GoTyme Bank and foodpanda Introduce Loan Program for MSMEs: Boosting Small Business Growth

GoTyme Bank and foodpanda have partnered to empower micro, small, and medium enterprises (MSMEs) within foodpanda’s online food and grocery delivery platform. This collaboration provides partner vendors with flexible financing options for working capital, delivering the financial support needed to sustain and grow their businesses.

Addressing Financing Challenges for MSMEs

The new loan program directly tackles the financing challenges faced by MSMEs in today’s economic climate, which is marked by rising operational costs and limited access to funding. This initiative gives online food delivery entrepreneurs easy access to capital at competitive interest rates, featuring a straightforward application and repayment process.

Additionally, this loan program complements foodpanda’s existing “Negosyo Like a Panda” initiative, designed to offer business loans that fuel growth for partner vendors.

Championing Filipino MSMEs

GoTyme Bank is the fastest-growing bank in the Philippines, born from a collaboration between Tyme, a multi-country digital banking group, and members of the Gokongwei Group. With 4.5 million customers in less than two years, GoTyme Bank is committed to supporting Filipino entrepreneurs.

foodpanda, a subsidiary of global food delivery leader Delivery Hero, is the largest food and grocery delivery platform in Asia. Launched in the Philippines in 2014, foodpanda operates in 150 cities and municipalities, delivering meals from curated local restaurants to food lovers nationwide.

Enhancing Cash Flow for Partner Merchants

This partnership aligns with GoTyme Bank’s mission to bridge the credit gap for MSMEs, a vital segment of its customer base. By streamlining the loan application process and offering flexible repayment options, GoTyme Bank and foodpanda enable MSMEs to thrive. Partner merchants can focus on their core operations while enjoying the convenience of adjustable payment schedules—paying more during peak seasons and less during lean times.

Lhecks De Castro, finance director at foodpanda Philippines, emphasizes, “We are committed to leveraging GoTyme’s expertise in digital banking and MSME lending. Most of our partner vendors come from the MSME sector, and our goal is to offer innovative, accessible loan products specifically designed for them. This partnership prioritizes their financial empowerment.”

Nate Clarke, President and CEO of GoTyme Bank, appreciates foodpanda’s recognition of their dedication to supporting MSMEs: “Through this exciting partnership, we look forward to providing entrepreneurs with the crucial financial support they need to achieve their dream business.”

Key Benefits of the GoTyme Bank and foodpanda Loan Program

Flexible Financing: Tailored options to meet the unique needs of MSMEs.

Easy Application: A simple process that allows quick access to funds.

Competitive Interest Rates: Affordable financing solutions to support business growth.

Optimized Cash Flow: Flexible repayment options to manage seasonal variations.

For more information on how this partnership can benefit your MSME, visit GoTyme Bank and foodpanda’s websites.