Ofw Loan Program

Topics: Overseas Filipino, Loan, Philippines Pages: 2 (331 words) Published: August 13, 2012
For further information and/or assistance, please contact:
LANDBANK - Program Management Group (PMG) 28th Floor, LANDBANK Plaza 1598 M.H. del Pilar St. cor. Dr. J. Quintos St., Malate, Manila Tel. Nos. 522-0000; 551-2200 Locals 2307, 2381

OFW Reintegration Program


LANDBANK and the Overseas Workers Welfare Administration (OWWA) forged a partnership to provide enterprise opportunities for OFWs on a sustainable basis.

LOAN REPAYMENT Short Term Loan - maximum of 1 year Term Loan - based on cash flow but not to exceed 7 years inclusive of maximum of 2 years grace period on the principal

ELIGIBLE BORROWERS Overseas Filipino Workers as certified and endorsed by OWWA to LANDBANK

ELIGIBLE PROJECTS Viable projects with confirmed market or Purchase Order (if any) that will generate net monthly income of at least P10,000

ELIGIBLE LOAN PURPOSES Working Capital Fixed Asset Acquisition

PROJECT COST SHARING Borrower’s Equity – Minimum of 20% of the Total Project Cost (TPC) Loan – Maximum of 80% of TPC

PROCESSING REQUIREMENTS • OWWA certification that borrower is a bonafide overseas worker, has completed Enterprise Development Training • A business plan on the specific project that will generate income for OFW and his/her family • With contract growing agreement, purchase order or service contract, if applicable • Certificate of Registration with DTI • Bio-data of applicant • Mayor’s Permit • Income Tax Return (last 3 years), if applicable • Financial Statements (last 3 years, BIR-filed), if applicable • Latest Interim Financial Statement, if applicable • Statement of Assets and Liabilities

LOANABLE AMOUNT Minimum – P300,000 Maximum – P2,000,000

HOW TO AVAIL OF A LOAN? 1. Visit the nearest OWWA Office and undergo orientation/necessary training. 2. Secure the required OWWA Certification for submission to LANDBANK. 3. Visit the nearest LANDBANK Lending Center or LANDBANK Branch for more information and evaluation of project...
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