Filipinos affected by Typhoon Tino can now borrow up to P20,000 through the Social Security System's Calamity Loan Program, starting Thursday, November 6. The initiative provides quick access to emergency funds for members. Loans are available at a 7% annual interest rate, repayable over 24 months.
In a statement, SSS President and CEO Robert Joseph Montes de Claro said the loan assistance aims to give members quick access to emergency funds. Qualified members may submit applications online through the My.SSS facility, with amounts directly credited to their enrolled disbursement account.
To apply, simply log into your online SSS account at My.SSS. From the menu, click 'Loans' and select 'Calamity Loan' from the drop-down options on the upper left. Then, choose 'CLP - TC TINO' as the loan type. You may also select your preferred loan amount and disbursement bank during the application process.
To qualify, members must live or work in an area declared under a state of calamity, have at least 36 monthly contributions, have an active online SSS account, have no past-due or restructured loans, be 18 to 64 years old, and have no record of fraud with the SSS.
The loan program will last until December 5 while the country recovers from the typhoon's devastating impact. A separate calamity loan program has also been established for affected members by Tropical Storm Ramil in Roxas City and Sigma, Capiz, with applications open until December 4.
According to the National Disaster Risk Reduction and Management Council, Tino affected 2.1 million people across 32 provinces in eight regions, displacing 432,336 individuals, most of whom are staying in evacuation centers. As of Thursday morning, 81 people have died, 72 remain missing, and 81 others were injured. The typhoon also caused an estimated P6.33 million in infrastructure damage.
After evaluating the typhoon's impact, President Ferdinand 'Bongbong' Marcos Jr. declared a state of calamity for the entire country. Such a condition is announced when mass casualties and property damage have affected people's livelihood and everyday life, allowing either the national, provincial, or local government to tap a portion of the quick response fund to speed up recovery efforts.