Qualifications for OWWA Business Loan Offer Application — A Complete Guide

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List of Qualifications for OWWA Business Loan Offer OFWs

Here are the qualifications in applying for the business loan offer of OWWA for overseas Filipino workers (OFWs).

Have you heard about the Overseas Filipino Workers – Enterprise Development and Loan Program of the Overseas Workers Welfare Administration or OWWA? It is a business loan offer that was crafted to help the OFWs build other source of income through a business.

If you are an OFW or you have loved ones who are working abroad, this can be a huge help to assist you in starting or growing a business. If you already have a profitable business in the Philippines, you will have the option on whether or not to return abroad to work.

There are qualifications set under the OWWA business loan offer for OFWs. To qualify, the the applicant must meet the following eligibility criteria:

  • certified OWWA Member, active or non-active
  • has completed the Enhanced Entrepreneurial Development Training (EEDT)
  • if the OFW is singe, a widow or widower, or separated-in-fact, he/she may be represented by his/her parents who are not more than 60 years old upon the maturity of the loan or children who are at least 18 years old at the time of the loan application
  • if the OFW-loan applicant is about to leave the country or is currently in abroad, he/she may represented by his/her spouse

Overseas Filipino Workers who want to apply for the OWWA business loan offer but are currently in a foreign country must execute a Special Power of Attorney duly-authenticated by the appropriate Philippine Embassy/Consulate. OFW loan applicants who are about to leave the Philippines may execute a Special Power of Attorney (SPA) prior to leaving the country.

According to OWWA, only one (1) OFW per family, within the first degree of consanguinity or affinity (parent, spouse, child), shall qualify for application under the program.

Requirements for OWWA Business Loan Offer for OFWs ads

There are documentary requirements that must be submitted to OWWA for application. It is important to be able to submit all the documents needed so for your application to be evaluated.

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