When daily emergencies put us in a bind, it is nice to know that we can easily find a helping hand. This is how financial super app GCash wants to position itself among the Filipino people. Together with Fuse Lending Inc., the company introduces the GCash Sakto Loans. This nano loan offer enables GCash users to easily borrow small amounts like a ‘pambale,’ as it seeks to provide more Filipinos with access to fair, easy, and inclusive loan options without the need for bureaucratic paperwork.

Filipino Spending Habits and Behaviors

A GCash study found that nine out of 10 Filipinos have to borrow money regularly to make ends meet.
But with the rigorous loan application process set by formal institutions and banks, more than half of them resort to borrowing from informal lenders, enduring high-interest rates and sometimes abusive
collection practices.

“Sakto Loans serves as an expansion of our suite of lending options GLoan, GCredit, and GGives, which has provided users with a convenient way to borrow money with just a few taps on their phone. 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.

GCash x Fuse: Borrow for Tomorrow

During the GCash x Fuse: Borrow for Tomorrow, an immersive product showcase held at the Maybank Performing Arts Theater last August 30, GCash officially introduced Fuse as its lending arm.

Martha Sazon, CEO of GCash, opens Borrow for Tomorrow, with stories of financial progress spurred by GCash.

“We at GCash take great pride in the fact that our story and our success are written and rooted on the ground. We are deeply connected to all our customers. 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,” Sazon underscored.

Meanwhile, Isidro officially introduces the lending arm and its mission of making fair loans accessible.

GCash Sakto Loans

The new GCash Sakto Loans is an extension of GLoan — GCash’s instant cash loan, and GGives, the light
and flexible buy now pay later loan.

With no additional requirements needed, GCash Sakto Loans serve as entry-level loans. This is for those who are not yet eligible to borrow larger amounts on the app but are in need of small amounts to supplement their family budget.

With a processing fee as low as PHP 6.50, GCash users may borrow amounts as small as PHP 100 up to PHP 1000 at zero interest, which could be paid either after 14 or 30 days.

“Sakto Loans offer an added comprehensiveness to our already extensive product lineup. In instances where we only need a small amount to get by, this nano-loan feature will save us the time and energy of having to borrow from family and friends or even informal lenders,” Isidro emphasized.

Inclusivity through fair and easy loans

With its borrowing solutions, GCash hopes to level the playing field and provide equal opportunities for every Filipino. Its vision of bringing financial progress to everyone can be seen in the 85% of GCash users who come from C2DE or lower socio-economic classes, the 55% who are female, 60% come from the youth ages 19-35 years old, and the 70% who are based outside Metro Manila.

While there is still a stigma when it comes to loans, GCash hopes to highlight that borrowing money is one way of bringing Filipinos closer to their goals.

Since 2016, Fuse has disbursed PHP 100 billion in loans and has helped over 3 million Filipinos achieve their dreams. With the inclusion of a nano-loan offer in its extensive lineup of lending products, GCash and Fuse hope to expand its vision of making financial services more accessible to Filipinos, including the unbanked.

“We are committed to perfecting our lending solutions because we believe that Filipinos deserve better loan options,” Isidro noted. “And we are grateful that in the course of helping borrowers nationwide, we have also grown three times more than we did in 2022.”

GCash Sakto Loans Designed for Your ‘Sakto’ Needs

“We’re reimagining lending to ensure that it is not only hassle-free and convenient, but is also driven by the individual circumstances of our user base. By putting their stories at our core, we hope to break down barriers so that Filipinos can access the loans that they need to support financial progress,” Sazon added.

Users may access GGives, GLoan, and GCredit through the GCash dashboard or find them under “Borrow.”

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