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Manila Bulletin devider Business devider The Stock Market devider SEC shuts down Bridge Cash online lending app over fraud allegations

SEC shuts down Bridge Cash online lending app over fraud allegations

Published Jul 1, 2026 04:08 pm
The Securities and Exchange Commission (SEC) has issued a cease-and-desist order (CDO) against Bridge Cash, directing it to stop engaging in unauthorized lending activities.
In its order, the SEC Enforcement and Investor Protection Department (EIPD) ordered Bridge Cash to immediately stop processing online lending activities and to cease operating applications, online lending platforms (OLPs), and messaging channels under the name Bridge Cash or any variation thereof.
The order covers the company's website, as well as its operators, owners, administrators, officers, representatives, agents, promoters, and all persons acting on its behalf.
The SEC also ordered Bridge Cash to cease deceptive, unfair, fraudulent, and unauthorized lending practices, and to stop falsely claiming affiliation with First Digital Finance Corporation or any other legitimate, SEC-registered financing or lending company.
The directive follows complaints from Bridge Cash borrowers alleging that the entity disbursed substantially lower loan proceeds due to undisclosed deductions and hidden fees, while still requiring borrowers to repay the full loan amounts within short periods ranging from five to seven days.
An SEC investigation revealed that Bridge Cash is not registered as a corporation with the Commission and, consequently, has not been issued a certificate of authority to engage in lending or financing activities.
Its operation of an unregistered OLP violates SEC Memorandum Circular (MC) No. 19, Series of 2019, which requires financing and lending firms to disclose all OLPs they operate. It also violates SEC MC No. 10, Series of 2021, which imposes a moratorium on new OLPs.
Citing victim statements, the SEC also found that Bridge Cash engaged in coercive collection practices, including harassment and unauthorized access to borrowers' personal contacts. This violates SEC MC No. 18, Series of 2019, and the Financial Products and Services Consumer Protection Act of 2022, both of which prohibit unfair debt collection.
“Accordingly, the continued operation of Bridge Cash operates as a fraud upon the public and can cause grave, irreparable, and continuing injury and prejudice to borrowers and financial consumers,” the order read. (James A. Loyola)

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Securities and Exchange Commission Bridge Cash
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