BuildHub PH Teams Up with BPI to Unlock ₱30-M Credit Line for Construction Ventures

In collaboration with the Bank of the Philippine Islands (BPI), BuildHub PH, a B2B online marketplace that offers a centralized system for the construction sector, is now able to provide construction companies with up to ₱30 million in credit line choices that don’t require collateral.   BPI’s Ayala Triangle Gardens office unveiled the project on September 10, 2024, with the aim of assisting builders and hardware stores nationwide by expanding the financing options available through BPI’s Ka-Negosyo Credit Line (KCL).

As part of this relationship, BuildHub PH and BPI signed a Platform Financing Partner Memorandum of Agreement (MOA), which was a significant step forward in their efforts to provide creative financing solutions to the construction industry. KCL, which provides pre-assessed BuildCredit users with active accounts on the site for at least 12 months with the chance to acquire up to Php 30 million credit line with a collateral-free alternative, further solidifies the cooperation. This program allows hardware merchants to finance their inventory and grow their business while also giving contractors the critical financial help they need to finish their projects. Customers may simply view their account, pay bills, transfer funds, and access their ATM with KCL using BPI Online, BPI BizLink, BPI mobile app, and BPI debit card. To apply for the loans, users just need to provide the bare minimum of paperwork, like a valid ID and DTI registration.

In addition, BuildCredit helps small and medium-sized construction companies achieve stability and expansion by providing attractive lending rates ranging from 1% to 3% for durations ranging from 30 to 60 days. We anticipate that the partnership will benefit SMEs in the construction industry by facilitating financing access, spurring innovation, and fostering company growth.

Dominique Ocliasa, head of BPI Business Banking, underlined the value of helping SMEs in the construction industry: “At BPI, we are committed to empowering SMEs across all sectors, including small businesses in the construction industry.” BuildHub PH and our commitment to offering creative financing solutions that drive growth are complementary to one another. By working together, we make it simple and convenient for contractors, hardware stores, and businesses to obtain high-quality building materials. This collaboration demonstrates our commitment to assisting SMEs in their digital transformation, enabling them to more confidently and effectively develop and accomplish their business objectives in a market that is changing quickly.”

Distinguished guests from BuildHub PH and BPI were present at the signing event. Mary Jhoanna Ramos, Head of BPI Business Banking Channel Management, and Joseph W. Orillo, Head of BPI Business Banking Non-Branch Channel Management, were BPI’s lead executives. The BuildHub PH team consisted of Co-CEOs Richard Lim and Andre Bernardo, along with CTO Mark Peűafiel, COO Duane Young, Chief Business Officer Marika Laciste, and CCO Tim Syquiatco.

We are able to fill a significant void in the construction sector by combining BuildHub’s tech-driven solutions with BPI’s financial experience to provide rapid and flexible finance access. Andre Bernardo, Co-CEO of BuildHub PH, stated, “This partnership enables businesses to move faster and smarter, unlocking new opportunities for growth and efficiency for contractors and hardware stores.”

Announcing, “Our partnership with BPI opens up significant capital for our users without the traditional barriers, like collateral, that often hinder growth,” BuildHub PH co-CEO Richard Lim Jr. stressed the significance of the partnership. This program will support company growth and raise the Philippines’ construction industry’s general level of competitiveness.

Additionally, BPI provided assistance to BuildHub PH while the latter was present at the Philippine Construction (PhilCon) Mindanao Expo on September 5–7, 2024. With BuildHub showcasing its most recent tech-driven solutions, such as BuildCredit and the Seller Dashboard, which simplify logistics and financial management for construction businesses, this partnership furthered its shared commitment to fostering growth and innovation in the construction industry.

BuildHub Philippines showed its dedication to using digital innovation to address industry difficulties by being the only tech-driven distributor at PhilCon Mindanao, especially in important regional markets like Davao. Our attendance at PhilCon Mindanao demonstrates our continued dedication to innovation and regional growth. BuildHub’s chief technology officer, Mark Penafiel, stated, “The solutions we provide are intended to make the challenges businesses face easier, especially in areas like Davao where demand for tech-driven advancements is growing.”

See www.buildhub.ph and https://www.bpi.com.ph/sme-banking for additional details.