PFA awards BPI Family Savings

MANILA, Philippines – The small and medium enterprise (SME) bank products of BPI Family Savings Bank was recognized when it received a special citation for Franchise-Friendly Bank at the 10th Franchise Excellence Awards (FEA) held recently.

The FEA is organized by the Philippine Franchise Association (PFA) in partnership with the Department of Trade and Industry, along with the cooperation of Philippine Retailers Association and the Philippine Chamber of Commerce and Industry.

The Special Citations for FEA are given to institutions and individuals who have made significant contributions to support the franchising sector of the country. In the case of BPI Family Savings Bank, the Grow Your SME Business Solutions and MSME Development Program garnered the recognition.

“The award gives appreciation to our philosophy of building up SMEs through growth-enhancing products and services,” Alfonso L. Salcedo Jr., president of BPI Family Savings Bank, said.

Grow Your SME Business Solutions program provides a comprehensive line-up of products and services that provide short-term and long-term financing for the growing entrepreneur and would-be franchisees.

A total resource package, the program includes business loans, savings and investments, and cash management services designed to meet the various needs of an entrepreneur - from franchising and expansion to construction and renovation.

The thrift bank of the Bank of the Philippine Islands also launched a Franchise Financing Program for its growing franchisee clients. At present, franchisees compose more than 15 percent of Grow Your SME business loan borrowers.

In coordination with the trade department and BPI Foundation, BPI Family Savings Bank offers the Show Me, Teach Me SME program that develops the financial literacy of micro and small entrepreneurs in major regions all over the country. The bank regularly holds SME Business Forums for its clients and depositors, focusing on SME relevant topics and issues.