Sa mga SSS Retirement Pensioners, ito na ang kasagutan sa inyong short term financial needs, ang SSS Pension Loan Program (PLP). Narito ang step by step na proseso paano ang pag-apply sa loan para sa mga pensioners natin.
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Ano ba ang SSS Pension Loan Program? Ang mga qualified retirement pensioners na nakabase sa Pilipinas ay maari na mag-apply ng pension loan na hanggang P200,000 na maximum loan amount.
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Paano maqualify sa SSS Pension Loan Program?
1. Walumpu't limang (85) taong gulang o pababa sa katapusan ng termina ng pautang.
2. Walang ibinabawas sa buwanang pensiyon, tulad ng natitirang balanse sa ibang pautang ng SSS, sobrang benepisyong binayaran ng SSS at iba pa.
3. Walang paunang pensiyong natatanggap sa ilalim ng SSS Calamity Package
4. Tumatanggap na ng regular na pensiyon na hindi bababa sa isang (1) buwan at ang status ng pensiyon ay "Active"
Tandaan na kung ang retirement pensioner ay kumuha ng paunang 18 buwang pensiyon, siya ay dapat nakakatanggap na ng kanyang regular pension na hindi bababa sa isang buwan Tandaan rin na ang retirement pensioner na nasa ilalim ng Portability Law o nasa pangangalaga at kustodia ng isang guardian ay hindi maaring mag-apply sa PLP
Narito ang proseso ng pag-apply ng Pensioners Loan Program
1. Pumunta sa pinakamalapit na SSS Branch upang personal na mag-apply ng inyong Pension Loan
2. Ipakita ang orihinal at magsubmit ng photocopy ng alinmang ID lalo na government IDs' na SSS ID, UMID ID Card, Pasaoprte o Voter's ID. Para sa iba pang ID, tingnan sa ibaba.
3. Hintayin ang resulta ng beripikasyon upang malaman kung ang pensyonado ay kwalipikado sa Pensioners Pension Plan.
4. Pumili ng loan amount o loan term na inaaplayan.
5. I-check ang inyong loan borrower information at detalye ng loan.
6. Tanggapin ang cash card or quick card ng napiling bangko at i-enroll ang UMID card as ATM sa alinmang sangay ng Union Bank of the Philippines kiosk na pinakamalapit sa inyong lugar.
7. Lagdaan ang mga sumusunod; Pension Loan Application at Disclosure Statement, Photocopies of the ID submitted
8. Punuan at pirmahan ang supplemental Information Sheet at Terms and Conditions ng napiling bangko.
9. Hintayin sa loob ng limang (5) working days ang loan proceeds na ipapasok sa cashcard o UMID card.
Hanggang kailan babayaran? 24 months or years to pay.
Paano binabase ang mauutang? Depende po sa laki ng binabayad o sa laki ng pension.
Sagot: Kung ninanais na mag 1 month salary loan, kailangan may 36 months na posted na kontribusyon o equivalent na nakapaghulog ng kontribusyon sa loob ng 3 tatlong taon. Kung 2 months na equivalent ng sahod ang ninanais na mailon, kailangan may 72-months na nakapaghulog sa SSS. Para sa kabuuang detalye at mga kasagutan sa mga katanungan andito ang lahat ng Q and A hinggil sa Salary loan ng SSS basahin sa ibaba.
SSS Calamity Loan Assistance Program ( CLAP ) shall be available on April 24th, 2020 through the SSS Website and My.SSS portal. If you are planning to apply for a loan, check the process below.
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WATCH THE VIDEO BELOW TO UNDERSTAND ABOUT THE SSS CALAMITY LOAN ASSISTANCE PROGRAM (CLAP)
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SSS will be offering a maximum of P20,000 Calamity Loan Assistance Program o CLAP to all members and it will be available on the 14th of April, 2020 via the SSS portal My.SSS.
