BanKo offers term extension, loan rehab programs to help micro-entrepreneurs amid pandemic

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Glenn Leongson, one of the hundreds entrepreneurs who benefitted from NegosyoKo loan of BanKo’s Rehab Fund

BPI Direct BanKo, the microfinance arm of the Bank of the Philippine Islands (BPI), is offering various programs that include the newly launched term extension and loan rehab programs to help its micro-entrepreneur clients cope with the pandemic.

Since the enhanced community quarantine (ECQ) was implemented on March 15, around 62% of BanKo’s clients had to temporarily stop their operations for over two months. Now that the lockdown has been eased, and as these self-employed micro-entrepreneurs (SEMEs) begin to reopen their businesses, they are faced with new challenges such as lack of working capital, restricted supply sources, and, for some, lower demand.

“Our clients need our support now more than ever. As their partner, we are here to help them revive their businesses for the sake of their families amid these trying times,” said BanKo Head of Financial Inclusion and Microfinance Loans Rod Mabiasen, Jr.