Inquirer
SSS, UnionBank launch micro loan program
The Social Security System (SSS) has partnered with Union Bank of the Philippines to launch SSS LoanLite, a new micro-lending program aimed at providing affordable and accessible credit to SSS members.
This initiative is designed to protect members, especially those vulnerable to predatory lending practices, from loan sharks.
SSS LoanLite will offer short-term loans with repayment periods ranging from 15 to 90 days.
The program is part of the SSS's broader strategy to enhance digitalization and financial inclusion for its members, including Overseas Filipino Workers (OFWs).
The SSS plans to grow the loan book for SSS LoanLite to P40 billion within the next two years.
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