Online loans are easy to access—but legitimacy is not always easy to spot. In the Philippines, the Securities and Exchange Commission (SEC) is the primary regulator for lending companies and financing companies, including those offering loans through online lending platforms (OLPs). Checking “SEC registration” is one of the most important due-diligence steps before you share personal data, grant app permissions, or sign a loan contract.

This article explains what “SEC-registered” really means, what documents and details to look for, how to verify them, and how to interpret what you find.

1) What “SEC-Registered” Really Means (and Why It’s Often Confused)

People say “SEC-registered” in at least three different ways. Only one of them, by itself, is never enough.

A. SEC registration as a business entity (corporate existence)

A company can be registered with the SEC as a corporation (it exists as a legal entity). This is the baseline for many businesses.

But: A corporation can be SEC-registered and still not be authorized to operate as a lending/financing company.

B. SEC authority to operate as a lending/financing company (permission to lend as a business)

Under Philippine law, a lending company and a financing company generally need SEC authority to operate as such (commonly referred to as a Certificate of Authority or similar SEC-issued authority).

This is the key check for whether the entity is allowed to conduct lending/financing as a regulated financial business.

C. SEC registration/recognition of the online lending platform (OLP) the company uses

If the loan is offered through a website/app/platform, the SEC has required additional registration/notification/requirements for online lending platforms used by lending and financing companies.

Bottom line: A legitimate lending app setup typically involves (1) a real SEC-registered corporate entity and (2) valid authority to operate as a lending/financing company and (3) compliance for the online platform it uses.

2) Who Should Be SEC-Registered (and Who Might Not Be)

Usually under SEC (the main focus of this article)

Lending Companies (generally governed by the Lending Company Regulation Act of 2007 / RA 9474)
Financing Companies (generally governed by the Financing Company Act of 1998 / RA 8556)
Those offering loans via apps/websites as online lending platforms (subject to SEC rules/issuances)

Entities that may offer “loans” but are primarily regulated elsewhere

You should avoid “false negatives” by knowing that not every lender is primarily “SEC-regulated as a lending company.”

Banks, digital banks, and many BSP-supervised financial institutions → primarily under the Bangko Sentral ng Pilipinas (BSP) (though many are still SEC-registered corporations, their lending authority is not the SEC “certificate of authority” for lending companies).
Cooperatives → primarily registered/supervised by the Cooperative Development Authority (CDA).
Pawnshops → commonly associated with BSP oversight and other regulatory requirements.
Informal lenders → may be illegal/unregulated (high risk).

So the first step is always identifying what the lender actually is (lending company? financing company? bank? cooperative?).

3) Information You Must Get First (Before You Can Verify Anything)

A lending app’s brand name is often not the legal entity. To verify SEC registration, you need the real name and identifiers.

Minimum details to obtain from the company/app

Exact registered corporate name (including “Inc.” / “Corporation”)
SEC registration number (or company identification number)
Type of entity: lending company or financing company (or bank/cooperative)
Certificate/Authority to Operate details (number and validity period/expiry, if shown)
Registered principal office address (not just a Facebook page)
Official contact channels (email/landline/office details)
For apps: the legal entity named in the Terms & Conditions / Loan Agreement / Privacy Policy (this is often the “true” operator)

Where to find these in a lending app

App store listing → “Developer” / “Offered by” / company name
In-app “About,” “Company,” “Regulatory,” or “Disclosures” section
Loan contract / promissory note shown before you accept
Terms & Conditions and Privacy Policy pages
Official receipts/invoices (if issued)

Red flag right away: The app refuses to disclose the legal entity behind it, or only provides a trade name with no corporate identifiers.

4) Step-by-Step: How to Check SEC Registration (Corporate Existence)

Step 1: Search the company in the SEC’s public company records

The SEC maintains searchable records of registered corporations. Depending on what is currently available, this may be through the SEC’s online search/verification services or through formal document request channels.

What you’re looking for:

Exact name match (watch punctuation and “Inc.”)
Company status (e.g., active, dissolved, delinquent—terminology varies)
Registration/incorporation details
Principal office address

Step 2: If online search is limited, request SEC documents

If you cannot confidently verify through public search results, the stronger method is to obtain SEC-issued documents through official SEC channels (often available as certified true copies or official certifications), such as:

Certificate of Incorporation / Registration
Articles of Incorporation and By-Laws
Latest General Information Sheet (GIS)
SEC certification of company status/existence (naming varies)

Why this matters: Forged “SEC certificates” are common in scams. Official SEC-issued copies reduce that risk.

5) Step-by-Step: How to Check if It’s Authorized to Lend (Certificate of Authority)

A corporation being “registered” does not automatically mean it can legally operate as a lending/financing company.

