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Thursday, April 05, 2018

What Is LandBank's OFW Reintegration Program And How To Apply?



Working abroad is not forever. No matter how long our overseas Filipino workers stayed abroad to work, they will eventually come home for good. It is important that they have a source of income or sustainable business or investment to sustain the needs of their family, paying their bills, mortgages, etc. The government has anticipated this scenario and find ways to address the need for a reintegration program for returning OFWs.
LANDBANK and the Overseas Workers Welfare Administration (OWWA) forged a partnership to provide enterprise opportunities for OFWs on a sustainable basis giving birth to LandBank's OFW Reintegration Program.
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Working abroad is not forever. No matter how long our overseas Filipino workers stayed abroad to work, they will eventually come home for good. It is important that they have a source of income or sustainable business or investment to sustain the needs of their family, paying their bills, mortgages, etc. The government has anticipated this scenario and find ways to address the need for a reintegration program for returning OFWs. LANDBANK and the Overseas Workers Welfare Administration (OWWA) forged a partnership to provide enterprise opportunities for OFWs on a sustainable basis giving birth to LandBank's OFW Reintegration Program. Advertisement        Sponsored Links     LandBank OFW Reintegration Program is a program that will provide opportunities for OFWs to engage in business as an alternative to overseas employment.  Eligible Borrowers OFWs certified by OWWA on membership and capacity building program attended   ELIGIBLE PROJECTS  Viable projects with a confirmed market or Purchase Order (if any) that will generate net monthly income of at least P10,000  Loan Purpose Working Capital Fixed Asset Acquisition  Qualified OFWs can avail a minimum loan of P300,000 up to P2,000,000.   Term of Loan Based on cash flow but not to exceed 7 years (inclusive of 2 years grace period)    Loan Security REM Chattel on Machinery & equipment Hold-out on deposit Deed of Assignment on inventory & receivable  LOAN REPAYMENT   Short-Term Loan - maximum of 1-year   Term Loan - based on cash flow but not to exceed 7 years inclusive of a maximum of 2 years grace period on the principal.      REQUIREMENTS   • OWWA certification that borrower is a bonafide overseas worker, has completed Enterprise Development Training   • A business plan for 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 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     HOW TO AVAIL OF A LOAN?   1. Visit the nearest OWWA Office and undergo orientation/necessary training.   2. Secure the required OWWA Certification for submission to LANDBANK.   3. Visit the nearest LANDBANK Lending Center or LANDBANK Branch for more information and evaluation of project proposal.  Read More:  Classic Room Mates You Probably Living With    Remittance Fees To Be Imposed On Kuwait Expats Expected To Bring $230 Million Income    TESDA Provides Training For Returning OFWs  Look! Hut Built For NPA Surrenderees  Cash Aid To Be Given To Displaced OFWs From Kuwait—OWWA    Skilled Workers In The UAE Can Now Have Maximum Of Two Part-time Jobs    Former OFW In Dubai Now Earning P25K A Week From Her Business    Top Search Engines In The Philippines For Finding Jobs Abroad    5 Signs A Person Is Going To Be Poor And 5 Signs You Are Going To Be Rich    ©2018 THOUGHTSKOTO  www.jbsolis.com

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LandBank OFW Reintegration Program is a program that will provide opportunities for OFWs to engage in business as an alternative to overseas employment.

Eligible Borrowers
OFWs certified by OWWA on membership and capacity building program attended

ELIGIBLE PROJECTS
Viable projects with a confirmed market or Purchase Order (if any) that will generate net monthly income of at least P10,000
Loan Purpose
Working Capital
Fixed Asset Acquisition

Qualified OFWs can avail a minimum loan of P300,000 up to P2,000,000.


Term of Loan
Based on cash flow but not to exceed 7 years (inclusive of 2 years grace period)


Loan Security
REM
Chattel on Machinery & equipment
Hold-out on deposit
Deed of Assignment on inventory & receivable

