How to Check if an Online Lending App Is SEC-Registered (Philippines)

Last updated: 29 September 2025 (Philippine context). This article explains the legal framework, step-by-step verification, red flags, and remedies when dealing with online lending platforms.

1) Why SEC registration matters

Under Philippine law, lending companies (organized under the Lending Company Regulation Act of 2007, Republic Act No. 9474) and financing companies (organized under the Financing Company Act of 1998, Republic Act No. 8556, as amended) must:

Incorporate with the Securities and Exchange Commission (SEC) — that’s the primary registration; and
Obtain a Certificate of Authority (CA) to Operate as a lending or financing company — that’s the secondary license.

Operating a lending business without a CA is unlawful. The SEC may suspend or revoke a CA and issue cease-and-desist orders, in addition to administrative fines. Criminal liability can also attach under RA 9474 for unlicensed lending.

Key principle: If it’s not a bank (Bangko Sentral ng Pilipinas-supervised) and it offers loans to the public, it must ordinarily be SEC-licensed — both as a corporation and via a CA.

2) The three things you must find (and match)

When you check an app, confirm all three:

The corporate name (e.g., “ABC Lending Corporation”)
The Certificate of Authority number (or at least a statement that it holds a CA)
The status (active, suspended, revoked) and the exact product/brand/online platform it uses

It is common for the app or brand name to be different from the corporate name. The brand (e.g., “QuickPeso”) must link to a real SEC-licensed entity (e.g., “QuickPeso Lending Corporation”). Marketing names without a matching licensed company are a red flag.

3) Step-by-step: How to verify

A. Gather the app’s legal identity

Open the app listing (App Store/Google Play) and the in-app “About/Privacy/Terms” pages.
Note the corporate name, business address, email, and SEC details (registration number/CA number).
If none are shown, request them via the app’s support channel with a simple line:

“Please provide your complete corporate name as registered with the SEC and your Certificate of Authority number.”

B. Check SEC corporate registration

Search the SEC’s public corporate database for the exact corporate name.
Confirm the company type (“Lending Company” or “Financing Company”), date of registration, and status.

C. Check for a Certificate of Authority (CA)

Within the SEC record (or via SEC lists of licensed entities), verify that the company holds a valid CA to operate as a lending/financing company.
Cross-check whether the brand/app/website you’re using is declared as its online lending platform (OLP) or official channel.

D. Check for SEC advisories and sanctions

Look up any SEC advisories or revocation/suspension orders mentioning the company, its officers, or its app/website.
If the company appears in blacklists or revocation lists, do not proceed.

E. Confirm consumer-protection disclosures

Truth in Lending Act (RA 3765): the app must clearly disclose the finance charge, interest rate, other fees, and the total amount to be repaid, before you borrow.
Data Privacy Act (RA 10173): the app must have a legitimate privacy notice explaining what data it collects, why, how long it keeps it, and with whom it shares it.
Debt-collection rules: unfair collection practices (e.g., public shaming, threatening messages, contacting people in your phonebook without basis) are prohibited by SEC regulations and may also violate the Data Privacy Act and other laws.

4) Quick checklist (copy/paste)

Corporate name matches an SEC-registered lending/financing company
Certificate of Authority exists and is valid (not revoked/suspended)
The app/website/brand is expressly tied to that licensed entity
Clear rates, fees, and total cost shown before you confirm
Privacy notice names the same corporate entity and explains data uses
No excessive permissions (contacts, photos, location) without clear purpose
Customer support shows a corporate email and physical address in the Philippines
No SEC advisory or enforcement action against the company/app

5) Red flags that often signal an illegal or non-compliant lender

No corporate name anywhere (only a generic brand)
No CA number and evasive responses when asked for it
Different names across app, terms, and receipts (e.g., “XYZ App” but receipts from “123 Solutions OPC” not licensed for lending)
Contact list scraping or asking for unnecessary permissions (contacts/photo gallery) unrelated to credit-risk assessment
Harassing collection: public shaming, threats, profanity, contacting your employer/relatives
Undisclosed or shifting fees; interest shown only after loan approval
Offshore entity with no Philippine address but lending to Philippine residents
Impersonating banks/BSP/SEC or using fake certificates/seals

