Livelihood Development Program for OFW
Program Title: Livelihood Development Program for Overseas Filipino Worker (OWWA-NLSF LDPO)
Program Objective: To help OFWs and their families start or sustain their own business through access to credit, capability building, market linkage and other forms of livelihood or entrepreneurial assistance.
Eligible Borrowers:
- All active and former member-OFWs of the Overseas Workers Welfare Administration (OWWA)
- OFWs' immediate family members (but only one family member per OFW can avail)
- For married OFWs: spouse or children of legal age
- For single OFWs: parents or children of legal age
- Former OWWA LDPO borrowers with good records of repayment
Loan Purposes:
- For short-term operating capital of new or existing business -two-year revolving credit line to be availed of via 30 to 180 days promissory notes.
- For permanent working capital (purchase of stock inventory or cost of franchise - 3 years repayment including one-year grace period on the principal
- For asset acquisition or construction (except for purchase of land - payable in 3 to 5 years including one-year grace period on the principal
Terms and Requirements:
Amount:
- Individual Borrower - maximum of P200.000.00.
- Organized and Registered Group of at least five members -maximum of P1.0 Million.
Interest Rates:
a. NLSF to Program Partners
- Interest: 3% per annum to be amortized with principal
- Service Fee: 1 % per annum to be deducted upon loan release and every start of succeeding year based on outstanding balance
b. Conduits to OFW borrower
- Interest: 9% per annum to be paid on maturity of short term loan or amortized with principal in case of 3-5 year loans
- Service Fee: 2% per annum payable upon loan release and at the start of every year thereafter based on outstanding balance
- Facilitation Fee: 3% one time for the entire term of loan (to cover for CI/BI, appraisal and processing expenses)
Security: Loans shall be 100% collateralized by any or a combination of the following unencumbered assets/rights: Real estate
- Chattel properties
- Stock inventories
- Receivables
- Insurance/pre-need policies
- Other types of collateral acceptable to the NLSF conduit
Loan Requirements for OFWs
- Proof of OWWA contribution
- Business Plan/Project Feasibility Study
- Business permit/license for on-going projects
- Financial statements in case of existing business Documents to establish borrower's relationship with the OFW (for beneficiaries)
- Collateral papers/ownership titles, etc.
Contact Details:
Overseas Workers Welfare Administration
7th St. cor. F.B. Harrison St., Pasay City
Tel.(02) 891-7601 to 24
Email: opcenter@owwa.gov.ph / owwa_opcenter@yahoo.com
Web: www.owwa.gov.ph
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December 25th, 2008 - 21:20
sir,
good day! can we get sample computation for the individual borrower amounted P 200,000.00? like sample computation for monthly payment plus interest for the whole year, plus other interest, and total amount for how many years to pay, so that we have a reference if we do the business.
Thank you.
January 26th, 2009 - 11:03
Good day, Im a pastry chef planning to open a bakery business.Im also a former OFW contract worker for 7 years. I have a complete bakery equipments but dont have a start up capital yet. Can u pls help me on how to start this business. How and what are the necessary requirements?.. Thanks and God Bless.
April 17th, 2009 - 16:10
good day… ako po ay ofw dito sa saudi arabia for 9yrs nw.. nakapag inquire na pod ako sa ganitong programa po ng owwa sa mga livelihood projects or a loan pero ang sagot po sa akin ay selected lang po ang pinapahiram o ino offered ng ganitong program specialy doon po ra mga rural areas nakatira. kapag sa city proper po nakatira ang isang ofw dyan sa pinas ay hindi po priority sa ganitong programa.. gusto ko po malinawan ito at gusto ko po talaga na mg umpisa po ng isang munting negosyo hindi po pinipili lang ang pinapahiram sa ganito pong programa.. Salamat po.
June 8th, 2009 - 10:38
Ma’am/Sir,
Tatay ko po ang nasa abroad hanggang ngaun at more than 15 years n po xa don, pwede po b kmi maka loan khit nasa abroad po ang tatay ko. Paano po at ano po ang mag requirements… salamat po.
June 8th, 2009 - 10:39
Ma’am/Sir,
Tatay ko po ang nasa abroad hanggang ngaun at more than 15 years n po xa don, pwede po b kmi maka loan khit nasa abroad po ang tatay ko. Paano po at ano po ang mga requirements… salamat po.
