GCash and Fuse Lending know what millions of Filipino families and struggling entrepreneurs go through, especially during times when payday seems like an eternity away. They’ve made borrowing easier and faster with several lending products accessible through the GCash app.
The country’s leading finance “superapp” doesn’t only allow you to give and receive money as well as pay for bills and other online purchases. It now allows its countless users more ways to quickly and easily borrow money as well.
GCash shared in GCash x Fuse: “Borrow for Tomorrow,” an immersive product showcase held recently at Maybank Performing Arts Theater. Anchored by its goal of financial progress for all, GCash, together with its lending arm Fuse Lending Inc., reintroduces its lending products GLoan, GGives and GCredit and shares its latest extension: the GCash Sakto Loans, a nano-loan that enables GCash users to easily borrow small amounts.
Staged by Yaparrazi Events and written by Cathy Azanza-Dy, “Borrow for Tomorrow” showcased stories of everyday Filipinos, set in Barangay Pag-Asa. The stage draws inspiration from the vibrant and colorful elements of a typical Filipino neighborhood – where dreams, big and small, are made.
“With everyday Filipino stories at the core of our interactive product showcase, we draw inspiration from two concepts that are uniquely Pinoy. While the idea of ‘tingi’ is often seen as taking small portions needed for the moment, we recognize that even these smallest ways of support can help fuel the biggest of dreams,” said Tony Isidro, CEO of Fuse. “All these, coupled with our innate characteristic of bayanihan, help us champion collective strength in reaching dreams. It is through these distinct similarities that we are able to come together as a nation and weave stories of progress.”
In their humble and cozy home, supportive mother Mila wonders how she could replace her son’s charger-dependent laptop without having to use up her savings. For bigger purchases, GCash offers GGives, its light and flexible installment plan which allows eligible users to purchase big-ticket items amounting up to P125,000 and pay for it in up to 24 months. With zero downpayment and zero additional documents needed, hardworking parents like Mila will be able to upgrade their lives without breaking their budget.
Outside, breadwinner and side hustler Rowena has yet to receive her salary and commission and is looking for a “pantawid” – extra money to tide her over until the next payday — so she could pay off her utility bills and buy groceries. GCredit, powered by CIMB, is an always-ready credit line of up to P 50,000, which can be used as a “bridge mone” not only during times of need, but also during everyday emergencies. Through its easy application process, easy interest of as low as five percent per month and easy payment terms, breadwinners like Rowena can seamlessly pay for utility bills and groceries to cover everyday expenses.
Carinderia owner Teresa and delivery rider Isko dream of finally having enough capital to level up Aling Teresa’s Cafe. For aspiring entrepreneurs and small business owners, GLoan offers instant cash up to P125,000 straight to eligible users’ GCash wallets, which can be used as “pampuhunan” (working capital) for starting or expanding a business, from upgrading equipment to upskilling
Meanwhile, at the sari-sari store, Lito needs to borrow two kilos of malagkit rice, hoping that his friend Inday will let him off the hook yet again. Like Lito, a lot of Filipinos still have to look for “pambale” – an advance or credit extension — when their budget gets tight, but feel ashamed of having to do so out of the fear of being judged. Not everyone is also lucky to have work colleagues, friends and family who could lend them money. Through GCash Sakto Loans, GCash offers users a convenient option to borrow small amounts which they can use to get cash or pay for any of their GCash transactions, whether online or offline.
Nine out of 10 Filipinos borrow money, but loans still remain a taboo, with most individuals feeling ashamed about being perceived as unable to stick to their budget or being a burden to other people. Fuse understands that borrowing money is a reality of life and more Filipinos need access to fair, easy and inclusive loan options, which is why it has helped over three million Filipinos achieve their dreams by disbursing over P 100 billion in loans since 2016.
“We believe that Filipinos deserve better access to fair loans to help them realize their dreams faster. At Fuse, we want to make borrowing money less complicated so they could spend their resources fulfilling their goals, big or small,” says Isidro. “We do this by providing them with lending products with zero hassle from application to disbursement and payment, zero additional documents, zero waiting time for eligible customers and zero interest for select popular offline and online stores.”
With the addition of GCash Sakto Loans to its extensive lineup of lending products fit for different needs, GCash and Fuse hope to further reduce the stigma around borrowing, as users no longer need to feel ashamed about having to look for “pambale.”
GLoan Sakto and GGives Sakto allow users to borrow money as low as P 100 up to P 1,000 with a 15 percent processing fee and no interest, and pay for it either on the 15th or at the end of the month. Sakto Loans serve as an entry or buena mano loan for those who are not yet eligible to borrow through GLoan and GGives.
Like how the characters go out of their way to help each other get through their day-to-day needs and fulfill their bigger dreams, Borrow for Tomorrow magnifies the indomitable spirit of Filipino bayanihan. GCash and Fuse hope to be there for all the Milas, Rowenas, Teresas, Iskos and Litos, giving them the extra boost they need so they can upgrade their lives, get through day-to-day expenses and fulfill their dreams.
Users may access GGives, GLoan and GCredit through the GCash dashboard or find it under “Borrow.” Download the GCash App on the Apple App Store, Google Play Store, or Huawei App Gallery.
