SEC Issues Advisory against Unrecorded Online Lending App on Google Play Store

The SEC issues an advisory against unrecorded Online Lending Platforms (OLPs) that offer, process, or lend to the public through platforms such as the Google Play Store because they are violating the moratorium imposed under SEC Memorandum Circular No. 10, Series of 2021, effective November 2, 2021, which prohibits the launch, registration, acceptance of new users, and operation of new OLPs.

The continuation of the aforementioned OLPs to lend without authorization is considered a violation of existing SEC regulations and may result in the imposition of administrative sanctions, including cease and desist orders, permanent closure, blacklisting, and the filing of cases pursuant to the Lending Company Regulation Act, Financing Company Act, Financial Products and Services Consumer Protection Act, Data Privacy Act, and corresponding Implementing Rules and Regulations.

1. PesoMate - Flexible Loan
https://play.google.com/store/apps/details?id=com.factors.pesomate
 
2. ULend - Fast Cash Loan
https://play.google.com/store/apps/details?id=com.gul.ulendapp
 
3. Magaling Peso-Fast Online Loan
https://play.google.com/store/apps/details?id=magalingpeso.cash.loan
 
4. VIP CASH–Finance Assistant PH
https://play.google.com/store/apps/details?id=com.vip.cash.online.loan
 
5. Cashpedia-online cash loan
https://play.google.com/store/apps/details?id=com.loan.cashpedialending
 
6. PERA NOW: Secure Loans
https://play.google.com/store/apps/details?id=com.pro.pe.now
 
7. Finledger
https://play.google.com/store/apps/details?id=com.ledgers.fin.stable&hl=en
 
8. MadaPera-online cash loan
https://play.google.com/store/apps/details?id=com.arep.illom&hl=en
 
9. ZRT Loan: Fast Cash Loan
https://play.google.com/store/apps/details?id=com.zrtcredit.loan&hl=en
 
10. PesoOne-Fast Loans PH
https://play.google.com/store/apps/details?id=com.peso.one.link.inc.loan&hl=en
 
11. Kwago Peso - Cash Loan App
https://play.google.com/store/apps/details?id=kawago.peso.loan.philippine
 
12. SL Cash-Fast Cash Loan
https://play.google.com/store/apps/details?id=com.slcash.loan
 
13. Peso Easy: Philippine Loan App
https://play.google.com/store/apps/details?id=add.peso.easy.loan.quick
 
14. PesoOne-Fast Loans PH
https://play.google.com/store/apps/details?id=com.peso.cash.online.loan
 
15. Sure Money:Smart Loan App
https://play.google.com/store/apps/details?id=inc.lenging.loan.sure.money
 
16. VIP Funds–Finance Assistant PH
https://play.google.com/store/apps/details?id=vip.cash.funds.loan
 
17. Cashflux: Peso Loan
https://play.google.com/store/apps/details?id=com.loan.cashfluxloan
 
18. MeeBrar Loan
https://play.google.com/store/apps/details?id=com.merawl.meebrar
 
19. Agad Loan-Quick and Fast Loan
https://play.google.com/store/apps/details?id=com.taal.agad
 
20. MorePautang–Loan Hub
https://play.google.com/store/apps/details?id=com.trusty.safety.morepautang
 
21. CashTwig: Financial Growth
https://play.google.com/store/apps/details?id=com.cashtwig.finance.track
 
22. Suki Peso
https://play.google.com/store/apps/details?id=org.andromeda.speso
 
Only the SEC has the authority to post copies of recorded and authorized OLPs. The only legal and authorized OLPs can be found on the official list at:

SEC Website – List of Recorded Online Lending Platforms https://www.sec.gov.ph/lending-companies-and-financing-companies-2/list-of recorded-online-lending-platforms/

Anyone caught lending or operating an OLP without authorization may be held liable under:

• Financing Company Act;
• Lending Company Regulation Act;
• Financial Products and Services Consumer Protection Act; and
• Data Privacy Act (if there is data abuse).

For inquiries, complaints, or reporting of illegal lenders, please contact SEC through the following channel:

• (02) 8818-5990
• SEC iMessage Portal: https://imessage.sec.gov.ph/
• SEC Official Website: https://www.sec.gov.ph