GoTyme Bank, foodpanda launch loan program for MSMEs

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GoTyme Bank and foodpanda have joined forces to empower micro, small, and medium enterprises (MSMEs) within foodpanda’s online food and grocery delivery platform. This collaboration offers partner vendors flexible financing for working capital, providing them the financial boost they need to sustain their businesses.

The loan program directly addresses the financing challenges faced by MSMEs in today's economic climate, characterized by rising operational costs and lack of access to funding.

It gives online food delivery entrepreneurs easy access to capital at competitive interest rates with a simple application and repayment process. The program also complements foodpanda’s existing “Negosyo Like a Panda” initiative, which offers business loans to partner vendors to fuel their business growth.

Standing: Shern Teo, GoTyme Bank Head of Strategy and Lending, John Kane, GoTyme Capital Asia Head, Jan Mikee Regalario, foodpanda Philippines Fintech Lead, Valerie Alivia, foodpanda Philippines Fintech Manager

Sitting: Albert Tinio, GoTyme Bank Co-CEO, Nate Clarke, GoTyme Bank President and CEO, Leopoldo De Castro Jr., foodpanda Philippines Finance Director, Shaun Princess Opulencia-Malalad, foodpanda Philippines Head of Fintech

Championing Filipino MSMEs

GoTyme Bank, a collaboration of Tyme, a multi-country digital banking group, with members of the Gokongwei Group, is the country’s fastest-growing bank, with 4.5 million customers, having operated for less than two years.

foodpanda is a subsidiary of global food delivery leader Delivery Hero, an on-demand food and grocery platform headquartered in Singapore. It is committed to delivering customers their favorite meals quickly. Today it is the largest food and grocery delivery platform in Asia, operating in 11 Asian markets comprising thousands of restaurants across 400 cities. It was launched in the Philippines in 2014, and today delivers meals from curated local restaurants to food lovers nationwide. Currently operating in 150 cities and municipalities, the platform continues its expansion across the country.

This partnership aligns with GoTyme Bank’s mission to support Filipino entrepreneurs by bridging the credit gap for MSMEs, which form a growing portion of its customer base.

GoTyme Bank, together with foodpanda, empowers MSMEs to thrive by streamlining the loan application process and offering flexible repayment options. Through this partnership, foodpanda partner merchants can focus on their core operations while enjoying the convenience of paying more during peak seasons and less during lean times. This tailored approach helps MSMEs optimize their cash flow and achieve their financial goals.

Nate Clarke, GoTyme Bank President and CEO and Leopoldo De Castro Jr., 

foodpanda Philippines Finance Director

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

GoTyme Bank President and CEO Nate Clarke says he appreciates foodpanda’s recognition of GoTyme’s 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,” he says.

Legarda calls for comprehensive legislative oversight and budget integration of women, peace, and security initiatives

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Senator Loren Legarda championed the call for integrating Women, Peace, and Security (WPS) initiatives into national policies and budget frameworks at the International Conference on Women, Peace, and Security (ICWPS), held at the Philippine International Convention Center (PICC), Pasay City from October 28 to 30, 2024.

The event marks the upcoming 25th anniversary of United Nations Security Council Resolution 1325 next year, which highlights women’s roles in peacebuilding and security. The Senator recalled that during last year’s Department of Foreign Affairs budget deliberations, she noticed that the request for initial seed capital for the ICWPS was listed merely as a side note and was not prioritized.

“Understanding its importance, I made it my own amendment to the national budget to ensure these remarkable women could come together,” Legarda shared.

This initiative by the four-term laid the groundwork for a whole-of-government commitment to host the conference in the Philippines.

“That is the mark of a woman when the woman looks into the details and sees the import of things which are essential. Don’t they say that what is essential is often invisible to the eye? Well, I saw it amidst their pile of unrequested requests, unasked for because there was no remaining budget,” Legarda said.

During the roundtable discussion with other parliamentarians, Legarda addressed a critical question: “How can parliamentarians better advocate for the adoption, review, and implementation of National Action Plans on WPS?”

Legarda identified two key responsibilities of the Philippine Senate. First, she emphasized the oversight role of Congress in ensuring laws are effectively funded and implemented, recognizing that many well-intentioned policies fall short in execution.

“Our role is not just policy-making but ensuring oversight on policies already enacted,” Legarda explained.

“While we have enacted so many laws in many decades, some of these laws are unfunded or underfunded or perhaps even not effectively and efficiently implemented. The oversight function of Congress, and in this respect, the Philippine Senate, is very important. The oversight function, the relevance of laws already enacted, the nuances of revising or amending it based on societal changes and global challenges, that's important.”

“Since 1998, I have seen laws with good intentions and funding, but why are people still poor, deprived, vulnerable and impoverished? Because the implementation is lacking. And this is not to cast aspersion on any administration or in any executive branch of government. It is just that we need to see the bigger and the minutest detail of the picture—in how we must pre-position goods, establish gender-responsive evacuation centers, ensure safe hospitals and schools, and in how women, peace, and security must be understood by every grade school child.”

Second, Legarda highlighted the power of legislative and budgetary influence, advocating for WPS to be mainstreamed across the national budget and emphasizing that WPS initiatives should extend beyond the traditional 5% Gender and Development (GAD) allocation.

“For two, three decades ago, we have had the GAD, where 5% must be spent. I think that needs to be updated. Why only 5%? WPS must be mainstreamed in the 5 trillion national budget, just as climate change, adaptation, mitigation and resilience, and disaster risk reduction must be mainstreamed in the whole national budget. So must Women, peace, and security are all cogs in a whole wheel that you cannot take out,” Legarda stressed.

“Yes, we need the policy. Yes, we perform oversight. Yes, we have the financing. But we must ensure that those who are implementing all the policies we do will implement it efficiently and effectively. We must have the tools to measure the impact if lives have improved well and by how many percent. It should not just be quantitative, but focused on the quality of life of Filipinos,” Legarda concluded.

Legarda’s support and participation in the ICWPS is a powerful reminder of the potential for policy-driven change in the lives of women and girls in communities. Her commitment to integrating WPS into national and legislative processes reflects her broader advocacy for peace, security, and inclusive governance, further establishing the Philippines as a global leader in advancing the WPS agenda.