The Securities and Exchange Commission has continued to weed out illegally operating lending companies to support Pres. Rodrigo Duterte’s call against usurious lending.
The SEC announced on Friday that it had suspended the certificates of registration as corporations of additional 20 lending companies which did not have any certificate of authority (CA) to operate as a lending company required under Republic Act No. 9474 or the Lending Company Regulation Act of 2007.
This follows last month’s suspension of 84 lending companies for similar violation.
The 20 suspended companies are: Angeles Lending Investor (Angeles City, Pampanga); Champion Lending Corp. (Quezon City); Charton Lending Corp. (Marikina City); CLIA Lending Investor Inc. (Guagua, Pampanga); Eminence Lending Investor Inc. (Pasig City); ExpressAdvance Inc. (Bacoor, Cavite); Green Hope Credit Corp. (Valenzuela City); Kiangan Credit Resources & Trading Corp. (Pasay City); Lending Markets of Cebu Corp. (Sta. Cruz, Manila); LKT Lending Co. Inc. (Makati); Metro Asia Pacific Credit Corp. (Quezon City); Metro Sunrise Lending Investor Inc. (Quezon City); Multiplier Lending Corp. (Mandaluyong City); Peso & Cents Credit Resources Inc. (Pateros); Prisunic Lending Corp. (Valenzuela City); Prosperity Link Inc. (Las Pinas); PS Lending Investors Inc. (Quezon City); RSN Punjap Trading & Lending Corp. (Valenzuela and Malabon); St. Benedict Lending Investor Co. Inc. (Mandaluyong City) and The Quantum Link Lending Corp. (Makati and Paranaque).