{"id":60071,"date":"2023-11-27T16:36:54","date_gmt":"2023-11-27T08:36:54","guid":{"rendered":"http:\/\/www.upgrademag.com\/web\/?p=60071"},"modified":"2023-11-27T16:36:58","modified_gmt":"2023-11-27T08:36:58","slug":"gotyme-bank-paymongo-provide-flexible-financing-for-smes","status":"publish","type":"post","link":"http:\/\/www.upgrademag.com\/web\/2023\/11\/27\/gotyme-bank-paymongo-provide-flexible-financing-for-smes\/","title":{"rendered":"GoTyme Bank, PayMongo provide flexible financing for SMEs"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>GoTyme Bank and PayMongo Philippines, Inc. have inked a pioneering partnership to expand financial inclusion among SMEs by making business loans more accessible to thousands of SMEs under PayMongo\u2019s merchant ecosystem. Through the partnership, businesses may avail of loans of up to P500,000 through GoTyme\u2019s banking services.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nate Clarke, GoTyme Bank CEO, says: \u201cAs GoTyme Bank expands to offer more banking products to our customers, we also continue to build meaningful relationships and foster financial inclusion. Through PayMongo Capital powered by GoTyme Bank, we hope to make loans and banking in general more accessible to SMEs and give them the preferred banking experience they deserve.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A fully digital financial program, PayMongo Capital powered by GoTyme Bank marks both companies\u2019 initial product offering in its expansion efforts. The streamlined and efficient application process eliminates the lengthy paperwork traditionally associated with financial services, providing a seamless, two-minute, two-screen journey. The first screen prompts users to input the desired amount and tenor, while the second screen requires confirmation and verification.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">PayMongo merchants who qualify will enjoy seamless disbursement and receive the loaned amount in one (1) banking day, depending on the receiving bank\u2019s processing. Eligible merchants will receive instant approval, and a cash advance offer complete with flexible repayment options\u2014no collaterals required. To track payments, merchants have access to a fully transparent view of loan transactions through the PayMongo merchant dashboard. Other notable features include:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u25cf Flexible term of the loan &#8211; Instead of fixed tenor or term, GoTyme Bank offers tailor-fit financing options for businesses, such as flexible tenor options that align with their unique preference.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u25cf Transparent pricing &#8211; Unlike traditional loans, PayMongo Capital powered by GoTyme Bank does not include hidden fees, processing fees, penalty fees, or interests. Businesses are only required to pay a competitive flat fee, simplifying the financial landscape for borrowers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u25cf Flexible pay schedule based on your daily sales and unfixed monthly amount &#8211; With PayMongo Capital powered by GoTyme Bank, you can pay more or less than your monthly fee through PayMongo\u2019s easy repayment channel that automatically deducts from a portion of your sales. So merchants can go about their business as usual without worrying about repayments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Albert Tinio, GoTyme Bank co-CEO says: \u201cGoing into loans is a big step for GoTyme Bank and we are optimistic that with the partnership with PayMongo, we will be able to give SMEs the best customer service and peace of mind. By making the process easier and less intimidating, merchants are better empowered to make the best choices for their business.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAt PayMongo, our unwavering commitment to support the growth of small and medium-sized businesses takes a groundbreaking leap with our partnership with GoTyme Bank. This collaboration is a game-changer for PayMongo merchants, unlocking additional capital to propel their online enterprises toward unparalleled success,\u201d Jojo Malolos, PayMongo CEO, says. \u201cTogether with GoTyme, we capitalize on our shared vision for financial inclusion, leveraging our familiarity with each other to simplify financial solutions. Our streamlined, efficient, and cost-effective approach ensures our valued merchants get the resources they need to make a meaningful impact in their ecosystems. We couldn\u2019t be more excited about the opportunities this partnership creates for the business community. This is a testament to our shared commitment to innovation, efficiency, and the success of the SMEs we serve.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Through the partnership, businesses may avail of loans of up to P500,000 through GoTyme\u2019s banking services.<\/p>\n","protected":false},"author":6,"featured_media":60077,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[7398,7344,96,2727,1656],"class_list":["post-60071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","tag-gotyme-bank","tag-paymongo","tag-technology","tag-technology-adaption","tag-technology-investment"],"_links":{"self":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/60071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/comments?post=60071"}],"version-history":[{"count":0,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/60071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media\/60077"}],"wp:attachment":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media?parent=60071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/categories?post=60071"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/tags?post=60071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}