The Overseas Workers Welfare Administration keeps encouraging many Overseas Filipino Workers (OFWs) to avail any OWWA loan program. This is in line with the OWWA’s mandate of helping out the OFWs in exchange of the latter’s endless contribution to the national economy.
OWWA LOAN PROGRAM – Photo credits to the rightful owner.
Moreover, these loan programs are also an answer for those OFW who really want to build their own business enterprises in the country in order for them not to go back and work outside the country anymore. This will also enable them to have regular income while they live with their respective children and families in the country.
In order to cater all overseas workers, OWWA decided to implement a less-demanding scheme in applying for these loan programs. This means that the agency only requires OFWs to submit documents that are really necessary in their application such as feasibility study, business plan, latest statement of account (for existing businesses), etc.
OFWs will have an opportunity to build their business
Through this scheme, more OFWs will have an opportunity to borrow capital from the agency that would solely be used in building their respective businesses in the country. On the other hand, the agency requires OFWs to comply with the set documentary requirements for each OWWA loan program.
Thus, OFWs should have adequate information regarding the requirements set by the agency in each OWWA loan program. This will surely give them time to prepare these requirements before they submit their loan request to any of the satellite and regional offices located all over the country.
For those OFWs who live in the NCR and nearby provinces
They can also save time and money because they know what requirements they will bring before they go to the agency. For those OFWs who live in the National Capital Region (NCR) and nearby provinces, they may go directly to OWWA headquarters in Pasay and submit their respective applications for OWWA loan program.
OFWs may also avail benefit programs that are being offered by the agency aside from applying for OWWA loan program. This is still part of the OWWA’s mission of promoting the welfare of OFWs. Moreover, it is also the government’s way of thanking them for their countless sacrifices just to meet the needs of their families in the country.
Some private organizations also assist the agency in generating more funds to create more benefit programs for the OFWs. Of course, OFWs should also comply with the requirements in availing these benefits, just like in applying for any OWWA loan program.