GCash lending arm disburses PHP 118 billion worth of loans to unbanked Pinoys

The company said this service is part of efforts to boost financial inclusion in the Philippines.

Photo from GCash

GCash is improving access to lending institutions

Fuse Lending, Inc., the credit arm of GCash, said in a statement it has surpassed the PHP 118 billion mark in disbursed loans through the app as of the end of 2023.

By providing non-collateralized and affordable loan products such as GLoan, GCredit, and GGives through the GCash app, Fuse Lending has successfully supported almost 4 million Filipino loan borrowers, helping millions of Filipinos achieve their financial aspirations and goals in a more convenient, easier, and simpler way, said Tony Isidro, president and CEO of Fuse.

A GCash study found that nine out of 10 Filipinos need to borrow money, but do not have access to formal lending institutions and banks.

To date, Fuse said it has given access to fair lending to Filipinos from the grassroots sector, such as farmers, sari-sari store owners, public market vendors, and other micro, small, and medium enterprises.

To help more Filipinos, Fuse and GCash introduced the latest addition to their lending service offerings – GLoan Sakto, a nano-loan product that can jumpstart Filipinos’ access to formal credit. With this, ordinary Filipinos can borrow as low as PHP 100 to accommodate urgent expenses without requiring users to submit documents and undergo tedious application processes.

To boost efforts, GCash has onboarded over 6 million partner merchants, including Puregold and TikTok Shop. Over 49,000 stores nationwide accept GCredit or GGives with their GCash app.

For its part, Fuse has been doubling down to achieve its vision of providing access to fair loans through its mission of fintech-enabled lending delivered frictionlessly.

Currently, GCash has over 94 million users.