Will the 360 loan send a text message to my friends in the address book to help me activate the quota?

The purpose of binding contacts is to prevent you from meeting someone in loans overdue. When you have to borrow money, you don't send messages to your contacts. You will contact them only if it is overdue, and almost all contacts in the address book will call and send messages, not just those you are bound to. Because when you open the 360 IOUs and allow the app to read the address book, they are already stored in the background.

Therefore, when you borrow money, you don't need to worry that they will contact your relatives and friends.