For lending companies and financing companies, verify the authority to operate

Ask for a copy of the SEC-issued authority (commonly called a Certificate of Authority to Operate or similar). Then verify, through SEC channels, at least the following:

The exact corporate name on the authority matches what’s in the SEC corporate registration
The authority indicates it is for lending company or financing company
The authority is currently valid (many regulatory authorizations are time-bound and require renewal/continuing compliance)
The authority is issued by the SEC (not “DTI,” not “Mayor’s permit,” not “BIR”)

Important: “DTI registered” is not a substitute

DTI registration (sole proprietorship/trade name) and local business permits are not the same as SEC authority to operate as a lending company. A lender may show:

DTI certificate
Mayor’s permit
Barangay clearance
BIR registration

These documents can exist even when the entity is not authorized as a regulated lending/financing company.

6) Step-by-Step: How to Check if a Lending App/Platform Is Properly Registered/Disclosed (OLP Compliance)

Even if the company is legitimate, the platform used to solicit loans can still be problematic.

Identify the platform details

Collect the platform identifiers:

App name(s)
Developer name
Website domain(s)
Social media pages used for solicitation
Customer service numbers/emails
Any affiliate/agent pages

Match platform disclosures to the registered company

Cross-check that:

The entity in the loan agreement is the same entity advertising in the app
The app’s “developer” or operator is not a different unknown entity
The company does not appear to be “renting” a registered company’s name while a different group operates the platform

Warning signs for apps

Multiple apps using the same scripts, same contacts, same collections tactics, but different “company names”
The contract names one company, while the app store lists another operator
The lender says: “We are registered under another company” but cannot document the relationship (e.g., authorized agent agreement, platform registration, disclosures)

7) How to Interpret What You Find

If you find the company in SEC corporate records, but no lending/financing authority

This often means one of the following:

It’s a normal corporation not authorized to operate as a lending/financing company
It is authorized but the proof is missing/unclear (you still need to verify authority)
It is operating illegally or outside its permitted business

If the company name is not found at all

Common explanations:

You have the trade name/app name, not the corporate name
Spelling/format differences (try exact punctuation and suffixes)
It is not registered (high risk)

If the authority is expired/suspended/revoked

Treat the lender as high risk until you can confirm current authority and status.

8) A Practical Verification Checklist (Quick but Strong)

A. Identity and paperwork

Full corporate name (exact spelling) is disclosed
SEC registration number is disclosed
Principal office address is disclosed
Loan contract names the same entity as the app’s operator

B. Authority to operate

Company can show an SEC authority to operate as a lending/financing company
The authority appears current (validity period/renewal)
Authority details can be validated through SEC channels

C. Platform integrity (for apps)

App developer/operator matches the lending/financing company in the contract
App/website domain and brand used for solicitation are consistent with disclosures
No “bait-and-switch” between app name and contracting entity

D. Data and collection conduct (legitimacy doesn’t equal fair behavior)

App permissions are proportionate (excessive access is a red flag)
Privacy Policy clearly states data use and sharing (Data Privacy Act context)
Collection practices are not threatening/harassing (frequent issue in OLP cases)

9) Common Red Flags That Often Correlate With Non-Registration or Illegality

Claims like “SEC registered” but cannot provide the exact corporate name and SEC number
Only shows DTI/Mayor’s permit/BIR as “proof”
Requires upfront fees before releasing the loan (varies by scheme; treat as high risk)
Uses personal e-wallet accounts for payments without clear official billing
Contract is missing, vague, or not presented before you accept
Uses intimidation, shaming, or third-party harassment for collections
App demands access to contacts, photos, messages, call logs unrelated to credit assessment

10) What SEC Registration Does Not Guarantee

Even a properly registered and authorized lending/financing company can still have problematic terms or practices.

SEC registration/authority is not:

a guarantee of “safe” or “cheap” loans
an endorsement of the company’s ethics or service quality
proof that the interest and fees are reasonable
proof the lender will comply with privacy and fair collection standards

You still need to review:

the full disclosure of the total cost of credit (Truth in Lending concepts)
interest computation method, fees, penalties
data privacy terms and app permissions
collection and dispute processes

11) Key Takeaways

“SEC-registered” should be checked at multiple levels: corporate existence, authority to operate as a lending/financing company, and (for apps) platform compliance/disclosure.
The most reliable verification uses official SEC records and, when needed, official SEC-issued copies/certifications of documents.
Always verify the exact legal entity behind an app—brand names frequently hide the true operator.
DTI registration, business permits, and BIR registration are not substitutes for SEC authority to operate as a lending/financing company.
Registration is necessary but not sufficient; assess disclosures, privacy, and collection behavior as separate risk factors.