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October 01, 2023

SB Finance offers Personal Loan to foodpanda merchants

SB Finance and foodpanda ink partnership for more than 15,000 merchants. Pictured left to right, Shaun Malalad, foodpanda Business Development Manager; Carlo Brillantes, foodpanda Digital Payments Head; Mikal Rallonza, SB Finance Head of Sales and Distribution for Consumer Finance; and Gerard Betita, SB Finance Chief Business Officer.

SB Finance, the consumer finance arm of Security Bank Corporation, has inked a partnership with leading online food and grocery platform foodpanda to offer personal loans to more than 15,000 of its partner merchants.

Through its zukì mobile app, SB Finance is extending loans ranging from PHP30,000 up to PHP2 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. 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 ” said Mikal Rallonza, Head of Sales and Distribution for Consumer Finance.

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. 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,” said foodpanda Philippines Commercial Director Luis Antonio Yanga.

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.

To know more about SB Finance, visit www.sbfinance.com.ph.


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