CONVENIENCE CASH LENDING CORP. doing business under the names and styles of ZADA CASH and BLOOM CASH

Exchange Securities and Commission PPINE

BACONG PILIPINAS FINANCING AND LENDING COMPANIES DEPARTMENT

In the matter of: FinLend Order No. 2025- 02

Doing business under the Names and Styles of Unit 412 4th Floor, Cityland 10 CONVENIENCE CASH LENDING CORP. Zada Cash and Bloom Cash Salcedo Village,Makati City (CS2020090002200-05, CA No. 3319) Condominium, 6817 Ayala Avenue, North Tower FOR: NONCOMPLIANCE WITH ORDER DATED 06 JULY 2023 OR THE REGISTRATION WITH THE CREDIT INFORMATION CORPORATION AND FINANCIAL PRODUCTS AND SERVICES CONSUMER PROTECTION ACT AND ITS IMPLEMENTING RULES AND REGULATIONS

Respondent

TO:

CONVENIENCE CASH LENDING CORP

Greetings:

Please take notice that on 27 May 2025, an ORDER, copy hereto attached, was filed and emailed to you in advance referring to the above-entitled case; the original of which is file with the Commission.

Please acknowledge receipt hereof.

27 May 2025, Makati City.

A/TTY. KENNETH JOY A. QUIMIO OlC Director

Scan the QR to verify the document

Commission Securities and Exchange HILIPPINES

BACONG PILIPINAS

FINANCING AND LENDING COMPANIES DEPARTMENT

IN THE MATTER OF: FINLEND CDO Case No._02

Series of 2025.

Doing business under the Names and Styles of Zada Unit 412 4th Floor, Cityland 10 Tower 1 Condominium, 6817 Ayala Avenue,North Salcedo Village, Makati City Cash and Bloom Cash (CS2020090002200-05, CA No. 3319) CONVENIENCE CASH LENDING CORP Respondent. REGISTRATION FINANCIAL CONSUMER PROTECTION ACT AND ITS IMPLEMENTING FOR: DATED INFORMATION REGULATIONS. NONCOMPLIANCE 06 PRODUCTS JULY WITH CORPORATION 2023 RULES AND WITH THE OR SERVICES ORDER CREDIT THE AND AND

CEASEANDDESISTORDER

Corp. ("Convenience Cash") for its noncompliance with the Order dated 06 July 2023, which requires all financing and lending companies that are operating an Online Lending Platform ("OLP") to register with Consumer Protection Act and its Implementing Rules and Regulations ("FCPA-IRR"). the Credit Information Corporation ("CIC") and as mandated under the Financial Products and Services This resolves the Show Cause Letter dated 02 May 2025 issued against Convenience Cash Lending

Antecedents

September 2020, under registration no. CS2020090002200-05. The Commission approved its license to engage in lending business under Certificate of Authority No. 3319. Its primary purpose is: Convenience Cash is a registered stock corporation registered with the Commission on 22

borrowing shall be sourced from and not more than nineteen (19) lenders, "to engage in the business of offline and online lending without, however, engaging including stockholders." in pawnbroking under P.D. 114 and financing under R.A. 8556, provided that

2023. The Show Cause Letter instructed Convenience Cash to file its reply within ten (10) days and was against Convenience Cash for its failure to register with the CIC as required under the Order dated 06 July Sent using Convenience Cash's registered email address under Memorandum Circular No. 28, Series of 2020. On 02 May 2025, the Financing and Lending Companies Department issued a Show Cause Letter

As of 16 May 2025, Convenience Cash failed to respond to the Show Cause Letter.

Issue

and Desist Order against it. Whether Convenience Cash's failure to register with the CIC warrants the imposition of a Cease

Ruling The Commission finds issuing a Cease and Desist Order against Convenience Cash warrantec

Scan the QR to verify the document

Convenience Cash Lending Corp. and styles of Zada Cash and Page 2 of 2 doing business under the names Bloom Cash

RE: Ce nd Desist Order

under the FCPA of requiring all lending and financing companies to improve differentiation among cannot be said to have offered a product which is suited to their needs and capacity as required under pricing of the loan products offered. Moreover, without a CIC registration, borrowers of Convenience Cash Section 2.1 of the FCPA-IRR. borrowers and to ensure that the creditworthiness of the borrowers is the primary consideration for the Convenience Cash's failure to register with the CIC runs contrary to the Commission's mandate

provisions of the FCPA and/or the SEC FCPA IRR, or may unjustly cause grave or irreparable injury or prejudice to financial consumers, to wit: public,Section 6(d)(4) of the FCPA,as implemented by MC No.05, Series of 2023, authorizes the Commission to issue a cease and desist order without the necessity of a prior hearing if in the Commission's judgment, the act or practice, unless restrained, amounts to fraud or a violation of the Relative thereto, to ensure that the Commission is able to perform this mandate and to protect the

Powers of the SEC "RULE 6

Section 1. Powers of the Commission. -- The Commission shall, in the implementation of these Rules and the provisions of the FCPA, have the following powers:

D.Enforcement. The Commission shall have the authority to impose enforcement of the FCPA, SEC FCPA IRR, and other existing laws pertinent to the jurisdiction actions against financial service providers for noncompliance with the provisions and authority of the Commission.

Such enforcement actions may include the following:

the Commission's website. [Emphasis supplied] the necessity of a prior hearing if, in the Commission's judgment, the act or practice, unless restrained, amounts to fraud or a violation of the provisions of the FCPA and/or the SEC FCPA IRR, or may unjustly cause grave or irreparable injury or prejudice to financial consumers. A CDO is immediately executory upon service or publication on Issuance of a cease and desist order ("CDO") to a financial service provider without

are hereby DIRECTED to immediately CEASE AND DESIST from engaging in, carrying out, promoting and under the names and styles of Zada Cash and Bloom Cash including its owners, operators, promoters representatives,agents,AND ANY AND ALL PERSONS CLAIMING AND ACTING FOR AND, IN THEIR BEHALF facilitating any lending activity or transaction. WHEREFORE,premises considered, CONVENIENCE CASH LENDING CORP.doing business

any persons acting for and on their behalf are directed to CEASE AND DESIST from offering and advertising their lending business through the Internet or any other media and to delete or remove any materials involving or covering the same. Zada Cash and Bloom Cash and its owners, operators, promoters, representatives, agents, and

SO ORDERED. 2 May 2025, Makati City.

sUm Atty. Kenneth Joy AQuimio OIC-Directol w

N

Scan the QR to verify the document