BPI Family to add 20 franchisors to Ka-Negosyo program
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MANILA, Philippines - BPI Family Savings Bank will add 20 franchisors to a list of franchise brands included in a loan program for budding entrepreneurs.
BPI Family already has 30 franchise brands in its Ka-Negosyo program, which is aimed at growing the thrift lender's loan portfolio for micro, small and medium enterprises (MSMEs).
“Our target is to have 50 franchises this year so that means 20 more,” Jose Teodoro Limcauco, BPI Family Bank president, said.
He said the bank aims to accredit franchise brands that already made a name for themselves in the Visayas and Mindanao.
"We’re trying to get franchisors not from Metro Manila but from the provinces because we’ve seen the very good potential of franchisors in Davao province, for instance,” he said.
“We want them to move their concept to Manila or the Luzon area. Most of the accredited entities are from Manila,” he added.
Accreditation would take six to eight weeks, during which BPI Family looks into the franchisor's business model, its financials, among others.
Under its Ka-Negosyo program, BPI Family will lend out up to 70 percent of the cost of the franchise to an aspiring franchisee. For existing clients of the BPI group, collateral-free loans are available.