GCash lending grows as it taps Pinoys unreached by banks

MANILA - GCash said its lending services remain robust, defying a general slowdown in bank lending. 

The Ayala-led fintech said this is because it is tapping into the larger market of Filipinos who are not able to access loans from banks. 

"We cater to customers who before had no access to fair lending options," said Tony Isidro, CEO of GCash unit Fuse Lending Inc.

The fintech has also expanded its loan offerings, covering big-time expenses like tuition and hospital bills, gadget purchases, to 'pantawid' nano-loans as small as P100 for people who just need something to tide them over. 

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"I think the Filipino word captures it better, for "pambale" for something as basic as buying rice for instance, for food on the table for the family," Isidro said.

Aside from covering expenses, GCash customers have also been borrowing money to finance small businesses.

GLoans are used by customers for one-time big expenses like tuition or hospital bills

"We're also quite happy that around 35 percent of GLoan customers are actually micro and small entrepreneurs who use for additional capital for their business," Isidro said. 

The interest rate on loans depends on the GScore of the customer, ranging from 1 to 6 percent per month. 

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something as basic as buying rice for the family

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