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Showing posts with label Refinance Loan. Show all posts
Showing posts with label Refinance Loan. Show all posts

Thursday, January 25, 2018

All You Need To Know About OFW and Personal Loan




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With much eagerness to work abroad due to lack of job opportunities and inadequate salary in their homeland, Filipinos resort to availing loans for their placement fees and other job seeking-related expenses. In this regard, many private  lending companies and banks offer specific loan service designed for individuals who are going abroad for work. It is called an OFW loan. 

  OFW Loan Defined
An OFW loan is a financial assistance agreement catering to Overseas Filipino Workers currently with existing working  contract or are about to be deployed to the country where they will be working. It is technically a type of personal, car, business, house or bank loan with special terms and conditions to suit the needs of the OFWs and/or their families.

 Who Are Qualified To Avail?
OFWs with the appropriate work documents can apply for loans when needed. 

With much eagerness to work abroad due to lack of job opportunities and inadequate salary in their homeland, Filipinos resort to availing loans for their placement fees and other job seeking-related expenses. In this regard, many private lending companies and banks offer specific loan service designed for individuals who are going abroad for work. It is called an OFW loan. OFW Loan Defined An OFW loan is a financial assistance agreement catering to Overseas Filipino Workers currently with existing working contract or are about to be deployed to the country where they will be working. It is technically a type of personal, car, business, house or bank loan with special terms and conditions to suit the needs of the OFWs and/or their families. Who Are Qualified To Avail? OFWs with the appropriate work documents can apply for loans when needed. Loan Reasons That Could Be Approved Banks and financial institutions has their some unique terms and conditions as well as policies when it comes to the kind of loans they offer. Some of the valid reasons why OFW borrow money that could get approval from lending companies are as follows: —Purchasing a car —Buying a new house —For work related expenses —Starting a new business —For personal or emergency matters Sponsored Links What are the qualifications and requirements needed in applying for OFW Loan? Different loan companies and banks has various requirements and qualifications. Here are the usual qualifications and requirements needed: -Applicant has to be between 21- 65 years old/ -Must be working abroad fro at least 2 years. *For the newly deployed OFWs, you can directly ask your preferred loan provider for the requirements as it may vary from company to company. -You must submit the completed loan application form (which will be provided by the loan company). -If the loan application is done by the person other than the OFW on his/her behalf, a Special Power Of Attorney (SPA) has to be submitted. -Proof of employment duly certified by the Philippine Embassy or consulate of your host country. It may include but not limited to work contract, payslip etc.. -Certified statement of expenses and income. -Beneficiary information form Why lenders require at least one co-borrower? Having a co-borrower will essentially give lenders a guarantee that they have someone to run after in case you (the principal borrower) miss your payments. It may also increase your leverage of being approved with your loan application. There are banks and private financial company that offer OFW loans. Make sure you are dealing with legitimate ones. Read More: 10 Reasons Why Filipinos Love Canada Comparison Of Savings Account In The Philippines: Initial Deposit, Maintaining Balance And Interest Rates Per Annum Mortgage Loan: What You Need To Know Passport on Wheels (POW) of DFA Starts With 4 Buses To Process 2000 Applicants Daily Did You Apply for OFW ID and Did You Receive This Email? Jobs Abroad Bound For Korea For As Much As P60k Salary Command Center For OFWs To Be Established Soon ©2018 THOUGHTSKOTO www.jbsolis.com SEARCH JBSOLIS, TYPE KEYWORDS and TITLE OF ARTICLE at the box below

Loan Purposes That Could Be Approved

Banks and financial institutions has their some unique terms and conditions as well as policies when it comes to the kind of loans they offer. Some of the valid reasons why OFW borrow money  that could get approval from lending companies are as follows:
—Purchasing a car
—Buying a new house
—For work related expenses
—Starting a new business
—For personal or emergency matters

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With much eagerness to work abroad due to lack of job opportunities and inadequate salary in their homeland, Filipinos resort to availing loans for their placement fees and other job seeking-related expenses. In this regard, many private lending companies and banks offer specific loan service designed for individuals who are going abroad for work. It is called an OFW loan. OFW Loan Defined An OFW loan is a financial assistance agreement catering to Overseas Filipino Workers currently with existing working contract or are about to be deployed to the country where they will be working. It is technically a type of personal, car, business, house or bank loan with special terms and conditions to suit the needs of the OFWs and/or their families. Who Are Qualified To Avail? OFWs with the appropriate work documents can apply for loans when needed. Loan Reasons That Could Be Approved Banks and financial institutions has their some unique terms and conditions as well as policies when it comes to the kind of loans they offer. Some of the valid reasons why OFW borrow money that could get approval from lending companies are as follows: —Purchasing a car —Buying a new house —For work related expenses —Starting a new business —For personal or emergency matters Sponsored Links What are the qualifications and requirements needed in applying for OFW Loan? Different loan companies and banks has various requirements and qualifications. Here are the usual qualifications and requirements needed: -Applicant has to be between 21- 65 years old/ -Must be working abroad fro at least 2 years. *For the newly deployed OFWs, you can directly ask your preferred loan provider for the requirements as it may vary from company to company. -You must submit the completed loan application form (which will be provided by the loan company). -If the loan application is done by the person other than the OFW on his/her behalf, a Special Power Of Attorney (SPA) has to be submitted. -Proof of employment duly certified by the Philippine Embassy or consulate of your host country. It may include but not limited to work contract, payslip etc.. -Certified statement of expenses and income. -Beneficiary information form Why lenders require at least one co-borrower? Having a co-borrower will essentially give lenders a guarantee that they have someone to run after in case you (the principal borrower) miss your payments. It may also increase your leverage of being approved with your loan application. There are banks and private financial company that offer OFW loans. Make sure you are dealing with legitimate ones. Read More: 10 Reasons Why Filipinos Love Canada Comparison Of Savings Account In The Philippines: Initial Deposit, Maintaining Balance And Interest Rates Per Annum Mortgage Loan: What You Need To Know Passport on Wheels (POW) of DFA Starts With 4 Buses To Process 2000 Applicants Daily Did You Apply for OFW ID and Did You Receive This Email? Jobs Abroad Bound For Korea For As Much As P60k Salary Command Center For OFWs To Be Established Soon ©2018 THOUGHTSKOTO www.jbsolis.com SEARCH JBSOLIS, TYPE KEYWORDS and TITLE OF ARTICLE at the box below
What are the qualifications and requirements needed in applying for OFW Loan?

Different  loan companies and banks has various requirements and qualifications. Here are the usual qualifications and requirements needed:

-Applicant has to be between 21- 65 years old/

-Must be working abroad fro at least 2 years.
*For the newly deployed OFWs, you can directly ask your preferred loan provider for the requirements as it may vary from company to company.

-You must submit the completed loan application form (which will be provided by the loan company).

-If the loan application is done by the person other than the OFW on his/her behalf, a Special Power Of Attorney (SPA) has to be submitted.

-Proof of employment duly certified by the Philippine Embassy or consulate of your host country. It may include but not limited to work contract, payslip etc..

-Certified  statement of expenses and income.



-Beneficiary information form

Why lenders require at least one co-borrower?

Having a co-borrower will essentially give lenders a guarantee that they have someone to run after in case you (the principal borrower) miss your payments. It may also increase your leverage of being approved with your loan application.



There are banks and private financial company that offer OFW loans. Make sure you are dealing with legitimate ones. 

 This article is filed under: Small Personal Loans Low Interest Rate, Refinance Loan, College Loans, Jumbo Loan, Get A Personal Loan



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Thursday, January 18, 2018

Banks That Offer Loan Programs For OFWs



Bangko Sentral ng Pilipinas (BSP) data shows that Overseas Filipino Workers remittances in 2017 amounted to $ 25.318 billion. Being called as "modern heroes", OFWs continue to keep the Philippine economy afloat while providing the needs of theitr family back home. The government has formulated and implement different programs and assistance for them through OWWA and other government entities as an appreciation for what their sector has been doing for the nation . Aside from government efforts to help the OFW, there are private financial institutions that offer loan packages specifically designedn for OFWs. Could it be a business loan, a personal loan, housing loan, or car loan, these banks are willing to extend their arms and reach the OFWs: 1. Bank of the Philippine Islands (BPI) BPI offers variety of loan facilities for both land-based and sea-based migrant workers. This includes Personal Loan up to P1 million, Housing Loan, and Auto Loan designed for OFWS. To apply, you must be a Filipino citizen and 21 years old and above and not more than 60 years at the time of loan maturity. You must also submit government-issued IDs and your latest and unexpired POEA contract or current employment contract with boarding date. Visit www.bpiloans.com to apply online. 2. BDO Unibank (BDO) BDO established the Asenso Kabayan Program to provide financial assistance to OFWs who wish to apply for a home, auto, or personal loan. BDO bank loan requirements are: borrower must be at least 25 years old but not more than 65 years by the time your loan matures and employed for at least two and three years for skilled workers and domestic helpers, respectively. You can also download BDO application form for loan on their website, www.bdo.com.ph 3. Chinabank Chinabank offers Overseas Kababayan Services, which provides secure, reliable, and competitive products that allow you to manage your remittances, investments, and personal needs. This includes home loan, car loan, and personal loans as well. To apply for China Bank OFW loan, requirements include age of borrower between 21 and 65 years old upon maturity of loan and should not have any adverse credit findings like unpaid loans, cancelled credit cards, or bouncing checks among others. Visit www.chinabank.ph for more information about their loan facilities. Sponsored Links 4. Philippine National Bank (PNB) “You First” is PNB’s tagline. True to its promise, PNB came up with Global Filipino program for OFWs. They offer auto loan and home loan for your family and avail of any of the facilities even when you are working overseas through their branches outside the Philippines. Similar to other banks, you must be at least 21 years old to avail of any of the loan facilities and must not exceed 65 years old at the time of maturity. You must also be working abroad for at least two years to qualify. Know more about PNB’s Global Filipino program here. 5. Philippine Savings Bank (PSBank) PSBank is also committed in providing overseas Filipino workers with facilities that could enhance your life. Aside from the savings account and remittance facilities, PSBank also has home and car loan products for OFWs. Apart from the basic requirements such as age and term of employment, don’t forget to submit your Job Contract, proof of remittances for at least three months, and consularized Certificate of Employment. Check out PSBank’s loan facilities in their website. 6. RCBC Savings Bank (RCBC) Whether it is a housing loan, car loan, personal loan, or a loan to help you start your business, RCBC got you covered. They provide flexible terms as well to make payment easier and more convenient for you. You can learn more about RCBC’s consumer loans by checking out their website. Check the loan facilities offered by various banks and ask about their interest rates and payment terms to help you decide which bank is the best one for you. Read More: Mortgage Loan: What You Need To Know Passport on Wheels (POW) of DFA Starts With 4 Buses To Process 2000 Applicants Daily Did You Apply for OFW ID and Did You Receive This Email? Jobs Abroad Bound For Korea For As Much As P60k Salary Command Center For OFWs To Be Established Soon ©2018 THOUGHTSKOTO www.jbsolis.com SEARCH JBSOLIS, TYPE KEYWORDS and TITLE OF ARTICLE at the box below
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Bangko Sentral ng Pilipinas (BSP) data shows that  Overseas Filipino Workers remittances in 2017 amounted to $ 25.318 billion. Being called as "modern heroes", OFWs continue to keep the Philippine economy afloat while providing the needs of theitr family back home. 
The government has formulated and implement different programs and assistance for them through OWWA and other government entities as an appreciation for what their sector has been doing for the nation .

