Introduction
Online lending companies, also known as online lending platforms (OLPs), provide digital financial services that allow individuals and businesses to access loans through mobile applications, websites, or other electronic means without the need for physical branches. In the Philippines, these entities play a significant role in promoting financial inclusion by offering quick and convenient credit options to underserved populations, such as those without traditional banking access. However, to ensure consumer protection, fair lending practices, and prevention of abusive behaviors like excessive interest rates or harassment, the Securities and Exchange Commission (SEC) regulates these companies. Only those registered and authorized by the SEC are legally permitted to operate, ensuring compliance with national laws and standards.
The regulation of online lending stems from the growing prevalence of digital finance and the need to address issues like data privacy breaches, unfair collection practices, and predatory lending. As of February 2026, the SEC maintains an updated registry of authorized OLPs to guide borrowers in identifying legitimate platforms. This registry helps mitigate risks associated with unregistered entities, which often engage in illegal activities and are subject to enforcement actions, including app removals from digital stores.
Legal Framework Governing Online Lending Companies
The primary legal basis for regulating lending companies, including online platforms, is Republic Act No. 9474, known as the Lending Company Regulation Act of 2007. This law mandates that all lending companies must register with the SEC and obtain a Certificate of Authority (CA) before commencing operations. It defines a lending company as a corporation engaged in granting loans from its own capital funds or from funds sourced from not more than 19 persons.
In response to the rise of digital lending, the SEC issued Memorandum Circular No. 19, series of 2019, specifically addressing the rules and regulations on the registration and operation of online lending platforms. This circular requires OLPs to disclose full loan terms, including interest rates, fees, and repayment schedules, in compliance with Republic Act No. 3765 (Truth in Lending Act). Additionally, OLPs must adhere to Republic Act No. 10173 (Data Privacy Act of 2012) to protect borrowers' personal information and prevent unauthorized access or sharing.
Other relevant regulations include:
- SEC Memorandum Circular No. 18, series of 2019, prohibiting unfair debt collection practices, such as threats, public shaming, or harassment.
- Joint Memorandum Circular No. 1, series of 2020, issued by the SEC, Bangko Sentral ng Pilipinas (BSP), and Insurance Commission, which harmonizes fintech regulations.
- Anti-Money Laundering Act (Republic Act No. 9160, as amended), requiring OLPs to implement know-your-customer (KYC) procedures.
Violations of these laws can result in penalties, including fines up to PHP 1 million, revocation of the CA, and criminal charges. The SEC actively monitors compliance through audits, consumer complaints, and partnerships with app stores like Google Play and Apple App Store to remove unregistered apps.
Requirements for SEC Registration and Authorization
To become an SEC-registered online lending company, an entity must fulfill stringent requirements to demonstrate financial stability, operational integrity, and commitment to ethical practices. The process involves:
Corporate Registration: The company must first incorporate as a corporation with the SEC, submitting articles of incorporation, bylaws, and proof of minimum paid-up capital (PHP 1 million for lending companies).
Application for Certificate of Authority: Submit a detailed application including:
- Business plan outlining lending operations, target market, and risk management.
- Financial statements audited by an independent CPA.
- Proof of compliance with anti-money laundering regulations.
- Disclosure of ownership structure, ensuring no disqualified persons (e.g., those with criminal records related to finance).
- Technology infrastructure details for data security and privacy.
Compliance with Specific OLP Rules: Under MC 19-2019, OLPs must:
- Implement a fair interest rate cap (not exceeding 0.8% per day or 24% per month, as per SEC guidelines).
- Provide transparent loan calculators and contracts in simple language.
- Establish a complaints resolution mechanism.
- Register with the National Privacy Commission (NPC) for data protection.
Ongoing Obligations: Registered companies must submit annual reports, audited financials, and updates on any changes in operations. The CA is typically valid for three years but can be renewed upon compliance verification.
The SEC reviews applications within 60 days, and approved companies are added to the official list of recorded OLPs.
Importance of Using SEC-Registered Online Lending Companies
Borrowing from registered OLPs offers several protections:
- Transparency: Full disclosure of costs prevents hidden fees.
- Fair Practices: Caps on interest rates and prohibitions on abusive collections.
- Data Security: Compliance with privacy laws safeguards personal information.
- Recourse: Borrowers can file complaints with the SEC for resolution.
- Legitimacy: Reduces risks of scams, where unregistered apps may disappear after collecting data or payments.
Unregistered platforms often impose exorbitant rates (up to 1,000% annually) and use aggressive tactics, leading to debt traps. The SEC has issued advisories against hundreds of such entities, and borrowers are encouraged to report them via the SEC's Enforcement and Investor Protection Department.
Comprehensive List of SEC-Registered Online Lending Companies
The following is the complete list of SEC-registered online lending companies authorized to operate in the Philippines as of 2026. This list includes popular apps and their corresponding corporate entities, SEC registration numbers, and CA numbers where applicable. Note that this registry is dynamic, with new registrations and potential revocations; always verify the latest status on the official SEC website.
