Complete List of Online Lending Operators Shut Down by SEC

Online Lending Operators

The Securities and Exchange Commission (SEC) of the Philippines issued various Cease and Desist Orders to several Online Lending Operators for lack of authority to operate as lending companies or financing companies.

Also, these online lenders were found to operating without a Certificate of Incorporation from the SEC. Hence, violating Republic Act No. 9474.

Moreover, the investigation of the SEC revealed that these Online Lending Operators have been doing unfair debt collection practices.

For instance, these lenders will text blast the contact list of the debtor’s mobile phone, informing them that the debtor obtained a loan and refuses to pay the balance due. Also, the lending operators threatened the debtors that a case would be filed, or the matter will be posted on social media if the balance is not paid.

Below are the Online Lending Operators with CDO from the SEC.

  1. Batis Loan
  2. Happy Credit
  3. Easy Cash
  4. Wahana Credit & Loan Corporation
  5. Light Kredit
  6. A&V Lending Mobile
  7. A&V Lending Investor
  8. A&V Lending Corporation
  9. Cashaku
  10. Cashaso
  11. Cashenergy
  12. Happy Loan
  13. Vito Lending Corporation
  14. Phily Kredit
  15. Rainbow-Cash
  16. RainbowCash.Ph Lending Corporation
  17. Cash Whale
  18. Cash 100
  19. Cashafin
  20. Cashflyer
  21. Cashmaya
  22. Cashope
  23. Cashwarm
  24. Cashwow
  25. Creditpeso
  26. ET Easy Loan
  27. Peso2go
  28. Instant Pera
  29. Quickpera
  30. Lendmo Philippines
  31. Binixo
  32. Cashbus
  33. Cashcat
  34. Cashhuttle
  35. Crazyloan
  36. Flash Cash
  37. Happy2peso
  38. Meloan
  39. Moneytree Quickloan
  40. Pera Express
  41. Pera4u
  42. Peramart
  43. Pesolending
  44. Quickpeso
  45. Umbrella

The SEC required the operators, owners of the above Online Lending Operators, their agents, representatives, and promoters, as well as the owners of the hosting sites, to immediately cease from operations.

Below are the Cease and Desist Orders of these Online Lending Operators.

  1. October 24, 2019 CDO- http://www.sec.gov.ph/wp-content/uploads/2019/10/2019CDO_BATISLOAN_HAPPYCREDIT.pdf
  2. October 10, 2019 CDO- http://www.sec.gov.ph/wp-content/uploads/2019/10/2019CDO_CASENO_10-19-057.pdf
  3. September 20, 2019 CDO- http://www.sec.gov.ph/wp-content/uploads/2019/09/2019CDO_CASHWHALE_CASH100_CASHAFIN_CASHFLYER.pdf
  4. September 12, 2019 CDO- http://www.sec.gov.ph/wp-content/uploads/2019/09/2019CDO_InstantPeraQucickPera.pdf