GCash, Fuse’s "Sakto Loan” allows users to easily borrow even by small amounts

GCash and Fuse Lending Inc. introduced a new feature in the e-wallet that allows users to borrow small amounts as "pambale."

GCash "Sakto Loan"

Easy access to loans for immediate needs

GCash the latest feature GCash Sakto Loans is a nano loan offer that allows users to easily borrow money "as it seeks to provide more Filipinos with access to fair, easy and inclusive loan options without the need for bureaucratic paperwork."

Based on a GCash study, nine out of 10 Filipinos have to borrow money to make ends meet. The long loan application process pushed more than half to borrow from informal lenders.

Through Sakto Loans, GCash and Fuse hope to expand its vision of making financial services more accessible to Filipinos, including the unbanked.

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 phones. 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.

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, Martha Sazon, CEO of GCash, underscored.

GCash said Sakto Loans is an entry-level loan for those who are not yet eligible to borrow larger amounts on the app but are in need of small amounts to supplement their budget.

This is an extension of GLoan, GCash’s instant cash loan, and GGives, its light and flexible buy now pay later loan, the company said.

With a processing fee of as low as PHP 6.50, users may borrow amounts as small as PHP 100 up to PHP 1,000 at zero interest, which could be paid either after 14 or 30 days, GCash noted.

With its borrowing solutions, GCash said it hopes to level the playing field and provide equal opportunities for every Filipino.

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 also said.

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