As an athlete, 2020 Olympic gold medalist Hidilyn Diaz knows how important it is to have an effective team that guides her, especially in an individual sport like weightlifting. During her sports journey, Hidilyn lean on to herself and her determination. She is also glad that his coaches and trainers also give a lot of help in his preparation for competitions.
In the field of entrepreneurship, Hidilyn’s approach is similar. Among the rewards Hidilyn received from several Philippine corporations when she won Olympic gold were business franchises such as the two outlets of the Chick ‘N Juicy chicken rotisserie franchise. One outlet is in Eastwood, Quezon City while the other is located in Hidilyn’s hometown in Zamboanga.
She admitted that it is important to have a partner bank with the ability and good track record to help micro, small and medium entrepreneurs (MSMEs) like her. One of these is the partner bank extension of loans that MSMEs can use to expand their business.
“I remember what my entrepreneurship teacher said back then, that it’s okay to take out a bank loan for business,” Hidilyn said. “Let’s not be afraid to take out a bank loan to expand our business, instead of using the money we have saved for it. At least we can get something out in an emergency.”
Aside from her business franchises, Hidilyn also wants to have a Hidilyn Diaz Weightlifting Academy and put up a cafe.
“I’m hoping to do this, we really need funding for this business,” she added. “It’s important to have a good partner bank that will guide you though their loans as well as the important business advice they provide.”
One is BDO Network Bank that is committed to guide MSMEs in their business in the province. With the help of BDO Network Bank’s Kabuhayan Loan, MSMEs can use the funds to expand their businesses.
This is what Aling Merlinda Coronado, an MSME and BDO Network Bank client from Nagcarlan, Laguna, did. With the help of Kabuhayan Loan, Aling Merlinda was able to buy additional stocks for her business, and a truck and jeepney for her deliveries.
Ernesto Abad was also among those who used the proceeds of the Kabuhayan Loan for expanding their ventures.
Due to the lockdown caused by the pandemic, Ernesto was almost forced to close their store in the market. But with the help of the Kabuhayan Loan, Ernesto was able to buy more goods and he continues to promote their business.
BDO Network Bank is an active partner of MSMEs for their business expansion. To avail the Kabuhayan Loan, the borrower must have an existing business for the last three years.
For more information on Kabuhayan Loan and other BDO Network Bank products and services, visit BDO Network Bank’s official website or its official Facebook page.