OWWA OFW Business Loan — A Guide on the Qualifications for Application

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Check Here the OWWA OFW Business Loan Coverage

OWWA OFW BUSINESS LOAN – Here is a guide on the qualifications for the application to the Overseas Filipino Workers – Enterprise Development and Loan Program (OFW-EDLP).

In the Philippines, one of the government agencies that offers a lot of services to Pinoys working abroad is OWWA or the Overseas Workers Welfare Administration. It provides not only assistance for OFWs in times of crisis abroad but as well as loans.

One of the OWWA OFW Business Loan offers is the one under the Overseas Filipino Workers – Enterprise Development and Loan Program or the OFW-EDLP. It is open for a Pinoy working abroad who meet any of the following qualifications:

  • certified OWWA Member, active or non-active, and has completed the Enhanced Entrepreneurial Development Training (EEDT)
  • OFWs who are abroad or are about to leave the Philippines may be represented by the following:
    • If the OFW is single, widow or widower; or separated-in-fact, by:
      • Parents who are not more than sixty (60) years old upon maturity of load; or 
      • Children who are at least eighteen (18) years old at the time of loan availment.
    • If the OFW is married, by the legal spouse:
      • OFWs who are currently employed overseas shall execute a Special Power of Attorney (SPA) duly authenticated by the appropriate Philippine Embassy / Consulate. OFWs who are about to leave the Philippines may execute a Special Power of Attorney (SPA) prior to their departure from the Philippines. The Attorney-in-fact shall transact with LBP or DBP on behalf of the borrowing OFW by virtue of the SPA.
  • In case the OFW or his/her Attorney-in-Fact is above 60 years of age at the end of the loan term, the OWWA requires a co-maker. It can be a sibling or a child of the OFW in legal age and has the capacity to pay for the loan.
  • Overseas Filipino Workers who have returned to the country for good may avail the loan program within (3) years since the arrival to the country. However, this is not applicable if the OFW has an ongoing business at the time of the loan application.
  • Group of OFWs who formed themselves into a business entity, either as partnerships/stockholders /directors/officers /members are OFWs who have been certified as OWWA Members and have completed the EEDT
OWWA Business Loan for OFWs Loanable Amounts

The loan offer is open for both individual and group borrowers. The loanable amounts may vary if you will be applying as an individual or as a group.

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