Aside from government efforts to help the OFW, there are private financial institutions that offer loan packages specifically designed for OFWs. 

Could it be a business loan, a personal loan, housing loan, or car loan, these banks are willing to extend their arms and reach the OFWs:
Bangko Sentral ng Pilipinas (BSP) data shows that Overseas Filipino Workers remittances in 2017 amounted to $ 25.318 billion. Being called as "modern heroes", OFWs continue to keep the Philippine economy afloat while providing the needs of theitr family back home. The government has formulated and implement different programs and assistance for them through OWWA and other government entities as an appreciation for what their sector has been doing for the nation . Aside from government efforts to help the OFW, there are private financial institutions that offer loan packages specifically designedn for OFWs. Could it be a business loan, a personal loan, housing loan, or car loan, these banks are willing to extend their arms and reach the OFWs: 1. Bank of the Philippine Islands (BPI) BPI offers variety of loan facilities for both land-based and sea-based migrant workers. This includes Personal Loan up to P1 million, Housing Loan, and Auto Loan designed for OFWS. To apply, you must be a Filipino citizen and 21 years old and above and not more than 60 years at the time of loan maturity. You must also submit government-issued IDs and your latest and unexpired POEA contract or current employment contract with boarding date. Visit www.bpiloans.com to apply online. 2. BDO Unibank (BDO) BDO established the Asenso Kabayan Program to provide financial assistance to OFWs who wish to apply for a home, auto, or personal loan. BDO bank loan requirements are: borrower must be at least 25 years old but not more than 65 years by the time your loan matures and employed for at least two and three years for skilled workers and domestic helpers, respectively. You can also download BDO application form for loan on their website, www.bdo.com.ph 3. Chinabank Chinabank offers Overseas Kababayan Services, which provides secure, reliable, and competitive products that allow you to manage your remittances, investments, and personal needs. This includes home loan, car loan, and personal loans as well. To apply for China Bank OFW loan, requirements include age of borrower between 21 and 65 years old upon maturity of loan and should not have any adverse credit findings like unpaid loans, cancelled credit cards, or bouncing checks among others. Visit www.chinabank.ph for more information about their loan facilities. Sponsored Links 4. Philippine National Bank (PNB) “You First” is PNB’s tagline. True to its promise, PNB came up with Global Filipino program for OFWs. They offer auto loan and home loan for your family and avail of any of the facilities even when you are working overseas through their branches outside the Philippines. Similar to other banks, you must be at least 21 years old to avail of any of the loan facilities and must not exceed 65 years old at the time of maturity. You must also be working abroad for at least two years to qualify. Know more about PNB’s Global Filipino program here. 5. Philippine Savings Bank (PSBank) PSBank is also committed in providing overseas Filipino workers with facilities that could enhance your life. Aside from the savings account and remittance facilities, PSBank also has home and car loan products for OFWs. Apart from the basic requirements such as age and term of employment, don’t forget to submit your Job Contract, proof of remittances for at least three months, and consularized Certificate of Employment. Check out PSBank’s loan facilities in their website. 6. RCBC Savings Bank (RCBC) Whether it is a housing loan, car loan, personal loan, or a loan to help you start your business, RCBC got you covered. They provide flexible terms as well to make payment easier and more convenient for you. You can learn more about RCBC’s consumer loans by checking out their website. Check the loan facilities offered by various banks and ask about their interest rates and payment terms to help you decide which bank is the best one for you. Read More: Mortgage Loan: What You Need To Know Passport on Wheels (POW) of DFA Starts With 4 Buses To Process 2000 Applicants Daily Did You Apply for OFW ID and Did You Receive This Email? Jobs Abroad Bound For Korea For As Much As P60k Salary Command Center For OFWs To Be Established Soon ©2018 THOUGHTSKOTO www.jbsolis.com SEARCH JBSOLIS, TYPE KEYWORDS and TITLE OF ARTICLE at the box below
1. Bank of the Philippine Islands (BPI)
BPI offers variety of loan options both for land-based and sea-based OFWs such as Personal Loan up to P1 million, Housing Loan, and Auto Loan.

Visit www.bpiloans.com to apply online.

Bangko Sentral ng Pilipinas (BSP) data shows that Overseas Filipino Workers remittances in 2017 amounted to $ 25.318 billion. Being called as "modern heroes", OFWs continue to keep the Philippine economy afloat while providing the needs of theitr family back home. The government has formulated and implement different programs and assistance for them through OWWA and other government entities as an appreciation for what their sector has been doing for the nation . Aside from government efforts to help the OFW, there are private financial institutions that offer loan packages specifically designedn for OFWs. Could it be a business loan, a personal loan, housing loan, or car loan, these banks are willing to extend their arms and reach the OFWs: 1. Bank of the Philippine Islands (BPI) BPI offers variety of loan facilities for both land-based and sea-based migrant workers. This includes Personal Loan up to P1 million, Housing Loan, and Auto Loan designed for OFWS. To apply, you must be a Filipino citizen and 21 years old and above and not more than 60 years at the time of loan maturity. You must also submit government-issued IDs and your latest and unexpired POEA contract or current employment contract with boarding date. Visit www.bpiloans.com to apply online. 2. BDO Unibank (BDO) BDO established the Asenso Kabayan Program to provide financial assistance to OFWs who wish to apply for a home, auto, or personal loan. BDO bank loan requirements are: borrower must be at least 25 years old but not more than 65 years by the time your loan matures and employed for at least two and three years for skilled workers and domestic helpers, respectively. You can also download BDO application form for loan on their website, www.bdo.com.ph 3. Chinabank Chinabank offers Overseas Kababayan Services, which provides secure, reliable, and competitive products that allow you to manage your remittances, investments, and personal needs. This includes home loan, car loan, and personal loans as well. To apply for China Bank OFW loan, requirements include age of borrower between 21 and 65 years old upon maturity of loan and should not have any adverse credit findings like unpaid loans, cancelled credit cards, or bouncing checks among others. Visit www.chinabank.ph for more information about their loan facilities. Sponsored Links 4. Philippine National Bank (PNB) “You First” is PNB’s tagline. True to its promise, PNB came up with Global Filipino program for OFWs. They offer auto loan and home loan for your family and avail of any of the facilities even when you are working overseas through their branches outside the Philippines. Similar to other banks, you must be at least 21 years old to avail of any of the loan facilities and must not exceed 65 years old at the time of maturity. You must also be working abroad for at least two years to qualify. Know more about PNB’s Global Filipino program here. 5. Philippine Savings Bank (PSBank) PSBank is also committed in providing overseas Filipino workers with facilities that could enhance your life. Aside from the savings account and remittance facilities, PSBank also has home and car loan products for OFWs. Apart from the basic requirements such as age and term of employment, don’t forget to submit your Job Contract, proof of remittances for at least three months, and consularized Certificate of Employment. Check out PSBank’s loan facilities in their website. 6. RCBC Savings Bank (RCBC) Whether it is a housing loan, car loan, personal loan, or a loan to help you start your business, RCBC got you covered. They provide flexible terms as well to make payment easier and more convenient for you. You can learn more about RCBC’s consumer loans by checking out their website. Check the loan facilities offered by various banks and ask about their interest rates and payment terms to help you decide which bank is the best one for you. Read More: Mortgage Loan: What You Need To Know Passport on Wheels (POW) of DFA Starts With 4 Buses To Process 2000 Applicants Daily Did You Apply for OFW ID and Did You Receive This Email? Jobs Abroad Bound For Korea For As Much As P60k Salary Command Center For OFWs To Be Established Soon ©2018 THOUGHTSKOTO www.jbsolis.com SEARCH JBSOLIS, TYPE KEYWORDS and TITLE OF ARTICLE at the box below
2. BDO Unibank (BDO)

