MANILA, Philippines — PeraSure, a digital lending app operated by SEC-registered Sulit Lending Corporation, officially launched in the Philippines on August 8, offering one of the lowest interest rates in the local digital lending market alongside paperless, ID-only credit for the everyday cash-flow needs of salaried Filipinos, gig workers, and micro-entrepreneurs.
PeraSure charges a daily interest rate of 0.10%, calculated against the remaining principal so that the cost of borrowing decreases as repayments are made. Including applicable service fees, the total daily rate is 0.25%, equivalent to roughly 7.5% a month, one of the lowest all-in rates disclosed in the Philippine digital lending market and well below the SEC’s regulatory ceiling.
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% a month, or about 0.4% a day, down from the previous 15% a month. Borrowers see the full rate breakdown, applicable fees, and total repayment amount upfront, before confirming the loan, with no hidden charges and no mismatch between the advertised rate and what is actually charged, a gap that has drawn criticism elsewhere in the market.
The app also addresses a persistent gap in Philippine digital finance, where prospective borrowers are often required to provide payslips, HR letters, or other formal proof of income to qualify for a loan. Applicants need only a valid Philippine mobile number and one valid government-issued ID to apply, with no payslips or supporting documentation required. Borrowers who can provide proof of income may still submit it in-app for later credit re-evaluation, while returning borrowers who build a consistent repayment record are reassessed for higher credit limits over time.
PeraSure leverages automated decisioning and data science to assess an applicant’s identity, ability to repay, and credit risk. Most application decisions are delivered in under three minutes, with approved funds disbursed directly to the borrower’s chosen digital wallet in about five minutes.
Rather than requiring borrowers to reapply and requalify with every transaction, PeraSure is structured around a revolving credit relationship. Eligible borrowers can continue drawing on an approved credit line over time instead of starting the process from zero with each new loan, with the line itself growing as a borrower’s repayment record builds.
PeraSure said the platform is designed so that a mobile number and one valid ID are all a borrower needs to access credit that is genuinely affordable. Filipinos who work hard for their income should not have to prove it again on paper, the company said, particularly gig workers and micro-entrepreneurs who do not have standard payslips to show. Its goal, PeraSure added, is to ensure that a lack of physical documentation is never the reason someone is excluded from affordable, formal credit.
PeraSure upholds strict data privacy and security standards across its operations. Beyond its SEC registration, the company complies with the Credit Information System Act of 2008 (RA 9510) and applicable Credit Information Corporation requirements, as well as the Anti-Money Laundering Act (RA 9160, as amended), covering customer identification, due diligence, recordkeeping, and regulatory reporting. PeraSure does not access borrowers’ phone contact lists and does not contact family members, friends, or employers regarding repayment.
