Borrow up to Php125k via GLoan
The pandemic brought the country to a near-standstill
when, according to the Philippine Statistics Authority, around 7.3 million
Filipinos lost their jobs and were forced to find new means of living. However,
with openness to using digital innovations and the perseverance to bounce back,
some saw it as a turning point and a start of new beginnings.
Such is the case of Cocoy Rubio, who only had PHP700
pesos when he started his mobile bike cafe business, fresh out of being laid
off as a bartender for six years. Taking a leap of faith, Cocoy used GCash to
easily purchase supplies and enable customer payments, eventually building what
is now known as The Bike Coffee in Cagayan de Oro. Cocoy’s journey of
determination and grit is only one of the stories of the 70 million Filipinos
who use GCash, retold through the #GCashStories digital series.
Just like Rubio, many Filipinos aspire to start their own business, but are held back by the lack of starting capital. To fund their enterprise or expand their existing ventures, Filipino business owners consider seeking loans from formal lending institutions, such as traditional banks. However, a report from the Bangko Sentral ng Pilipinas (BSP) shows only 56% of Filipinos are banked or own formal bank accounts, making access to resources greatly limited.
GCash introduces easier way of borrowing cash with GLoan
Eligible GCash users who wish to avail GLoan can choose their loan amount from P1,000 to a maximum of P125,000, and receive it straight to their GCash wallet. With competitive interest rates as low as 1.59% per month for 5-24 months, GLoan provides the same credible and secure experience of loaning from banks.
To be eligible for GLoan, users must have a fully verified GCash profile and must maintain a qualified GScore, which is the app’s trust rating reflecting their GCash activity. Increasing or maintaining one’s GScore can be done by maintaining an active GCash wallet balance, regularly using different GCash services and paying dues early or on time.
Inspired by Cocoy and ready to start your biz? Sagot ka namin. Access GLoan through the GCash dashboard under “Borrow.” Download the GCash app on the App Store or Google Play now and jumpstart your dreams. Kaya Mo, I-GCash mo.
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