BDO established the Asenso Kabayan Program which provide financial assistance to OFWs who want to apply for a home, auto, or personal loan.
 BDO application form for loan can be downloaded from their website, www.bdo.com.ph
Bangko Sentral ng Pilipinas (BSP) data shows that Overseas Filipino Workers remittances in 2017 amounted to $ 25.318 billion. Being called as "modern heroes", OFWs continue to keep the Philippine economy afloat while providing the needs of theitr family back home. The government has formulated and implement different programs and assistance for them through OWWA and other government entities as an appreciation for what their sector has been doing for the nation . Aside from government efforts to help the OFW, there are private financial institutions that offer loan packages specifically designedn for OFWs. Could it be a business loan, a personal loan, housing loan, or car loan, these banks are willing to extend their arms and reach the OFWs: 1. Bank of the Philippine Islands (BPI) BPI offers variety of loan facilities for both land-based and sea-based migrant workers. This includes Personal Loan up to P1 million, Housing Loan, and Auto Loan designed for OFWS. To apply, you must be a Filipino citizen and 21 years old and above and not more than 60 years at the time of loan maturity. You must also submit government-issued IDs and your latest and unexpired POEA contract or current employment contract with boarding date. Visit www.bpiloans.com to apply online. 2. BDO Unibank (BDO) BDO established the Asenso Kabayan Program to provide financial assistance to OFWs who wish to apply for a home, auto, or personal loan. BDO bank loan requirements are: borrower must be at least 25 years old but not more than 65 years by the time your loan matures and employed for at least two and three years for skilled workers and domestic helpers, respectively. You can also download BDO application form for loan on their website, www.bdo.com.ph 3. Chinabank Chinabank offers Overseas Kababayan Services, which provides secure, reliable, and competitive products that allow you to manage your remittances, investments, and personal needs. This includes home loan, car loan, and personal loans as well. To apply for China Bank OFW loan, requirements include age of borrower between 21 and 65 years old upon maturity of loan and should not have any adverse credit findings like unpaid loans, cancelled credit cards, or bouncing checks among others. Visit www.chinabank.ph for more information about their loan facilities. Sponsored Links 4. Philippine National Bank (PNB) “You First” is PNB’s tagline. True to its promise, PNB came up with Global Filipino program for OFWs. They offer auto loan and home loan for your family and avail of any of the facilities even when you are working overseas through their branches outside the Philippines. Similar to other banks, you must be at least 21 years old to avail of any of the loan facilities and must not exceed 65 years old at the time of maturity. You must also be working abroad for at least two years to qualify. Know more about PNB’s Global Filipino program here. 5. Philippine Savings Bank (PSBank) PSBank is also committed in providing overseas Filipino workers with facilities that could enhance your life. Aside from the savings account and remittance facilities, PSBank also has home and car loan products for OFWs. Apart from the basic requirements such as age and term of employment, don’t forget to submit your Job Contract, proof of remittances for at least three months, and consularized Certificate of Employment. Check out PSBank’s loan facilities in their website. 6. RCBC Savings Bank (RCBC) Whether it is a housing loan, car loan, personal loan, or a loan to help you start your business, RCBC got you covered. They provide flexible terms as well to make payment easier and more convenient for you. You can learn more about RCBC’s consumer loans by checking out their website. Check the loan facilities offered by various banks and ask about their interest rates and payment terms to help you decide which bank is the best one for you. Read More: Mortgage Loan: What You Need To Know Passport on Wheels (POW) of DFA Starts With 4 Buses To Process 2000 Applicants Daily Did You Apply for OFW ID and Did You Receive This Email? Jobs Abroad Bound For Korea For As Much As P60k Salary Command Center For OFWs To Be Established Soon ©2018 THOUGHTSKOTO www.jbsolis.com SEARCH JBSOLIS, TYPE KEYWORDS and TITLE OF ARTICLE at the box below
3. Chinabank 

Overseas Kababayan Services from Chinabank is a loan program which provides secure, reliable, and competitive products that allow you to manage your remittances, investments, and personal needs.

For more information about their loan facilities visit www.chinabank.ph.

Sponsored Links

Bangko Sentral ng Pilipinas (BSP) data shows that Overseas Filipino Workers remittances in 2017 amounted to $ 25.318 billion. Being called as "modern heroes", OFWs continue to keep the Philippine economy afloat while providing the needs of theitr family back home. The government has formulated and implement different programs and assistance for them through OWWA and other government entities as an appreciation for what their sector has been doing for the nation . Aside from government efforts to help the OFW, there are private financial institutions that offer loan packages specifically designedn for OFWs. Could it be a business loan, a personal loan, housing loan, or car loan, these banks are willing to extend their arms and reach the OFWs: 1. Bank of the Philippine Islands (BPI) BPI offers variety of loan facilities for both land-based and sea-based migrant workers. This includes Personal Loan up to P1 million, Housing Loan, and Auto Loan designed for OFWS. To apply, you must be a Filipino citizen and 21 years old and above and not more than 60 years at the time of loan maturity. You must also submit government-issued IDs and your latest and unexpired POEA contract or current employment contract with boarding date. Visit www.bpiloans.com to apply online. 2. BDO Unibank (BDO) BDO established the Asenso Kabayan Program to provide financial assistance to OFWs who wish to apply for a home, auto, or personal loan. BDO bank loan requirements are: borrower must be at least 25 years old but not more than 65 years by the time your loan matures and employed for at least two and three years for skilled workers and domestic helpers, respectively. You can also download BDO application form for loan on their website, www.bdo.com.ph 3. Chinabank Chinabank offers Overseas Kababayan Services, which provides secure, reliable, and competitive products that allow you to manage your remittances, investments, and personal needs. This includes home loan, car loan, and personal loans as well. To apply for China Bank OFW loan, requirements include age of borrower between 21 and 65 years old upon maturity of loan and should not have any adverse credit findings like unpaid loans, cancelled credit cards, or bouncing checks among others. Visit www.chinabank.ph for more information about their loan facilities. Sponsored Links 4. Philippine National Bank (PNB) “You First” is PNB’s tagline. True to its promise, PNB came up with Global Filipino program for OFWs. They offer auto loan and home loan for your family and avail of any of the facilities even when you are working overseas through their branches outside the Philippines. Similar to other banks, you must be at least 21 years old to avail of any of the loan facilities and must not exceed 65 years old at the time of maturity. You must also be working abroad for at least two years to qualify. Know more about PNB’s Global Filipino program here. 5. Philippine Savings Bank (PSBank) PSBank is also committed in providing overseas Filipino workers with facilities that could enhance your life. Aside from the savings account and remittance facilities, PSBank also has home and car loan products for OFWs. Apart from the basic requirements such as age and term of employment, don’t forget to submit your Job Contract, proof of remittances for at least three months, and consularized Certificate of Employment. Check out PSBank’s loan facilities in their website. 6. RCBC Savings Bank (RCBC) Whether it is a housing loan, car loan, personal loan, or a loan to help you start your business, RCBC got you covered. They provide flexible terms as well to make payment easier and more convenient for you. You can learn more about RCBC’s consumer loans by checking out their website. Check the loan facilities offered by various banks and ask about their interest rates and payment terms to help you decide which bank is the best one for you. Read More: Mortgage Loan: What You Need To Know Passport on Wheels (POW) of DFA Starts With 4 Buses To Process 2000 Applicants Daily Did You Apply for OFW ID and Did You Receive This Email? Jobs Abroad Bound For Korea For As Much As P60k Salary Command Center For OFWs To Be Established Soon ©2018 THOUGHTSKOTO www.jbsolis.com SEARCH JBSOLIS, TYPE KEYWORDS and TITLE OF ARTICLE at the box below
4. Philippine National Bank (PNB)
 PNB came up with Global Filipino program which offers auto loan and home loan for OFWs even when they are working overseas through their branches abroad.

To know more about PNB’s Global Filipino program here.
Bangko Sentral ng Pilipinas (BSP) data shows that Overseas Filipino Workers remittances in 2017 amounted to $ 25.318 billion. Being called as "modern heroes", OFWs continue to keep the Philippine economy afloat while providing the needs of theitr family back home. The government has formulated and implement different programs and assistance for them through OWWA and other government entities as an appreciation for what their sector has been doing for the nation . Aside from government efforts to help the OFW, there are private financial institutions that offer loan packages specifically designedn for OFWs. Could it be a business loan, a personal loan, housing loan, or car loan, these banks are willing to extend their arms and reach the OFWs: 1. Bank of the Philippine Islands (BPI) BPI offers variety of loan facilities for both land-based and sea-based migrant workers. This includes Personal Loan up to P1 million, Housing Loan, and Auto Loan designed for OFWS. To apply, you must be a Filipino citizen and 21 years old and above and not more than 60 years at the time of loan maturity. You must also submit government-issued IDs and your latest and unexpired POEA contract or current employment contract with boarding date. Visit www.bpiloans.com to apply online. 2. BDO Unibank (BDO) BDO established the Asenso Kabayan Program to provide financial assistance to OFWs who wish to apply for a home, auto, or personal loan. BDO bank loan requirements are: borrower must be at least 25 years old but not more than 65 years by the time your loan matures and employed for at least two and three years for skilled workers and domestic helpers, respectively. You can also download BDO application form for loan on their website, www.bdo.com.ph 3. Chinabank Chinabank offers Overseas Kababayan Services, which provides secure, reliable, and competitive products that allow you to manage your remittances, investments, and personal needs. This includes home loan, car loan, and personal loans as well. To apply for China Bank OFW loan, requirements include age of borrower between 21 and 65 years old upon maturity of loan and should not have any adverse credit findings like unpaid loans, cancelled credit cards, or bouncing checks among others. Visit www.chinabank.ph for more information about their loan facilities. Sponsored Links 4. Philippine National Bank (PNB) “You First” is PNB’s tagline. True to its promise, PNB came up with Global Filipino program for OFWs. They offer auto loan and home loan for your family and avail of any of the facilities even when you are working overseas through their branches outside the Philippines. Similar to other banks, you must be at least 21 years old to avail of any of the loan facilities and must not exceed 65 years old at the time of maturity. You must also be working abroad for at least two years to qualify. Know more about PNB’s Global Filipino program here. 5. Philippine Savings Bank (PSBank) PSBank is also committed in providing overseas Filipino workers with facilities that could enhance your life. Aside from the savings account and remittance facilities, PSBank also has home and car loan products for OFWs. Apart from the basic requirements such as age and term of employment, don’t forget to submit your Job Contract, proof of remittances for at least three months, and consularized Certificate of Employment. Check out PSBank’s loan facilities in their website. 6. RCBC Savings Bank (RCBC) Whether it is a housing loan, car loan, personal loan, or a loan to help you start your business, RCBC got you covered. They provide flexible terms as well to make payment easier and more convenient for you. You can learn more about RCBC’s consumer loans by checking out their website. Check the loan facilities offered by various banks and ask about their interest rates and payment terms to help you decide which bank is the best one for you. Read More: Mortgage Loan: What You Need To Know Passport on Wheels (POW) of DFA Starts With 4 Buses To Process 2000 Applicants Daily Did You Apply for OFW ID and Did You Receive This Email? Jobs Abroad Bound For Korea For As Much As P60k Salary Command Center For OFWs To Be Established Soon ©2018 THOUGHTSKOTO www.jbsolis.com SEARCH JBSOLIS, TYPE KEYWORDS and TITLE OF ARTICLE at the box below
5. Philippine Savings Bank (PSBank)

PSBank is also committed in providing OFWs with facilities that could enhance their lives. From the  usual savings account and remittance programs, PSBank also has home and car loan products for OFWs.

