How to Check if Online Lending Apps Are Registered with the SEC (Philippines)

Practical, step-by-step guidance with the legal backdrop borrowers and businesses should know.

Executive summary

In the Philippines, online lending apps are lawful only if three things are true:

A corporation exists and is registered with the Securities and Exchange Commission (SEC);
That corporation holds a SEC Certificate of Authority (CA) to operate as a Lending Company (under the Lending Company Regulation Act) or as a Financing Company (under the Financing Company Act); and
Each online lending platform (OLP)—the specific app and/or website—has been separately registered/approved by the SEC for use by that company.

If any one of these is missing, the app is operating illegally and is subject to closure orders, fines, and potential criminal liability. Below is how to verify status, what documents to look for, and the red flags to avoid.

Legal framework (Philippine context)

Lending Company Regulation Act (LCRA), R.A. 9474 and its IRR – Only corporations may engage in lending as a business. – A SEC Certificate of Authority is mandatory in addition to ordinary SEC corporate registration.
Financing Company Act, R.A. 8556 (as amended) – Parallel regime for financing companies (e.g., consumer/auto loans, leasing, factoring), also requiring a SEC Certificate of Authority.
SEC Guidelines on Online Lending Platforms (commonly cited as SEC Memorandum Circulars on OLPs) – Before launching an app or website, a lending/financing company must register the OLP with the SEC, submit information about ownership, the domain/app details, outsourcing arrangements, and privacy/data processing measures. – OLP approvals are app/URL-specific; adding a new app or domain typically requires new/updated approval.
Prohibition on Unfair Debt Collection Practices (SEC guidance applicable to lending/financing companies) – Outlaws abusive collection behavior such as threats, profanity, contacting your employer or contacts for shaming, or public disclosure of debts.
Truth in Lending Act, R.A. 3765 – Requires clear disclosure of finance charges and the effective interest rate.
Data Privacy Act, R.A. 10173 – Lenders must observe data minimization, have a Data Protection Officer (DPO), and post a privacy notice. Harvesting your contacts/photos to coerce payment is a major red flag that may violate privacy rules.
Credit Information System Act, R.A. 9510 – Many lenders submit to the Credit Information Corporation (CIC), but CIC presence is not a substitute for SEC authorization.

What “registered with the SEC” really means for apps

Think of compliance as three layers:

Corporate registration – The legal person (e.g., ABC Lending Corp.) exists and is registered with the SEC.
Certificate of Authority (CA) – The SEC has licensed that corporation to operate as a lending or financing company.
OLP registration/approval – The specific app/website (e.g., “QuickPeso” app on Google Play / quickpeso.ph) is approved for use by that licensed company.

A legitimate app will typically display on its website/app listing:

Exact corporate name (not just a brand name),
SEC Registration Number,
SEC Certificate of Authority Number (and that it’s valid), and
Contact details (physical office address, phone/email), plus DPO contact and privacy notice.

How to verify an app—step by step

You do not need to be a lawyer to do this. Set aside 10–15 minutes and follow the checklist.

Identify the legal entity behind the app
- In the app store listing, look for “Offered by” or the publisher.
- In the app/website Terms of Use or Privacy Policy, find the corporate name and registered address.
Match the brand name to the corporation
- Many apps use a brand (e.g., “SwiftCash”) owned by a corporation with a different legal name (e.g., XYZ Lending Corp.).
- Your goal is to confirm that XYZ Lending Corp. is the real party behind the brand.
Confirm SEC corporate registration
- Check that the corporation exists and the name matches exactly (spelling, “Inc.”/“Corp.” included). Minor spelling differences are a warning sign.
Verify the SEC Certificate of Authority (CA)
- Look for the CA number and status (valid/not revoked).
- Corporate registration alone is not enough—they must have a CA as a lending/financing company.
Verify the Online Lending Platform (OLP) approval
- Confirm that the exact app name and/or website domain appears on the SEC’s approved OLPs for that corporation.
- If the corporation is licensed but the app/URL is not on the approved list, the app is not allowed.
Check for SEC enforcement actions
- Look for SEC Advisories, Cease and Desist Orders (CDOs), or revocations/suspensions naming either the corporation or the app/URL.
Cross-check disclosures in the app
- The app/website should show corporate name, SEC Reg. No., CA No., office address, and customer service contacts.
- There should be a privacy notice and a Truth in Lending disclosure (finance charge, fees, and effective interest rate).
Sanity-check permissions and practices
- A lending app that demands full access to your contacts, photos, or microphone is a major red flag.
- Any threats, shaming, or contacting third parties is unlawful collection behavior for SEC-regulated lenders.

