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Sunday, March 3, 2024

Security Bank offers innovative loans to MSMEs

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Security Bank is giving solid footing to micro and small entrepreneurs to jumpstart their businesses efficiently, seamlessly, and hassle-free through the Business Mortgage Loan (BML).

Micro-enerpreneur Luiza Navarez owner of FlowerzByl, is one of the many small business owners that Security Bank has assisted through BML program. FlowerzbyL, a curated gift shop studio that markets bespoke gift boxes for product launches, corporate giveaways, or special events, leveraged BML to for its business growth.

She finds it intimidating to approach a private bank with a humble curer account saving account (CASA), of which funds are being used as rolling capital for the business, until a Security Bank account officer briefed a run thorough of the latest financing tool for small businesses.

“It was at Security Bank that I felt I would be more taken care of. On top of being hands on, there are readily available loan officers whom I can call anytime, whenever I have concerns and questions about the process and the documents. I was apprised of what was happening every step of the way. I feel like I was treated like a VIP. All thanks to Security Bank—their promise of championing MSMEs is truly more than lip service; they really do deliver, they really champion MSMEs,” she said.

Security Bank recently established its Business Banking Segment (BBS) to specifically serve micro, small, and medium enterprises (MSMEs). BBS offers relevant products and services for MSMEs—BML is one of two key loan products and it allows clients to loan up to 80 percent of the appraised value of the collateral. Clients can loan up to P30 million and pay up to 20 years in monthly installments.

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BBS also offers Business Plus, an affordable checking account that comes with free access to the Bank’s award-winning cash management platform, DigiBanker. There are also loan products that fuel business growth and business insurance through the Bank’s partnership with FWD Life.

“Through our BBS, our MSME customers can enjoy a BetterBanking eXperience. We understand that running a successful business requires having a solid financial foundation and a dependable partner who not only listens to the specific needs of small businesses, but also commits to providing comprehensive solutions that fit their requirements. BBS offers business owners services such as loans to boost growth, efficiency through cash management, the right insurance products, convenience through digital channels, and focused support that will change how they bank,” said Security Bank president and CEO Sanjiv Vohra.

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