Republic of the Philippines

SOCIAL SECURITY SYSTEM

DISCLOSURE STATEMENT
MEL-01519(04-2021) ON LOAN/CREDIT TRANSACTION
CALAMITY LOAN
(As Required under R.A 3765 Truth in Lending Act)

SS Number: 34-5733120-6
Name of Borrower: PEARL ANN TEMBRIVILLIA LEDESMA
ER ID Number: 03-9221252-2
ER Name: SONAK SPORTS SPECIALISTS INC
ER Address: SONAK CENTRE 2ND FLR KM 18 WEST SVC RD MARCELO GREEN PQUE

CALAMITY LOAN DETAILS

1. LOAN AMOUNT P15,000.00
2. OTHER CHARGE(S)/DEDUCTION(S) P164.38
a. Service Fee (1% of loan amount) P0.00
b. Advance Interest P164.38
c. Balance of previous loan as of 11/21/2024 13:13:04, if any P0.00
3. NET PROCEEDS OF LOAN(item 1 less item 2) P14,835.62
4. SCHEDULE OF PAYMENTS

Applicable Month Due Date Amount Outstanding

Principal
Amortization Interest Principal Balance
P 15,000.00
1 Jan-25 28-Feb-25 P 692.17 P 125.00 P 567.17 P 14,432.83
2 Feb-25 31-Mar-25 P 692.17 P 120.27 P 571.90 P 13,860.93
3 Mar-25 30-Apr-25 P 692.17 P 115.51 P 576.66 P 13,284.27
4 Apr-25 31-May-25 P 692.17 P 110.70 P 581.47 P 12,702.80
5 May-25 30-Jun-25 P 692.17 P 105.86 P 586.31 P 12,116.49
6 Jun-25 31-Jul-25 P 692.17 P 100.97 P 591.20 P 11,525.29
7 Jul-25 31-Aug-25 P 692.17 P 96.04 P 596.13 P 10,929.16
8 Aug-25 30-Sep-25 P 692.17 P 91.08 P 601.09 P 10,328.07
9 Sep-25 31-Oct-25 P 692.17 P 86.07 P 606.10 P 9,721.97
10 Oct-25 30-Nov-25 P 692.17 P 81.02 P 611.15 P 9,110.82
11 Nov-25 31-Dec-25 P 692.17 P 75.92 P 616.25 P 8,494.57
12 Dec-25 31-Jan-26 P 692.17 P 70.79 P 621.38 P 7,873.19
13 Jan-26 28-Feb-26 P 692.17 P 65.61 P 626.56 P 7,246.63
14 Feb-26 31-Mar-26 P 692.17 P 60.39 P 631.78 P 6,614.85
15 Mar-26 30-Apr-26 P 692.17 P 55.12 P 637.05 P 5,977.80
16 Apr-26 31-May-26 P 692.17 P 49.82 P 642.35 P 5,335.45
17 May-26 30-Jun-26 P 692.17 P 44.46 P 647.71 P 4,687.74
18 Jun-26 31-Jul-26 P 692.17 P 39.06 P 653.11 P 4,034.63
19 Jul-26 31-Aug-26 P 692.17 P 33.62 P 658.55 P 3,376.08
20 Aug-26 30-Sep-26 P 692.17 P 28.13 P 664.04 P 2,712.04
21 Sep-26 31-Oct-26 P 692.17 P 22.60 P 669.57 P 2,042.47
22 Oct-26 30-Nov-26 P 692.17 P 17.02 P 675.15 P 1,367.32
23 Nov-26 31-Dec-26 P 692.17 P 11.39 P 680.78 P 686.54
24 Dec-26 31-Jan-27 P 692.17 P 5.63 P 686.54 P .00
Total P 16,612.08 P 1,612.08 P 15,000.00
5. EFFECTIVE INTEREST RATE 10.47% per annum
6. CONDITIONAL CHARGES MAYBE IMPOSED
a. Continuing Interest of 10% per annum against Outstanding Balance after the loan term.
b. Penalty of 1% per month against unpaid loan amortization.

This is a system-generated Disclosure Statement on Loan/Credit Transaction and does not require a signature from SSS.
 TERMS AND CONDITIONS FOR CALAMITY LOAN ASSISTANCE
PROGRAM (CLAP)
(SSC Res. No. 526-s.2024 dated 31 October 2024 and Res. No. 567-s. 2024 dated 15 November 2024)

A. SCOPE OF THE PROGRAM

Members who are residents of the calamity-stricken areas as declared and may be declared by the National
Disaster Risk Reduction and Management Council (NDRRMC).

B. AVAILMENT PERIOD
The availment period shall commence on the date of issuance of the Circular and shall remain effective for
thirty (30) calendar days thereafter, unless otherwise extended or modified by subsequent official circulars.

C. ELIGIBILITY
To avail of the program, the members:
1. Must be registered in the SSS website (My.SSS facility) to facilitate filing of online application.
2. Must have at least thirty-six (36) monthly contributions, six (6) of which should be posted within the last
twelve (12) months prior to the month of filing of application.
3. Must have at least six (6) posted monthly contributions under the current coverage/membership type prior
to the month of loan application for Self-Employed, Voluntary (including Non-Working Spouse), and
Overseas Filipino Worker (SE/VM/OFW) members who are land based.
4. Must be residents of the calamity-stricken areas. A resident, for the purpose of Calamity Loan Assistance
Program, is one who has a home address in the calamity-stricken area.
5. Must have not been granted any final benefit, i.e., permanent total disability or retirement.
6. Must have no past due SSS Short-Term Member Loans.
7. Must not have an outstanding Loan Restructuring Program (LRP) or CLAP.
8. If employed, the employer must certify the CLAP application thru online (My.SSS facility).