SSS vice president for public affairs and special events Mr. Fernan F. Nicolas told webinar participants last week, April 15, that the SSS will be launching a calamity loan program nationwide they called CLAP for those affected by the quarantine because of the COVID-19 on April 24. The allocated budget for the program is P20 Billion and can accommodate around 1.7Million members
HOW TO APPLY FOR SSS CALAMITY LOAN or CLAP? The application for the loan program would be through the online SSS portalor the MY.SSS. WHAT ARE THE QUALIFICATIONS for CALAMITY LOAN? Members of the SSS can avail of the calamity loan if : At least 36 months of contributions; with six (6) posted within the past 12 months on or before the month of the application. The home address of the member should be at a declared State of Calamity Area Must not be a delinquent borrower Must have not availed any SSS benefit or claim such as: Permanent disability Death Retirement Program Documents needed WHAT TO PREPARE TO APPLY FOR LOAN? Duly accomplished Calamity Loan Assistance Application Form (accessible in the sss.gov website) Barangay Certification At least one (1) primary ID: Unified Multi-Purpose ID (UMID) Passport Professional Regulation Commission (PRC) ID Seaman’s Book Driver’s License Or two (2) secondary IDs Company ID PhilHealth ID Senior Citizen ID Voter’s ID Taxpayer’s Identification Number (TIN) ID FOR OFW, HOW TO APPLY FOR LOAN AND WHAT ARE THE REQUIREMENTS? A proxy or a representative in the Philippines. Authorization letter from the OFW Scanned and printed copies of valid ID of the OFW plus the original valid ID of the representative WHERE TO GET THE LOAN AMOUNT? Loan proceeds will be transferred to a bank account. If you are planning to apply you need to have a bank account. Once approved, loan proceeds will be credited through member’s enrolled bank account.” CHECK BELOW HOW TO CONNECT YOUR BANK ACCOUNT TO YOUR SSS ACCOUNT
WHEN IS THE LOAN PAYABLE? The loan will be payable in 27 months. The payment will be payable after 3 months of loan approval. Loan interest will be 10 percent per annum. View the video graphics below.
CONNECT YOUR BANK ACCOUNT TO YOUR SSS BY FOLLOWING HER ADVICE BELOW.
Good news to all retired pensioners of the Social Security System (SSS). You can now apply for loans under the Pension Loan Program (PLP) of SSS. The PLP was launched last September 3, 2018!
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According to SSS President and Chief Executive Officer Emmanuel Dooc PLP is a response to the clamor from senior citizens who wants a more affordable loan for their short-term needs such as emergency medical expenses. Aside from this, the program aims to end the increasing number of pensioner victimized by some financial institution that offers a loan with the high-interest rate.
Who Can Apply?
Qualified retiree pensioners that are 80 years old and below at the end of the month of the loan term
Pensioners with no outstanding loan balance and benefit overpayment payable to SSS
Pensioners who have no advance pension under SSS Calamity Package and have been receiving their regular monthly pensions for at least six months
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How much is the loanable amount? The minimum loan amount for qualified pensioners is twice the amount equivalent to their basic monthly pension and the additional P1,000 benefit.
The maximum loanable amount is six times their basic monthly pension plus the additional P1,000 benefit, not exceeding a total of P32,000
How much is the interest rate?
10% per annum until fully paid, computed on a diminishing principal balance, which shall become part of the monthly amortization
Payment Scheme The loan repayment term of the loanable amount will be payable in three, six, or 12 months depending on the multiple of the loan amount and will be deducted from the monthly pension of the borrower.
What branches accept loan applications for PLP? 20 SSS Branches will initially accept PLP applications
Diliman
Kalookan
Pasig-Pioneer (Shaw)
New Panaderos (Mandaluyong)
Manila
Makati-Gil Puyat
Alabang
Naga
Dagupan
Baguio
Ilagan
Bacoor
Binan
Cebu
Tacloban
Iloilo Central
Cagayan de Oro
Davao
General Santos
Zamboanga
How to Apply?
