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. This 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.

Additionally, 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.

BPI Business Banking Head Dominique Ocliasa emphasized the importance of supporting SMEs in construction: "At BPI, we are committed to empowering SMEs across all sectors, including small businesses in construction. Our partnership with BuildHub PH is aligned with our dedication to 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."

Key representatives from both BuildHub PH and BPI attended the signing ceremony. BPI’s team was led by Mary Jhoanna Ramos, BPI Business Banking Channel Management Head; and Joseph W. Orillo, BPI Business Banking Non-Branch Channel Management Head, while BuildHub PH was represented by Co-CEOs Richard Lim and Andre Bernardo with Chief Business Officer Marika Laciste, COO Duane Young, CCO Tim Syquiatco, and CTO Mark Peńafiel.

“By merging BPI’s financial expertise with BuildHub’s tech-driven solutions, we’re able to address a critical gap in the construction industry—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," said Andre Bernardo, Co-CEO of BuildHub PH.

Richard Lim Jr., Co-CEO of BuildHub PH, emphasized the importance of the collaboration, stating, “Our partnership with BPI opens up significant capital for our users without the traditional barriers, like collateral, that often hinder growth. This initiative will not only fuel business expansion but also enhance the overall competitiveness of the construction industry in the Philippines.”

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. This collaboration reinforced the partnership’s shared commitment to driving growth and innovation in the construction industry, with BuildHub showcasing its latest tech-driven solutions, including BuildCredit and the Seller Dashboard, which streamline logistics and financial management for construction businesses.

As the sole tech-driven distributor at the PhilCon Mindanao, BuildHub PH demonstrated its commitment to addressing industry challenges through digital innovation, particularly in key regional markets like Davao. "Our presence at PhilCon Mindanao is part of our ongoing commitment to innovation and regional expansion. The solutions we offer are designed to simplify the challenges businesses face, particularly in regions like Davao, where demand for tech-driven advancements is growing," said Mark Penafiel, BuildHub's Chief Technology Officer.

For more information, visit www.buildhub.ph and https://www.bpi.com.ph/sme-banking.

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