Moratorium on loan payments as mandated by Republic Act No. 11494 or the Bayanihan to Recover As One Act
In compliance with the Bayanihan to Recover as One Act (RA 11494) and to provide relief to partners during this COVID-19 pandemic, the Peace and Equity Foundation is providing a one time, 60-day grace period for loan payments falling due on September 15 to December 31, 2020. The said 60-day grace period is applicable only for loans on current status as of September 15, 2020. For partners with multiple outstanding promissory notes, some of which may be current and others past due, only the PNs on current status are eligible.
No penalties, charges, or interest on unpaid interest will be imposed for the said grace period. However, the outstanding balance of your loan shall continue to accrue regular interest for the duration of the grace period.
Partners who wish to forego the mandated grace period and opt to instead pay their loans on the scheduled due dates may do so by simply giving instructions to their designated Area Officers. Your payments will directly help sustain PEF’s projects with various social enterprises and non profits across the country.
Our lines are open for any clarification regarding this moratorium or any other matter concerning your projects with us. PEF is committed to assist you in navigating this crisis.
Thank you and stay safe.
For the official letter from the Executive Director, click here: Advisory to partners regarding 60-day loan payment moratorium