GSIS reopens COVID-19 emergency loan program

State-run Government Service Insurance System (GSIS) announced the reopening the COVID-19 Emergency Loan program to its members and pensioners.

In a statement, Rolando Ledesma Macasaet, GSIS president and general manager, said the COVID-19 Emergency Loan program is now accepting applications beginning today until December 27 this year.

Ledesma said GSIS reopened the loan window after President Rodrigo Duterte signed Proclamation No. 1021 extending the state of calamity in the country due to the pandemic.

To date, there are still 700,000 of GSIS 1.3 million qualified members and pensioners who have yet to file their emergency loan application.

“Hopefully, the threemonth application period will give them ample time to prepare the requirements and submit them to us,” Macasaet said.

“We are mobilizing our resources to help members and pensioners who need financial assistance. Of the ₱43.01 billion that we have set aside for this loan facility, we have already released ₱18 billion to nearly 600,000 of them,” he added.

Under the COVID-19 Emergency Loan program, qualified borrowers with existing emergency loan may borrow up to ₱40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of ₱20,000.

Those without existing emergency loan may apply for ₱20,000. However, those who have already availed of the COVID-19 emergency loan are no longer qualified to apply.