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Saturday, December 09, 2017

WATCH:How to Apply for OFW-EDLP Loan from P100K to P2 Million?

Since working abroad is not forever, Overseas Filipino Workers (OFW) or their family must invest in something that can generate income for their future.  It may be a small business or properties that will sustain a family when the time comes that OFW will eventually come home for good.  The Overseas Workers Welfare Administration (OWWA) in partnership with the Land Bank of the Philippines has a program that aims to help OFWs and their families in the establishment of viable business enterprises that will provide them with a steady income and create employment opportunities in their community.
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Since working abroad is not forever, Overseas Filipino Workers (OFW) or their family must invest in something that can generate income for their future.

It may be a small business or properties that will sustain a family when the time comes that OFW will eventually come home for good.

The Overseas Workers Welfare Administration (OWWA) in partnership with the Land Bank of the Philippines has a program that aims to help OFWs and their families in the establishment of viable business enterprises that will provide them with a steady income and create employment opportunities in their community.


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This is called Overseas Filipino Workers - Enterprise Development and Loan Program (OFW-EDLP).

Who is Eligible for the Program?

1. An OFW who is a certified OWWA Member, active or non-active, and has completed the Enhanced Entrepreneurial Development Training or EEDT.

2. OFWs who are working abroad may be represented by the following:

  • If single, widow or widower; or separated-in-fact, by:
i. Parents who are not more than sixty (60) years old upon
maturity of the loan; or
ii. Children who are at least eighteen (18) years old at the
time of loan availment.
  • If married, by the legal spouse

3. OFW returnees may avail of the loan program within three years from the date of arrival to the Philippines, except on cases where the OFW-applicant has an on-going business prior to the time of application. 

4. Only one (1) OFW per family, within the first degree of consanguinity or affinity (parent, spouse, child), shall be eligible to apply under the program.



5. Group of OFWs who formed themselves into business entity, either as partnerships, corporations or cooperatives, and has at least 3 years track record of profitable operations, provided that all partners/stockholders/directors/ officers/ members are OFWs who have been certified as OWWA Members and have completed then EEDT.
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How Much is the Loanable Amount?
A. For Individual Loan Borrowers (single proprietorship)

  • Minimum – Php100,000.00 Maximum – Php2,000,000.00
B. For Group Loan Borrowers (partnerships, corporations or cooperatives)
  • Minimum – Php100,000.00 Maximum – Php5,000,000.00

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How About the Interest Rate?
  • 7.5% per annum fixed for the duration of the loan.
How Long Can I Pay The Loan?
A. Short-Term Loan – maximum of one (1) year.

B. Term Loan – based on cash flow but not to exceed seven (7) years, inclusive of maximum of two (2) years grace period.


Here are the steps to avail the loan program:

STEP 1. Verification of OWWA Registration

1. For OFWs still outside the Philippines

  • You can email the Welfare Officer of the Embassy that covers your country of work about the OFW Reintegration Program.
  • The Welfare Officer will verify your registration in OWWA as an OFW.
  • Upon verification, the Welfare Officer in the Embassy will refer the OFW to an OWWA office in the Philippines
  • Upon returning to the Philippines, the OFW must visit the OWWA office to get the certification
  • This certification will be presented to Landbank.
2. For OFWs already in the Philippines
  • Visit the nearest OWWA office to verify your eligibility to the program
  • If the OFW is eligible, a certification of membership will be issued, which will be presented to Landbank for assessment.

STEP 2. Enterprise Development Training
  • An eligible OFW will be advised to personally attend the Enterprise Development Training (EDT) conducted by OWWA, DTI, and Landbank
  • The OFW must present the certificate of attendance on the EDT to Landbank as part of the requirement.
STEP 3. Preparation of Business Plan and other requirements

The OFW must prepare the business plan and other requirements of Landbank

* Processing requirements for the loan
  • OWWA certification that the borrower is a bonafide overseas worker and has completed EDT
  • A business plan on the specific project that will generate income for OFW and his/her family
  • With contract growing agreement, purchase order or service contract, if applicable
  • Certificate of Registration with DTI
  • Bio-data of OFW applicant
  • Mayor's permit
  • Income tax return (last 3 years), if applicable
  • Financial statements (last 3 years, BIR-filed), if applicable
  • Latest Interim Financial Statement, if applicable
  • Statement of Assets and Liabilities
STEP 4. Submission of Processing Requirements, Review, and Inspection
  • Submit your business plan and other requirements to Landbank for review.
  • Inspection of your business (if already existing) will be done
STEP 5. Approval of Loan
  • If approved, Landbank will release the fund to the OFW.


Interested but have more questions? Visit the nearest OWWA office in your area for clarifications regarding this program and also for guidance.
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