SSS Calamity Loan Available Starting this December, Marcos Jr. Announces

Pres. Bongbong Marcos Says SSS Calamity Loan Ready for Members

SSS CALAMITY LOAN – President Ferdinand Marcos Jr. announced that the emergency loan is available starting this December.

The Philippines was hit by several typhoons this year. Amid the -ber months in the country, countless families lost their loved ones following a flash flash flood that greatly hit Cebu and Negros provinces due to typhoon Tino. The said calamity was then followed by super typhoon Uwan.

Prior to the entry of Uwan in the Philippine Area of Responsibility, Marcos Jr. declared a national State of Calamity in the Philippines due to typhoon Tino and the then looming super typhoon.

The declaration paves the way for countless members of calamity loan-providing entities to be eligible to the loan offers. They are designed to help the members recover from the impacts of the calamity. Recently, Pres. Bongbong Marcos announced the availability of the SSS Calamity Loan starting this December.

Through a video posted on social media, Marcos Jr. announced the good news for the members of the Social Security System. According to him, the emergency loan will be available starting this December and it comes with a low interest rate.

“Sa lahat ng ating kababayan na SSS member, meron akong magandang balita. Simula itong Disyembre na ito ay makakapagbigay na ang SSS ng tinatawag na emergency loan,” the President said.

According to Marcos Jr., the SSS Calamity Loan comes with a 7% interest rate and a six-month moratorium. Thus, the borrower still has enough time to prepare for the repayment of the borrowed amount.

“Tuloy-tuloy naman po ang pakikipag-ugnayan ko sa SSS upang makahanap ng iba’t iba pang paraan magkaroon ng mas ligtas at makatarungan na alternatibo sa micro loan at emergency loan,” he said.

Furthermore, through the video, Pres. Bongbong Marcos expressed his hope that the SSS Calamity Loan offer will be able to help the Filipino people.

“Maganda po ‘to kasi imbes na pupunta kayo sa 5-6 at mapasubo sa malalim na utang, ay mayroon na kayong magagamit… Sana ito’y makatulong sa inyong lahat,” he said.

Here are the qualifications under the emergency loan offer of the Social Security System:

• has at least thirty-six (36) monthly contributions, six (6) of which should be posted within the last twelve (12) months prior to the month of filing of application;
• has at least six (6) posted monthly contributions under the current coverage/membership type prior to the month of loan application for Self-Employed, Voluntary (including Non-Working Spouse), and Overseas Filipino Worker (SE/VM/OFW) members who are land based;
• has no past due SSS Short-Term Member Loans;
• a resident of the calamity declared areas and suffered damages/loss to their properties. A resident, for the purpose of CLAP, is one who has a home address or property at the calamity-stricken area;
• has not been granted any final benefit, i.e., permanent total disability or retirement;
• member-borrower must be registered in the SSS Website (My.SSS facility) to facilitate filing of online application;
• has no outstanding Loan Restructuring Program (LRP) or Calamity Loan Assistance Program (CLAP)

Aside from the Calamity Loan offer, the Social Security System also has the SSS Salary Loan offer.