The Social Security System on Wednesday said it will release a total of P74 million for calamity loans of members and pensioners in the cities of Marawi and Ormoc.
SSS president and chief executive Emmanuel F. Dooc said in a statement qualified members and pensioners in the two cities can already start availing of the loan facility.
“Our active members and pensioners may avail of as much as P16,000 under the Calamity Loan Assistance Program (CLAP) or based on their average monthly salary credit,” Dooc said.
“The calamity loan is a new and separate loan window from the regular salary loans,” Dooc explained, and “even borrowers who have only paid a few amortizations are allowed to renew their loans.”
There are about 5,600 qualified members in Ormoc and about 1,810 in Marawi. —Ben O. de Vera