Emergency loans offered to calamity victims

The GSIS emergency loan is P20,000 payable in 3 years at 8% interest. #emergencyloan #calamityloan #GSISloan #SSSloan

GSIS is also offering general insurance and the GSIS Financial Assistance Loan to members not living in places under a state of calamity. (DT)

The Government Service Insurance System (GSIS) on Wednesday announced that its members living in areas under state of calamity can avail of P20,000 emergency loan payable in easy terms.

“Entitled po dito lahat ng mga miyembro ng [Entitled are all members of] GSIS who are working in the areas which have been declared as calamity or residing threat as well as the pensioners. Twenty thousand po ang loan na ito [Its totaled P20, 000] plus 3 years to pay po at 8% ang interest lang po, napakababa pa [and an interest of 8%, which is very low],” GSIS Senior Vice President Joseph Philip Andres said during the weekly economic press briefing in Malacañang.

To avail of the loan, Andres said a copy of the declaration of a state of calamity whether it’s national or local plus a request from the city or municipal council asking for the granting of the said loan should be submitted.

Andres said general insurance and the GSIS Financial Assistance Loan are also available for members, including pensioners, not living in calamity zones.

Meanwhile, Landbank First Vice President Emily Tamayo, said the bank offers loans similar to that of the GSIS emergency loan to those affected by man-made or natural calamities.

“Ito ay mga pautang [These are loans] working capital, term loan, rediscounting, livelihood financing at concessional rates po ito – mahaba ang term, mababa ang interest at ito po ay naibibigay namin sa lahat mga nasalanta ng kalamidad na officially declared po ng LGU (local government unit) or ng national government [the term is long, the interest is low and we give this to all who were affected by calamities which are officially declared by the LGU or national government,” Tamayo said.

“Ito pong kalamidad na ‘to eh whether man-made or natural, kagaya po noong mga ASF (Asian Swine Flu) so lahat po ‘yan puwede rin po naming i-cater dito sa CARES program namin,” she added.

Tamayo said the interest for farmers is pegged at 5 percent and for borrowers it is 6 percent.

“Pwede rin po kaming magkaroon ng grace period, mayroon din po kaming [We have a grace period and we also have) differed interest at mayroon din po kaming mahabang pautang [we also have long loans]. In other words po, concessional po ang rates and terms po nitong CARES program for as long as ito pong mga borrowers namin ay nasalanta talaga ng mga calamities,” she said.

Meanwhile, PhilGuarantee Senior Vice President Celso Gutierez said the institution helps in the rehabilitating the businesses of small businessmen.

“Mayron kaming mga programa na para matulungan sila at patuloy silang tulungan ng mga private banks. Kasi nakikipag-kuwan kami sa private banks, hindi diretso sa lender. Tinutulungan namin sila para magpatuloy na magpautang ng concessional rates, mahaba iyong repayment terms, para makabawi iyong mga negosyante namin,” Gutirez said.

PhilGuarantee is a merger of five organizations and programs under the government namely Phil Exim or Trade and Investment Development Corporation of the Philippines, Home Guarantee Corporation (HGC), Industrial Guarantee Loan Fund, Agricultural Guarantee Fund Pool and Guarantee Function of Small Business Corporation.

With regards to the HGC portion, Gutierez said they help those who were affected by calamities if they need to buy or transfer to another place.

“Iyong mga property po ng Home Guarantee Corporation ay puwedeng bilhin at 10% down payment, 6% interest and up to 15 years to pay. Mayroon din tulong ang Home Guarantee Function namin na kung nasalanta at kailangang bumili ng panibagong bahay. Puwede rin pong mag-avail ng guarantee mula sa Home Guarantee Corporation through the private banks,” Gurierez said.

“And lastly, mayroon kaming programa na kung talagang kailangang i-restructure iyong loan ng housing, eh matutulungan namin siya para iyong bangko ay magkaroon ng leeway na habaan iyong repayment,” he added.

With regards to food production, they have what they call agricultural guarantee fund pool.

“Iyon ay talagang tumutulong sa mga maliliit nating farmers para makabawi naman sila kung nasalanta sila ng mga ganitong calamity. So, iyon po ang tulong ng PhilGuarantee,” he said.

Social Security Security (SSS) representative Boobie Ocay said the SSS has a special calamity package comprising of three programs with the most popular being the Calamity Loan Assistance Program (CLAP).

Ocay said CLAP is a one month loan to all bonafide members of SSS payable in 24 months at 10% interest.

“Ang pangalawang package po ay para naman sa aming mga pensioners. Ito po ay advance three months pension sa ating mga pensioners at ang huli naman po ay direct house repair moratorium na may moratorium on interest rate payment for six months – iyon po ang tatlong package ng SSS ngayon,” Ocay said.

“Ngayon po ay may ongoing program para sa nasalanta ng earthquake sa Mindanao, ito po ay ongoing starting November 18 up to Feb 20, 2020. Ongoing po ang mangyayari sa nakaraang Bagyong Tisoy. So, ito po ay tuloy-tuloy na project ng SSS, ito ang calamity package namin,” Ocay added.