To apply, the borrower must apply for the PLP personally at any SSS branch and bring his Social Security Card or Unified Multi-Purpose Identification Card, or any two valid identification cards both with signature and at least one photo.
Upon submission of the identification requirements, the SSS will verify the information provided by the pensioner and if he is eligible to avail of the loan program.
SSS allocates P10 billion as an initial budget for the program. According to Dooc, there are 1.5 million retirees who can avail of the program starting September 3. This article is filed under loan, pensioner's loan, retiree's loan, pension loan, loan program, SSS loan, loan requirement, loan application, loan status, and loan payment. SEE MORE:
No Overseas Filipino Workers (OFWs) wishes to work abroad forever. Working far from your loved one is very hard, but OFWs continue to do so to provide the needs of the family back home.
As OFW we should have a goal on when we should go home for good. But we cannot do this unless we already have a stable income in the Philippines that will be the source of our daily needs.
The Department of Trade and Industry (DTI) is another government agency that is helping Filipinos, including Overseas Filipino Workers (OFWs) who wants to be entrepreneurs. As the DTI advice to OFWs, ‘Try entrepreneurship as an alternative livelihood.’
But the question is how the DTI is helping OFWs or its family to start a new business?
1. Training and Seminars
The DTI has a series of training and seminars that are free to all who wants to learn how to do business or entrepreneurs or those who want their business to grow.
This July, below is the schedule of DTI's training and seminars. Common topics are about starting a business because many people want to start a business but the question is "paano?". The other topic is about enhancing skills, yes we have skills and if it is developed, we can earn from it.
2. Negosyo Centers
One of the directives of President Rodrigo Duterte to DTI is to establish OFW assistance desk in every Negosyo Centers nationwide. Even the president himself encourages OFWs to go into business as he said, "the government is ready to help the OFWs"
The OFW assistance desk role is to give advice to OFWs on what business they can go into depending on their passion, skills, and talents on opportunities that abound around, and on technology available.
DTI together with the Department of Labor and Employment (DOLE) and Department of Trade and Industry (DTI) has a livelihood loan assistance to returning OFWs and their families.
OFWs can apply for a loan assistance amounting to P100,000 and up to P2 million pesos
The program known as OFW-Enterprise Development and Loan Program (OFW-EDLP) was launched last September 2016.
As a member of Social Security System (SSS) you are not just limited to housing and salary loan. Because SSS has several loan programs for those members who want to start a business and those who have a business and want to expand it.
In SSS business loan, you can avail Business Loan Development Facility, Social Development Loan, ASENSO Loan Program and Fixed-Term Credit Facility Loan.
Business Development Loan Facility
The Business Development Loan Facility is a lending facility of the Social Security System (SSS) designed to contribute to the nation's economic growth and development by providing financial assistance to the business sector for the purpose of increasing productivity and enhancing potential earnings through expansion, diversification and other business development projects.
It also aims to support the government's program of invigorating economic activity and providing more employment opportunities.
(Watch:Panayam kay Adelwisa O. Carandang, kaugnay sa SSS Business and Social Loan Programs)
Eligible Borrowers
The eligible borrowers shall be new or existing private industries and enterprises including registered Barangay Micro Business Enterprises (BMBEs) with the following qualifications:
1. Single proprietorship, Partnership or Corporation, as least 60% Filipino owned, including cooperatives and non-governmental organizations;
2. Engaged in any business activities allowed/registered under the Philippine laws such as but not limited to the following:
Manufacturing - garment, ceramics, textile, furniture, construction materials
Commercial Production - particularly of food and basic consumer items and products for export
Service-Oriented Enterprises - transportation, warehousing, utilities, communications, etc.
Tourism Related Projects - hotel, resort, theme park, etc.
