BuildHub PH, BPI partner for up to P30-M credit line for construction firms --[Reported by Umva mag]

BUILDHUB PH, an online marketplace focused on construction, has teamed up with the Bank of the Philippine Islands (BPI) to offer up to P30 million in credit line.

The initiative, launched on Sept. 10 at BPI’s Ayala Triangle Gardens office, aims to support hardware stores and contractors nationwide by expanding financial options through BPI’s Ka-Negosyo Credit Line (KCL), BuildHub PH said in an e-mailed statement on Monday.

“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,” Andre Christopher C. Bernardo, co-chief executive officer (CEO) of BuildHub PH.

The partnership is further strengthened by KCL, which offers pre-assessed BuildCredit users, who have maintained active accounts on the platform for at least 12 months, to access a credit line of up to P30 million without requiring collateral.

BuildHub said KCL is also available on BPI Online, BPI BizLink, the BPI mobile app, and BPI debit cards.

It said users are required to submit documentation, such as a valid identification and Department of Trade and Industry registration, to apply for the loans.

BuildCredit also offers interest rates of 1% to 3% for 30 to 60-day terms, helping small and medium-sized construction businesses achieve stability and growth.

“At BPI, we are committed to empowering SMEs (small- and medium-sized enterprises) across all sectors, including small businesses in construction,” said Dominique Ocliasa, business banking head at BPI.

Richard Lim Jr., co-CEO of BuildHub PH, said that the collaboration opens up significant capital for users without traditional barriers like collateral, that often hinder growth.

He added that this will also enhance the overall competitiveness of the construction industry in the Philippines.

The platform, operated by technology company Buildmart PH Technologies, Inc., offers the first online marketplace for construction materials, hardware supplies, and home improvement needs. — Aubrey Rose A. Inosante

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