BDO is one of the financial institutions in the Philippines offering affordable financing to small entrepreneurs and investors.

What is BDO SME loan?

The SME loan offered by BDO is an affordable financing that can help newbie entrepreneurs to respond immediately to the needs of the business. Existing business venture can also avail SME loan as it can also be used to buy additional inventory or expand a current business.

Aside from the SME loan, BDO also offers loan facilities that can help business owners to manage the cash flow efficiently. The loan facilities can also be used to acquire equipment or property for higher productivity.

The SME loan is a secured fixed-term loan and it features SME Ready Check, a secured credit line designed to support or augment the working capital requirements.

Affordable and flexible payment terms

An entrepreneur can borrow at BDO thru SME loan with the maximum amount of Php20 million. But, the approved amount of loan also depends on the collateral’s appraised value. The payment term is affordable and flexible. You can the loan from 1 year to 10 years, depending on the payment option suitable to your cash flow. You can also pay the loan using your BDO Savings or Current account through Auto Debit Arrangement.

How to avail SME Loan

If you want to avail the BDO SME loan, all you have to do is to use any of your real estate property either residential or commercial or mixed-use as collateral.

Read Also:

• How to Open A BDO Nomura Account Online
• How to Invest, Make Money Grow in Retail Treasury Bond

SME loan is a great help to entrepreneurs who want to start a small business, but don’t have enough fund. If you’re interested about SME loan, all you have to do is to inquire from the nearest BDO branch in your place.

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If you are a small business owner, it is only natural to be concerned when you think about inflation because without you knowing it, it can just boost the cost of your business, and therefore leave you with a smaller margin.

However, there’s no need to worry because there are strategies you can do to make sure that you can overcome the threat of inflation and protect your small business.

1.       Be wise in your spending. You have to be careful and wise when it comes to the things you need to invest your money on. Before you even decide to purchase anything for your business, you need to take time to reflect and ask yourself if these things are really needed. Buy only the things that you need. One tip you must remember, invest on the things that do not easily wear out. Also start managing and reducing the costs of your business when it comes to the things that you can control like electricity, internet and other bills. If they do not help your business, eliminate them.

2.       Assess your revenue. There is no better time to assess or evaluate the revenue of your business than now. This is something that you should do even before the inflation so that you will be able to determine whether your business can still thrive despite the drastic increase on costs. Make sure that your business will be able to accommodate the changes brought about by inflation.

3.       Strategize on your marketing. When inflation happens, the prices will naturally increase and you may also need to do a little increase on the costs of your products. However, you need to make sure they are still affordable for your customers, or you might be losing them. This is where your strategy will have to come in. You need to have strategic marketing ideas that will keep your loyal customers and at the same time, still continue to attract new ones. You could probably have a discount, freebies and others. Be creative with your strategy.

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Don’t worry because there are just several ways for you to attract more sales and profit for your business without even having to spend a lot. As an owner of a small business, what you need to make sure of is that you are focused on low-cost marketing strategies because while your business is at its early stages, investing a lot of your time and money will not be the wisest decision to make.

Here are some of the most useful strategies for your small business to help you get started.

1. Set a goal and decide on a budget. All businesses must have an end-goal. What do you really want your business to achieve? You have to be very specific. And after defining your goals, decide on a budget so that you will know how you can strategize. Also identify which of your goals are short term and are urgent, and the ones for long term.

2. Leverage on online marketing. Online marketing is one of the fastest ways by which you can attract more sales to your business. Everybody practically gets online, and if you try to advertise your business let’s say in Facebook, it will increase your business exposure. Facebook Ads is inexpensive but it can be very effective, especially if your target audience spend a lot of their time on this social media network.

3. Try email marketing. If you want to encourage and build loyalty from your consumers, email marketing is just right for you. Your website should have a part where it will be able to gather your visitor’s email address and if they hand this information to you, it will be your chance to send them notifications. Email is one excellent way for you to connect with your existing customers, as well as the potential ones.

What most people appreciate these days is the feeling of being connected. They do not appreciate the mere existence of a business or a company. They want something more humane, something with a personal touch, and that is something you can implement when you do email marketing.

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The good news is that there are small business ideas appropriate for rainy season. You won’t only help people answer their concerns but also earn profit.

1. Rain boots – Rubber rain boots will do, but you can be trendy by selling stylish rain boots. There are fashionable rain boots that you can sell that will surely fit to Filipinos. It’s a good way to stay comfortable in spite of the downpour.
2. Rain coats and jackets – These items are very saleable during rainy days and your target customers will be both children and adults. Even those who work outside and bike riders will need them for protection.
3. Vending business – Rainy season restricts people to do what they want. It is also associated to chilly weather condition. So, why not start a food and drink vending business? You can take your cart to work places and sell hot meals, snacks and beverages.
4. Drying station – This is an excellent business idea during rainy days as you can help people who were soaked by the rain to dry their clothes and other things in just a few minutes.
5. Tea café business – Any weather condition can’t stop people to go online. Thus, starting a tea café business will attract people to stay to do online thing comfortably.
6. Gutter cleaning services – During rainy season many homeowners are problematic about clogged gutters. Offering a gutter cleaning service can help homeowners and at the same time it’s a good way to make money.
7. Pick up service – Oftentimes, heavy rains would make people stranded. With this, if you have tricycle or car you can use it to rick up people who were stranded.
8. Foil pack bags – This is a smart business idea during rainy days as it does not require big capital. You can start a new business from scraps like tetra pack foil. Use your creativity to create useful stuffs that are water resistant.

Rainy season may last for months. That’s why before the season starts, think about a business idea in which you can invest. If you don’t have enough startup capital you can start small and once it prospers you can expand your business or start another one.

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