The OECD highlighted the importance of financial resilience for vulnerable households in the long term, beyond the COVID-19 crisis. In behavioral economics, borrowing is a valuable means to enhance an individual’s financial resiliency. However, in psychology literature, borrowing can be detrimental to one’s mental health if the borrower cannot repay his debts. This study examines the effect of fast loans on the resilience-building behaviors and mental welfare in a Southeast Asian economy, the Philippines.