Guide on the Requirements for OWWA Business Loan OFW Applicants Must Submit To Apply
Here are the requirements in applying for the OWWA Business Loan offer for overseas Filipino workers (OFWs).
The Overseas Workers Welfare Administration, more popularly called OWWA, is one of the government offices that OFWs can turn to for loans. It has the Overseas Filipino Workers – Enterprise Development and Loan Program or the OFW-EDLP which aims to help Pinoys working abroad start their own business or expand an existing one.
Through the program, OWWA wants to help OFWs make a profitable business that can provide them an option if time comes that they no longer want to return abroad to work. To apply for the offer, there are requirements for OWWA Business Loan application that must be prepared and submitted.
For starting businesses
- Certification from OWWA confirming that you are a bonafide OFW and has finished the Enhanced Entrepreneurial Development Training (EEDT)
- two (2) valid IDs with signature
- duly-accomplished Overseas Filipino Workers – Enterprise Development and Loan Program (OFW-EDLP) Application Form
- Business Plan / Proposal
- Statement of Assets and Liabilities
- Barangay Certification of Residency
- Proof of Billing Address
- Sketch of the place of residence
For existing business
- Certificate of Registration with the Department of Trade and Industry (DTI)
- Bio-data applicant
- with growing contract agreement, if applicable
- Mayor’s Permit
- Income Tax Return in the last three (3) years, if applicable
- Financial Statements in the last three (3) years, if applicable
- Last Interim Financial Statement, if applicable
The loan offer is open for both overseas Filipino workers (OFWs) who are currently in the country for vacation and the ones who are in abroad or are about to leave the Philippines to return abroad. However, the steps for the application may vary.