June 13th, 2009 - 16:38
Dear Sir/Madam,
Magandang araw po, paano po ba makakautang nang 200,000 pesos pr makapag start nang negosyo kami, nag inquire po ako pr sa father ko,at 2 kung kapatid pwede po bang lahat cla mag loan. Pwede po ninyo ibigay ang computation kung paano ang pagbabayad monthly pwede po ba mother ko po sana ang aayos,kasi dito pa sa Qatar ang father at kapatid bunso.
Maraming Salamat,
Rowena De Andres
July 1st, 2009 - 06:56
interested po ako mag open ng negosyo ano po b ang first step.
July 5th, 2009 - 17:44
sir
pede po malaman kong magkano ang interest for an individual borrower of p200.000.00,monthly payment plus interest for the whole year at ilang taon babayaran?thankyou
July 16th, 2009 - 15:10
hellow hinde nila sagot mga question dito pansin ko lng…
August 18th, 2009 - 14:59
Sir;
Former OPA(Overseas Performing Artist) sa Japan since 1992 up to 2006. Gusto ko po malaman kun Qualified ako maka avail sa OWWA Livelihood Fund and Free Trainings Progran ninyo to start a small business, kahit hindi na po ako naka alis, at kun anu-anu po ang requirements? Nais ko sana magtayo nang small business in Balloons ang party accesory. I need advice where I can get your free trainings.
Nais ko din po malaman in any way to detect my contributions from 1992 up to 2006. My only proof of receipt from POEA ay year 2006. Thank you.
God Bless…
Josephine
September 24th, 2009 - 13:07
Sir/Maam
Good day! Ako po ay isang OFW at gusto ko po mag negosyo nlang pero hindi sapat ang capital. Pwede po malaman kung magkano ang interest individual borrower of p200.000.00, montly payment plus interest for the whole year at ilang taon babayaran? Salamat po
September 29th, 2009 - 08:20
Good day!
Isa po akong OFW, More than 10 yrs na ako dito,Naririnig ko na itong LIVELIHOOD DEVELOPMENT PROGRAM FOR OVERSEAS, My wife was dati ring ofw, Gusto po naming mag negosyo na lang magtayo ng isang carenderia o restaurant,pero kulang at wala kaming sapat na puhunan, elligible naman po ako o ang aking asawa, interesado po kami.Can you please help me sir mam?
Can you send me a sample computation, hows the payment etc…
Thank you and more power!
Hoping and praying for your very reply.
November 12th, 2009 - 14:31
ahm,isa po aqng anak ng isang ofw.tanong ko lng po kung pwede pong mkapg livelihood loan c mama,kaso pwede po ba kh8 lumabas lng xa ng bansa,yr.1995-2000 po???????
November 26th, 2009 - 10:51
To whom it may concern:
Meron po bang loan na walang collateral?
How to obtain?
Please reply
Thanks
November 30th, 2009 - 22:32
Good day,
hello sir!Isa kong seaman na nag umpisa mag nigosyo and i see a good future dahil maganda ang nagiging takbo as of now.marami ang nagrerequest na na madagdagan ang mga tinda ko kaso wala ko magamit na kapital dahil sa last na contract ko ay nagbayad ako ng equity sa bahay ko at ngayun ay tinitirahan ko at dito ko din tinayo ang nigosyo ko na kainan.pwede po ba ko sa loan na ino offer nyo.magkano po at papano ang magiging bayaran.please i need it asap dahil nanghihinayang ako sa panahon na nasasayang.thanks a lot….
January 23rd, 2010 - 23:11
I am an OFW here in Cyprus and plans on putting up a business in Manila. I’d like to apply for a loan as an individual borrower. How much po ba interest if I will borrow 200k, how many months to pay? I will take my annual leave by this year and plan on going home in Manila for 1 month. What are the requirements? wala pa po akong property for collateral. can u help me? i’d very much appreciate your response. thanks.
January 29th, 2010 - 04:05
ask ko lng poh kung papanu po mga loan sa inyo pauwi na po kasi me ng pinas at balak kong mag negosyo na lng.pwede ko poh ba malaman kung ilang taon babayaran at anu mga requirements.at ilan ang interests..salamat.