SAN FERNANDO CITY, La Union (PIA) — The Pag-IBIG Fund La Union branch is now accepting applications for calamity loan from its members following the declaration of the province of La Union under a State of Calamity due to Super Typhoon Carina.
This calamity loan assistance seeks to offer prompt financial assistance to Pag-IBIG Fund members residing in areas affected by calamities, as declared by the provincial board on Aug. 6 through Sangguniang Panlalawigan Resolution No. 1230-2024.
The Provincial Government of La Union reported an estimated total cost damage of ₱86,888,248.70 to agriculture, ₱1,661,910.00 to livestock and poultry industry, ₱17 million to infrastructure, and ₱15,007,720.00 to tourism sector due to the weather disturbance.
Rachael Gallano, Pag-IBIG La Union branch head, reported as of Aug. 19, a total of 1,126 calamity loan applications are already processed, disbursing more than ₱25 million within the province.
Further, the agency has earmarked ₱90 million for short-term loans including calamity loan assistance to members who were affected by the typhoon.
To avail of the calamity loan, qualified members must have at least 24 monthly contributions and must not be in default in their payments of the Pag-IBIG Multi-Purpose Loan.
Members may avail of the loan up to eighty percent of their total accumulated savings, at an annual interest rate of 5.95 percent, the lowest in the market.
To download copies of the required forms, borrowers may visit Pag-IBIG official website at http://www.pagibigfund.gov.ph.
They must submit an application form and two valid IDs, with at least one bearing an address as proof of their residence in the area declared under a state of calamity.
Loan applications may be submitted online through the Virtual Pag-IBIG and at the agency’s branch located at Government Center, Brgy. Sevilla, San Fernando City, La Union.
Borrowers should have an account either with the Land Bank of the Philippines or Union Bank where the loan will be deposited.
The availability of the calamity loan must be within a period of ninety (90) days from the declaration of calamity.
“When calamities strike, here in Pag-IBIG La Union Branch understands that our members in our province need financial assistance. Thus, we assure that all our services and benefits remain accessible to our members. So, we are encouraging them to avail this assistance,” Gallano said. (AMB/MJTAB/KJCR, PIA La Union)
