GCash, in partnership with Fuse Lending Inc., has introduced GCash Sakto Loans, a small loan option designed to help Filipinos access fair and easy loans.
A GCash study revealed that many Filipinos need to borrow money for various expenses but often turn to informal lenders due to the difficulties associated with traditional institutions and banks.
“We are deeply connected to all our customers,” said Martha Sazon, CEO of GCash. “We know them, we seek to understand their circumstances, and we are right there with them, providing digital solutions that ease the challenges of daily life.”
GCash Sakto Loans is an addition to the existing lending options like GLoan, GCredit, and GGives, allowing users to borrow small amounts easily. This initiative aims to prioritize the borrowing needs of Filipinos and simplify the loan application process.
“Through access to fair lending, we are able to provide more Filipinos access to borrowing means that truly prioritizes their needs,” said Tony Isidro, CEO of Fuse.
With over P100 billion in loans disbursed since 2016, Fuse has helped millions of Filipinos achieve their dreams. By adding a nano-loan option, GCash and Fuse aim to make financial services more accessible to the unbanked population.
GCash Sakto Loans, an extension of GLoan and GGives, serves as an entry-level loan for users who need small amounts to supplement their budget.
It has a low processing fee of P6.50 and allows users to borrow between P100 and P1,000 at 0 interest, with repayment options available after 14 or 30 days.
GCash is committed to inclusivity and aims to provide equal opportunities to Filipinos from various socio-economic backgrounds, genders, age groups, and regions. The fintech app believes that borrowing money can bring individuals closer to their financial goals and want to break down barriers associated with loans.
To access GGives, GLoan, and GCredit, users can use the GCash dashboard or find them under the “Borrow” section. If you don’t have GCash yet, you can download the app from the Apple App Store, Google Play Store, or Huawei App Gallery.