Published May 26, 2021, 4:14 PM
In a bid to entice more borrowers from the agriculture sector, Bank of the Philippines (BPI) has opened a loan program to small and medium enterprises (SME) with no collateral and fewer documentary requirements.
BPI Business Banking Head Eric Luchangco said in a statement that the Ayala-led bank is looking to increase its presence in the area of agricultural enterprises, in recognition of agripreneurs as essential drivers to economic resilience and recovery.
“To reduce the hurdles of agripreneurs and to remain relevant to the Philippine economy, we had to increase our presence in this base,” said Luchangco.