9Feb/10467
Livelihood Development Program for OFWs
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
Target Clients:
- 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)
- Former OWWA LDPO borrowers with good records of repayment
Loan Purposes and Repayment Period:
- 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 for 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/Requirements
Loan Amount:
- Individual Borrower - maximum loan of P200.000
- Organized and Registered Group of at least five members -maximum of P1.0 Million.
Interest Rate:
- NLDC to Program Partners Interest: 3% per annum to be amortized with principal
- 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
Contact Details:
National Livelihood Development Corporation
4th Floor, Hanston Building, F. Ortigas Jr., Road Ortigas Center, Pasig City 1605
Phone: (632) 914.7290 to 97 • (632) 631.2955/57 Fax: (632)631.2953/54
e-mail: nlsf-info@nlsf.gov.ph
Web: www.nlsf gov ph
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