Check out PSBank’s loan facilities in their website.
Bangko Sentral ng Pilipinas (BSP) data shows that Overseas Filipino Workers remittances in 2017 amounted to $ 25.318 billion. Being called as "modern heroes", OFWs continue to keep the Philippine economy afloat while providing the needs of theitr family back home. The government has formulated and implement different programs and assistance for them through OWWA and other government entities as an appreciation for what their sector has been doing for the nation . Aside from government efforts to help the OFW, there are private financial institutions that offer loan packages specifically designedn for OFWs. Could it be a business loan, a personal loan, housing loan, or car loan, these banks are willing to extend their arms and reach the OFWs: 1. Bank of the Philippine Islands (BPI) BPI offers variety of loan facilities for both land-based and sea-based migrant workers. This includes Personal Loan up to P1 million, Housing Loan, and Auto Loan designed for OFWS. To apply, you must be a Filipino citizen and 21 years old and above and not more than 60 years at the time of loan maturity. You must also submit government-issued IDs and your latest and unexpired POEA contract or current employment contract with boarding date. Visit www.bpiloans.com to apply online. 2. BDO Unibank (BDO) BDO established the Asenso Kabayan Program to provide financial assistance to OFWs who wish to apply for a home, auto, or personal loan. BDO bank loan requirements are: borrower must be at least 25 years old but not more than 65 years by the time your loan matures and employed for at least two and three years for skilled workers and domestic helpers, respectively. You can also download BDO application form for loan on their website, www.bdo.com.ph 3. Chinabank Chinabank offers Overseas Kababayan Services, which provides secure, reliable, and competitive products that allow you to manage your remittances, investments, and personal needs. This includes home loan, car loan, and personal loans as well. To apply for China Bank OFW loan, requirements include age of borrower between 21 and 65 years old upon maturity of loan and should not have any adverse credit findings like unpaid loans, cancelled credit cards, or bouncing checks among others. Visit www.chinabank.ph for more information about their loan facilities. Sponsored Links 4. Philippine National Bank (PNB) “You First” is PNB’s tagline. True to its promise, PNB came up with Global Filipino program for OFWs. They offer auto loan and home loan for your family and avail of any of the facilities even when you are working overseas through their branches outside the Philippines. Similar to other banks, you must be at least 21 years old to avail of any of the loan facilities and must not exceed 65 years old at the time of maturity. You must also be working abroad for at least two years to qualify. Know more about PNB’s Global Filipino program here. 5. Philippine Savings Bank (PSBank) PSBank is also committed in providing overseas Filipino workers with facilities that could enhance your life. Aside from the savings account and remittance facilities, PSBank also has home and car loan products for OFWs. Apart from the basic requirements such as age and term of employment, don’t forget to submit your Job Contract, proof of remittances for at least three months, and consularized Certificate of Employment. Check out PSBank’s loan facilities in their website. 6. RCBC Savings Bank (RCBC) Whether it is a housing loan, car loan, personal loan, or a loan to help you start your business, RCBC got you covered. They provide flexible terms as well to make payment easier and more convenient for you. You can learn more about RCBC’s consumer loans by checking out their website. Check the loan facilities offered by various banks and ask about their interest rates and payment terms to help you decide which bank is the best one for you. Read More: Mortgage Loan: What You Need To Know Passport on Wheels (POW) of DFA Starts With 4 Buses To Process 2000 Applicants Daily Did You Apply for OFW ID and Did You Receive This Email? Jobs Abroad Bound For Korea For As Much As P60k Salary Command Center For OFWs To Be Established Soon ©2018 THOUGHTSKOTO www.jbsolis.com SEARCH JBSOLIS, TYPE KEYWORDS and TITLE OF ARTICLE at the box below
6. RCBC Savings Bank (RCBC)

RCBC got a wide range of loan programs for OFWs that comes with flexible terms as well to make payment easier and more convenient.

You can learn more about RCBC’s consumer loans by checking out their website.

For more information about loans and other facilities and products, we suugest that you go directly to any branches of the aforementioned banks to further understand their programs.

 This article is filed under: Small Personal Loans Low Interest Rate, Refinance Loan, College Loans, Jumbo Loan, Get A Personal Loan

 Read More:
Mortgage Loan: What You Need To KnowPassport on Wheels 

(POW) of DFA Starts With 4 Buses To Process 2000 Applicants Daily
Jobs Abroad Bound For Korea For As Much As P60k Salary

Command Center For OFWs To Be Established Soon

©2018 THOUGHTSKOTO
SEARCH JBSOLIS, TYPE KEYWORDS and TITLE OF ARTICLE at the box below
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Thursday, May 18, 2017

Enterprise Development and Loan Program - OFW LOAN OF UP TO 2 MILLION PESOS




The OFW-EDLP is an enterprise development interventions and loan facility of the Overseas Workers Welfare Administration (OWWA) in partnership with the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP). It is a two-component package: Enterprise Development Interventions and Loan Facility. The EDT will empower the OFW on how to manage a business. It will also be the best opportunity to ask questions about the business loan. The aim is to help OFWs and their families in the establishment of viable business enterprises that will provide them with steady income as well as create employment opportunities in their community. The loanable amount for qualified individual borrowers is from Php 100,000.00 up to a maximum of P2 million. For group borrowers, they can borrow up to a maximum of P5 million. The loanable amount carries a fixed interest rate of 7.5 percent per annum for the duration of the loan. It can be used either as working capital or for acquisition of fixed assets needed for business operations. The program requires that the proposed project should have a ready market and should generate a monthly income of at least P10,000. Borrowers can choose a short-term loan, which can be paid within a year, or a long-term loan which is payable based on the cash flow but not to exceed seven years, inclusive of the maximum two-year grace period on the capital. Through DTI’s assistance, OFWs will have access to training and technical support in starting an enterprise, as well as opportunities to attend special events, such as conferences, exhibitions, symposium, caravans, and other promotional activities initiated by DTI and the private sector. HERE ARE THE DETAILS OF THE LOAN PROGRAM Who are Eligible for a Loan: An OFW who is a certified OWWA Member, active or non-active, and has completed the Enhanced Entrepreneurial Development Training(EEDT). OFWs working abroad may be represented by the following (with Special Power of Attorney, authenticated by the consul): If single, widow or widower; or separated-in-fact, by Parents who are not more than sixty (60) years old upon maturity of loan, or by children who are at least eighteen (18) years old at the time of loan availment. If married, by the legal spouse If the OFW or his/her Attorney-in-fact is more than 60 years old upon loan maturity, a co-maker of the loan shall be required. The co-maker may be the sibling or the children (of legal age). OFW returnees may avail of the loan program within three (3) 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. 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. 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 the EEDT. What are the Eligible Projects/Businesses? Franchising Business Contract tie-up with top 1000 corporations Agri- and non-agri production/manufacturing with identified market linkage and raw material sources Construction/rental business Service/trading business Transport service Other viable project, existing or new, that should generate a net cash flow sufficient to pay the projected amortization of the loan Project Cost Sharing Borrower's Equity is at least 20% of the Total Project Cost. Maximum Loanable Amount is limited to 80% of the Total Project Cost. Loan Security/Collateral The object of financing shall be required as loan security, as well as other documents as may be required by LBP/DBP in relation to business approval, such as: Torrens Certificate of Title (TCT), Condominium Certificate of Title (CCT), Tax Declaration (TD) and plans on mortgageable assets of the borrower; or Any loan security acceptable to the bank (OR/CR for Chattel Mortgage, Lease Rental Contract, Receivables, other Contract Agreements for the execution of the Deed of Assignment, Purchase Order, etc.) Here are the Steps To Availing an OFW-EDLP Loan: STEP 1. Verification of OWWA Registration For OFWs still outside the Philippines 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. 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 OWWA certification that the borrower is a bonafide overseas worker and has completed EDT Two valid IDs with signature Duly filled-out Application Form Statement of Assets and Liabilities Barangay Certification of residency Proof of Billing address Sketch of place of residence A business plan on the specific project or business If OFW has existing business prior to loan: Contract Growing Agreement, Purchase Order or Service Contract Certificate of Registration with DTI Mayor's permit Income tax return (last 3 years) Financial statements (last 3 years, BIR-filed) Latest Interim Financial Statement, if applicable 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. Loan evaluation, packaging, and approval shall be completed within 45 working days upon receipt of complete loan requirements. STEP 5. Approval of Loan If approved, Landbank will release the fund to the OFW.


