President Ferdinand R. Marcos Jr. announced last week (December 18) that the Social Security System (SSS) will offer emergency loans to its members this month, to provide them immediate assistance to purchase essential needs.
“Simula itong Disyembre na ito ay makakapagbigay na ang SSS ng tinatawag na emergency loan dahil habang nasa ilalim halimbawa ng national emergency ay magbibigay ng emergency loan ang SSS,” President Marcos said in a video message.
“Magagamit po ninyo itong loan na ito para sa inyong pangangailangan lalo na kagaya ng aking nabanggit ay pagka emergency, ito po ang makukuha ninyo sa SSS,” the President added.
According to the President, the loan has a low 7 percent interest rate and comes with a six-month payment moratorium.
“Ibig sabihin, pagtanggap ninyo ng loan galing sa SSS, sa unang anim na buwan hindi kayo kailangan magbayad para sa loan amortization para naman mapagaan ang inyong dala,” the President said.
The Chief Executive added he continues to coordinate with SSS to find more ways to provide safer and fairer alternative micro loan and emergency loans for Filipinos.
“Maganda po ito kasi imbes na pupunta po kayo sa ‘5-6’ at mapasubo sa malalim na utang ay mayroon na kayong magagamit at ang babayaran lang ay seven percent lamang. Kaya sana ito ay makatulong po sa inyong lahat,” the President said, referring to the predatory money lending scheme commonly availed of by low-income households.
President Marcos last November 6 declared a one-year state of national calamity under Proclamation No. 1077, in response to widespread destruction from calamities and in preparation for upcoming natural disasters.