Cashalo: Company Overview and Its Geographic Focus
Cashalo, operating under the legal entity Paloo Financing, Inc., stands as a notable digital lending provider in the Southeast Asian financial technology sector. Established in 2017, it emerged from a joint venture between JG Summit Holdings, Inc. and Oriente (Hong Kong), now privately held under Empower Finance, Inc. The company's core mission revolves around providing accessible micro-loans and financial services to underserved, unbanked, and underbanked individuals. This is primarily achieved through its user-friendly mobile application and website, leveraging sophisticated, proprietary credit-scoring algorithms that analyze alternative data points for rapid loan decisions.
It is paramount for residents of Singapore to understand a critical distinction: Cashalo's operations, licensing, and product offerings are exclusively focused on the Philippines market. The company does not currently hold any license to operate nor does it offer its financial services within Singapore. This means that individuals residing in Singapore, regardless of their nationality, cannot directly apply for or avail themselves of Cashalo's loan products within Singapore's jurisdiction. Any references to loan amounts, interest rates, terms, or application processes in this article are specific to the Philippine market and its regulatory environment, distinct from the Monetary Authority of Singapore (MAS) regulated landscape.
Key executives leading Cashalo include President Luke Stidham, General Manager Hamilton Angluben, and Head of Sales Gerard Betita, steering the company's strategic direction and operational growth within its defined market. Despite its significant presence and impact on financial inclusion in the Philippines, its geographic reach remains limited to that country, which is a vital piece of information for anyone in Singapore researching digital lending options.
Loan Products, Services, and Financial Specifics (Philippines Market)
For a comprehensive understanding, we will detail Cashalo's financial products and their specific terms as offered to eligible borrowers within the Philippines. These offerings are not available in Singapore.
Loan Products
- Cash Loan (Personal Loan): This is a straightforward personal loan product allowing borrowers to access funds for various needs. Loan amounts typically range from ₱1,000 (approximately USD 18) up to ₱25,000 (approximately USD 448).
- Lazada Loan: This specialized product provides a top-up facility specifically for purchases made through the Lazada Wallet, catering to the growing e-commerce landscape in the Philippines.
- PayLater (Flexible Credit Line): Acting as a revolving credit line, PayLater enables users to make online and offline purchases on credit, offering flexibility in managing expenses and payments.
Loan Amounts and Terms
The minimum loan amount offered by Cashalo is ₱1,000, while the maximum is capped at ₱25,000. Repayment periods are designed to be short-to-medium term, with a minimum term of 61 days and a maximum term extending up to 180 days. These terms are typical for micro-lending platforms in the Philippines, reflecting the target market's needs for quick, short-term financial solutions.
Interest Rates and Fees
Cashalo maintains a transparent fee structure without any upfront deductions or "kaltas," meaning borrowers receive the full approved loan amount. The maximum Annual Percentage Rate (APR) applied to Cashalo loans is 36% per annum, for terms up to 12 months, although their typical terms are shorter. The effective daily interest rate is approximately 0.5%. For instance, a ₱10,000 loan at 36% APR repaid over 61 days would result in a total repayment of approximately ₱10,601.64. It is important to note that late-payment interest will apply to missed due dates, calculated on the principal amount. The company also emphasizes that it does not require collateral or reference individuals for loan applications.
Application Process, Mobile App, and Regulatory Standing
The operational aspects of Cashalo, from application to regulatory oversight, are tailored to the Philippine context. This section outlines these processes and statuses, which are not applicable for individuals seeking loans in Singapore.
Application Channels and Process
Cashalo's primary application channels are its mobile application, available on both iOS (App Store) and Android (Google Play), and its website portal. The company does not operate any physical branches. The application process is entirely digital, emphasizing convenience and speed. To apply, individuals in the Philippines are typically required to provide one valid government-issued identification document. Digital identity verification and address confirmation are conducted directly through the app. Cashalo utilizes proprietary machine learning models to assess creditworthiness, analyzing over 250 real-time financial signals and, with user consent, alternative data such as messaging patterns. This allows for instant or near-instant approval decisions. Approved funds are disbursed rapidly, often within 24 hours, through bank transfers to nominated accounts or e-wallet transfers (e.g., GCash, Maya).
Mobile App Features and User Experience
The Cashalo mobile app is central to its service delivery. It boasts features such as instant approval notifications, comprehensive loan tracking, and credit-line management for its PayLater service. The app aims to provide a seamless and intuitive user experience. On the App Store, it maintains a rating of approximately 4.2 stars, requiring iOS 16.0 or later. While many users praise the speed of approvals and the clarity of fees, some common complaints revolve around customer service responsiveness and, in cases of delinquency, the intensity of collection efforts.
Regulatory Status and Compliance (Philippines)
Cashalo is a fully registered and regulated financing company in the Philippines. It holds SEC Registration No. CS201800209 and Certificate of Authority No. 1162. Its operations are overseen by the Philippine Securities and Exchange Commission (SEC). Furthermore, Cashalo adheres to data privacy regulations set forth by the National Privacy Commission (NPC) and reports borrower standing to the Credit Information Corporation (CIC), which is the country's central credit registry. As of early 2025, there have been no publicly known penalties or enforcement actions against Cashalo. The company is committed to transparent pricing and responsible lending practices as per SEC guidelines, ensuring consumer protection within its operating jurisdiction.
Market Position, Competitors, and Advice for Singaporean Residents
Cashalo has carved a significant niche in the Philippine micro-lending sector. Its competitive edge lies in its focus on micro-loans, instant e-wallet disbursement options, and relatively low entry requirements for unbanked and underbanked populations. Major competitors in the Philippines include other digital financial service providers like Tonik Bank, Maya, and BillEase. Cashalo has disbursed nearly 5 million loans to Filipino customers, primarily targeting urban and rural workers and small-business owners, signifying its substantial market share and growth potential. The company recently secured a USD 75 million credit facility from Community Investment Management to further scale its operations. It also engages in partnerships with e-wallets and retail merchants to expand its PayLater service.
Practical Advice for Potential Borrowers in Singapore
For individuals residing in Singapore, it is imperative to reiterate that Cashalo is not a licensed financial institution in Singapore and does not offer its services here. Therefore, any attempts by Singaporean residents to apply for loans through Cashalo will be unsuccessful, as the platform is designed exclusively for the Philippine market and its citizens. If you are a Filipino citizen residing in Singapore and seeking financial services from a Philippine-based lender, you would need to meet all residency and eligibility criteria as if you were physically in the Philippines, which is often impractical or impossible for those living abroad.
If you are a Singaporean resident in need of financial assistance, you must seek licensed and regulated financial services within Singapore. This includes traditional banks, licensed moneylenders regulated by the Registry of Moneylenders under the Ministry of Law, or other financial technology companies approved by the Monetary Authority of Singapore (MAS). Always verify a company's licensing status before engaging in any financial transaction. Lending platforms operating without a valid license in Singapore are illegal and should be avoided at all costs, as they often engage in predatory practices and offer no regulatory protection.
When considering any loan in Singapore, always compare interest rates, fees, repayment terms, and customer reviews from multiple licensed providers. Be wary of unsolicited offers or platforms claiming to offer quick, easy loans without stringent checks, as these are often red flags for illegitimate operations. Your best course of action is to approach reputable institutions known to comply with Singapore's robust financial regulations, ensuring your financial well-being and legal protection.
