How to Check if an Online Lender Is SEC-Registered in the Philippines

Online lending apps have made borrowing fast and convenient in the Philippines. They've also made it easy for unregistered operators and impostor apps to reach borrowers. The SEC regularly issues advisories against apps that use a legitimate company's name or logo without permission, or that operate with no authority at all.

The good news is that checking a lender takes only a few minutes. This guide shows you what to look for and where to verify it.

Who regulates lenders in the Philippines?

Different kinds of lenders answer to different regulators:

• Lending companies are governed by the Lending Company Regulation Act of 2007 (Republic Act No. 9474) and regulated by the Securities and Exchange Commission (SEC).
• Financing companies are governed by the Financing Company Act of 1998 (Republic Act No. 8556, as amended) and are also regulated by the SEC.
• Banks (universal, commercial, thrift, rural and digital banks) are supervised by the Bangko Sentral ng Pilipinas (BSP).
• Pawnshops are also supervised by the BSP.
• Cooperatives that lend to members are registered with the Cooperative Development Authority (CDA).

Most online lending apps are run by SEC-registered lending or financing companies, so the SEC is usually where you will verify them.

The three details every legitimate lender should show

Under SEC Memorandum Circular No. 19, series of 2019, lending and financing companies must disclose key corporate details in their advertisements and on their online lending platforms. Look for:

1. Corporate name: the full registered name, such as "ABC Lending Corp." or "XYZ Financing Inc." A brand or app name alone is not enough.
2. SEC Registration Number: often starting with letters such as "CS" followed by numbers.
3. Certificate of Authority (CA) Number: the separate authority that allows the company to operate as a lending or financing company. Registration alone (being a corporation) is not enough to lend; a company also needs a CA.

These details are usually in the website footer, the "About Us" page, the app store listing, or inside the app. If you cannot find them at all, treat that as a warning sign.

Step-by-step: verifying on the SEC website

1. Go to the official SEC website at sec.gov.ph. Type the address yourself rather than clicking links in messages or ads.
2. Look for the section on Lending Companies and Financing Companies. The SEC publishes a list of financing companies, a list of lending companies, a list of recorded online lending platforms, and a list of revoked and suspended companies.
3. Search the company name using your browser's find function (Ctrl+F on desktop, "Find in page" on mobile). Try parts of the name, since spelling and punctuation may differ.
4. Match the numbers. The SEC Registration Number and CA Number on the lender's site should match the SEC list.
5. Check the platform. If you are using an app, see whether that app or website is listed as an online lending platform of that company. An app using a registered company's name is not automatically legitimate. Impostor apps exist.
6. Check the revoked and suspended list and the SEC's advisories. A company that once had a CA may have had it revoked.

SEC lists are updated periodically and some are published as documents rather than searchable databases. If you cannot find a company, you can contact the SEC directly through the contact details on its website.

Red flags that a lender may not be legitimate

• No corporate name, SEC number or CA number anywhere on the site or app.
• Numbers that don't match the SEC lists, or a CA number that belongs to a different company.
• Advance fees. You are asked to pay a "processing", "insurance" or "verification" fee via GCash, Maya, or remittance before you receive the loan.
• Communication only through social media or messaging apps, with no official website or office address.
• "Guaranteed approval" or "no requirements at all" claims. Legitimate lenders assess applications; no one can guarantee approval.
• Excessive app permissions, such as full access to your contacts, photos, or messages.
• Pressure to decide immediately or to borrow more than you asked for.
• Similar-looking names. Scammers often copy a well-known brand with a small spelling change or an extra word.

What about loan comparison and matching websites?

Websites like PersonalLoans.ph are not lenders. We compare options and may refer you to lenders, and we may be paid when you click through or apply. A comparison or matching service cannot approve your loan and should never ask you to pay a fee to get one. The loan contract will always be between you and the lender, so it is the lender's registration you need to verify.

On our lender comparison page, we show a lender's corporate name, SEC Registration Number and Certificate of Authority Number only where we were able to confirm them from the SEC's lists or the lender's own website. Where we could not, we say so and ask you to verify on sec.gov.ph. Always do your own check before applying.

What to do if you find an unregistered lender

• Do not borrow and do not share your IDs or selfies with it.
• Report it to the SEC using the complaint channels listed on sec.gov.ph.
• If you have already shared personal data and are being harassed, see our guide on loan-app harassment and your rights. You may also complain to the National Privacy Commission.
• If you have been threatened or defrauded, you can report to the PNP Anti-Cybercrime Group or the NBI Cybercrime Division.

A 60-second checklist

• I found the lender's full corporate name.
• I found its SEC Registration Number and Certificate of Authority Number.
• Both numbers match the SEC's published lists.
• The app or website I'm using is the company's own platform, not a look-alike.
• The company does not appear on the SEC's revoked/suspended list or recent advisories.
• I have not been asked to pay anything upfront.

Verification is your best protection. Once you have a shortlist of legitimate lenders, use our step-by-step guide on how to compare personal loans, or browse the comparison page. If you are new to borrowing, our first-time borrower guide is a good next read.

Frequently asked questions

Is SEC registration enough for a company to lend money?

No. A corporation also needs a Certificate of Authority (CA) from the SEC to operate as a lending or financing company. Look for both numbers.

Where do I find a lender's SEC Registration and CA numbers?

Usually in the website footer, the About Us page, the app store listing or inside the app. SEC Memorandum Circular No. 19, s. 2019 requires lenders to disclose them in their ads and platforms.

What should I do if a lending app is not on the SEC lists?

Do not borrow or share your IDs or selfies with it, and report it to the SEC through the complaint channels on sec.gov.ph.

Legit ba ang loan app na ito? Paano malalaman kung may SEC?

Hanapin sa app o website ang buong corporate name, SEC Registration No. at Certificate of Authority No. Tapos i-check mo mismo sa sec.gov.ph kung nasa listahan sila at kung kasama ang app na gamit mo. Kung wala o hindi tugma, huwag nang ituloy.