Are you interested on availing OWWA loans? The OFW-EDLP is an enterprise development interventions and loan facility of the Overseas Workers Welfare Administration (OWWA) in partnership with the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP).
The OFW-EDLP is an enterprise development interventions and loan facility of the Overseas Workers Welfare Administration (OWWA) in partnership with the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP). It is a two-component package: Enterprise Development Interventions and Loan Facility. The EDT will empower the OFW on how to manage a business. It will also be the best opportunity to ask questions about the business loan. The aim is to help OFWs and their families in the establishment of viable business enterprises that will provide them with steady income as well as create employment opportunities in their community. The loanable amount for qualified individual borrowers is from Php 100,000.00 up to a maximum of P2 million. For group borrowers, they can borrow up to a maximum of P5 million. The loanable amount carries a fixed interest rate of 7.5 percent per annum for the duration of the loan. It can be used either as working capital or for acquisition of fixed assets needed for business operations. The program requires that the proposed project should have a ready market and should generate a monthly income of at least P10,000. Borrowers can choose a short-term loan, which can be paid within a year, or a long-term loan which is payable based on the cash flow but not to exceed seven years, inclusive of the maximum two-year grace period on the capital. Through DTI’s assistance, OFWs will have access to training and technical support in starting an enterprise, as well as opportunities to attend special events, such as conferences, exhibitions, symposium, caravans, and other promotional activities initiated by DTI and the private sector. HERE ARE THE DETAILS OF THE LOAN PROGRAM Who are Eligible for a Loan: An OFW who is a certified OWWA Member, active or non-active, and has completed the Enhanced Entrepreneurial Development Training(EEDT). OFWs working abroad may be represented by the following (with Special Power of Attorney, authenticated by the consul): If single, widow or widower; or separated-in-fact, by Parents who are not more than sixty (60) years old upon maturity of loan, or by children who are at least eighteen (18) years old at the time of loan availment. If married, by the legal spouse If the OFW or his/her Attorney-in-fact is more than 60 years old upon loan maturity, a co-maker of the loan shall be required. The co-maker may be the sibling or the children (of legal age). OFW returnees may avail of the loan program within three (3) 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. 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. 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 the EEDT. What are the Eligible Projects/Businesses? Franchising Business Contract tie-up with top 1000 corporations Agri- and non-agri production/manufacturing with identified market linkage and raw material sources Construction/rental business Service/trading business Transport service Other viable project, existing or new, that should generate a net cash flow sufficient to pay the projected amortization of the loan Project Cost Sharing Borrower's Equity is at least 20% of the Total Project Cost. Maximum Loanable Amount is limited to 80% of the Total Project Cost. Loan Security/Collateral The object of financing shall be required as loan security, as well as other documents as may be required by LBP/DBP in relation to business approval, such as: Torrens Certificate of Title (TCT), Condominium Certificate of Title (CCT), Tax Declaration (TD) and plans on mortgageable assets of the borrower; or Any loan security acceptable to the bank (OR/CR for Chattel Mortgage, Lease Rental Contract, Receivables, other Contract Agreements for the execution of the Deed of Assignment, Purchase Order, etc.) Here are the Steps To Availing an OFW-EDLP Loan: STEP 1. Verification of OWWA Registration For OFWs still outside the Philippines 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. 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 OWWA certification that the borrower is a bonafide overseas worker and has completed EDT Two valid IDs with signature Duly filled-out Application Form Statement of Assets and Liabilities Barangay Certification of residency Proof of Billing address Sketch of place of residence A business plan on the specific project or business If OFW has existing business prior to loan: Contract Growing Agreement, Purchase Order or Service Contract Certificate of Registration with DTI Mayor's permit Income tax return (last 3 years) Financial statements (last 3 years, BIR-filed) Latest Interim Financial Statement, if applicable 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. Loan evaluation, packaging, and approval shall be completed within 45 working days upon receipt of complete loan requirements. STEP 5. Approval of Loan If approved, Landbank will release the fund to the OFW.
It is a two-component package: Enterprise Development Interventions and Loan Facility. The EDT will empower the OFW on how to manage a business. It will also be the best opportunity to ask questions about the business loan. The aim is to help OFWs and their families in the establishment of viable business enterprises that will provide them with steady income as well as create employment opportunities in their community.

 The loanable amount for qualified individual borrowers is from Php 100,000.00 up to a maximum of P2 million. For group borrowers, they can borrow up to a maximum of P5 million.
The OFW-EDLP is an enterprise development interventions and loan facility of the Overseas Workers Welfare Administration (OWWA) in partnership with the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP). It is a two-component package: Enterprise Development Interventions and Loan Facility. The EDT will empower the OFW on how to manage a business. It will also be the best opportunity to ask questions about the business loan. The aim is to help OFWs and their families in the establishment of viable business enterprises that will provide them with steady income as well as create employment opportunities in their community. The loanable amount for qualified individual borrowers is from Php 100,000.00 up to a maximum of P2 million. For group borrowers, they can borrow up to a maximum of P5 million. The loanable amount carries a fixed interest rate of 7.5 percent per annum for the duration of the loan. It can be used either as working capital or for acquisition of fixed assets needed for business operations. The program requires that the proposed project should have a ready market and should generate a monthly income of at least P10,000. Borrowers can choose a short-term loan, which can be paid within a year, or a long-term loan which is payable based on the cash flow but not to exceed seven years, inclusive of the maximum two-year grace period on the capital. Through DTI’s assistance, OFWs will have access to training and technical support in starting an enterprise, as well as opportunities to attend special events, such as conferences, exhibitions, symposium, caravans, and other promotional activities initiated by DTI and the private sector. HERE ARE THE DETAILS OF THE LOAN PROGRAM Who are Eligible for a Loan: An OFW who is a certified OWWA Member, active or non-active, and has completed the Enhanced Entrepreneurial Development Training(EEDT). OFWs working abroad may be represented by the following (with Special Power of Attorney, authenticated by the consul): If single, widow or widower; or separated-in-fact, by Parents who are not more than sixty (60) years old upon maturity of loan, or by children who are at least eighteen (18) years old at the time of loan availment. If married, by the legal spouse If the OFW or his/her Attorney-in-fact is more than 60 years old upon loan maturity, a co-maker of the loan shall be required. The co-maker may be the sibling or the children (of legal age). OFW returnees may avail of the loan program within three (3) 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. 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. 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 the EEDT. What are the Eligible Projects/Businesses? Franchising Business Contract tie-up with top 1000 corporations Agri- and non-agri production/manufacturing with identified market linkage and raw material sources Construction/rental business Service/trading business Transport service Other viable project, existing or new, that should generate a net cash flow sufficient to pay the projected amortization of the loan Project Cost Sharing Borrower's Equity is at least 20% of the Total Project Cost. Maximum Loanable Amount is limited to 80% of the Total Project Cost. Loan Security/Collateral The object of financing shall be required as loan security, as well as other documents as may be required by LBP/DBP in relation to business approval, such as: Torrens Certificate of Title (TCT), Condominium Certificate of Title (CCT), Tax Declaration (TD) and plans on mortgageable assets of the borrower; or Any loan security acceptable to the bank (OR/CR for Chattel Mortgage, Lease Rental Contract, Receivables, other Contract Agreements for the execution of the Deed of Assignment, Purchase Order, etc.) Here are the Steps To Availing an OFW-EDLP Loan: STEP 1. Verification of OWWA Registration For OFWs still outside the Philippines 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. 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 OWWA certification that the borrower is a bonafide overseas worker and has completed EDT Two valid IDs with signature Duly filled-out Application Form Statement of Assets and Liabilities Barangay Certification of residency Proof of Billing address Sketch of place of residence A business plan on the specific project or business If OFW has existing business prior to loan: Contract Growing Agreement, Purchase Order or Service Contract Certificate of Registration with DTI Mayor's permit Income tax return (last 3 years) Financial statements (last 3 years, BIR-filed) Latest Interim Financial Statement, if applicable 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. Loan evaluation, packaging, and approval shall be completed within 45 working days upon receipt of complete loan requirements. STEP 5. Approval of Loan If approved, Landbank will release the fund to the OFW.



The loanable amount carries a fixed interest rate of 7.5 percent per annum for the duration of the loan. It can be used either as working capital or for acquisition of fixed assets needed for business operations. The program requires that the proposed project should have a ready market and should generate a monthly income of at least P10,000.

Borrowers can choose a short-term loan, which can be paid within a year, or a long-term loan which is payable based on the cash flow but not to exceed seven years, inclusive of the maximum two-year grace period on the capital.
The OFW-EDLP is an enterprise development interventions and loan facility of the Overseas Workers Welfare Administration (OWWA) in partnership with the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP). It is a two-component package: Enterprise Development Interventions and Loan Facility. The EDT will empower the OFW on how to manage a business. It will also be the best opportunity to ask questions about the business loan. The aim is to help OFWs and their families in the establishment of viable business enterprises that will provide them with steady income as well as create employment opportunities in their community. The loanable amount for qualified individual borrowers is from Php 100,000.00 up to a maximum of P2 million. For group borrowers, they can borrow up to a maximum of P5 million. The loanable amount carries a fixed interest rate of 7.5 percent per annum for the duration of the loan. It can be used either as working capital or for acquisition of fixed assets needed for business operations. The program requires that the proposed project should have a ready market and should generate a monthly income of at least P10,000. Borrowers can choose a short-term loan, which can be paid within a year, or a long-term loan which is payable based on the cash flow but not to exceed seven years, inclusive of the maximum two-year grace period on the capital. Through DTI’s assistance, OFWs will have access to training and technical support in starting an enterprise, as well as opportunities to attend special events, such as conferences, exhibitions, symposium, caravans, and other promotional activities initiated by DTI and the private sector. HERE ARE THE DETAILS OF THE LOAN PROGRAM Who are Eligible for a Loan: An OFW who is a certified OWWA Member, active or non-active, and has completed the Enhanced Entrepreneurial Development Training(EEDT). OFWs working abroad may be represented by the following (with Special Power of Attorney, authenticated by the consul): If single, widow or widower; or separated-in-fact, by Parents who are not more than sixty (60) years old upon maturity of loan, or by children who are at least eighteen (18) years old at the time of loan availment. If married, by the legal spouse If the OFW or his/her Attorney-in-fact is more than 60 years old upon loan maturity, a co-maker of the loan shall be required. The co-maker may be the sibling or the children (of legal age). OFW returnees may avail of the loan program within three (3) 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. 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. 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 the EEDT. What are the Eligible Projects/Businesses? Franchising Business Contract tie-up with top 1000 corporations Agri- and non-agri production/manufacturing with identified market linkage and raw material sources Construction/rental business Service/trading business Transport service Other viable project, existing or new, that should generate a net cash flow sufficient to pay the projected amortization of the loan Project Cost Sharing Borrower's Equity is at least 20% of the Total Project Cost. Maximum Loanable Amount is limited to 80% of the Total Project Cost. Loan Security/Collateral The object of financing shall be required as loan security, as well as other documents as may be required by LBP/DBP in relation to business approval, such as: Torrens Certificate of Title (TCT), Condominium Certificate of Title (CCT), Tax Declaration (TD) and plans on mortgageable assets of the borrower; or Any loan security acceptable to the bank (OR/CR for Chattel Mortgage, Lease Rental Contract, Receivables, other Contract Agreements for the execution of the Deed of Assignment, Purchase Order, etc.) Here are the Steps To Availing an OFW-EDLP Loan: STEP 1. Verification of OWWA Registration For OFWs still outside the Philippines 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. 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 OWWA certification that the borrower is a bonafide overseas worker and has completed EDT Two valid IDs with signature Duly filled-out Application Form Statement of Assets and Liabilities Barangay Certification of residency Proof of Billing address Sketch of place of residence A business plan on the specific project or business If OFW has existing business prior to loan: Contract Growing Agreement, Purchase Order or Service Contract Certificate of Registration with DTI Mayor's permit Income tax return (last 3 years) Financial statements (last 3 years, BIR-filed) Latest Interim Financial Statement, if applicable 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. Loan evaluation, packaging, and approval shall be completed within 45 working days upon receipt of complete loan requirements. STEP 5. Approval of Loan If approved, Landbank will release the fund to the OFW.