Real Estate Development Projects - industrial estate development
Sustainable Energy Projects - construction of green building, waste management system, sewerage treatment plant, etc.
Extractive Industries - mining, quarrying, dredging, oil and gas extraction projects
Forest Development Projects - plantation, reforestation, regeneration and other forest-related projects
Trading Business
Leasing/Lending Business
3. Have proven track record of profitability for existing enterprises; provided that if the company incurred losses in any year during the past three (3) years, the average income of past two (2) or three (3) years should be positive. The three (3) year track record of profitability may be waived for enterprises which started operations during the last five (5) years. In any case, the borrower should be able to justify projection of viable operations with debt-equity ratio not exceeding 3:1 after financing; and
4. Must be an SSS member-employer in good standing.
The borrower is also subject to other criteria and policies which the Social Security Commission may impose from time to time.
Loan Purposes
The loan may be used for the following purposes:
Site development;
Enhancement or modernization of existing facilities;
Construction or repair of building and other civil works;
Acquisition or repair/upgrading of machinery and equipment including furnishings;
Acquisition of existing facilities;
Acquisition of land (up to 50% of the acquisition cost); or
Working capital
Social Development Loan Facility
The Social Development Loan Facility is a lending facility of the Social Security System (SSS) designed to provide long-term loan assistance for the development of facilities and establishments of institutions that provides quality education or other academic training programs and affordable medical or health care related services to the general population and to SSS members and their dependents.
It also aims to support the program of the national government to attain a better distribution of educational and hospital facilities throughout the country that will be more responsive to the needs of the particular localities and their inhabitants.
Eligible Borrowers
1. New or existing private medical institutions licensed by the Department of Health (DOH) either as primary, secondary and tertiary hospital including institutions for the aged or infirmed individuals.
2. New or existing private educational institutions, i.e. toddler/day care learning center, preparatory/elementary/secondary schools, collegiate/university level, school for special educations (SPED) as well as vocational and technical institutes which are duly licensed by the Department of Education (DepEd), Technical Education and Skills Development Authority (TESDA), Commission on Higher Education (CHED) and Department of Social Welfare and Development (DSWD).
3. At least 60% Filipino-owned corporation/partnership/single entity
4. Have proven track record of profitability for existing enterprises; provided that if the company incurred losses in any year during the past three (3) years, the average income of past two (2) or three (3) years should be positive. The three (3) year track record of profitability may be waived for enterprises which started operations during the last five (5) years. In any case, the borrower should be able to justify projection of viable operations with debt-equity ratio not exceeding 3:1 after financing; and
5. Must be an SSS member-employer in good standing.
6. The borrower is also subject to other criteria and policies which the Social Security Commission may impose from time to time.
Loan Purposes
The loan may be used for the following purposes:
Site development;
Enhancement or modernization of existing facilities;
Construction or repair of building and other civil works;
Acquisition or repair/upgrading of machinery and equipment including furnishings and other educational materials;
Acquisition of existing facilities;
Acquisition of land (up to 50% of the acquisition cost); or
Working capital
Where to avail Business Development Loan and Social Development Loan
SSS member-employers may avail of the loan facility through the SSS accredited participating financial institutions (PFIs) which will on-lend the fund to eligible borrowers for financing.
