To further expand its line of lending products in the app and to make it more accessible to all of its users, GCash and Fuse Lending introduces Sakto Loans. It is nano loan product that enables users to borrow small amounts as “pambale” and having easy access to it without the need for unnecessary paperwork.
“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 phone. Through access to fair lending, we are able to provide more Filipinos access to borrowing means that truly prioritizes their needs,” Fuse CEO Tony Isidro said.
Compared to the regular GLoan, GLoan Sakto lets you borrow anywhere between Php 100 to 500, and is payable in 14 days or 30 days with one-time payment. It’s also more accessible, as GLoan Sakto has 0% interest and has a lower processing fee that ranges between Php 6.5 to Php 75 depending on the amount borrowed.
“Sakto Loans offer an added comprehensiveness to our already extensive product lineup. In instances where we only need a small amount to get by, this nano-loan feature will save us the time and energy of having to borrow from family and friends or even informal lenders,” Isidro emphasized.
With the introduction of Sakto Loan, GCash topes to level the playing field and provide equal opportunities for every Filipino–especially since around 85% of GCash users come from the C2DE or lower socio-economic classes.
“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,” GCash CEO Martha Sazon said.
Visit here to know more about GLoan Sakto and its eligiblity requirements.