OWWA Loan Program is one of the projects for all active members who want to start a business in the country.
I was a former Overseas Filipino Worker (OFW) in Jeddah, KSA for seven years before I decided to avail the OWWA Loan Program. At first, I was hesitant to venture into a business enterprise in our country since I have no business background. Moreover, returning home would mean taking a huge sacrifice as there were lots of uncertainties to think of especially that I am the breadwinner of my family. However, I really wanted to be with my loving wife and our six-year old daughter who grows up so fast and I want to take part in her crucial years.
As I was thinking of returning home someday for good, a friend of mine who is now based in the country had relayed to me about the Overseas Workers Welfare Administration’s (OWWA) loan program which she also previously availed. I was shocked after knowing that the agency had granted her PHP 500,000 loan money in just a short period of time.
Overseas Filipino Workers – Helpful Guide Information
Establishing her own poultry business
She had used the borrowed money in establishing her own poultry business in her hometown in Bulacan. From that moment, I became interested in applying for the OWWA Loan Program hoping that it would help me in establishing my own business in the country.
Processing of loan application
To tell you honestly, the processing of my loan application was not that long as compared with other lending institutions. In fact, in less than three months, I was called up by an OWWA representative informing me that I can claim my borrowed money amounting to PHP 600,000.00 at 7.5 % interest per year. One factor in the fast approval of my loan application was my compliance with all the documentary requirements which I checked on OWWA Benefits website. Another factor was that my proposed business, a marketing and retailing store, is in line with the agency’s priority.
At present, I am a proud entrepreneur here in Isabela and I can say that I now have enough time for my family while earning money to meet our daily needs. Like me, you can also start your own business venture in the Philippines with the aid of OWWA Loan Program. Just remember this quote, “If you don’t take risks, you will always work for someone who does.”
Overseas Filipino – OFW Guide