GCash Lending Unit Fuse Reaches Landmark P118 Billion Loan Disbursements

GCash Lending Unit Fuse Reaches Landmark P118 Billion Loan Disbursements

by April 8, 2024

Fuse Lending, Inc., the lending division of GCash, has just reached a sizable milestone by disbursing loans exceeding P118 billion as of the close of 2023. This is a major increase from the P50 billion disbursed in 2022, marks a notable step forward in the joint mission of Fuse and GCash to enhance financial inclusion in the Philippines.

Tony Isidro

Tony Isidro

Tony Isidro, the President and CEO of Fuse, noted the contribution of their services to increasing financial accessibility. He mentioned,

“By providing non-collateralised 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.”

In an effort to bridge the financial service gap, Fuse has targeted support towards individuals and micro, small, and medium enterprises at the grassroots level, such as farmers, sari-sari store owners, and public market vendors.

This approach is part of a wider strategy to utilise technology in making alternative financial services more accessible to all segments of the population, particularly those outside of the country’s formal banking sector.

Furthermore, the introduction of GLoan Sakto, a nano-loan product by Fuse and GCash, aims to offer a low-threshold entry into formal credit markets for Filipinos, requiring minimal documentation and simplifying the application process for loans as small as P100 to meet urgent and short-term financial needs.

The partnership between GCash and Fuse is reflective of an ongoing trend towards digital financial solutions that support economic growth by enabling businesses of all sizes to better serve the needs of their customers and staff. GCash currently has over six million partner merchants and a user base exceeding 94 million.

Through efforts to provide fair loan options and leverage fintech for frictionless lending, the initiatives undertaken by GCash and Fuse are part of their broader vision of “Finance for All,” aiming to create a more inclusive and diverse financial landscape in the Philippines.





Featured image credit: Edited from Freepik