SSS approves P15.63 B calamity loans as of July this year

The Social Security System (SSS) has so far approved P15.63 billion in coronavirus disease 2019 (COVID-19) calamity assistance loans as of July 28, 2020.

SSS said another P190.02 million in unemployment insurance benefits (UIB) from July 1 to 27 this year, to tide over workers hit hard by the pandemic’s economic fallout. 

The SSS said it has approved 14,186 applications for the UIB in the said period alone.  

From August 2019 when the SSS started accepting UIB applications, and up to July 27, it has approved a total of 43,347 applications with a combined total of P544.37 million, SSS President-CEO Aurora Cruz Ignacio said.   

Ignacio said the agency has approved more than 1.03 million applications for its Calamity Loan Assistance Package (CLAP) for the COVID-19 outbreak since its online filing was launched last June 15.   

She said that from June 15 to July 28, CLAP applications average P15,144 per claim.   

Ignacio said the Calamity Loan for COVID-19 will run for a period of three months starting June until September 14, 2020 only and online application is now mandatory.   

President Duterte declared a state of national calamity in the country last March 16 as a result of the COVID-19 outbreak.  

The Calamity Loan for COVID-19 carries a 6-percent interest per annum commencing on the 4th month with a 27-month term, inclusive of a 3-month moratorium. 

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