6) Understanding the alphabet soup (who regulates what)

SEC — Registers corporations and licenses lending/financing companies, supervises their conduct, enforces against illegal lenders and unfair collection.
BSP — Supervises banks, quasi-banks, e-money issuers, and certain credit providers like credit card issuers. If the lender is a bank (loan via your bank app), verification is done through BSP supervision and the bank’s disclosures.
NPC (National Privacy Commission) — Enforces the Data Privacy Act; handles complaints about data misuse, contact-list scraping, doxxing, and privacy breaches.
NBI/PNP-ACG — For criminal violations (e.g., harassment, extortion, cybercrimes).
DTI — Misleading ads and some consumer-protection aspects (though lending licenses remain with the SEC).

7) What “online lending platform” (OLP) compliance should look like

A compliant app typically:

States the licensed lending/financing company behind the app;
Identifies the exact brand/app/URL(s) it operates;
Provides clear customer support channels;
Presents standard disclosures (APR/effective interest rate, fees, repayment schedule, right to prepay, penalties);
Uses proportionate data collection with your consent, avoids scraping your contacts, and allows you to exercise your data-subject rights (access, correction, deletion when applicable).

8) If you already borrowed and suspect illegality

Document everything: screenshots of the app pages, loan terms, payment receipts, messages from collectors, and any proof of harassment.
Report to the SEC (Enforcement/Investor Protection) with the corporate/app name, CA (if any), and evidence.
Report privacy violations to the NPC (for contact scraping, doxxing, etc.).
Pay only what is lawfully due under your agreement; challenge undisclosed or abusive fees. Consider a demand letter if needed.
For threats and cyber-harassment, file a complaint with NBI Cybercrime Division or PNP-ACG.
If your device permissions were abused, revoke app permissions, change passwords, and consider a data-breach report to the NPC.

9) Practical scripts you can use

Request for corporate and license details

Please provide: (1) your full corporate name as registered with the SEC, (2) your SEC Certificate of Authority number and date of issuance, and (3) the list of online platforms/brands you operate under that license.

Debt-collection boundaries

Under Philippine law and SEC rules, unfair debt-collection practices — including public shaming, threats, and contacting third parties without lawful basis — are prohibited. Please limit communications to the borrower and authorized channels.

Data-privacy assertion

I withdraw any consent to access my contacts and unrelated data. Kindly cease further processing of my personal data not necessary for my loan and confirm deletion of unlawfully collected data pursuant to RA 10173.

10) Frequently asked questions

Q: The app says it “partners” with a licensed lender — is that enough? A: The actual lender advancing the money must hold a valid CA (or be a BSP-supervised bank). The partner claim should be verifiable: the licensed entity’s name should appear in the app’s disclosures and receipts.

Q: Is there a legal interest rate cap? A: The general usury ceiling is suspended (Central Bank Circular No. 905), but rates and charges must be clearly disclosed (RA 3765) and not unconscionable under civil law/consumer-protection principles. Some sectors (e.g., credit cards) have BSP-set caps; typical lending apps do not unless specifically covered.

Q: They won’t give me their CA number. A: Treat that as a serious red flag. You can still search the SEC database for the corporate name; if there is no CA or the company doesn’t exist, report it.

Q: Can a sole proprietor legally run a lending app? A: Lending to the public as a business generally requires corporate registration with the SEC and a CA. A simple sole proprietorship with a DTI business name is not sufficient for a lending company.

Q: The brand changed but the app looks the same. A: Re-check the corporate name and CA. Bad actors often rebrand after enforcement.

11) What to keep on file (due diligence pack)

Screenshot of corporate and CA details
Copy of terms and conditions and privacy notice
Disclosure sheet (rates/fees/total repayment) before you borrowed
Repayment schedule and official receipts
Communications with the lender and collectors
Any advisories or decisions you find about the app/company

12) Bottom line

To safely use an online lending app in the Philippines, verify (1) the SEC-registered corporate entity, (2) a valid Certificate of Authority, and (3) that the app/brand you’re using is explicitly tied to that license. Confirm transparent pricing, lawful data practices, and proper collection conduct. If something doesn’t match, walk away and report it.