BUILDHUB PH, a B2B online marketplace providing a centralized system for the construction industry, has partnered with the Bank of the Philippine Islands (BPI) to offer construction businesses access to up to ₱30 million of credit line with collateral-free options.
Launched on September 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).
As part of this collaboration, BuildHub PH signed a Platform Financing Partner Memorandum of Agreement (MOA) with BPI, marking a significant 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 Php 30 million credit line with a collateral-free option.
In a statement, BuildHub PH said the initiative provides essential financial support to contractors for project completion and enables hardware stores to finance their inventory and expand operations.
“KCL is also available in BPI Online, BPI BizLink, BPI mobile app, and BPI debit card, allowing clients to view their account, pay bills, transfer funds, and access their ATM, among others, conveniently. Users are required to submit only minimal documentation, such as a valid ID and DTI registration, to apply for the loans,” the statement reads.
It also said that BuildCredit offers competitive interest rates of 1% to 3% for 30 to 60-day terms, helping small and medium-sized construction businesses achieve stability and growth. By easing access to capital, the collaboration is expected to empower SMEs in the construction sector, driving innovation and business expansion.
Dominique Ocliasa, BPI Business Banking head, emphasized the importance of supporting SMEs in construction across all sectors, particularly in providing innovative financial solutions that drive growth.
“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.
Andre Bernardo, BuildHub PH co-CEO also stressed that the collaboration will address a critical gap in the construction industry, particularly with access to timely and flexible capital.
“This partnership empowers businesses to move faster and smarter, allowing contractors and hardware stores to unlock new opportunities for growth and efficiency,” Bernardo said.
BPI also extended its support to BuildHub PH during the company’s participation at the Philippine Construction (PhilCon) Mindanao Expo from September 5-7, 2024.
BuildHub also showcased its latest tech-driven solutions, including BuildCredit and the Seller Dashboard, which streamline logistics and financial management for construction businesses.
Photo from BuildHub PH
