Now OFWs Can Loan from OWWA

My husband is working for five years in Saudi Arabia. I would like to start a business with a small investment. My husband's income is not enough for our growing family. I would like to know if there is a loan that can be availed in OWWA and how much is available and requirements?

Mrs.Edel Mayrina
Muntinlupa City

There is a P2 billion worth of OWWA OFW Reintegration program for those who want to build a business.

The Overseas Workers Welfare Administration (OWWA) in partnership with the Development Bank of the Philippines (DBP) and Land Bank of the Philippines lenders qualified OWWA members.

It aims to help OFWs and their families.

OFWs may be able to avail of loan:

Viable project that will generate a net monthly income of at least Php10,000

Loan amount:

P300,000- to P2.000,000- na may interest rate na 7.5% annually.

Payments:

Monthly/Quarterly/Annually depending on the project cash flow.

Where to apply:

You may apply at any OWWA Regional Welfare Office (ORW)

Eligibility requirements:

Be an active member of the OWWA have completed the Entrepreneurial Development Training (EDT) conducted by NRCO and OWWA ORWs in cooperation with the Department of Trade and Industry / Philippine Trade Training Center (PTTC) / Bureau of Micro, Small and Medium Enterprise Development (BSMED).
Provide 20% equity
Project must generate net income of at least Php10,000 for the OFW and their family.

For more information please visit:
http://www.owwa.gov.ph:8080/wcmqs/programs_services/Reintegration%20Program/FAQ+Reintegration+Program