by Venus Zoleta, on category "Loans"
September 13, 2018
After being hit by a storm, flood, earthquake, or any natural disaster, all you want to do is get things back to normal. It entails so many expenses: the leaky ceiling needs to be fixed, your flooded car needs repair, you need to make up for the lost income after many absences from work, and so on.
This is where a calamity loan from government agencies like the SSS and Pag-IBIG Fund comes useful.
However, unlike other government-issued loans, SSS and Pag-IBIG calamity loans are special types of loans that can’t be availed anytime and anywhere. They’re released only to members in areas declared under the State of Calamity within a limited period.
Still, it’s worth trying to request financial assistance from these government agencies. Here’s your quick guide to applying for a calamity loan in the Philippines.
The SSS calamity loan is open to any member who meets these criteria:
You can apply for an SSS calamity loan within three months after the SSS issues a circular on providing assistance to affected members. Submit the original copies of the following requirements to the Member Services Section of any SSS branch:
OFW members may assign a representative to file their SSS calamity loan application. SSS requires these additional documents from OFW-borrowers:
You may download the application form, Barangay Certification, and authorization letter here.
For more information about the calamity loan, you may contact SSS through the following:
Any Pag-IBIG member who meets all these criteria can apply for a calamity loan:
Members with an existing Pag-IBIG loan such as housing loan or multi-purpose loan—as long as the loan isn’t in default—may still apply for a calamity loan.
You can apply for the loan within 90 days from the State of Calamity declaration in your area. To file your calamity loan application, go to any Pag-IBIG office and submit the following requirements:
For more information about the calamity loan, you may inquire at the nearest Pag-IBIG branch or call 724-4244.
If your area isn’t under the State of Calamity, you won’t qualify for an SSS or Pag-IBIG calamity loan even if you’re affected by a natural disaster.
Here are some alternatives to consider when you need cash to cover an emergency after a calamity.
Read more: Emergency Loans and Other Ways to Borrow Money When You’re Short of Cash
If you have a car, it helps to get an insurance policy with an Acts of Nature or Acts of God coverage. This will ease your financial burden when your car gets damaged due to flooding or any disaster.