The Social Security System (SSS) is waiting for the revised Calamity Loan Program (CLP) guidelines to enable its members living in areas under a state of calamity to avail of loans, Josefa Pineda, SSS Regional Communications Officer, said on Friday, July 25.
“Let’s wait for the guidelines,” she said, following Negros Occidental’s declaration of a statement of calamity on Friday.
The SSS, in a press release Wednesday, said it will issue the revised Calamity Loan Program (CLP) guidelines to help members in areas declared under state of calamity (SOC), especially those affected by Severe Tropical Storm Crising and the southwest monsoon.
The SSS said the revised guidelines include the lower interest rate of 7 percent from the previous 10 percent.
This reduced interest rate is for members with good credit records or applicants who did not avail of penalty condonation for the past five years, it said.
The loanable amount is equivalent to one Monthly Salary Credit (MSC) computed based on the average of the last 12 MSCs, it said.*