The Social Security System (SSS) has officially launched SSS LoanLite, a new micro-loan program powered by UnionBank of the Philippines (UnionBank), designed to give members quick, safe, and affordable access to credit—without falling prey to loan sharks. Unveiled during the “Serbisyong NextGen – Celebrating 40 Years of SSS and UnionBank Partnership” event in Cebu, the LoanLite program was designed to provide members with short-term loans ranging from ₱5,000 to ₱20,000. With digital applications, 15–90 day repayment terms, and low 8% interest, LoanLite offers Filipino workers an affordable, secure alternative to loan sharks.
According to SSS President and CEO Robert Joseph de Claro, the program is part of the agency’s ongoing commitment to “really help each Filipino member avoid falling victim to loan sharks.”
Program Overview
The SSS LoanLite is a short-term lending option that comes with the following features:
- Loanable amount: ₱5,000 to ₱20,000 (based on credit and contribution records)
- Term: 15 to 90 days repayment period
- Interest: 8% per annum plus minimal service fee
- Application: 100% digital, with quick approval
- Fund release: Direct to UnionBank or MySSS Card
- Purpose: Short-term, low-risk financial assistance
- Goal: Protection against loan sharks
LoanLite applications and approvals will be fully digital, making it one of the most accessible and affordable formal credit options available to members.
According to UnionBank President and CEO Ana Aboitiz Delgado, the program is a “socially responsive loan designed to support members in times of financial need.”
Target Beneficiaries
The program primarily targets people who often rely on informal loans during emergencies which the following:
- Private sector employees who need short-term financial support
- Self-employed workers and freelancers with active SSS contributions
- Voluntary SSS members looking for fast, low-interest credit options
- Overseas Filipino Workers (OFWs) in need of emergency cash assistance
- Minimum wage earners and low-income employees vulnerable to loan sharks
- Small business owners and informal sector workers covered by SSS
- Members with good contribution records but limited access to bank loans
- Individuals needing funds for urgent personal or family expenses (e.g., medical bills, tuition, utilities)
- First-time borrowers who prefer a more flexible and affordable loan option
- Members looking for quick, fully digital loan processing without long queues or paperwork
According to De Claro, this initiative will protect members from predatory lending, which remains common among workers seeking fast cash. He called it “a lifeline for our (SSS) members during times of need.”
How to Apply
Though the launch has happened, the actual LoanLite program will not be officially rolled out until the end of 2025, which will follow the release of the final guidelines for program implementation. By then, all qualified members can apply for the loan online through the SSS website, My.SSS portal, or UnionBank Online App.
Expanding Access and Inclusion
Now, the launch of LoanLite is but a step towards the government’s efforts towards digitalization. Even this launch event is but a step forward as the SSS and UnionBank strive to expand its lending portfolio to ₱40 billion within the next two years. It also marks the continuation of their 40-year collaboration, showcasing how government and private institutions can work together to serve the Filipino people.
“We are proud to be the first banking partner for this initiative. This collaboration shows how public and private institutions can work together to make financial services more accessible and responsible,” Delgado had said.
Cebu Governor Pamela S. Baricuatro, who attended the launch, also praised the partnership, saying it reflects the shared mission of both institutions to deliver inclusive financial services that empower Filipinos.
Video: SSS New Program—SSS LoanLite
For more information on the new SSS LoanLite Program, you may watch this video below:
For updates, SSS members are encouraged to monitor official announcements via the SSS and UnionBank social media pages.