 Through DTI’s assistance, OFWs will have access to training and technical support in starting an enterprise, as well as opportunities to attend special events, such as conferences, exhibitions, symposium, caravans, and other promotional activities initiated by DTI and the private sector.




HERE ARE THE DETAILS OF THE LOAN PROGRAM
Who are Eligible for a Loan:
  • An OFW who is a certified OWWA Member, active or non-active, and has completed the Enhanced Entrepreneurial Development Training(EEDT).
  • OFWs working abroad may be represented by the following (with Special Power of Attorney, authenticated by the consul):
    • If single, widow or widower; or separated-in-fact, by Parents who are not more than sixty (60) years old upon maturity of loan, or by children who are at least eighteen (18) years old at the time of loan availment.
    • If married, by the legal spouse
  • If the OFW or his/her Attorney-in-fact is more than 60 years old upon loan maturity, a co-maker of the loan shall be required. The co-maker may be the sibling or the children (of legal age).
  • OFW returnees may avail of the loan program within three (3) 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.
  • 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.
  • 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 the EEDT.
The OFW-EDLP is an enterprise development interventions and loan facility of the Overseas Workers Welfare Administration (OWWA) in partnership with the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP). It is a two-component package: Enterprise Development Interventions and Loan Facility. The EDT will empower the OFW on how to manage a business. It will also be the best opportunity to ask questions about the business loan. The aim is to help OFWs and their families in the establishment of viable business enterprises that will provide them with steady income as well as create employment opportunities in their community. The loanable amount for qualified individual borrowers is from Php 100,000.00 up to a maximum of P2 million. For group borrowers, they can borrow up to a maximum of P5 million. The loanable amount carries a fixed interest rate of 7.5 percent per annum for the duration of the loan. It can be used either as working capital or for acquisition of fixed assets needed for business operations. The program requires that the proposed project should have a ready market and should generate a monthly income of at least P10,000. Borrowers can choose a short-term loan, which can be paid within a year, or a long-term loan which is payable based on the cash flow but not to exceed seven years, inclusive of the maximum two-year grace period on the capital. Through DTI’s assistance, OFWs will have access to training and technical support in starting an enterprise, as well as opportunities to attend special events, such as conferences, exhibitions, symposium, caravans, and other promotional activities initiated by DTI and the private sector. HERE ARE THE DETAILS OF THE LOAN PROGRAM Who are Eligible for a Loan: An OFW who is a certified OWWA Member, active or non-active, and has completed the Enhanced Entrepreneurial Development Training(EEDT). OFWs working abroad may be represented by the following (with Special Power of Attorney, authenticated by the consul): If single, widow or widower; or separated-in-fact, by Parents who are not more than sixty (60) years old upon maturity of loan, or by children who are at least eighteen (18) years old at the time of loan availment. If married, by the legal spouse If the OFW or his/her Attorney-in-fact is more than 60 years old upon loan maturity, a co-maker of the loan shall be required. The co-maker may be the sibling or the children (of legal age). OFW returnees may avail of the loan program within three (3) 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. 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. 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 the EEDT. What are the Eligible Projects/Businesses? Franchising Business Contract tie-up with top 1000 corporations Agri- and non-agri production/manufacturing with identified market linkage and raw material sources Construction/rental business Service/trading business Transport service Other viable project, existing or new, that should generate a net cash flow sufficient to pay the projected amortization of the loan Project Cost Sharing Borrower's Equity is at least 20% of the Total Project Cost. Maximum Loanable Amount is limited to 80% of the Total Project Cost. Loan Security/Collateral The object of financing shall be required as loan security, as well as other documents as may be required by LBP/DBP in relation to business approval, such as: Torrens Certificate of Title (TCT), Condominium Certificate of Title (CCT), Tax Declaration (TD) and plans on mortgageable assets of the borrower; or Any loan security acceptable to the bank (OR/CR for Chattel Mortgage, Lease Rental Contract, Receivables, other Contract Agreements for the execution of the Deed of Assignment, Purchase Order, etc.) Here are the Steps To Availing an OFW-EDLP Loan: STEP 1. Verification of OWWA Registration For OFWs still outside the Philippines 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. 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 OWWA certification that the borrower is a bonafide overseas worker and has completed EDT Two valid IDs with signature Duly filled-out Application Form Statement of Assets and Liabilities Barangay Certification of residency Proof of Billing address Sketch of place of residence A business plan on the specific project or business If OFW has existing business prior to loan: Contract Growing Agreement, Purchase Order or Service Contract Certificate of Registration with DTI Mayor's permit Income tax return (last 3 years) Financial statements (last 3 years, BIR-filed) Latest Interim Financial Statement, if applicable 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. Loan evaluation, packaging, and approval shall be completed within 45 working days upon receipt of complete loan requirements. STEP 5. Approval of Loan If approved, Landbank will release the fund to the OFW.
What are the Eligible Projects/Businesses?

  • Franchising Business
  • Contract tie-up with top 1000 corporations
  • Agri- and non-agri production/manufacturing with identified market linkage and raw material sources
  • Construction/rental business
  • Service/trading business
  • Transport service
  • Other viable project, existing or new, that should generate a net cash flow sufficient to pay the projected amortization of the loan
The OFW-EDLP is an enterprise development interventions and loan facility of the Overseas Workers Welfare Administration (OWWA) in partnership with the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP). It is a two-component package: Enterprise Development Interventions and Loan Facility. The EDT will empower the OFW on how to manage a business. It will also be the best opportunity to ask questions about the business loan. The aim is to help OFWs and their families in the establishment of viable business enterprises that will provide them with steady income as well as create employment opportunities in their community. The loanable amount for qualified individual borrowers is from Php 100,000.00 up to a maximum of P2 million. For group borrowers, they can borrow up to a maximum of P5 million. The loanable amount carries a fixed interest rate of 7.5 percent per annum for the duration of the loan. It can be used either as working capital or for acquisition of fixed assets needed for business operations. The program requires that the proposed project should have a ready market and should generate a monthly income of at least P10,000. Borrowers can choose a short-term loan, which can be paid within a year, or a long-term loan which is payable based on the cash flow but not to exceed seven years, inclusive of the maximum two-year grace period on the capital. Through DTI’s assistance, OFWs will have access to training and technical support in starting an enterprise, as well as opportunities to attend special events, such as conferences, exhibitions, symposium, caravans, and other promotional activities initiated by DTI and the private sector. HERE ARE THE DETAILS OF THE LOAN PROGRAM Who are Eligible for a Loan: An OFW who is a certified OWWA Member, active or non-active, and has completed the Enhanced Entrepreneurial Development Training(EEDT). OFWs working abroad may be represented by the following (with Special Power of Attorney, authenticated by the consul): If single, widow or widower; or separated-in-fact, by Parents who are not more than sixty (60) years old upon maturity of loan, or by children who are at least eighteen (18) years old at the time of loan availment. If married, by the legal spouse If the OFW or his/her Attorney-in-fact is more than 60 years old upon loan maturity, a co-maker of the loan shall be required. The co-maker may be the sibling or the children (of legal age). OFW returnees may avail of the loan program within three (3) 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. 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. 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 the EEDT. What are the Eligible Projects/Businesses? Franchising Business Contract tie-up with top 1000 corporations Agri- and non-agri production/manufacturing with identified market linkage and raw material sources Construction/rental business Service/trading business Transport service Other viable project, existing or new, that should generate a net cash flow sufficient to pay the projected amortization of the loan Project Cost Sharing Borrower's Equity is at least 20% of the Total Project Cost. Maximum Loanable Amount is limited to 80% of the Total Project Cost. Loan Security/Collateral The object of financing shall be required as loan security, as well as other documents as may be required by LBP/DBP in relation to business approval, such as: Torrens Certificate of Title (TCT), Condominium Certificate of Title (CCT), Tax Declaration (TD) and plans on mortgageable assets of the borrower; or Any loan security acceptable to the bank (OR/CR for Chattel Mortgage, Lease Rental Contract, Receivables, other Contract Agreements for the execution of the Deed of Assignment, Purchase Order, etc.) Here are the Steps To Availing an OFW-EDLP Loan: STEP 1. Verification of OWWA Registration For OFWs still outside the Philippines 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. 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 OWWA certification that the borrower is a bonafide overseas worker and has completed EDT Two valid IDs with signature Duly filled-out Application Form Statement of Assets and Liabilities Barangay Certification of residency Proof of Billing address Sketch of place of residence A business plan on the specific project or business If OFW has existing business prior to loan: Contract Growing Agreement, Purchase Order or Service Contract Certificate of Registration with DTI Mayor's permit Income tax return (last 3 years) Financial statements (last 3 years, BIR-filed) Latest Interim Financial Statement, if applicable 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. Loan evaluation, packaging, and approval shall be completed within 45 working days upon receipt of complete loan requirements. STEP 5. Approval of Loan If approved, Landbank will release the fund to the OFW.


