Bank of Makati Business Loan

Bank of Makati Overview

The Bank of Makati (A Savings Bank), Inc. (BMI) was established in 1956 as a rural bank before being granted authorization to operate as a savings bank in 2015. Fortunately, the BMI has been able to compete with the big players in the banking industry and is growing fast. But, even as a rural bank, BMI has demonstrated its devotion to being prominent in its chosen industry by being named the largest rural bank in 2006 – larger, in fact, than most savings banks. Indeed, it has grown from a rural bank to a network of 48 full-service branches, 14 microfinance-oriented branches, and 40 branch lite units.

To date, BMI has a lot to offer to the Filipino people in terms of their finances. Aside from expanding its reach, the bank also expands its products and services to complement the increasing demands of Filipinos.

Bank of Makati Business Loans 

BMI Power Negosyo Enterprise Loan (PNEL) 

The Power Negosyo Enterprise Loan (PNEL) is a BMI project that assists entrepreneurs from Micro, Small, and Medium Enterprises (MSME). As BMI recognizes its constant need for funds to launch or sustain its business operations, the bank has presented the PNEL to its target beneficiaries in order for them to get the financial boost they need.

BMI PNEL is ideal for business development, such as launching a new branch, heading into a new business, acquiring new assets, gap receivables, and so on, due to the minimal requirements and the amount borrowers may receive.

Loan Features

• Loan Amount: up to ₱300,000 at a flexible interest rate
• Loan Term: maximum of 2 years
• Other Fees and Charges: no upfront payment. Fees are to be deducted from the loan proceeds

Note: Features applicable only for PNL 150 & PNL 300

BMI Business Loans 

BMI Business Loan is another alternative for enterprises offered by the bank. The intended recipients of this loan, on the other hand, are SMEs looking to grow and expand their operations. The loan can be used for working capital, purchase of fixed assets such as land, buildings, and equipment; plant expansion, construction, or financing of trade receivables. 

Loan Features 

• Interest is based on prevailing market rates
• Loan Facilities:
  • Revolving Credit Line 
  • Receivables Financing Line / Discounting Line:
  • Back-to-back Loans
  • Term Loans
  • PDC Financing Line
  • Short-Term Loan
  • Case-to-case Loans
  • Power-Insta Credit

BMI Microfinance Loan

BMI Microfinance (Malalapitan) Loan is available for self-employed individuals aged 18 to 65, who would like to expand and succeed in their business. They may either receive a loan of up to ₱150,000 to use as an investment or to purchase business equipment and supplies.

The loan also includes a BMI Maaasahan Savings Account where a percentage of their loan payments are saved to be used once the loan is paid off.

Loan Features 

• Loan Amount: ₱20,000 to ₱150,000
• Loan Payment Frequency: Daily, Weekly, or Monthly at any BMI branches within Metro Manila
• Loan Term: 3 to 12 months
• No collateral 

How to Apply for BMI Business Loan 

Borrowers who would like to experience the benefits of BMI Business Loans may visit any of the Bank of Makati branch nearest to them and look for a Branch Relations Officer for further assistance. They may also contact the bank’s hotline at (632) 8889-0000 or send a message to their official Facebook page for more information. 

To find the branch nearest you, simply visit the Bank of Makati website and use the branch locator. 

Conclusion 

Since its establishment in 1956, the Bank of Makati (A Savings Bank), Inc. has indeed motivated countless Filipinos to meet their financial goals and pursue their dreams. With about ₱5.8 billion in the capital, BMI is currently focused on expansion in order to reach every Filipino across the country and assist them with their financial needs – whether for personal or business interests.