How To Apply for OWWA Business Loan for OFWs

Guide on How To Apply for OWWA Business Loan Offer for OFWs

Here is a guide on how to apply for the business loan offer of OWWA for qualified OFW members with active accounts.

Have you heard about the Overseas Filipino Workers – Enterprise Development and Loan Program? Also called the OFW-EDLP, it is a business loan program offer of the OWWA for overseas Filipino workers (OFWs).

OWWA wants to help Pinoys working abroad to establish their own business. It is through the offer under the program that saw an opportunity to pull through the target and help OFWs craft a business that they can rely on if they no longer want to return abroad to work.

There is an easy process in applying for the OWWA Business Loan offer but the steps may vary depending whether the OFW is in the Philippines during the application or not. Here’s a guide:

Step 1 — Verification of OWWA Registration

Go to your OWWA Regional Welfare Office for the orientation/eligibility screening and processing/training.
If you qualify to the OWWA Business Loan offer, you will be given a certification of membership which will be presented to the Landbank Assessment.

If you are outside the Philippines, you can contact your designated Welfare Officer of the Embassy in your country through the email address. Your Welfare Officer will verify your OWWA registration and you will be referred to an OWWA Regional Welfare Office in the Philippines.

Step 2 — Enhanced Entrepreneurial Development Training (EEDT).

You will be advised to attend the EEDT which is conducted by OWWA, Landbank of the Philippines, and the Department of Trade and Industry (DTI). The Certificate of Attendance must be presented on the EDT to Landbank.

Step 3 — Submit all your requirements for review and inspection

Submit all your documents to Landbank. For existing projects or businesses, an inspection will be carried out. It may take 45 working days for the loan evaluation to conclude as well as the packaging and the approval.