GCash, Fuse Lending expand lending portfolio with Sakto Loan offers
The financial superapp introduces Sakto Loan, an option for users to borrow small amounts of as low as PHP 100 Financial super app GCash, together with Fuse Lending Inc., introduces GCash Sakto Loans, a nano loan offer that enables GCash users to easily borrow small amounts as ‘pambale,’ as it seeks to provide more Filipinos with access to fair, easy and inclusive loan options without the need for bureaucratic paperwork. A GCash study found that nine out of 10 Filipinos have to borrow money to make ends meet. But with the rigorous loan application process set by formal institutions and banks, more than half resort to borrowing from informal lenders with 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 […]