Documents and evidence you should ask for (and keep)

SEC Certificate of Incorporation (proves the company exists).
SEC Certificate of Authority (CA) as a lending or financing company.
OLP approval for the app/URL you’re using.
Loan agreement or electronic disclosure statement showing: principal, finance charge, effective interest rate, tenor, fees, and repayment schedule.
Privacy Notice and Terms naming the corporation and its DPO contact.

Keep screenshots of the app listing, in-app pages, and any receipts/emails—they are vital if you need to report misconduct.

Red flags that usually mean “walk away”

No corporate name or it’s different across app, website, and contract.
No SEC CA number anywhere; or they refuse to provide one when asked.
The brand claims to be “just a marketplace/agent” but collects your KYC and disburses/collects—often a sign of an unlicensed lender.
Harassing collection (calling family/employer, posting on social media, threats).
Demands for upfront fees before loan approval.
Impossible pricing (e.g., “0% everything forever”) or hidden fees that appear only after disbursement.
App asks for contact list / gallery access without a legitimate, narrowly defined purpose.

What to do if an app looks illegal—or becomes abusive

Stop sharing data; revoke app permissions (contacts, storage, mic).
Document everything: screenshots, call logs, messages, loan details, payment proofs.
Report to the SEC (Enforcement/Investor Protection) with your evidence—focus on:
- Corporate name, brand/app name, app store link/URL, and what happened.
Report privacy abuses to the National Privacy Commission (NPC), especially if contacts were harvested or you were shamed.
If there are threats, extortion, or defamation, consider reporting to law enforcement and consult counsel.

Filing with both SEC (licensing/enforcement) and NPC (data privacy) is common—and effective.

Special notes and FAQs

Are single proprietors allowed to run lending apps? No. Under the LCRA, only corporations may engage in the lending business. A sole proprietor or partnership offering loans to the public as a business is unlawful.

Does corporate registration alone make a lender legal? No. They must also hold a SEC CA and, for digital operations, have SEC-approved OLP(s) for each app/URL.

If a bank’s name appears inside the app, does that make the app okay? Not automatically. If the loan is extended by the app company, that company must be SEC-licensed (or a BSP-supervised bank/NBFI if applicable). Marketing for a bank partner must be genuine and clear.

Are interest rates capped? Philippine law does not impose a universal cap on lending company rates, but unconscionable rates and hidden charges can be struck down by courts. The Truth in Lending Act requires clear, accurate disclosure of total cost and effective interest rate.

Is being listed with the CIC enough? No. CIC reporting is not a license. You still need to verify CA and OLP approvals.

For businesses: a compliance launch checklist (OLP)

Incorporate and secure SEC Registration.
Obtain SEC Certificate of Authority (Lending/Financing).
Register each OLP (app and website) with the SEC before going live.
Implement Truth in Lending disclosures and fair collection policies.
App permissions: minimize; no contacts scraping or coercive features.
Data Privacy: Name a DPO, publish a privacy notice, execute DPAs with processors, and limit data collection/retention.
Outsourcing (KYC, collections, cloud): maintain contracts and oversight; include these in your OLP submissions.
Security incidents: have breach-response and customer-notice processes.
Record-keeping & reporting: GIS/AFS filings, regulatory reports, and CIC submissions where applicable.

Consumer due-diligence worksheet (keep this handy)

Corporate legal name behind the app: __________
SEC Reg. No.: __________
SEC Certificate of Authority No. (Lending/Financing): __________
Approved OLP name(s)/URL(s) that match the app you’re using: __________
Office address and working hotline/email verified.
Loan disclosure shows finance charge and effective interest rate.
Privacy notice present; no excessive permissions requested.
No adversarial collection behavior in reviews/complaints.
I saved screenshots of all disclosures.

One-message template for asking an app to prove legitimacy

Subject: Request for SEC Authorization Details Please provide the following for our verification:

Exact corporate name and SEC Registration Number;

SEC Certificate of Authority (CA) Number and date of issuance;

The approved Online Lending Platform (OLP) name(s) and exact app package name/website domain covered by your SEC approval; and

Your registered office address, customer service hotline, and DPO contact. We will proceed only upon receipt of complete details. Thank you.

Final word

Legitimate Philippine lending apps are transparent, licensed, and app-specific approved. If you can’t match the brand → corporation → CA → OLP, treat the app as high risk—and walk away. This guide equips you to verify status yourself and gives you the right escalation paths if something goes wrong.

(This is general information for educational purposes and is not a substitute for legal advice.)