Pera Agad offers a unique and pioneering loan service for amounts of up to Ten Thousand Pesos (₱10,000) and targets predominantly the unbanked and underserved population in the Philippines. The loan process is fully digital and provides Smart Prepaid and TNT subscribers access to financial services, including those who have not previously borrowed from a financial institution.

Pera Agad, an instant cash loan by Cash Credit, now in Cebu

Cash Credit, a financial technology and lending company providing services to individuals and micro entrepreneurs, together with FINTQnologies, Inc. (FINTQ), the financial technology arm of PLDT and Smart’s Voyager Innovations, launched its internationally recognized and award-winning loan service, Pera Agad, to Cebu market.

Cash Credit has established a partnership with FINTQ in the Philippines in order to provide an accessible alternative for financially excluded individuals.

The service uses Cash Credit’s proprietary machine learning algorithm to assess the credit-worthless of participants who opted-in based on their mobile consumption history and behavior. This unique approach has been successfully tested and launched on three continents across the globe in partnership with mobile operators, in Europe, Africa, and Southeast Asia.

The local brand of the service is Pera Agad and it is delivered to the market online and via mobile. Approved loans can be cashed out through selected partner outlets of Smart Padala.

After its successful launch in Metro Manila and South Luzon, Pera Agad is extending its services in Cebu, offering Cebuanos a convenient and transparent cash loan service.

Pera Agad loans will benefit micro-and-small enterprises and individuals who need cash fast. Applying for a loan is done digitally and approved within minutes. To avail of the service, borrowers who are of legal age need to present a valid government-issued ID. They also have to be a Smart Prepaid and TNT subscriber for at least 6 months.

Customers may begin applying for a loan via mobile or at www.peraagad.ph and collect the loan amount in selected Smart Padala Centers around Cebu once approved. Repayment of the loan is very convenient with a long list of partners that include 7-Eleven, Cebuana Lhuiller, Bayad Center, among others.

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The service will be fully rolled-out nationwide by the end of the year and more financial services will be offered in cooperation with FINTQ and its partners.