The loan application shall be filed with any of the following SSS' accredited participating financial institutions (PFIs):
BDO Unibank, Inc. 6/F Equitable PCI Bank Tower 1, Makati City Contact Person: Ms. Vivian D. de Chavez - Senior Manager Tel. Nos. 878-4567; 878-4570 (fax)
Development Bank of the Philippines Sen Gil Puyat Ave., Makati City Contact Persons: Mr. Jose Pepito A. Yusingbo - Manager and Officer-in-Charge,SME Unit Ms. Leonore L. Tianco Tel. Nos. 812-9932; 818-9511 loc. 2305
Land Bank of the Philippines Land Bank Plaza, 1598 M. H. del Pilar, Malate, Manila Contact Person: Ms. Lina Soriano - Program Officer Tel. Nos. 405-7640; 522-2200; 551-2200; 405-7198
Philippine National Bank 3/F PNB Financial Center Pres. Diosdado Macapagal Blvd. Pasay City Contact Person: Ms. Katrina Jane O. Mayoca - Asst. Manager 2, Financial Institutions Division Tel. Nos. 573-4661; 526-3131 loc. 4661
Philippine Veterans Bank 101 V.A. Rufino St. Legaspi Village, Makati City Contact Persons: Mr. Plato C. Tirol - Officer-in-Charge, Investment Banking Division Ms. Karina P. Rodriguez - Account Officer Mr. Edward S. Lectura - Account Analyst Tel. Nos. 846-5933 loc. 2101, 2105 and 2118
Planters Development Bank 314 Buendia Ave., Makati City Contact Person: Ms. Quennie Medrano - Senior Manager Tel. No. 884-7600 loc. 5183
LOANABLE AMOUNT
(Business Development Loan and Social Development Loan)
The maximum loanable amount shall be the lowest of the following, provided the borrower's debt-equity ratio after financing shall not exceed 3:1 and that its total loan with the SSS shall not be more than five percent (5%) of the SSS Investment Reserve fund (IRF):
1. Amount of loan being applied;
2. Actual need of the borrower (total project cost)
3. Loan value of the assigned collateral or securities; or
4. Maximum of P500.0 million per borrower.
INTEREST RATE
The interest rate of the loan may be variable or fixed based on the prevailing SSS pass-on rate to PFI plus PFI's spread. The prevailing interest rates shall be reviewed monthly.
TERM OF THE LOAN
The loan shall be payable monthly, quarterly, semi-annually or annually based on the PFI's approved amortization schedule and shall have a maximum term of fifteen (15) years with a three (3) year grace period on principal payment.
The loan with a term of more than fifteen (15) years and a grace period of more than three (3) years may be allowed for loans to be used to finance projects in extractive industries and forest development related projects including those with exceptional cases that require longer tenor, provided, the term will not exceed twenty-five (25) years.
ACCEPTABLE COLLATERALS
The loan shall be secured by any collateral acceptable both to the PFIs and the SSS provided the loan is fully secured.
PREPAYMENT PENALTY
No pre-termination fee/penalty shall be charged in case of pre-payment of the loan.
(Watch:[Good Morning Boss] Usapang SSS: SSS business and social development loans facility)
Fixed-Term Credit Facility
The Fixed-Term Credit Facility is a lending facility of the Social Security System (SSS) designed to provide sustainable fixed-term credit facility to SSS-accredited participating financial institutions (PFIs) for re-lending to eligible private enterprises in order to improve and hasten their operations for a more globally competitive market.
It also aims to enhance the facilitation and flow of credit for the business sector to support the organization and expansion as well as rehabilitation of business operation.
Eligible Borrowers
The eligible borrowers/end-user must be an SSS member-employer in good standing.
The borrower is also subject to other criteria and policies which the Social Security Commission may impose from time to time.
Loan Purposes
The loan may be used for any purposes provided approved by the PFI.
How to Apply
The PFI shall submit a letter of intent to avail of the loan together with the Term Sheet.
LOANABLE AMOUNT
The loanable amount is the sub-limit of the omnibus credit line (OCL) but should not exceed 80% of approved OCL of PFIs (net of availments).
INTEREST RATE
The interest rate of the loan shall be the prevailing fixed rate.
TERM OF THE LOAN
The loan shall be payable quarterly, semi-annually or annually and shall have a minimum term of five (5) years up to fifteen (15) years inclusive of a maximum five (5) years grace period on principal payment.
The loan with a term of more than fifteen (15) years up to twenty-five (25) may be allowed for special projects.
