OWWA Loan for OFW: How to Apply for Business Loan

March 6th, 2009 posted by Philippines Review
Overseas Workers Welfare Administration (OWWA) loan is an important part of this agency’s program. Offering loan of up to Php 50, 000.00 to today’s Overseas Filipino Workers (OFW) who were displaced because of the economic crisis happening all over the world, Overseas Workers Welfare Administration offers this business loan.

For those who are looking on how to apply for the Php 50,000.00 OWWA loan, you can inquire online via telephone. Call 551-66-42 for more information. The loan being offered will require the OFW to take a business training first before it will be awarded. Loan is also totally free of interest and will be paid under a 2-year program according to a report tonight by the ABS-CBN.
3 Loan Purposes Accepted by OWWA
  1. Working capital – for purchase of merchandise goods and/or raw materials
  2. Business assets acquisition (except lot) – for purchase of machines/equipment
  3. Business site construction or improvement
Eligible OWWA Loan Borrowers Are
  1. Member-OFWs and former member-OFWs
  2. For single OFWs: parents or siblings of legal age
  3. For married OFWs: spouses or children of legal age
  4. OWWA LDPO beneficiaries with good repayment records
  5. Their immediate family members (one family member per one OFW)
  6. Legally organized groups of OFWs (partnerships / corporations, OFW organizations / associations / cooperatives & Federations)