TikTok has joined forces with digital bank GoTyme to launch TikTok Shop Loans, a new financing program aimed at helping Filipino micro, small, and medium enterprises (MSMEs) get quick and easy access to funds.
The program, announced recently, provides pre-approved loans to eligible sellers in just minutes, with the money arriving in their accounts in as fast as one day. The loan amounts are based on the seller’s transaction history on TikTok Shop, making the approval process faster and more efficient.
Sellers can select their desired amount and repayment terms, with flexible options to pay through bank transfers or QR PH in installments.
Franco Aligaen, marketing lead for TikTok Shop Philippines, said TikTok Shop is committed to supporting Filipino MSMEs through social commerce. With TikTok Shop Loans powered by GoTyme Bank, they’re making it easier for small businesses to grow sustainably in the digital economy.
The initiative tackles a common problem for small businesses in the Philippines: difficulty in securing loans. By offering a faster alternative to traditional bank loans, TikTok Shop Loans aims to help sellers restock inventory and expand their operations without long waiting times.