ACCEPTABLE COLLATERALS
The loan shall be secured by any collateral acceptable both to the PFIs and SSS or subject to the following:
PFIs
Acceptable Collateral/s
Loan Amount
SSS Depository Banks
Partially Secured
Up to Php1.5 B or 80% of OCL?s Sub-Limit
Fully Secured
Up to the extent of the balance of the approved OCL
UBs/KBs and its affiliated leasing companies and Thrift Banks
Fully Secured
Up to the extent of the balance of the approved OCL
PRE-TERMINATION FEE
A pre-termination fee of one-half of one percent (½ of 1%) percent of the loan shall be charged in case of pre-payment of loan within the first five (5) years.
MANNER OF AVAILMENT/RELEASES
The manner of availment/releases shall be in batches of not less than Php10.0 million. The SSS shall release the loan through Real-time Gross Settlement (RTGS) or through direct transfer of the fund to the PFis depository bank which should be an SSS depository bank.
PENALTY FEE
Any principal and/or interest not paid on due date shall bear an additional interest at the rate of one and one-half (1½%) percent per month computed from the due date until fully paid. Access of Small Enterprises to Sound Lending Opportunities (ASENSO)
The Access of Small Enterprises to Sound Lending Opportunities (ASENSO) formerly SULONG Program by the government financial institutions (GFIs) is designed to give small and medium enterprises (SMEs) greater access to short and long-term funds by simplifying and standardizing the lending procedures.
Eligible Borrowers
All industries except trading of imported goods, liquor and cigarettes and extractive industries like mining, quarrying, etc.
SSS member-employer in good standing
Single proprietorship, partnership or corporation, at least 60% Filipino owned
With asset size of not more than P100.0 million excluding the value of the land
Have positive income for the previous year. If the previous year’s income is negative, the average income of the past 2 or 3 years should be positive
Have a Debt-Equity Ratio at most of 80:20 after the loan or 70:30, if franchisee
Loan Purposes
1. For Short-Term Loan:
Export Financing
Credit Line or as temporary working capital
2. For Long-Term Loan:
Purchase of equipment
Building construction
Purchase of lot
Purchase of inventories or as a permanent working capital
LOANABLE AMOUNT
For Short-Term Loan
The loanable amount shall be 70% of the value of the Letter of Credit (LC)/Purchase Order (PO) for export financing or 70% of the working capital requirement, up to a maximum of Php5.0 million.
For Long Term Loan
The Loanable amount shall be 80% of the incremental project cost, up to a maximum of Php5.0 million.
INTEREST RATE
The interest rate of the loan may be variable or fixed based on the prevailing SSS pass-on rate to PFI plus PFI's spread. The prevailing interest rates shall be reviewed monthly.
TERM OF THE LOAN
For Short-Term Loan
The loan shall have a maximum term of one (1) year payable monthly.
For Long Term Loan
The loan shall have a maximum term of five (5) years, inclusive of a maximum one (1)-year grace period on principal monthly amortization.
ACCEPTABLE COLLATERALS
For Short-Term Loan
Registered/Unregistered Real Estate Mortgage (REM)/Chattel Mortgage (CM)
Assignment of LC/PO (for Export financing)
Guarantee Cover
Corporate Guarantee (for Credit Line, if franchisee)
Assignment of Lease Rights (for Credit Line, if franchisee)
For Long Term Loan
Registered/Unregistered REM/CM
Corporate Guarantee (if franchisee)
Assignment of Lease Rights (if franchisee)
The loan shall be secured by any collateral acceptable both to the PFIs and the SSS provided the loan is fully secured.
PREPAYMENT PENALTY
No pre-termination fee/penalty shall be charged in case of pre-payment of the loan.
For more information, please visit the Housing and Business Loans Department, 5th Floor, SSS Main Building, East Ave., Diliman Quezon City or you may call telephone number 920-6401 local 5115 or 5129, or e-mail at desilvamt@sss.gov.ph or carandangao@sss.gov.ph
