Taxumo, the country’s premier online tax compliance platform, has forged a dynamic partnership with BPI Business Banking in a significant move that’s set to reshape the financial landscape for Filipino small and medium enterprises (SMEs).
This collaboration aims to dismantle one of the most persistent barriers to MSME growth: access to funding. The alliance promises to deliver streamlined loan processing and preferential rates on BPI’s Ka-Negosyo Loans, directly through the Taxumo platform.
For many Filipino entrepreneurs, the path to expansion is often hindered by the complexities of securing financing. Traditional loan applications demand a substantial amount of documentation, including meticulously organized tax records, which can be a time-consuming and daunting task. This is where Taxumo’s innovative solution comes into play.
Taxumo streamlines BPI loan applications for entrepreneurs
The online tax compliance platform has long been a vital tool for MSMEs, simplifying the often-intricate process of tax compliance.
By providing a user-friendly platform for managing and filing taxes, the online tax compliance platform ensures that its subscribers, encompassing both sole proprietors and corporations, maintain accurate and up-to-date financial records. These records, crucial for loan applications, are now readily accessible within the Taxumo ecosystem.
The partnership with BPI Business Banking leverages this advantage. The company’s subscribers can now initiate their BPI Ka-Negosyo Loan applications with a simple click within their Taxumo accounts. This seamless integration eliminates the need for cumbersome paperwork and protracted processing times, significantly enhancing their chances of loan approval.
“We are thrilled to join forces with BPI Business Banking to unlock new opportunities for Filipino entrepreneurs,” stated Ginger Arboleda, Chief Executive Officer of Taxumo, in a press release. “This collaboration is about empowering our SMEs, equipping them with the financial resources and support they need to pursue their growth ambitions with confidence. Taxumo’s platform, with the consent of business owners, facilitates the secure sharing of financial information with banks, thereby expediting the loan assessment and approval process.”
BPI’s Ka-Negosyo Loans, a suite of financing options offered by the bank to support micro, small and medium-sized businesses (MSMEs) in the Philippines, are designed to address a diverse spectrum of financing needs.
From bolstering working capital to fueling business expansion, these loans aim to provide access to capital for various business needs, including working capital, seasonal demands, and expansion. The loan products also offer flexible terms and competitive interest rates. The integration with Taxumo’s platform elevates the loan application experience, making it more efficient and user-friendly for borrowers.
A BPI representative, Ms. Eloi, emphasized the shared vision driving this partnership: “First and foremost, we both share the same vision, we share the same value, we want to help Filipino MSMEs grow their business and reach their dreams.”
“Our collaboration with Taxumo allows us to reach more MSMEs and provide them with the financial tools they need to grow. It’s a step towards a more inclusive financial ecosystem,” she added.
Faster loans, better rates for Taxumo users
The key benefits for subscribers include:
- Accelerated BPI Ka-Negosyo Loan processing: Experience a faster and more efficient loan application journey.
- Preferential business loan rates: Access exclusive loan rates designed to support MSME growth.
- Streamlined document and data submission: Simplify the process of providing necessary financial information.
- Accessibility for sole proprietors and corporations: Both business structures can benefit from this enhanced loan access.
This initiative represents a significant stride in Taxumo’s ongoing commitment to fostering the success of Filipino entrepreneurs.
Beyond simplifying tax compliance, Taxumo is now actively facilitating access to vital financial resources, paving the way for new business opportunities and sustainable growth.
For further details on the BPI Ka-Negosyo Loan offerings available to Taxumo subscribers, interested parties are encouraged to visit Taxumo’s official social media channels on Facebook, Instagram, and TikTok.