OWWA Loan – What You Need to Know

A Glimpse of What You Need to Know about OWWA Loan

The Overseas Workers Welfare Association or OWWA is a membership institution that conducts programs and offers services for overseas Filipino workers or OFW. Among the services the institution offers is applying for a loan facility. This gives you an opportunity to start a new life sans the burden imposed by commercial financial institutions.

If you plan to avail of OWWA loan, here’s what you need to know about this facility before applying for one:

What you need to know about OWWA Loans
Quick Facts about OWWA loan

Basis of OWWA Loan Program

The OWWA loan is in accordance to the P2-billion reintegration program of the government to help OFWs not only find but also build sustainable businesses to support them and their families. This way, they won’t have to go back abroad to make a living and generate sustainable income for the family.

Proposed business must be in line with any of the following:

  • Health care
  • Agri-business
  • Tourism
  • Franchising
  • Education
  • Construction or rental business
  • Transport service
  • Service or trading

Likewise, the purpose of the loan must be for working capital and fixed asset acquisition only and not for personal use.

The OWWA Loan Program

OWWA allows every overseas worker P100,000.00 to P2,000,000.00 for individual borrowers and up to P5,000,000.00 for group borrowers. You have an option to avail of short-term loan, which lasts for 12 months, or long-term loans shall not exceed seven years. For long-term loans, a two-year maximum grace period is included on the principal.

Interest rate for both short- and long-term loans is pegged at 7.5% per annum.

Basic Requirements

Only OFW applicants certified and endorsed by OWWA can avail of the loan program, which will be coursed through by Land Bank. To be certified, the applicant must comply with the basic requirements:

  • Overseas worker applying for the OWWA loan facility must provide a certification from OWWA to prove his/her status as bona fide OFW.
  • The applicant must attend and finish the Enterprise Development Training.
  • Submit proposed business together with purchase order and service contract or contract growing agreement.
  • Applicant must likewise present copies of, but not limited to the following:
  • Bio-data of the applicant
  • Certificate of Registration with DTI
  • Mayor’s permit where the business is located
  • Income tax return or ITR for at least three years
  • BIR-filed financial statements for at least three years, if applicable
  • Statement of assets and liabilities
  • Interim financial statements, if available
  • Loan security or collateral, which could be the object of financing or mortgageable assets like project assets or other assets of the borrowers

Where to Submit

Once you have the necessary documents, submit the requirements in OWWA Main Office located at F.B. Harrison St., Pasay, Metro Manila. You can also submit the requirements in the nearest regional office near your area. OWWA regional offices are located in various cities in Luzon, Visayas, and Mindanao.

Loan evaluation, processing, and approval will be completed within 45 days from submission of complete requirements.

35 thoughts on “OWWA Loan – What You Need to Know”

  1. paano po ba maka pag loan or personal loan ang isang active ofw taga bacolod city negros occidental po ako at kasalukuyan nag tatrabaho dito sa saudi arabia. eto po email add ko ([email protected]) maraming salamat and God bless.

  2. Good day po.pwde mag loan ako.business po na gagawin is sugar tree plantation.maaprovahan po ba pag ganun ung bussines na gagawin ko.thanks.

  3. Good day. Isa po akung seaman at plano ko po mag start ng buseness na manokan or native chicken farm kaso wala akung enough budget meron po ba sa owwa na mag apply ng buseness na manok yung native po my lupa ako 1000sqm at kung sakali meron sa owwa magkano ang pwedi ma loan para sa plan ko na buseness at ilang percent interest.

    1. Hi, best you visit your local OWWA Office to discuss on your next vacation here to discuss your project and their requirements.
      Unfortunately OWWA won’t accept online applications.

      You can also try a private lending company: Compare Seaman Loans
      Their rates will be a bit higher but they can process faster and without collateral.

    1. Yes. Just present necessary documentation (financial statement, business permit, barangay clearance, etc) when you apply for a loan.

  4. Hello po kasalukuyan po andito aq sa pinas,, nag aaply ulit sa hongkong.. Pwdi po ba akong makaloan…. More info. po eto ang aking number 09568717288 thank you maam and sir

  5. Hello po…ex-abroad po aq at balak n snang mgfor good dto s pinas pwede po b aq mka avail ng loan pang umpisa ng negosyo po?

  6. Hi good day po…ofw ho ako at gusto ko maka available sa ofw loan.. Rice field ang gusto ko e business…ask lamg ako ng advice kong pwede ho na ito…thanks

    1. HI Louie. The OWWA Loan is specifically for business purposes only. You can check government agencies like PAG-IBIG or SSS since they offer Housing Loans.

    1. You may apply with a co-maker. However, OWWA Loan is for business purposes only. You can consider private lenders for this type of purpose.

  7. Ako p si Alvin Molina tatanong ko kung puwede ko gawin colatteral yung apartment house n bibilin kp gamit ang parang hihiramin k pong pera s inyo I susurender kp titolo s inyo!pls reply p salamat p

  8. hi matutulungan po ba ako ng owwa kakauwi ko lng po last may..ayaw ko na po bumalik abroad makakaloan po ba ako? please answer me po salamat po

    1. If you are still an active OWWA member, maaari ka mag-apply ng loan para makapagsimula ka ng kahit maliit na negosyo. Otherwise, you can try private lenders din since hindi sila ganun ka-strikto sa mga requirements.

  9. Hello po.. Ask ko lang po if pwede po ba na ako na wife ang mag apply ng owwa loan if ever po na nasa ibang bansa na ang aking husband?

    1. OWWA requires the OWWA member to apply. Pero kung meron po kayong Special Power of Attorney na ina-allow kayo ni husband to apply, maaaring ma-process ang loan application.

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