The Social Security System is preparing to offer microloans to its members through a new program, marking its entry into the consumer lending market.
The government pension fund signed a memorandum of understanding with San Francisco-based fintech company Standard Economics to develop and roll out the SSS Micro Loan Program.
SSS president and CEO Robert Joseph M. de Claro signed the pact with Standard Economics president and CEO Evan Stanley Jones.
Bangko Sentral ng Pilipinas regulations define microfinance loans as small, unsecured facilities granted mainly on a borrower’s cash-flow capacity rather than collateral. They target low-income individuals and micro-entrepreneurs for livelihood or working-capital needs. The central bank caps the principal of regular microfinance loans at ₱150,000, with flexible repayment terms that can be daily, weekly, semi-monthly or monthly.
The SSS has yet to release specifics on loan sizes, interest rates, borrower eligibility, repayment schedules or implementation timeline.
Microfinance loans outstanding totaled ₱36.9 billion in 2025, benefiting roughly 2 million borrowers via 126 banks, according to BSP data. The sector reached 92.2% of local government units, including 62.5% of unbanked areas.
The program could broaden formal credit access for SSS members and help curb dependence on informal lenders that typically impose steeper borrowing costs.
