BPI's thrift bank subsidiary, BPI Family Savings Bank (BFSB), was conferred the Special Citation for Franchise-Friendly Bank at the recently held 10th Franchise Excellence Awards (FEA).

This is the first time that a bank has received the Special Citation award.

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FEA is organized by the Philippine Franchise Association (PFA) in partnership with the Department of Trade and Industry, along with the cooperation of Philippine Retailers Association and the Philippine Chamber of Commerce and Industry.

The Special Citations for FEA are given to institutions and individuals who have made significant contributions to support the franchising sector of the country. In BFSB's case, the Grow Your SME Business Solutions and MSME Development Program garnered the recognition.

"We gratefully receive the FEA Special Citation award as this gives appreciation to BFSB's philosophy of building up small and medium entrepreneurs through our growth-enhancing products and services," said BFSB president Alfonso Salcedo.

The recognized BFSB's Grow Your SME Business Solutions program provides a comprehensive lineup of products and services that provide short-term and long-term financing for the growing entrepreneur and would-be franchisees.

A total resource package, the program includes business loans, savings and investments, and cash management services designed to meet the various needs of an entrepreneur - from franchising and expansion to construction and renovation.

This summer, the bank has also launched a Franchise Financing Program for its growing franchisee clients. At present, franchisees compose more than 15 percent of Grow Your SME business loan borrowers.

"Through the products and services of this program, we work to cater to the specific needs of the franchising sector," added Salcedo.

Also reaching out to small and medium entrepreneurs, the thrift bank has initiated capacity-building programs that equip enterprising Filipinos. BFSB partners with DTI and BPI Foundation for its "Show Me, Teach ME SME" program that develops the financial literacy of micro and small entrepreneurs in major regions all over the country. The bank also regularly holds SME Business Forums for its clients and depositors, focusing on SME relevant topics and issues.

To learn more about BFSB's Grow Your SME Business Solutions, call 845-6880 or visit a BPI or BPI Family Savings Bank branch near you. (Press release)