LOAN REPAYMENT 

Short-Term Loan - maximum of 1-year 
Term Loan - based on cash flow but not to exceed 7 years inclusive of a maximum of 2 years grace period on the principal.
Working abroad is not forever. No matter how long our overseas Filipino workers stayed abroad to work, they will eventually come home for good. It is important that they have a source of income or sustainable business or investment to sustain the needs of their family, paying their bills, mortgages, etc. The government has anticipated this scenario and find ways to address the need for a reintegration program for returning OFWs. LANDBANK and the Overseas Workers Welfare Administration (OWWA) forged a partnership to provide enterprise opportunities for OFWs on a sustainable basis giving birth to LandBank's OFW Reintegration Program. Advertisement        Sponsored Links     LandBank OFW Reintegration Program is a program that will provide opportunities for OFWs to engage in business as an alternative to overseas employment.  Eligible Borrowers OFWs certified by OWWA on membership and capacity building program attended   ELIGIBLE PROJECTS  Viable projects with a confirmed market or Purchase Order (if any) that will generate net monthly income of at least P10,000  Loan Purpose Working Capital Fixed Asset Acquisition  Qualified OFWs can avail a minimum loan of P300,000 up to P2,000,000.   Term of Loan Based on cash flow but not to exceed 7 years (inclusive of 2 years grace period)    Loan Security REM Chattel on Machinery & equipment Hold-out on deposit Deed of Assignment on inventory & receivable  LOAN REPAYMENT   Short-Term Loan - maximum of 1-year   Term Loan - based on cash flow but not to exceed 7 years inclusive of a maximum of 2 years grace period on the principal.      REQUIREMENTS   • OWWA certification that borrower is a bonafide overseas worker, has completed Enterprise Development Training   • A business plan for 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 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     HOW TO AVAIL OF A LOAN?   1. Visit the nearest OWWA Office and undergo orientation/necessary training.   2. Secure the required OWWA Certification for submission to LANDBANK.   3. Visit the nearest LANDBANK Lending Center or LANDBANK Branch for more information and evaluation of project proposal.  Read More:  Classic Room Mates You Probably Living With    Remittance Fees To Be Imposed On Kuwait Expats Expected To Bring $230 Million Income    TESDA Provides Training For Returning OFWs  Look! Hut Built For NPA Surrenderees  Cash Aid To Be Given To Displaced OFWs From Kuwait—OWWA    Skilled Workers In The UAE Can Now Have Maximum Of Two Part-time Jobs    Former OFW In Dubai Now Earning P25K A Week From Her Business    Top Search Engines In The Philippines For Finding Jobs Abroad    5 Signs A Person Is Going To Be Poor And 5 Signs You Are Going To Be Rich    ©2018 THOUGHTSKOTO  www.jbsolis.com

REQUIREMENTS 
• OWWA certification that borrower is a bonafide overseas worker, has completed Enterprise Development Training 
• A business plan for 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 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
Working abroad is not forever. No matter how long our overseas Filipino workers stayed abroad to work, they will eventually come home for good. It is important that they have a source of income or sustainable business or investment to sustain the needs of their family, paying their bills, mortgages, etc. The government has anticipated this scenario and find ways to address the need for a reintegration program for returning OFWs. LANDBANK and the Overseas Workers Welfare Administration (OWWA) forged a partnership to provide enterprise opportunities for OFWs on a sustainable basis giving birth to LandBank's OFW Reintegration Program. Advertisement        Sponsored Links     LandBank OFW Reintegration Program is a program that will provide opportunities for OFWs to engage in business as an alternative to overseas employment.  Eligible Borrowers OFWs certified by OWWA on membership and capacity building program attended   ELIGIBLE PROJECTS  Viable projects with a confirmed market or Purchase Order (if any) that will generate net monthly income of at least P10,000  Loan Purpose Working Capital Fixed Asset Acquisition  Qualified OFWs can avail a minimum loan of P300,000 up to P2,000,000.   Term of Loan Based on cash flow but not to exceed 7 years (inclusive of 2 years grace period)    Loan Security REM Chattel on Machinery & equipment Hold-out on deposit Deed of Assignment on inventory & receivable  LOAN REPAYMENT   Short-Term Loan - maximum of 1-year   Term Loan - based on cash flow but not to exceed 7 years inclusive of a maximum of 2 years grace period on the principal.      REQUIREMENTS   • OWWA certification that borrower is a bonafide overseas worker, has completed Enterprise Development Training   • A business plan for 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 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     HOW TO AVAIL OF A LOAN?   1. Visit the nearest OWWA Office and undergo orientation/necessary training.   2. Secure the required OWWA Certification for submission to LANDBANK.   3. Visit the nearest LANDBANK Lending Center or LANDBANK Branch for more information and evaluation of project proposal.  Read More:  Classic Room Mates You Probably Living With    Remittance Fees To Be Imposed On Kuwait Expats Expected To Bring $230 Million Income    TESDA Provides Training For Returning OFWs  Look! Hut Built For NPA Surrenderees  Cash Aid To Be Given To Displaced OFWs From Kuwait—OWWA    Skilled Workers In The UAE Can Now Have Maximum Of Two Part-time Jobs    Former OFW In Dubai Now Earning P25K A Week From Her Business    Top Search Engines In The Philippines For Finding Jobs Abroad    5 Signs A Person Is Going To Be Poor And 5 Signs You Are Going To Be Rich    ©2018 THOUGHTSKOTO  www.jbsolis.com
 HOW TO AVAIL OF A LOAN?
 1. Visit the nearest OWWA Office and undergo orientation/necessary training. 
2. Secure the required OWWA Certification for submission to LANDBANK. 
3. Visit the nearest LANDBANK Lending Center or LANDBANK Branch for more information and evaluation of project proposal.
This article is filed under: OFW News, OFW Reintegration Program, Landbank
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©2018 THOUGHTSKOTO