-chief executive officer said this partnership would allow access to timely and flexible capital.
BuildHub PH has been actively supporting the construction industry through its online marketplace, which offers a centralized platform for sourcing materials, equipment, and services.