Filipinos now primarily use online loans for daily expenses and bill payments instead of debt consolidation, signaling the growing role of lending apps in supporting financial flexibility and short-term cash flow management.
In a recent study by Agile Data Solutions Inc., it was found that there is a shift in consumer borrowing habits in the Philippines, as over 30% of borrowers use loans for business-related purposes, such as e-commerce and online selling.
This trend, according to the report, shows how Filipinos are leveraging lending as a tool for financial growth— using borrowed funds to generate income rather than merely covering immediate expenses.
The study, which polled 3,544 respondents, also reveals that social media continues to be a powerful driver in financial education and consumer engagement, with Facebook remaining as the most widely used platform among online lending platforms users.
Meanwhile, TikTok has emerged as a crucial tool in increasing app downloads and strengthening brand trust.
