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Manila Bulletin devider Business devider Banking & Finance devider SB Finance offers loans to foodpanda merchants

SB Finance offers loans to foodpanda merchants

Published Jun 20, 2023 06:41 am
SB Finance, the consumer finance arm of Security Bank Corporation, has inked a partnership with online food and grocery platform foodpanda to offer personal loans to its more than 15,000 partner merchants. Through its zukì mobile app, SB Finance is extending loans ranging from P30,000 up to P2 million to foodpanda partner merchants to help expand their market share through affordable and accessible loan products. "We at SB Finance understand the value provided by last-mile services such as foodpanda as they support MSMEs reach and growth," said SB Finance Head of Sales and Distribution for Consumer Finance Mikal Rallonza. Rallonza added that, “It was only logical for SB Finance to add value via accessible and affordable credit access to foodpanda's partner merchants creating a positive cycle for the entire ecosystem.” Despite the reopening of the economy, Filipinos continue to embrace on-demand, online services such as foodpanda, a leading online food and grocery platform. It has helped local businesses nationwide establish their online presence, connect with a larger customer base, and drive more delivery sales. Through the SB Finance-foodpanda partnership, these local businesses will have even greater opportunities to reach new heights. “It’s always our priority to help our partner vendors and merchants thrive in the online digital space, particularly small Filipino businesses,” said foodpanda Philippines Commercial Director Luis Antonio Yanga. He noted that, “By adding the opportunities provided by this partnership with SB-Finance, we hope to achieve our shared goal of assisting and supporting our MSME partner vendors who continue to be the backbone of our economy.” SB Finance is a joint venture between Security Bank and Thailand’s Bank of Ayudhya (Krungsri). It offers multi-purpose loans through its four main product offerings, namely, Personal Loan, Car4Cash, and MotorsikLOAN, and eSALAD.
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