Overseas Filipino Workers or OFWs should make sure that they have the requirements needed before they submit their OWWA loan application. This is the constant reminder of the Overseas Workers Welfare Administration because of many complaints they have been receiving from OFWs who did not comply with the requirements when they submitted their respective applications. According to OWWA, OFWs should not blame any of the agency’s personnel when their applications are denied due to incomplete requirements. In fact, the agency assures them that all their loan requests will be processed immediately provided that they have attached all the needed requirements.
These loan programs give an equal opportunity to all OFWs to borrow money from the agency in order for them to start a new life in the country. These programs are still in accordance to the OWWA’s mission of aiding the OFWs because of their priceless contribution in strengthening the economy of the Philippines. It can be recalled that the country’s economy was not totally affected by the international economic recession happened in 2008 which greatly led big corporations to shutdown. Because of this, the agency lends financial assistance to OFWs provided that the latter submit their OWWA loan application.
All OFWs can avail these loan programs as long as they have the requirements needed in their OWWA loan application. These requirements will attest that they are really serious in applying in these loan programs. In addition, requirements such as feasibility study and business plan will be deliberately studied by designated OWWA personnel in order to determine the viability of the business being proposed by OFWs. The requirements set by the agency for the individual OFWs also differ from those of the group borrowers. OFWs may check out the agency’s website for the steps and requirements in OWWA loan application.
As of the moment, the agency still needs to process loads of OWWA loan application. However, the OWWA administrator assures the OFWs that all their applications will be processed on time that is why they should not worry. Moreover, more employees have been hired to assist the OFWs not only in availing loans but also other benefits programs that the agency offers. Hence, the agency encourages other OFWs to avail these programs that will surely benefit them. Aside from the agency’s main office in Pasay, regional and satellite welfare branches located nationwide are also open to accept OWWA loan application.