SSS To Launch COVID-19 Calamity Loan Program on the 24th of April

The quarantine which was supposed to end by the 15th of April was extended by country’s very president, Rodrigo Duterte, as no cure has been set out yet.

As a result, several government agencies has stepped in and contributed in providing Filipino citizens with financial programs.

The Department of Labor and Employment (DOLE) for one, has announced to provide salary P5k subsidies to formal sector workers in the private sector.

While, the Department of Social Welfare and Development (DSWD) offered “Social Amelioration Program” (SAP) to poor families.
Now, SSS announced COVID-19 Calamity loan program to be launched on the 24th of April. This was confirmed by SSS Vice President for Public Affairs and Special Events, Fernando F. Nicolas.

As millions of people lost their jobs, SSS members may borrow up to P20k or equivalent to one month-worh salary. This calamity loan is something that people can use for all their financial needs from March to May.

The budget that they’ve had for the SSS COVID-19 calamity loan program would be around P20.4 billion. This will be able to accommodate and assist more or less 1.74 million members.
Members can apply for the SSS COVID-19 calamity program through the online SSS portal or the My.SSS.

The following are the qualifications in order for members to apply for the SSS calamity loan:

  • Members who’ve had at least 36 months of contributions; with six (6) posted within the past 12 months on or before the month of the application.
  • The home address of the member should be at a declared State of Calamity
  • Must not be a delinquent borrower
  • Must have not availed any SSS benefit or claim such as:
  • Permanent disability
  • Death
  • Retirement Program
To be able to apply, members need to prepare the following:

  • Duly accomplished Calamity Loan Assistance Application Form (accessible in the website)
  • Barangay Certification
  • At least one (1) primary ID:
    • Unified Multi-Purpose ID (UMID)
    • Passport
    • Professional Regulation Commission (PRC) ID
    • Seaman’s Book
    • Driver’s License
  • Or two (2) secondary IDs
    • Company ID
    • PhilHealth ID
    • Senior Citizen ID
    • Voter’s ID
    • Taxpayer’s Identification Number (TIN) ID

For Overseas Filipino Workers (OFWs), they can assign a a representative here in the Philippines. That person can be the one to file the SSS COVID-19 Calamity Loan application.

With this, the following are required:

  • Authorization letter from the OFW
  • Scanned and printed copies of valid ID of the OFW plus original valid ID of the representative

Nicolas urged SSS members to apply for bank account if they have none. This is because the loan proceeds would be transferred and sent to the bank accounts of the members anytime.
"Once approved, loan proceeds will be credited through member’s enrolled bank account."

0/Post a Comment/Comments