President Ferdinand “Bongbong” Marcos Jr. announced on Thursday, December 18 that qualified Social Security System (SSS) members may now avail of emergency loans following the declaration of a one-year state of national calamity, offering a safer alternative to predatory lending during crisis situations.
“Simula itong Disyembreng ito ay makakapagbigay na ang SSS ng tinatawag na emergency loan dahil habang nasa ilalim ng national emergency ay magbibigay ng emergency loan ang SSS,” Marcos said in a video message.
Under the program, eligible members may apply for loans with a seven-percent annual interest rate and a six-month moratorium on repayments.
“Ibig sabihin, pagtanggap ninyo ng loan galing sa SSS, sa unang anim na buwan ay hindi kayo kailangang magbayad ng loan amortization para mapagaan ang inyong dala,” the President said.
Marcos emphasized that the emergency loan is designed to help Filipinos meet urgent needs without falling into unmanageable debt.
“Maganda po ito kasi imbes na pupunta kayo sa 5-6 at mapasubo sa malalim na utang, may magagamit na kayo at seven percent lamang ang babayaran. Sana ay makatulong ito sa inyong lahat,” he said.
He added that the government will continue working with the SSS to expand fair and transparent emergency financing options, especially during disasters.
Earlier, Marcos signed Proclamation No. 1077 on November 5, declaring a one-year state of national calamity to accelerate rescue, relief, recovery, and rehabilitation efforts after the widespread damage caused by Typhoon Tino.
The declaration also allows the government to impose price ceilings, prevent hoarding, and mobilize public funds to support affected communities.