Happy New Year!
To start the year with a bang, we are glad to inform you that we have made special arrangements with our new partner bank, BPI-Globe BanKO, to provide Expresspay franchisees with a Standby, Revolving Credit line (No collateral, and no co-maker required) of up to P300,000.00 to be used as additional funding for your business transactions. This is an exclusive product created by BanKO for Expresspay franchisees.
This facility has the following features:
- Standby: It is readily available. You can draw on it partially or in full. The amount you requested shall be deposited to Expresspay’s BanKO account for immediate crediting to your Expresspay wallet account.
- Revolving: Once you pay back the money you borrowed, this amount again becomes readily available for you to draw out. Loan re-availment can be done within the same day.
- Interest rate: 2.5% per month, to be computed on a daily basis (2.5%/30)
If you borrowed P50,000.00 and returned it after 3 days, you shall only pay an interest of P125.00 (P50,000.00 x 2.5%/30 x 3 days = P125.00).
- Term: Payable anytime within 30 days (Principal + Interest)
- Penalty: 5% of unpaid amount
- Processing fee: Waived
To avail of this credit line, you only need to fill-up the official Application Form. Once accomplished, send it back to us together with the required business documents.
We hope that this will assist you in your Expresspay business. But like with a credit card, if used unwisely, it could become a liability.
Good luck and best wishes!