Metro Manila (CNN Philippines, April 28) – PAG-IBIG Fund appealed on Tuesday to its members for understanding amid the slow loan applications processes during the COVID-19 crisis in the country.
PAG-IBIG Fund Vice President for Public Relations and Information Services Group Karin-Lei Franco Garcia said the agency is targeting 20 working days to complete loan applications during the Luzon-wide enhanced community quarantine.
Garcia explained the influx of multipurpose and calamity loans applications during the quarantine period and reduced workforce of PAG-IBIG due to work restrictions amid the COVID-19 pandemic caused the slow processing of such loan applications. Prior to the COVID-19 crisis, the agency could release loans within around two days, she added.
“Sa dalawang combination po yun, medyo matagal po ang aming processing ngayon. Target po namin marelease ang loan proceeds within 20 working days,” said Garcia.
[Translation: With those two combinations, our processing is slow now. We target to release loan proceeds within 20 working days.]
Garcia assured the integrity of the agency’s website, which can handle huge bulk of loan applications during the COVID-19 quarantine.
“As of Monday, nasa ₱860 million na po ang narelease naming loans to around 50,000 members,” added Garcia.
[Translation: As of Monday, we have released ₱860 million worth of loans to around 50,000 members.]
Garcia also bared they are talking with several electronic disbursement facilities to distribute loan proceeds to members who don’t have cash cards or automated teller machine cards.
“Nagpapadala po kami ng text message to tell you kung kailan napasok ang inyong loan proceeds sa ATM,” she told.
[Translation: We are sending text messages to tell you when the loan proceeds are entered into your ATM.]
During the ECQ, PAG-IBIG Fund members can apply for a calamity or multipurpose loan in their website. The requirements for each loan and application steps are also enumerated in their webpage.
To qualify for these loans, members should have paid their contributions for 24 months and paid one in the last six months.