D. LOAN AMOUNT
The loan amount shall be equivalent to one (1) monthly salary credit (MSC) computed based on the average of
the last twelve (12) MSC (rounded up to the nearest thousand) or the amount applied for, whichever is lower.

E. PAYMENT TERM AND DEADLINE OF PAYMENT

1. The loan shall be payable within two (2) years in twenty-four (24) equal monthly installments
2. The loan amortization shall start on the 2nd month following the date of the approval of the loan.
3. Payment deadline shall be on or before the last day of the month following the applicable month.
4. In case the payment deadline falls on a Saturday, Sunday or holiday, payment may be made on the next
working day.
5. Payment shall be made through any payment channel (SSS Automated Tellering System, SSS-
accredited banks and Non-Bank Collection Facilities).

F. SERVICE FEE, INTEREST AND PENALTY

1. The service fee of 1% of the loan amount shall be waived.
2. The loan shall be charged an interest rate of 10% per annum until fully paid, computed on a diminishing
principal balance and shall be amortized over a period of twenty-four (24) months
3. Pro-rated interest from the date of loan granting up to the end of the month prior to first amortization
month shall be deducted in advance from the loan proceeds.
Sample Illustration:
Loan date: 15 November 2024
First amortization month: January 2025
Loan amount: Php 16,000.00
Interest from 16 November to 31 December 2024
Php 16,000.00 x 10% x 45 days /365 = Php 197.26
Php 197.26 shall be deducted from loan proceeds.

4. Any excess in the amortization payment shall be applied to the outstanding principal balance.
5. Loan amortization not remitted on due date shall bear a penalty of 1% per month.
G. FILING OF APPLICATION
The member must apply for CLAP through the SSS website by accessing his/her My.SSS account.

H. UPDATING OF MEMBER'S HOME ADDRESS

Per SSC Resolution No. 333-s.2023, members who will update their home address to a calamity-declared area
during the CLAP availment period shall personally submit a properly filled out Member Data Change Request
Form (MDCR/SSS Form E-4) to nearest SSS Branch/Service Office supported by any of the following
documents:
a. Government-issued ID bearing the address and signature of the member
b. Proof of billing statement in the name of the member (i.e., electric, water or telephone bill) with any
government-issued ID bearing the member’s signature.
The address and signature in the presented proof must match the new address and signature reflected in the
MDCR/SSS Form E-4.

I. RESPONSIBILITIES OF THE EMPLOYER

1. The employer shall certify through online (My.SSS facility) the loan application of their employees and
shall attest to the following:
a. The member is presently employed by the employer or the company
b. The member’s net take-home pay is sufficient to cover the deduction of the loan monthly amortization
2. The employer shall be responsible for the collection through payroll deduction and remittance to the SSS
of the amortization due on the employed member’s loan.
3. In case the employed member is separated voluntarily (e.g., retirement or resignation) or involuntarily
(e.g., termination of employment or cessation of operations of the company) from the company, the
employer shall deduct the total balance of the loan from any benefit/s due the employee and shall remit
the same in full to SSS.
4. The employer shall report to the SSS the effective date of no earnings from the company of the employed
member and its corresponding reason, through Payment Reference Number (PRN) - Loan Collection List
(LCL) under the Real-Time Processing of Loans (RTPL) program, if the salary or benefit/s of the
employed member is/are insufficient to fully repay his/her loan.
5. The employer shall require a new employee to secure an updated statement of account through his/her
My.SSS account, deduct the amortization due from his/her salary and remit the payment to SSS.

J. RESPONSIBILITIES OF THE MEMBER

1. The member shall update his/her contact information, as follows:
a. For home address
a.1 by submitting a properly filled out MDCR/SS Form E-4 to the nearest SSS Branch/Service
Office.
b. For other contact information
b.1 by logging in to his/her My.SSS account through the SSS website or mobile application, or
b.2 by submitting a properly filled out MDCR/SS Form E-4 to the nearest SSS Branch/Service
Office.
2. A member who transfers employment shall automatically authorize his/her new employer to deduct from
his/her salary the corresponding amortization due, including any interest/or penalty for late remittance.

K. OTHER CONDITIONS
1. This loan must be fully paid before the member can avail of future calamity loans of SSS.
2. Any overpayment on a previous loan shall be automatically applied to the active loan, if any.
3. Aggregate unpaid obligation equivalent to more than six (6) monthly amortizations shall result in loan
default. The full balance of a defaulted loan shall become due and demandable. A defaulted account is
subject to 10% interest per annum to be charged on the outstanding principal balance and 1% penalty per
month on unpaid principal and interest until fully paid.
4. In case the member-borrower fails to immediately pay the outstanding balance, the arrearages/unpaid
loan, as well as the interest and penalty thereon, shall be deducted from the future benefits being claimed
by the member or granted to the beneficiaries.

L. RELEASE OF LOAN PROCEEDS

The loan proceeds of the loan program may be released through any of the following:
1. Unified Multi-Purpose Identification (UMID) – Automated Teller Machine (ATM) Card:
- If with activated UMID-ATM, the loan proceeds shall automatically be credited to member’s account.
2. Philippine Electronic Fund Transfer System and Operations Network (PESONet) Accredited/Participating
Banks:
 - Active single account in any PESONet accredited banks in the name of the member shall be enrolled in
the Disbursement Account Enrollment Module and shall be used as mode of disbursement for CLAP
application by accessing the member’s My.SSS account.

R.A.3765, OTHERWISE KNOWN AS "TRUTH IN LENDING ACT"

A DISCLOSURE STATEMENT ON LOAN TRANSACTION SHALL BE ISSUED BY SSS TO THE
MEMBER-BORROWER UPON APPROVAL OF HIS/HER CALAMITY LOAN ASSISTANCE PROGRAM
APPLICATION.