How to Apply for OWWA Loans



OWWA Loans can assist its members in fulfilling their plans to have a business in the country.



Many Overseas Filipino Workers (OFWs) are really interested in applying various loan programs being offered by the Overseas Workers Welfare Administration (OWWA). This is because they want to start their own business enterprises in the country in order for them to live with their children and families. As such, they frequently visit the agency’s regional offices which are located in different provinces to inquire on how they can apply in these OWWA Loans. In return, they are immediately attended to by various OWWA employees who are really welcoming to the OFWs as they answer their questions regarding these loan programs.

Popularly called as “new heroes” of the country, OFWs are being taken care of OWWA especially in promoting their well-beings. This is the government’s way of paying forward the sacrifices they made in order to provide their families with a more comfortable life, away from poverty. As they work hard abroad just to meet the daily finances of their respective families, OFWs also contribute in strengthening the country’s economy through the remittances they often send every second week and/or end of the month. Hence, it is only proper to oversee the welfare of OFWs while they work outside the country.

Overseas Filipino Workers - Helpful Guide Information

 

Among the benefits and services being provided by the agency which OFWs may apply in are the different OWWA loan programs. These are particularly advantageous to those who are planning to build or even expand their own local businesses. Because these loan programs are backed up by different public and private institutions, OFWs may borrow as much as PHP 2 Million provided that they meet the specific qualifications being implemented by OWWA. In addition, they also need to comply with the existing loan requirements which apply to both individual and group borrowers (although the latter has additional documents to submit).

Thus, OFWs are highly encouraged by the government to apply in these OWWA loan programs. By having a business in the country, they will no longer need to work abroad. Moreover, they can now happily live with their families and loved ones in contrast to having been far away from them when they were still working outside the country. In fact, they may personally watch over how their children grow and be able to attend the latter’s special events in school such as family day celebrations and of course, commencement and graduation exercises which also represent their success as parents.