PeraSure launches in Philippines to lend to 9.9M gig workers under tighter SEC caps

What's the deal? PeraSureDealroom has a profile for this one. Try Dealroom →, a digital lending app run by SEC-registered Sulit Lending Corporation, has launched in the Philippines to extend credit to workers with non-traditional income. Eligible users can apply with a government-issued ID and basic income details, skipping standard consumer lending paperwork.

Why now? About 9.9 million Filipinos — roughly 22% of the country's 44 million employed workers — hold gig or informal roles, according to the Philippine Statistics Authority. Standard credit checks anchored on payslips and employer documents leave many of them unable to borrow.

What's the endgame? PeraSure offers loans of up to US$975.2 with repayment terms of 30 to 180 days. It is built around a revolving credit line: borrowers can draw repeatedly and raise their limit as their repayment record builds, rather than reapplying each time.

The fine print: The launch coincides with tighter regulation. Under SEC Memorandum Circular No. 14, Series of 2025, effective April 1, 2026, combined interest and fees on qualifying small loans are capped at 12% per month, down from 15%. PeraSure charges a daily rate as low as 0.10%, well below the ceiling, and shows borrowers the full rate breakdown, fees, and total repayment upfront.

"Many hardworking Filipinos earn a living outside a regular payroll, yet lending has long been built around payslips," the company said. "We want borrowers to see exactly what they will pay, within the SEC's limits, before they confirm a loan."

The signal: PeraSure's model reflects a structural shift in the Philippine workforce toward more varied, flexible income. As informal work grows, lenders that can assess borrowers without payslips are moving to fill a gap that traditional credit leaves open. The app is now available on Google Play.

Read more: theasianbanker.com

Image credit: Beegee49