GCash Empowering Farmers, and Fisherman with Lending Solutions

In a nation where micro, small, and medium enterprises (MSMEs) make up 99.5% of businesses, ensuring equitable access to sustainable credit for Filipino #MSME owners and farmers is crucial for fostering sustainable and inclusive economic growth. #GCash

This was a key takeaway from the 2nd Philippine Climate Forum by the International Finance Corporation (IFC), held at the Ayala Museum in Makati City in June. The forum’s goal is to expedite the adoption of green lending and climate investment opportunities in the country and increase awareness of sustainability initiatives across private and public sectors.

During a panel discussion titled “Fostering Green and Inclusive Growth in the Philippines’ MSME Sector,” Tony Isidro, President and CEO of Fuse Lending, GCash’s lending arm, highlighted the financial inclusion narrative of the country’s leading finance super app.

Isidro, along with key global and local leaders from the SME Finance Forum, Sustainable Finance and Banking Network (SFBN), and IFC, was a prominent speaker at the event.

“GCash addresses these challenges by harnessing digital, data modeling, and AI technology to facilitate fair credit access and promote sustainable growth. This translates into a seamless experience where eligible merchants can avail a loan with zero documents, no waiting time. They simply need to log into the app, tap its services, and gain access to credit and loans,” stated Tony Isidro, President and CEO of Fuse Lending.

As per the Bangko Sentral ng Pilipinas, initial capital is a significant hurdle for MSMEs, with 57% of small businesses still depending on informal loans. GCash, through its comprehensive Know-Your-Customer (KYC) and lending trust rating systems, can offer quick and accessible loans for budding business owners. They can borrow up to PHP 125,000, based on their GScore, which is directly deposited into their GCash wallet, eliminating the need for extensive paperwork.

In addition to MSMEs, GCash has been instrumental in providing improved opportunities to local farmers. By partnering with Mayani and Farm Konekt, GCash offers farmers and fishermen access to non-collateralized loans and conducts financial literacy sessions to further educate local farming and fishing communities about available climate investment opportunities.

FAQs

1. What is GCash? GCash is the leading finance super app in the Philippines that provides sustainable lending solutions to MSMEs, farmers, and fisherfolk.

2. What services does GCash offer? GCash offers quick and accessible loans for aspiring business owners and farmers. It also conducts financial literacy sessions for local farming and fishing communities.

3. How can one avail of a loan from GCash? Eligible merchants can log into the GCash app, tap its services, and gain access to credit and loans with zero documents and no waiting time.

4. What is the maximum loan amount that can be borrowed from GCash? Aspiring business owners can borrow up to PHP 125,000, depending on their GScore.