How OFWs can avail the Enterprise

Development and Loan Program from

OWWA and DTI
Steps to avail the loan program:

STEP 1. Verification of OWWA Registration

* For OFWs still outside the Philippines

- Email the Welfare Officer of the Embassy that covers your country of work
about the OFW Reintegration Program.
- The Welfare Officer will verify your registration in OWWA as an OFW.
- Upon verification, the Welfare Officer in the Embassy will refer the OFW to
an OWWA office in the Philippines
- Upon returning to the Philippines, the OFW must visit the OWWA office to
get the certification

- This certification will be presented to Landbank.

* For OFWs already in the Philippines

- Visit the nearest OWWA office to verify your eligibility to the program
- If the OFW is eligible, a certification of membership will be issued, which
will be presented to Landbank for assessment.

STEP 2. Enterprise Development Training

- An eligible OFW will be advised to personally attend the Enterprise

Development Training (EDT) conducted by OWWA, DTI and Landbank
- The OFW must present the certificate of attendance on the EDT to
Landbank as part of the requirement.
* The EDT will empower the OFW on how to manage a business. It will also
be the best opportunity to ask questions about the business loan.

STEP 3. Preparation of Business Pland and other requirements

The OFW must prepare the business plan and other requirements of Lanbank
* Processing requirements for the loan
 - OWWA certification that the borrower is a bonafide overseas worker and
has completed EDT
- A business plan on the specific projecy that will generate income for OFW
and his/her family
- With contract growing agreement, purchase order or service contract, if
applicable
- Certificatie of Registration with DTI
- Bio-data of OFW 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

STEP 4. Submission of Processing Requirements, Review and

Inspection

- Submit your business plan and other requirements to Landbank for

review.

- Inspectin of your business (if already existing) will be done

STEP 5. Approval of Loan

- If approved, Landbank will release the fund to the OFW.

Other information:
Eligible borrowers - Overseas Filipino workers 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

Loanable amount - Minimum of P100,000 and maximum of P2,000,000

Interest rate - 7.5% per annum fixed for the duration of the loan
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