BuildHub PH, a B2B online marketplace providing a centralized system for the construction industry, teamed up with the Bank of the Philippine Islands (BPI) to offer construction businesses access to up to P30 million in credit line with collateral-free options.
Launched on Sept. 10, 2024 at BPI’s Ayala Triangle Gardens office, the initiative aims to support hardware stores and contractors nationwide by expanding financing options through BPI’s Ka-Negosyo Credit Line (KCL).
BuildHub PH signed a platform financing partner memorandum of agreement (MOA) with BPI, marking a milestone in their efforts to offer innovative financial solutions to the construction sector.
The partnership is further strengthened by KCL, which offers pre-assessed BuildCredit users with active accounts on the platform for at least 12 months, the opportunity to receive up to P30 million in credit line with a collateral-free option.
The initiative provides essential financial support to contractors for project completion and enables hardware stores to finance their inventory and expand operations.
BuildCredit also offers competitive interest rates of 1 percent to 3 percent for 30 to 60-day terms, helping small and medium-sized construction businesses achieve stability and growth.
“At BPI, we are committed to empowering SMEs across all sectors, including small businesses in construction. Our partnership with BuildHub PH is aligned with our dedication to providing innovative financial solutions that drive growth,” said BPI business banking head Dominique Ocliasa.
“Through our collaboration, we enable contractors, hardware stores, and businesses to access top-quality construction materials with ease and convenience. 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,” Ocliasa said.