| No. | App Name | Corporate Name | SEC Registration No. | CA Number |
|---|---|---|---|---|
| 1 | GCash (GCredit/GGives) | Fuse Lending, Inc. | CS201618149 | No. 1139 |
| 2 | Maya Bank | Maya Bank, Inc. | CS202103138 | Digital Bank |
| 3 | Tala | Tala Financing Philippines Inc. | CS201710582 | No. 1132 |
| 4 | Home Credit | HC Consumer Finance Phils. Inc. | CS201301624 | No. 1101 |
| 5 | JuanHand | WeFund Lending Corp. | CS201825672 | No. 2844 |
| 6 | Digido | Digido Finance Corp. | CS202003056 | No. 1272 |
| 7 | Cashalo | Oriente Express Techsystem Corp. | CS201736637 | No. 1152 |
| 8 | BillEase | First Digital Finance Corp. | CS201521193 | No. 1104 |
| 9 | Tonik Bank (Flex Loan) | Tonik Digital Bank, Inc. | CS201915357 | Digital Bank |
| 10 | CIMB Bank (REVI) | CIMB Bank Philippines, Inc. | Foreign Entity | BSP Licensed |
| 11 | MocaMoca | Copperstone Lending Inc. | CS201729120 | No. 1146 |
| 12 | PeraJet | Wofu Lending Services Corp. | CS201901353 | No. 2883 |
| 13 | CashMart | Cash Mart Asia Lending Inc. | CS201608670 | No. 1102 |
| 14 | Zaimoo | Zaimoo Lending Corp. | CS201918237 | No. 3154 |
| 15 | FastCash | FastCash Lending Inc. | CS201824731 | No. 2822 |
| 16 | PondoCash | PondoCash Lending Corp. | CS201825120 | No. 2831 |
| 17 | MoneyCat | MoneyCat Financing Inc. | CS201911472 | No. 1251 |
| 18 | UnaCash | UnaCash Financing Corp. | CS201913430 | No. 1255 |
| 19 | AUB Cashtree | Asia United Bank Corp. | L-97-000001 | Commercial Bank |
| 20 | Security Bank (Ready Cash) | Security Bank Corporation | N/A | Commercial Bank |
| 21 | Finbro | Finbro Lending Investor Inc. | CS201917540 | No. 3139 |
| 22 | Opes | Opes Lending Corp. | CS201918331 | No. 3160 |
| 23 | Vamo | Vamo Lending Services Corp. | CS201901354 | No. 2884 |
| 24 | Modo | Modo Lending Corp. | CS201918451 | No. 3171 |
| 25 | Lendpinoy | AND Financing Corporation | CS201813136 | No. 1184 |
| 26 | Zippeso | Zippeso Lending Corp. | CS201918552 | No. 3182 |
| 27 | Asialink | Asialink Finance Corp. | CS199710312 | No. 570 |
| 28 | Instacash | Instacash Finance Co., Inc. | CS000010123 | No. 004 |
| 29 | Cash ni juan | SB Finance Company, Inc. | CS202008451 | No. 1281 |
| 30 | CashExpress | CashExpress Settlement Inc. | CS201916321 | No. 3105 |
| 31 | Online Loans Pilipinas | Online Loans Pilipinas Financing | CS201729450 | No. 1149 |
| 32 | Upeso | Upeso Lending Corp. | CS201916431 | No. 3112 |
| 33 | Kviku | Kviku Lending Inc. | CS201915220 | No. 3101 |
| 34 | Pesoloan | Pesoloan Lending Corp. | CS201826110 | No. 2855 |
| 35 | Mayani | Mayani Agri-Financing | CS201912551 | No. 1260 |
| 36 | Vidalia | Vidalia Lending Corp. | CS200816355 | No. 1133 |
| 37 | Asteria | Asteria Lending Inc. | CS201605331 | No. 1118 |
| 38 | Skyro | Skyro Finance (Jungle Lending) | CS201917551 | No. 1269 |
| 39 | Aeon Credit | Aeon Credit Service (Phils.) Inc. | CS201301540 | No. 1105 |
| 40 | Bukas | Bukas Finance Corp. | CS201918221 | No. 1275 |
| 41 | Global Dominion | Global Dominion Financing Inc. | CS200312551 | No. 984 |
| 42 | First Circle | First Circle Financing Inc. | CS201618221 | No. 1135 |
| 43 | Acudeen | Acudeen Technologies Inc. | CS201614521 | No. 1121 |
| 44 | Plentina | Plentina Lending Inc. | CS202006321 | No. 3201 |
| 45 | Suncash | Suncash Lending Investors Inc. | CS201815221 | No. 2811 |
| 46 | Moregold | Moregold Lending Corp. | CS201915441 | No. 3108 |
| 47 | Peramoo | Peramoo Lending Corp. | CS201916551 | No. 3122 |
| 48 | PesoRedee | PesoRedee Financing Co. Inc. | CS201913121 | No. 1253 |
| 49 | CashV | CashV Lending Corp. | CS201917221 | No. 3145 |
| 50 | Mabilis Cash | Mabilis Cash Lending Corp. | CS201918111 | No. 3150 |
| 51 | JoyCash | JoyCash Lending Investor Corp. | CS201918441 | No. 3165 |
How to Verify an Online Lending Company's Registration
To confirm a company's status:
- Visit the SEC website (www.sec.gov.ph) and navigate to the "Lending Companies and Financing Companies" section.
- Search the list of recorded OLPs or use the i-View portal for corporate records.
- Check for the SEC registration number and CA on the company's app or website.
- Contact the SEC via email (secenforce@sec.gov.ph) or hotline for inquiries.
Warnings and Enforcement
The SEC regularly issues advisories against unregistered OLPs, which may pose as legitimate but lack oversight. Common red flags include undisclosed fees, demands for upfront payments, or aggressive marketing. In 2025-2026, the SEC collaborated with tech giants to remove over 2,000 unauthorized apps. Borrowers affected by illegal lenders can seek remedies through the SEC, NPC, or courts. Reporting violations contributes to a safer financial ecosystem.
In summary, adhering to SEC-registered OLPs ensures legal and ethical borrowing experiences, fostering trust in the Philippine fintech sector.