Fuse Lending Inc. said Monday it surpassed the P118 billion mark in life-to-date disbursed loans through the GCash app as of end-2023, empowering nearly four million Filipinos.
“By providing non-collateralized and affordable loan products such as GLoan, GCredit and GGives through the GCash app, Fuse Lending has successfully supported almost four million Filipino loan borrowers, helping millions of Filipinos achieve their financial aspirations and goals in a more convenient, easier and simpler way,” said Fuse president and chief executive Tony Isidro.
A GCash study found that nine of 10 Filipinos need to borrow money, but do not have access to formal lending institutions and banks.
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.
It said to help more Filipinos unlock their financial goals, 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.
Ordinary Filipinos can borrow as low as P100 to accommodate short-term needs or even the smallest-but-urgent expenses – all without requiring users to submit numerous documents and undergo tedious application processes.
GCash and Fuse recognize that digital financial tools and services that enable enterprises big and small to serve their customers and employees are vital for economic growth.
GCash has onboarded more than 6 million partner merchants, including key partners like Puregold and TikTok Shop. Over 49,000 stores nationwide make it possible to pay for purchases with credit (GCredit) or installment (GGives) with their GCash app. More than 94 million users have tried GCash – making it the country’s biggest digital ecosystem.
