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According to agency officials, the Pag-IBIG Fund disbursed PHP53.76 billion in cash loans, often known as short-term loans, in 2022, to a record-high 2,612,491 members.

When compared to the PHP44.30 billion in short-term loans provided in 2021, the amount for 2022 grew by 21 percent, or PHP9.46 billion.

With this sum, the number of participants in the program increased by 24 percent, or more than 500,000, over the 2,090,851 participants in 2021.

“At Pag-IBIG Fund, we make every attempt to help our members with their financial requirements. We are pleased to report that, last year, more than 2.6 million Filipino workers were able to obtain additional funds to meet their needs thanks to our short-term loan program. Secretary Jose Rizalino Acuzar, who oversees the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees, said in a statement that all of our efforts are in keeping with President Ferdinand Marcos Jr.’s call to offer the best service to the Filipino people.

The multi-purpose loan (MPL) and catastrophe loan are both parts of the Pag-IBIG Fund’s short-term loan program.

Qualified members of Pag-IBIG can borrow up to 80% of their entire Pag-IBIG Regular Savings, which includes their monthly payments, their employer’s contributions, and accrued dividends, under the Pag-IBIG MPL.

On the other hand, members who live or work in places that have been classified as being in a state of catastrophe are eligible for the calamity loan.

There were PHP49.85 billion in Pag-IBIG MPLs, which benefited 2,313,143 members, and PHP3.91 billion in catastrophe loans, which benefited 299,348 members, out of the total amount of cash loans disbursed by the agency.

Chief Executive Officer of Pag-IBIG Fund Marilene Acosta attributed the organization’s rapid growth to the dependability and accessibility of the MPL and catastrophe loan offered by Pag-IBIG.

Millions of our members depend on our MPL for their immediate financial needs and on our calamity loan to help them reconstruct their life, as we at Pag-IBIG Fund are aware. Because of this, we have improved the accessibility and usability of these lending programs for our members, according to Acosta.

Today, our members can quickly and simply apply for these loans through a variety of channels, including their employers, our more than 200 branches and services offices nationwide, or online using the virtual Pag-IBIG or the virtual Pag-IBIG mobile app. Additionally, we have our Lingkod Pag-IBIG On Wheels traveling the nation and ready to accept loan requests from members, particularly those from underserved and disaster-affected areas.

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