The Social Security System (SSS) has opened up calamity loans of up to P20,000 for victims of Typhoon ‘Tino’ in Cebu.
The SSS is accepting loan applications until Dec 5. The loan is intended to provide immediate access to emergency funds for qualified SSS members in the province. The loan carries a 7-percent interest rate, payable over 24 months. Applications can be sent through SSS’s online facility.
Once approved, the loan will be wired directly to their enrolled disbursement account.
Cebu bore the brunt of the typhoon, with the death toll already reaching 71. As of Nov. 4, 53 cities and towns in Cebu have been placed under a state of calamity in the aftermath of Tino.
According to the National Disaster Risk Reduction and Management Council (NDRRMC), the typhoon affected 200,000 families and 700,000 individuals.
Typhoon Tino exited the Philippine area of responsibility at 12:30 a.m. on Thursday. /rwd