OWWA Business Loan is a program designed for both current and former Overseas Filipino Workers (OFWs). These programs are one of the many proactive responses extended by the Philippine government to neutralize the negative effects of pandemic especially to OFWs who are considered to be modern-day heroes.
It cannot be denied that this pandemic has adversely affected them particularly those employed in different companies abroad which needed to minimize their workforce as a result of low demand for their services.
Thus, many of our OFWs were retrenched and returned to the country with little savings. As such, the Overseas Workers Welfare Administration (OWWA) spearheaded the launch of these OWWA business loan programs to help our OFWs get along with the challenges brought by the pandemic.
There are two major OWWA business loan programs that OFWs may avail of, namely: (1) Balik Pinas! Balik-Hanapbuhay Program and (2) Overseas Filipino Worker – Enterprise Development and Loan Program (OFW- EDLP). Both loan programs are intended for OFWs who wish to establish a business of their own choosing here in the Philippines. It is a fact that a business, regardless of its size, augments one’s income. It is also a good investment for OFWs who still want to stay in the country for good after saving money through working abroad.
Documentary Requirements Needed for OFWs
It is to be noted, however, that there are documentary requirements that OFWs have to submit to avail any of these programs. Further, Balik Pinas! Balik Hanapbuhay Program and Overseas Filipino Worker – Enterprise Development and Loan Program offer different livelihood and financial packages.
Balik Pinas! Balik Hanapbuhay Program is a livelihood assistance package suited for OFWs who wish to establish a business, belonging either to agricultural or non-agricultural industry. This program entitles an OFW to cash assistance amounting to PHP 20,000.00. The following are the requirements to avail this program:
Department of Migrant Workers is a new government agency for overseas filipino #owwabenefits #ofwguide workers.https://t.co/6mGWtyRrbs pic.twitter.com/YS9xVdfxkb
— Overseas Filipino (@OverseasPinoy) November 7, 2022
Application Form. This can be downloaded from the OWWA website.
Certificate in Entrepreneurial Development Training. This is issued upon attendance and completion of training facilitated by a government agency like Department of Agriculture for agriculture-related businesses and the Department of Trade and Industry for non-agriculture-related businesses.
Business plan or proposal. This must be approved by the OWWA Regional Director of your province.
Proof of Repatriation or Return to the Philippines
On the other hand, for OFWs who wish to establish a business that needs a huge capital, they can avail of the Overseas Filipino Worker – Enterprise Development and Loan Program (OFW- EDLP). The assistance being offered by this OWWA business loan program depends on the structure of business OFWs want to establish. For single proprietorship, they may borrow from PHP 100, 000 up to PHP 2,000,000 while for partnerships, corporations, or cooperative, OFWs may borrow from PHP 100,000 up to PHP 5,000,000. However, the loan is subject to 7.5 % annual interest.
Qualifications and Documentary Requirements
The following are the qualifications and documentary requirements to avail the Overseas Filipino Worker – Enterprise Development and Loan Program (OFW-EDLP):
Applicants must be an OWWA member, either active or non-active.
They must undergo an enhanced entrepreneurial development training.
They must prepare a business plan.With these OWWA business loan programs, it is hoped that OFWs may survive in this pandemic
Sir man..ask ko sna paano mg loan sa owwa..kasi my busines po aq 2020 .vegetable fruits dealer.kya lng nong ng pandemec..na bangcrap po ako..kya gusto ko sanang ipagpatuloy ..kung my pgkakataon na mka loan aq sa owwa
Magandang araw kabayang Felomina, For OWWA loan programs po i-check lang ang site na to and prepare the needed requirements po – https://www.owwabenefits.com/owwa-loan-for-ofw/
Magandang araw kabayang Felomina, For OWWA loan programs po i-check lang ang site na to and prepare the needed requirements po – https://www.owwabenefits.com/owwa-loan-for-ofw/
isa po akong dating ofw for almost 25 years napa uwi po itong last feb.2021 dahil po sa pandemic sa qatar,gusto ko po magloan para sa sarisari store po
Good day kabayang Ricardo.
Basahin niyo po itong mga link para matugunan po ang inyong katanungan tungkol sa benefits ng OWWA:
OWWA Business Loan https://www.owwabenefits.com/wp-admin/post.php?post=2375&action=edit
Sana po ay nakatulong God bless!
Magandang araw po kabayang Felomina, Para po makapag loan sa OWWA ay may mga requirements mo na kailangan maipasa at makapag fill up po ng form. Andito po ang ibang detalye – https://www.owwabenefits.com/owwa-loan-for-ofw/
GOOD Day po, SIR /MADAM, isa po akong OFW GALING KUWAIT na umuwi dahil sa Pandemic Last October 8, 2020. until now wala pa po akong work at gusto ko magpatayo ng business kaso wala po akong starting capital may tatlo po akong anak need ko po ang help niyo po..please tuluyang niyo po ako…my contact number #09508974011…rsmaulana0228@gmail.com..thanks po
Magandang araw po sa kinauukulan sa owwa may plano po sana akong magsimula ng negosyo kung sakali po na mag retiro na ako dito sa co.ko sa Saudi Arabia.medyo malaking halaga po ang kkailanganin ko para makapag simula ng aking negosyo ito po ay isang hatchery or nursery ng african hito Catfish sana po ay matulungan ako ng owwa o ng inyong ahensya para maisakatuparan ko po ito maraming salamat po.Reynaldo C.Santos jr.from Hagonoy Bulacan.
reynaldos383@gmail.com