BDONB’s Kabuhayan Loan: Empowering MSMEs, OFWs, and Their Families Towards Success

BDO Network Bank (BDONB) held on June 4 a talk show about financial management, sustainable business opportunities, and the Kabuhayan Loan. The Go Negosyo talk show, called “Kayang-Kaya Kabayan,” was hosted by Dubai-based SME advocate Josie Conlu.

Kayang-Kaya Kabayan

Kayang-Kaya Kabayan aims to educate local MSMEs, as well as OFWs and their beneficiaries about the possibilities that await those who know what to do and who to ask support from.

During the show, Josie talked about the financial challenges and struggles Overseas Filipino Workers face abroad. She also talked about the opportunities that they can look into after the pandemic.

Registered financial planner and advocate for Life & Personal Finance Randell Tiongson was also present during the talk show. He gave tips on how to prepare and adapt when it comes to managing income and saving for emergency funds. These include changing to essential businesses, using social media and online channels, and increasing stocks. Also discussed during the talk show was the important role of MSMEs in the growth of the local and national economies.

Help for MSMEs and OFWs

“The country’s development depends on the growth of Micro, Small, and Medium Enterprises. When MSMEs grow, business owners and their families will enjoy a better future,” BDONB Senior Vice President and MSME Group Head Karen Cua said.

Additionally, Cua added that MSMEs run the economy of communities. They provide income to many and they also create products and services that are important to our daily life.

Based on data from the Bangko Sentral ng Pilipinas, MSMEs make up a critical sector in the Philippine economy. In fact, they account for 99.5% of business enterprises, 62.4% of total employment, and 35.7% of additional gross value. They also serve as partners and suppliers to large enterprises.

And this is why BDONB continues to help these sectors get the needed support to make their operations and processes efficient and active, especially during these times.

Kabuhayan Loan by BDONB

As the trusted partner of MSMEs in business growth, BDONB is offering the Kabuhayan Loan. This loan is designed to give MSMEs access to additional capital and investment. This way, they can build up their stocks, expand their stores, and purchase other business assets like delivery trucks and other equipment.

The Kabuhayan Loan offers loan proceeds ranging from P30,000 to as high as P1,000,000. The loan does not need any collateral. In addition, borrowers can choose installment options from 12 up to 24 months. This will be based on their capacity to pay. Moreover, the loan comes with Credit Life Insurance which protects the family from financial burden.

Former OFW Ernesto Abad, an electrician for four years in Saudi Arabia, shared his story during the talk show. He shared how BDONB was able to help his family survive the pandemic and how the Kabuhayan Loan helped their business bounce back.

“Due to the lockdown, monthly remittances from my wife were halted. That’s why I availed of the BDO [Network Bank] Kabuhayan Loan so that I can sustain my business despite the pandemic,” he stated.

How to Get a Kabuhayan Loan

The BDONB Kabuhayan Loan is available at any BDONB branch. To qualify for a loan, the borrower must have an existing business for at least three years and be able to have weekly sales of at least P15,000.

Interested applicants need to submit a valid ID, a business permit, and proof of residence. They may also apply online via www.bdonetworkbank.com.ph.

In addition, thirty (30) lucky applicants from May 17 to July 16, 2021, will each win P10,000 worth of grocery goods or appliances. To know more about the promo, send a direct message to the BDO Network Bank PH Facebook page or visit www.bdonetworkbank.com.ph/kabuhayan-loan.