 Project Cost Sharing

  • Borrower's Equity is at least 20% of the Total Project Cost.
  • Maximum Loanable Amount is limited to 80% of the Total Project Cost.
The OFW-EDLP is an enterprise development interventions and loan facility of the Overseas Workers Welfare Administration (OWWA) in partnership with the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP). It is a two-component package: Enterprise Development Interventions and Loan Facility. The EDT will empower the OFW on how to manage a business. It will also be the best opportunity to ask questions about the business loan. The aim is to help OFWs and their families in the establishment of viable business enterprises that will provide them with steady income as well as create employment opportunities in their community. The loanable amount for qualified individual borrowers is from Php 100,000.00 up to a maximum of P2 million. For group borrowers, they can borrow up to a maximum of P5 million. The loanable amount carries a fixed interest rate of 7.5 percent per annum for the duration of the loan. It can be used either as working capital or for acquisition of fixed assets needed for business operations. The program requires that the proposed project should have a ready market and should generate a monthly income of at least P10,000. Borrowers can choose a short-term loan, which can be paid within a year, or a long-term loan which is payable based on the cash flow but not to exceed seven years, inclusive of the maximum two-year grace period on the capital. Through DTI’s assistance, OFWs will have access to training and technical support in starting an enterprise, as well as opportunities to attend special events, such as conferences, exhibitions, symposium, caravans, and other promotional activities initiated by DTI and the private sector. HERE ARE THE DETAILS OF THE LOAN PROGRAM Who are Eligible for a Loan: An OFW who is a certified OWWA Member, active or non-active, and has completed the Enhanced Entrepreneurial Development Training(EEDT). OFWs working abroad may be represented by the following (with Special Power of Attorney, authenticated by the consul): If single, widow or widower; or separated-in-fact, by Parents who are not more than sixty (60) years old upon maturity of loan, or by children who are at least eighteen (18) years old at the time of loan availment. If married, by the legal spouse If the OFW or his/her Attorney-in-fact is more than 60 years old upon loan maturity, a co-maker of the loan shall be required. The co-maker may be the sibling or the children (of legal age). OFW returnees may avail of the loan program within three (3) 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. 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. 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 the EEDT. What are the Eligible Projects/Businesses? Franchising Business Contract tie-up with top 1000 corporations Agri- and non-agri production/manufacturing with identified market linkage and raw material sources Construction/rental business Service/trading business Transport service Other viable project, existing or new, that should generate a net cash flow sufficient to pay the projected amortization of the loan Project Cost Sharing Borrower's Equity is at least 20% of the Total Project Cost. Maximum Loanable Amount is limited to 80% of the Total Project Cost. Loan Security/Collateral The object of financing shall be required as loan security, as well as other documents as may be required by LBP/DBP in relation to business approval, such as: Torrens Certificate of Title (TCT), Condominium Certificate of Title (CCT), Tax Declaration (TD) and plans on mortgageable assets of the borrower; or Any loan security acceptable to the bank (OR/CR for Chattel Mortgage, Lease Rental Contract, Receivables, other Contract Agreements for the execution of the Deed of Assignment, Purchase Order, etc.) Here are the Steps To Availing an OFW-EDLP Loan: STEP 1. Verification of OWWA Registration For OFWs still outside the Philippines 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. 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 OWWA certification that the borrower is a bonafide overseas worker and has completed EDT Two valid IDs with signature Duly filled-out Application Form Statement of Assets and Liabilities Barangay Certification of residency Proof of Billing address Sketch of place of residence A business plan on the specific project or business If OFW has existing business prior to loan: Contract Growing Agreement, Purchase Order or Service Contract Certificate of Registration with DTI Mayor's permit Income tax return (last 3 years) Financial statements (last 3 years, BIR-filed) Latest Interim Financial Statement, if applicable 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. Loan evaluation, packaging, and approval shall be completed within 45 working days upon receipt of complete loan requirements. STEP 5. Approval of Loan If approved, Landbank will release the fund to the OFW.

Loan Security/Collateral 
The object of financing shall be required as loan security, as well as other documents as may be required by LBP/DBP in relation to business approval, such as:

  • Torrens Certificate of Title (TCT), Condominium Certificate of Title (CCT), Tax Declaration (TD) and plans on mortgageable assets of the borrower; or
  • Any loan security acceptable to the bank (OR/CR for Chattel Mortgage, Lease Rental Contract, Receivables, other Contract Agreements for the execution of the Deed of Assignment, Purchase Order, etc.)
Here are the Steps To Availing an OFW-EDLP Loan:

STEP 1.
Verification of OWWA Registration
  • For OFWs still outside the Philippines
    • 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.
  • 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.
The OFW-EDLP is an enterprise development interventions and loan facility of the Overseas Workers Welfare Administration (OWWA) in partnership with the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP). It is a two-component package: Enterprise Development Interventions and Loan Facility. The EDT will empower the OFW on how to manage a business. It will also be the best opportunity to ask questions about the business loan. The aim is to help OFWs and their families in the establishment of viable business enterprises that will provide them with steady income as well as create employment opportunities in their community. The loanable amount for qualified individual borrowers is from Php 100,000.00 up to a maximum of P2 million. For group borrowers, they can borrow up to a maximum of P5 million. The loanable amount carries a fixed interest rate of 7.5 percent per annum for the duration of the loan. It can be used either as working capital or for acquisition of fixed assets needed for business operations. The program requires that the proposed project should have a ready market and should generate a monthly income of at least P10,000. Borrowers can choose a short-term loan, which can be paid within a year, or a long-term loan which is payable based on the cash flow but not to exceed seven years, inclusive of the maximum two-year grace period on the capital. Through DTI’s assistance, OFWs will have access to training and technical support in starting an enterprise, as well as opportunities to attend special events, such as conferences, exhibitions, symposium, caravans, and other promotional activities initiated by DTI and the private sector. HERE ARE THE DETAILS OF THE LOAN PROGRAM Who are Eligible for a Loan: An OFW who is a certified OWWA Member, active or non-active, and has completed the Enhanced Entrepreneurial Development Training(EEDT). OFWs working abroad may be represented by the following (with Special Power of Attorney, authenticated by the consul): If single, widow or widower; or separated-in-fact, by Parents who are not more than sixty (60) years old upon maturity of loan, or by children who are at least eighteen (18) years old at the time of loan availment. If married, by the legal spouse If the OFW or his/her Attorney-in-fact is more than 60 years old upon loan maturity, a co-maker of the loan shall be required. The co-maker may be the sibling or the children (of legal age). OFW returnees may avail of the loan program within three (3) 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. 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. 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 the EEDT. What are the Eligible Projects/Businesses? Franchising Business Contract tie-up with top 1000 corporations Agri- and non-agri production/manufacturing with identified market linkage and raw material sources Construction/rental business Service/trading business Transport service Other viable project, existing or new, that should generate a net cash flow sufficient to pay the projected amortization of the loan Project Cost Sharing Borrower's Equity is at least 20% of the Total Project Cost. Maximum Loanable Amount is limited to 80% of the Total Project Cost. Loan Security/Collateral The object of financing shall be required as loan security, as well as other documents as may be required by LBP/DBP in relation to business approval, such as: Torrens Certificate of Title (TCT), Condominium Certificate of Title (CCT), Tax Declaration (TD) and plans on mortgageable assets of the borrower; or Any loan security acceptable to the bank (OR/CR for Chattel Mortgage, Lease Rental Contract, Receivables, other Contract Agreements for the execution of the Deed of Assignment, Purchase Order, etc.) Here are the Steps To Availing an OFW-EDLP Loan: STEP 1. Verification of OWWA Registration For OFWs still outside the Philippines 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. 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 OWWA certification that the borrower is a bonafide overseas worker and has completed EDT Two valid IDs with signature Duly filled-out Application Form Statement of Assets and Liabilities Barangay Certification of residency Proof of Billing address Sketch of place of residence A business plan on the specific project or business If OFW has existing business prior to loan: Contract Growing Agreement, Purchase Order or Service Contract Certificate of Registration with DTI Mayor's permit Income tax return (last 3 years) Financial statements (last 3 years, BIR-filed) Latest Interim Financial Statement, if applicable 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. Loan evaluation, packaging, and approval shall be completed within 45 working days upon receipt of complete loan requirements. STEP 5. Approval of Loan If approved, Landbank will release the fund to the OFW.

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.
The OFW-EDLP is an enterprise development interventions and loan facility of the Overseas Workers Welfare Administration (OWWA) in partnership with the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP). It is a two-component package: Enterprise Development Interventions and Loan Facility. The EDT will empower the OFW on how to manage a business. It will also be the best opportunity to ask questions about the business loan. The aim is to help OFWs and their families in the establishment of viable business enterprises that will provide them with steady income as well as create employment opportunities in their community. The loanable amount for qualified individual borrowers is from Php 100,000.00 up to a maximum of P2 million. For group borrowers, they can borrow up to a maximum of P5 million. The loanable amount carries a fixed interest rate of 7.5 percent per annum for the duration of the loan. It can be used either as working capital or for acquisition of fixed assets needed for business operations. The program requires that the proposed project should have a ready market and should generate a monthly income of at least P10,000. Borrowers can choose a short-term loan, which can be paid within a year, or a long-term loan which is payable based on the cash flow but not to exceed seven years, inclusive of the maximum two-year grace period on the capital. Through DTI’s assistance, OFWs will have access to training and technical support in starting an enterprise, as well as opportunities to attend special events, such as conferences, exhibitions, symposium, caravans, and other promotional activities initiated by DTI and the private sector. HERE ARE THE DETAILS OF THE LOAN PROGRAM Who are Eligible for a Loan: An OFW who is a certified OWWA Member, active or non-active, and has completed the Enhanced Entrepreneurial Development Training(EEDT). OFWs working abroad may be represented by the following (with Special Power of Attorney, authenticated by the consul): If single, widow or widower; or separated-in-fact, by Parents who are not more than sixty (60) years old upon maturity of loan, or by children who are at least eighteen (18) years old at the time of loan availment. If married, by the legal spouse If the OFW or his/her Attorney-in-fact is more than 60 years old upon loan maturity, a co-maker of the loan shall be required. The co-maker may be the sibling or the children (of legal age). OFW returnees may avail of the loan program within three (3) 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. 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. 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 the EEDT. What are the Eligible Projects/Businesses? Franchising Business Contract tie-up with top 1000 corporations Agri- and non-agri production/manufacturing with identified market linkage and raw material sources Construction/rental business Service/trading business Transport service Other viable project, existing or new, that should generate a net cash flow sufficient to pay the projected amortization of the loan Project Cost Sharing Borrower's Equity is at least 20% of the Total Project Cost. Maximum Loanable Amount is limited to 80% of the Total Project Cost. Loan Security/Collateral The object of financing shall be required as loan security, as well as other documents as may be required by LBP/DBP in relation to business approval, such as: Torrens Certificate of Title (TCT), Condominium Certificate of Title (CCT), Tax Declaration (TD) and plans on mortgageable assets of the borrower; or Any loan security acceptable to the bank (OR/CR for Chattel Mortgage, Lease Rental Contract, Receivables, other Contract Agreements for the execution of the Deed of Assignment, Purchase Order, etc.) Here are the Steps To Availing an OFW-EDLP Loan: STEP 1. Verification of OWWA Registration For OFWs still outside the Philippines 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. 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 OWWA certification that the borrower is a bonafide overseas worker and has completed EDT Two valid IDs with signature Duly filled-out Application Form Statement of Assets and Liabilities Barangay Certification of residency Proof of Billing address Sketch of place of residence A business plan on the specific project or business If OFW has existing business prior to loan: Contract Growing Agreement, Purchase Order or Service Contract Certificate of Registration with DTI Mayor's permit Income tax return (last 3 years) Financial statements (last 3 years, BIR-filed) Latest Interim Financial Statement, if applicable 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. Loan evaluation, packaging, and approval shall be completed within 45 working days upon receipt of complete loan requirements. STEP 5. Approval of Loan If approved, Landbank will release the fund to the OFW.


