How OFWs Can Avail OWWA Philippines Loan


OFWs Can Avail OWWA Philippines Loan - this is a major program to cater the needs of its members.



From the time it was created, the Overseas Workers Welfare Administration (OWWA) never fails to function as the main government agency that promotes the interest of millions of Overseas Filipino Workers (OFWs) located in different countries around the world. This is in appreciation for the sacrifices they had made just to provide the daily finances of their respective families in the country, especially in sending their children to schools. 


owwa philippine loan


As such, part of OWWA’s mission is to attend the needs of OFWs as they work very hard not only for their respective loved ones but the country’s economy as well.

It is true that the remittances being sent monthly by OFWs to their families in the Philippines really contribute to the national economy. As a matter of fact, it can be recalled that the economy remained strong amidst the occurrence of global economic recession in 2008 that led various large banks both in America and Europe to bankruptcy. Hence, OWWA had launched its OFW Reintegration Program in 2011 to help OFWs who choose to settle down in the country for good to start anew. In this way, they are being paid forward for what they had contributed to the Philippines.

Overseas Filipino Workers - Helpful Guide Information

 

With the support from other government institutions such as the National Reintegration Center for OFWs (NRCO); Land Bank of the Philippines (LBP); and Development Bank of the Philippines (DBP), OWWA was able to generate a total amount of PHP 2 Billion which OFWs may avail to start their own businesses in the country. They may borrow from PHP 300,000.00 up to PHP 2 Million provided that the money will serve as their capital in building or expanding their business establishments as well as in acquiring various equipment or machineries that are really necessary for the continuity of their respective productions.

On the other hand, OFWs who are interested and willing to apply in this OWWA loan program need to submit their application papers together with corresponding loan requirements. These documents are necessary in order for their loan requests to be processed as soon as possible. In addition, the personal data of OFW applicants who visit any OWWA Regional Welfare Office located in different provinces in the country are also verified through the agency’s membership database. This is to determine whether they are real OWWA members who had monthly contributions to the agency while they were still employed outside the country.