SSS launches ‘LoanLite’ micro-lending program to fight loan sharks

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The Social Security System (SSS) has unveiled SSS LoanLite, a new micro-lending program in partnership with Union Bank of the Philippines (UnionBank), designed to provide its members with accessible, secure, and affordable short-term credit while offering protection against predatory loan sharks.

The initiative was formally announced during the “Serbisyong NextGen – Celebrating 40 Years of SSS and UnionBank Partnership” event held on September 17, 2025, at the NuStar Hotel and Resort in Cebu.

SSS President and CEO Robert Joseph Montes De Claro and UnionBank President and CEO Ana Aboitiz Delgado led the ceremonial unveiling.

“We’ll be launching something new—a micro loan program for our members powered by UnionBank. This will really help each Filipino, members of SSS, not to fall victims to loan sharks,” De Claro stated in his keynote address, highlighting the program’s vital role in social protection.

UnionBank CEO Delgado echoed this sentiment, calling the micro-loan program a “short-term, socially-responsive loan designed to support members in times of financial need.” The launch marks a significant milestone in the two institutions’ four-decade collaboration, which was also graced by the People’s Governor of Cebu, Pamela S. Baricuatro.

SSS LoanLite is a crucial part of the SSS’s broader digitalization and financial inclusion strategy. It targets Filipino workers, including Overseas Filipino Workers (OFWs), who are often vulnerable to exploitative informal lending practices.

The program aims for massive scale, with a plan to grow the SSS LoanLite loan book to P40 billion within the next two years.

“Through our partnership with UnionBank, we are taking a bold step toward protecting our members from exploitative lending and enhancing their access to responsible financial services,” De Claro added. “SSS LoanLite is more than just a loan—it’s a lifeline for our members during times of need.”

SSS LoanLite at a Glance:

  • Loan amounts tailored to member needs (range between P5,000 to P20,000)
  • 15 to 90-day repayment terms
  • 8% interest rate per annum plus reasonable service fee
  • Fully digital application and approval process
  • Direct crediting to UnionBank accounts or MySSS Card
  • Protection against informal lending and loan sharks

SSS members are encouraged to watch for the official rollout, which is targeted by the end of 2025, with application details to be made available on the SSS website and the UnionBank Online App.

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