Restoring dignity in borrowing: Fuse Financing on breaking credit barriers for small businesses at AgriVerse 2025

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Fuse Financing, Inc., the lending arm of GCash, led a discussion on fair borrowing options for Filipino micro-retailers and agri-entrepreneurs at the recently concluded Agriverse Summit 2025 held in Pasay City. The event brought together agripreneurs, government officials, innovators, and small business owners to explore how technology can support business growth, boost agricultural productivity, and promote sustainable farming.

L-R) PARJV Grosolutions co-founder and Pamantasan ng Cabuyao VP planning, research and extension Dr. Jessica Domingo Rey; GCash VP and head of corporate communications and public affairs Gilda Maquilan; Philippine Association of Stores and Carinderia Owners founding and national president Ms. Elilyn S. Gadia; Fuse Financing Inc. chief product officer and strategy head Baby Aquino; and ASBF Philippines founding trustee and president Ms. Arlene Padua-Martinez

Organized by the Asia Small Business Federation (ASBF) and Philippine Association of Stores and Cardinderia Owners (PASCO), Fuse Financing chief product officer and strategy head Baby Aquino highlighted the company's commitment to restoring dignity and fairness to borrowing for the Filipino micro-retail and agricultural sector.

In a fireside chat "Digital Wallets, Local Markets: Unlocking Growth for Micro-Retail and Agribusiness," Aquino also shared how Fuse is redefining access to finance through digital technology. The company replaces exploitative informal lending with fast, fair, and transparent credit products that can be accessed real time, anytime, anywhere, through a mobile phone via your GCash e-wallet.

Fuse’s innovation lies in its end-to-end digital process. By using data-driven credit assessment and digital collection tools, the lender removes the need for physical documents or in-person applications. This allows MSMEs to access funds within minutes, validating what Aquino describes as "true empowerment."

As of the second quarter of 2025, Fuse has extended credit to 9.5 million Filipinos and disbursed P287 billion in loans. Fuse is able to extend credit to segments underserved by traditional institutions such as MSMEs and women, with one in three are small business owners and three in five borrowers are women while four out of five are from the masses (SEC C2DE), underscoring the company’s wide reach and deep impact on inclusion.

The lender’s suite of products is designed to meet the different financing needs of small entrepreneurs. GLoan offers larger cash loans for business owners of up to P350,000, to support their business capital and growth, while GLoan Sakto, a sachet-type loan, enables eligible customers to borrow for as low as Php 100- an ideal option for the regular customers or the “sukis” of sari-sari stores, instead of them constantly borrowing from sari-sari store owners. This also relieves them of the hassle of collecting those small loans owners. Often used as “pambale,” borrowing even as small as P100 can give customers who were traditionally sidelined by formal credit institutions, an opportunity to build a formal credit history. This approach helps everyday Filipinos transition from informal borrowing toward long-term, sustainable growth.

Aquino emphasized that Fuse’s mission is to make formal lending accessible to every Filipino entrepreneur. "’Yung philosophy kasi talaga ng GCash is to allow Filipinos to borrow with dignity. Dapat ‘yong mga produkto namin ay klaro, fair, and transparent. (GCash operates on a philosophy that aims to allow Filipinos to borrow with dignity. Our products are clear, fair, [and] transparent),” she said.

Aquino concluded that the future of small businesses in the Philippines, especially in the agri-tech sector, depends on three essentials: access to finance, access to markets, and access to technology. Through digital innovation, Fuse and GCash aim to make these opportunities available to every Filipino entrepreneur.

For more information, please visit www.gcash.com.

Fuse Financing highlights importance of partnerships in scaling credit access to the unbanked

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Fuse Financing, Inc., the lending arm of the Philippines’ leading finance super app and largest cashless ecosystem GCash, underscored the importance of innovative financing structures at the 5th Asia Finance Forum, hosted by the Asian Development Bank (ADB) at its headquarters in Manila.

The forum highlighted a critical industry pain point: fintech companies face capital constraints that limit their ability to scale, as traditional debt markets remain restrictive. This bottleneck slows progress in extending credit to the underbanked and unbanked, ultimately curbing economic inclusion.

Addressing this challenge, Gabby Lacuesta, chief financial officer of Fuse, joined the panel discussion “Financing Growth: Unlocking Co-Lending, Capital Markets & Risk-Sharing for Fintechs.” Moderated by Apurva Kumar, senior investment specialist at ADB, the session also featured Irem Sayeed, chief risk officer at UGRO Capital; Fernanda Lima, partner at LeapFrog; and Luke Boland, head of Fintech Asia at Standard Chartered Bank.

The panel discussion underscored how co-lending and off-book funding partnerships create a synergistic relationship between fintechs and banks. Through the model, banks gain a vital deployment channel that reaches underserved customers, while fintechs like Fuse are able to cycle capital more quickly and extend their market reach. Fuse leverages the GCash ecosystem, which serves eight out of ten Filipinos, as a foundation to connect partner institutions with communities often excluded from traditional lending systems.

Lacuesta highlighted that building confidence across the entire lending process is the key to unlocking funding partnerships. "For GCash, the essential unlock was demonstrating to our partners that the end-to-end system—from acquisition and underwriting to collections and recoveries—is consistently effective, reliable, and working really well," he said.

The panelists also discussed the dynamic balance between on- and off-balance sheet lending, which shifts with market conditions and investor appetite. In practice, this balance ensures lending remains both sustainable and responsive to economic realities.

Beyond credit risk, the conversation emphasized operational and strategic risks, particularly in an environment where fintech platforms manage sensitive data at massive scale. With the reach of GCash extending to most of the country’s population, protecting customer information is a central priority and one of the most salient operational risks in digital lending. Managing these risks effectively ensures that co-lending models remain viable, efficient, and trusted.

Reflecting on Fuse’s trajectory, Lacuesta highlighted the importance of financial discipline in pursuing growth. “Where we are now would not have been possible without the different avenues for funding that we raised and developed along the way, including off-book lending,” he said. “For GCash, the experience has been really about balance.”

The Asia Finance Forum’s theme, “Bridging Financial Technology, Trust, and Regulation,” provided an essential venue to discuss regulatory frameworks that enable sustainable co-lending and other innovative financing structures. Regulators broadly support these models because of their potential to efficiently channel capital to the real economy, particularly underserved markets such as small businesses and low-income households.

By advancing co-lending and other innovative models, Fuse is committed to expanding opportunities for Filipinos and strengthening financial inclusion in Asia’s fast-growing economies.

For more information, please visit www.gcash.com.