President Ferdinand R. Marcos Jr. officially announced on Thursday that the Social Security System (SSS) will begin offering emergency loans this December. The initiative aims to provide immediate financial cushions for Filipino workers as they navigate the impacts of recent national calamities and prepare for year-end needs.
The activation of the loan program follows the issuance of Proclamation No. 1077, which declared a one-year state of national calamity. President Marcos emphasized that the SSS is mandated to provide these “emergency loans” specifically during such periods to ensure members have access to liquid capital for essential goods and recovery efforts.
“Starting this December, the SSS will be able to provide what is called an emergency loan… You can use this loan for your needs, especially in an emergency,” President Marcos stated in a video message to the public.
To ensure the program remains accessible and provides genuine relief, the administration has structured the loan with highly competitive terms compared to private lending options:
| Feature | Details |
| Interest Rate | 7% per annum (Fixed) |
| Payment Holiday | 6-month moratorium on amortizations |
| Purpose | Purchase of essential goods and emergency expenses |
The President highlighted the six-month payment moratorium, noting that borrowers will not have to begin loan repayments for half a year after receiving the funds. “This means that when you receive a loan from the SSS, for the first six months you do not have to pay… so your burden will be lighter,” he added.
A primary goal of this rollout is to steer Filipinos away from informal, high-interest lending schemes, such as the notorious “5-6” system, which often traps low-income households in cycles of debt.
“Instead of going to ‘5-6’ and getting into deep debt, you now have something to use and you only have to pay seven percent,” the President said. He further assured the public that his administration is continuing to coordinate with the SSS to develop even more “safer and fairer” micro-loan alternatives for the future.
Members are encouraged to monitor the official SSS website and mobile app for specific application guidelines starting this December. The program is part of the government’s broader response to the widespread destruction caused by recent natural disasters and ongoing preparation for upcoming weather disturbances.
