GoTyme Bank has partnered with foodpanda to introduce a transformative loan program aimed at empowering micro, small, and medium enterprises (MSMEs) within foodpanda’s vendor network across the Philippines.
GoTyme and foodpanda executives during the MOA signing that’ll offer a flexible loan program for MSMEs
By addressing common financial barriers that MSMEs face, this collaboration provides a flexible and accessible solution to help small businesses expand, invest in their operations, and navigate the financial challenges of running a business in a competitive market.
Designed to meet the specific needs of foodpanda’s partner vendors, this new loan program offers streamlined access to capital, tailored repayment schedules, and an easy online application process.
With minimal paperwork, competitive interest rates, and terms that reflect the financial realities of small businesses, the program marks a significant step forward in supporting Filipino entrepreneurs. The initiative also complements foodpanda’s “Negosyo Like a Panda” campaign, which already provides business loans for vendors and underscores foodpanda’s commitment to MSME growth.
GoTyme’s partnership with foodpanda a boost for MSMEs
Both companies emphasize that this partnership addresses a crucial gap in MSME financing. GoTyme Bank’s CEO Nate Clarke highlighted the importance of supporting the financial health of small businesses, noting that this collaboration opens new doors for MSMEs to access funds, optimize their cash flow, and focus on core growth opportunities.
“Together with foodpanda, we’re providing small businesses with flexible loan products tailored to their unique needs, making financial empowerment a reality for many more Filipino entrepreneurs,” Clarke said in a press release.
Foodpanda’s finance director, Lhecks De Castro, echoed these sentiments, expressing that the partnership is designed to alleviate common pain points in MSME financing, especially by making the application and approval process accessible through digital banking. “We are dedicated to helping our vendors succeed, and we believe this partnership with GoTyme will enable our MSMEs to reach new heights,” De Castro added.
Flexible, accessible loans to empower small businesses
A key feature of the GoTyme-foodpanda loan program is its flexible repayment schedule, which accommodates the cash flow patterns of small food and beverage vendors.
Many MSMEs experience fluctuating income, whether due to seasonal demand or other factors, and traditional loans with rigid monthly payments can be burdensome.
With GoTyme’s tailored repayment options, these vendors can repay their loans based on their revenue cycle, ensuring that repayment doesn’t compromise their operational budget.
This flexibility is crucial for MSMEs in the food sector, allowing them to prioritize growth and customer service without the financial strain of a fixed repayment plan.
For many foodpanda vendors, this means they can use loan funds to manage daily expenses, expand their services, or invest in new equipment to improve efficiency and service quality. By easing access to much-needed working capital, GoTyme and foodpanda are making it easier for small businesses to manage the ups and downs of cash flow and stay resilient.
Streamlined digital access for MSME loan applications
In today’s fast-paced business environment, digital access to financing is more important than ever. Through GoTyme’s digital banking infrastructure, foodpanda vendors can complete the loan application process entirely online, eliminating the need for physical bank visits and extensive paperwork.
This digital-first approach is ideal for busy MSME owners who can now apply, receive approval, and manage their loan repayments from their mobile devices.
This collaboration between a digital bank and an e-commerce platform represents a growing trend in digital-first financial solutions that are specifically tailored for small businesses.
The integration of GoTyme’s digital banking services with foodpanda’s vendor network enables small businesses to access vital resources efficiently and without the traditional financial hurdles.
A new path for MSME financing
The GoTyme-foodpanda loan program is especially timely as the Philippine economy continues its post-pandemic recovery.
MSMEs, which the BSP sees as a crucial part of the country’s economy, represent a significant portion of the financial system, driving job creation and local economic development. Providing these small businesses with accessible financial support is essential to enabling their growth and ensuring they remain competitive.
The partnership also aligns with the Philippine government’s initiatives to boost the digital economy and support the growth of MSMEs as the country embraces digitalization. By addressing the immediate financial needs of foodpanda vendors — many of whom are micro and small enterprises—GoTyme and foodpanda are helping to secure a sustainable future for these businesses.
For the vendors, the loan program offers a tangible opportunity to invest in essential areas like staff hiring, inventory expansion, and enhanced delivery capabilities to better meet customer demands. By supporting MSMEs, GoTyme and foodpanda not only strengthen their own business ecosystems but also contribute positively to the wider economy, helping small businesses remain resilient and thrive in an increasingly digitalized marketplace.
The GoTyme-foodpanda collaboration is setting a new standard for MSME financing in the digital age, providing Filipino small business owners with flexible, accessible financial solutions designed to support their unique needs. As this loan program rolls out, it has the potential to empower a new wave of MSMEs, contributing to the broader goal of economic growth and digital inclusion across the Philippines.