STEP 3.
Preparation of Business Plan and other requirements
  • OWWA certification that the borrower is a bonafide overseas worker and has completed EDT
  • Two valid IDs with signature
  • Duly filled-out Application Form
  • Statement of Assets and Liabilities
  • Barangay Certification of residency 
  • Proof of Billing address
  • Sketch of place of residence
  • A business plan on the specific project or business
  • If OFW has existing business prior to loan:
    • Contract Growing Agreement, Purchase Order or Service Contract
    • Certificate of Registration with DTI
    • Mayor's permit
    • Income tax return (last 3 years)
    • Financial statements (last 3 years, BIR-filed)
    • Latest Interim Financial Statement, if applicable
The OFW-EDLP is an enterprise development interventions and loan facility of the Overseas Workers Welfare Administration (OWWA) in partnership with the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP). It is a two-component package: Enterprise Development Interventions and Loan Facility. The EDT will empower the OFW on how to manage a business. It will also be the best opportunity to ask questions about the business loan. The aim is to help OFWs and their families in the establishment of viable business enterprises that will provide them with steady income as well as create employment opportunities in their community. The loanable amount for qualified individual borrowers is from Php 100,000.00 up to a maximum of P2 million. For group borrowers, they can borrow up to a maximum of P5 million. The loanable amount carries a fixed interest rate of 7.5 percent per annum for the duration of the loan. It can be used either as working capital or for acquisition of fixed assets needed for business operations. The program requires that the proposed project should have a ready market and should generate a monthly income of at least P10,000. Borrowers can choose a short-term loan, which can be paid within a year, or a long-term loan which is payable based on the cash flow but not to exceed seven years, inclusive of the maximum two-year grace period on the capital. Through DTI’s assistance, OFWs will have access to training and technical support in starting an enterprise, as well as opportunities to attend special events, such as conferences, exhibitions, symposium, caravans, and other promotional activities initiated by DTI and the private sector. HERE ARE THE DETAILS OF THE LOAN PROGRAM Who are Eligible for a Loan: An OFW who is a certified OWWA Member, active or non-active, and has completed the Enhanced Entrepreneurial Development Training(EEDT). OFWs working abroad may be represented by the following (with Special Power of Attorney, authenticated by the consul): If single, widow or widower; or separated-in-fact, by Parents who are not more than sixty (60) years old upon maturity of loan, or by children who are at least eighteen (18) years old at the time of loan availment. If married, by the legal spouse If the OFW or his/her Attorney-in-fact is more than 60 years old upon loan maturity, a co-maker of the loan shall be required. The co-maker may be the sibling or the children (of legal age). OFW returnees may avail of the loan program within three (3) 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. 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. 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 the EEDT. What are the Eligible Projects/Businesses? Franchising Business Contract tie-up with top 1000 corporations Agri- and non-agri production/manufacturing with identified market linkage and raw material sources Construction/rental business Service/trading business Transport service Other viable project, existing or new, that should generate a net cash flow sufficient to pay the projected amortization of the loan Project Cost Sharing Borrower's Equity is at least 20% of the Total Project Cost. Maximum Loanable Amount is limited to 80% of the Total Project Cost. Loan Security/Collateral The object of financing shall be required as loan security, as well as other documents as may be required by LBP/DBP in relation to business approval, such as: Torrens Certificate of Title (TCT), Condominium Certificate of Title (CCT), Tax Declaration (TD) and plans on mortgageable assets of the borrower; or Any loan security acceptable to the bank (OR/CR for Chattel Mortgage, Lease Rental Contract, Receivables, other Contract Agreements for the execution of the Deed of Assignment, Purchase Order, etc.) Here are the Steps To Availing an OFW-EDLP Loan: STEP 1. Verification of OWWA Registration For OFWs still outside the Philippines 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. 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 OWWA certification that the borrower is a bonafide overseas worker and has completed EDT Two valid IDs with signature Duly filled-out Application Form Statement of Assets and Liabilities Barangay Certification of residency Proof of Billing address Sketch of place of residence A business plan on the specific project or business If OFW has existing business prior to loan: Contract Growing Agreement, Purchase Order or Service Contract Certificate of Registration with DTI Mayor's permit Income tax return (last 3 years) Financial statements (last 3 years, BIR-filed) Latest Interim Financial Statement, if applicable 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. Loan evaluation, packaging, and approval shall be completed within 45 working days upon receipt of complete loan requirements. STEP 5. Approval of Loan If approved, Landbank will release the fund to the OFW.


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.
  • Loan evaluation, packaging, and approval shall be completed within 45 working days upon receipt of complete loan requirements.
The OFW-EDLP is an enterprise development interventions and loan facility of the Overseas Workers Welfare Administration (OWWA) in partnership with the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP). It is a two-component package: Enterprise Development Interventions and Loan Facility. The EDT will empower the OFW on how to manage a business. It will also be the best opportunity to ask questions about the business loan. The aim is to help OFWs and their families in the establishment of viable business enterprises that will provide them with steady income as well as create employment opportunities in their community. The loanable amount for qualified individual borrowers is from Php 100,000.00 up to a maximum of P2 million. For group borrowers, they can borrow up to a maximum of P5 million. The loanable amount carries a fixed interest rate of 7.5 percent per annum for the duration of the loan. It can be used either as working capital or for acquisition of fixed assets needed for business operations. The program requires that the proposed project should have a ready market and should generate a monthly income of at least P10,000. Borrowers can choose a short-term loan, which can be paid within a year, or a long-term loan which is payable based on the cash flow but not to exceed seven years, inclusive of the maximum two-year grace period on the capital. Through DTI’s assistance, OFWs will have access to training and technical support in starting an enterprise, as well as opportunities to attend special events, such as conferences, exhibitions, symposium, caravans, and other promotional activities initiated by DTI and the private sector. HERE ARE THE DETAILS OF THE LOAN PROGRAM Who are Eligible for a Loan: An OFW who is a certified OWWA Member, active or non-active, and has completed the Enhanced Entrepreneurial Development Training(EEDT). OFWs working abroad may be represented by the following (with Special Power of Attorney, authenticated by the consul): If single, widow or widower; or separated-in-fact, by Parents who are not more than sixty (60) years old upon maturity of loan, or by children who are at least eighteen (18) years old at the time of loan availment. If married, by the legal spouse If the OFW or his/her Attorney-in-fact is more than 60 years old upon loan maturity, a co-maker of the loan shall be required. The co-maker may be the sibling or the children (of legal age). OFW returnees may avail of the loan program within three (3) 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. 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. 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 the EEDT. What are the Eligible Projects/Businesses? Franchising Business Contract tie-up with top 1000 corporations Agri- and non-agri production/manufacturing with identified market linkage and raw material sources Construction/rental business Service/trading business Transport service Other viable project, existing or new, that should generate a net cash flow sufficient to pay the projected amortization of the loan Project Cost Sharing Borrower's Equity is at least 20% of the Total Project Cost. Maximum Loanable Amount is limited to 80% of the Total Project Cost. Loan Security/Collateral The object of financing shall be required as loan security, as well as other documents as may be required by LBP/DBP in relation to business approval, such as: Torrens Certificate of Title (TCT), Condominium Certificate of Title (CCT), Tax Declaration (TD) and plans on mortgageable assets of the borrower; or Any loan security acceptable to the bank (OR/CR for Chattel Mortgage, Lease Rental Contract, Receivables, other Contract Agreements for the execution of the Deed of Assignment, Purchase Order, etc.) Here are the Steps To Availing an OFW-EDLP Loan: STEP 1. Verification of OWWA Registration For OFWs still outside the Philippines 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. 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 OWWA certification that the borrower is a bonafide overseas worker and has completed EDT Two valid IDs with signature Duly filled-out Application Form Statement of Assets and Liabilities Barangay Certification of residency Proof of Billing address Sketch of place of residence A business plan on the specific project or business If OFW has existing business prior to loan: Contract Growing Agreement, Purchase Order or Service Contract Certificate of Registration with DTI Mayor's permit Income tax return (last 3 years) Financial statements (last 3 years, BIR-filed) Latest Interim Financial Statement, if applicable 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. Loan evaluation, packaging, and approval shall be completed within 45 working days upon receipt of complete loan requirements. STEP 5. Approval of Loan If approved, Landbank will release the fund to the OFW.


STEP 5.
Approval of Loan
  • If approved, Landbank will release the fund to the OFW.


 source: PIA, OWWA, DOLE

This article is filed under: Small Personal Loans Low Interest Rate, Refinance Loan, College Loans, Jumbo Loan, Get A Personal Loan



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