With the reopening of the economy in Zamboanga, many micro and small business owners have been given the opportunity to recover and continue their business.
Most of the MSMEs are looking for funds that can be used to continue the business that was temporarily affected or closed during the pandemic. One of them is Lizaruth Morales, a micro-business owner of Saavedra, Zamboanga.
Morales’ income weakened during the height of the enhanced community quarantine (ECQ) so he struggled to keep his shop open.
Financial assistance for MSMEs
To prevent Morales’ store from closing completely, he tried to approach BDO Network Bank, the community bank of BDO Unibank.
“BDO Network Bank (BDONB) has MSME Loans that will help entrepreneurs to recover and grow their business. They can pursue their business plans to fulfill their dreams for the family,” said Karen Cua, BDO Network Bank senior vice president and MSME head.
Currently, there are four BDO Network Bank branches and loan offices in Zamboanga, where existing business owners can borrow Php 30,000 to Php 500,000 without collateral. The extra funds can be used according to the needs of entrepreneurs, such as the purchase of additional stocks, vehicles or equipment, and other business needs.
BDO Network Bank understands the challenges faced by MSMEs and that is why the bank has made the payment schemes affordable. The borrower can choose easy installment payment terms from 12 months to 24 months.
Morales is very grateful that BDO Network Bank became his partner. With the help of the MSME Loan, he had extra capital to keep his loading station open.
For those who want to know how to apply for a Livelihood Loan, just visit the BDO Network Bank website (https://www.bdonetworkbank.com.ph/), go to the nearest BDO Network Bank branch/loan office in your area, or send a private message on the official BDO Network Bank facebook page. (https://www.facebook.com/BDONetworkBankPH).
