How to Apply for OFW Reintegration Program at LANDBANK?

LANDBANK and the Overseas Workers Welfare Administration (OWWA) forged a partnership to provide enterprise opportunities for OFWs on a sustainable basis.

DESCRIPTION
A program that will provide opportunities for OFWs to engage in business as alternative to overseas employment.

ELIGIBLE BORROWERS
Overseas Filipino Workers as certified and endorsed by OWWA to LANDBANK

ELIGIBLE PROJECTS
Viable projects with confirmed market or Purchase Order (if any) that will generate net monthly income of at least P10,000

ELIGIBLE LOAN PURPOSES
Working Capital
Fixed Asset Acquisition

PROJECT COST SHARING
Borrower’s Equity – Minimum of 20% of the Total Project Cost (TPC)
Loan – Maximum of 80% of TPC

LOANABLE AMOUNT
Minimum – P300,000
Maximum – P2,000,000

INTEREST RATE
Short Term Loan and Term Loan – 7.5% per annum fixed for the duration of the loan

LOAN REPAYMENT
Short Term Loan – maximum of 1 year
Term Loan – based on cash flow but not to exceed 7 years inclusive of maximum of 2 years grace period on the principal

PROCESSING REQUIREMENTS

  • OWWA certification that borrower is a bonafide overseas worker, has completed Enterprise Development Training
  • A business plan on the specific project that will generate income for OFW and his/her family
  • With contract growing agreement, purchase order or service contract, if applicable
  • Certificate of Registration with DTI
  • Bio-data of applicant
  • Mayor’s Permit
  • Income Tax Return (last 3 years), if applicable
  • Financial Statements (last 3 years, BIR-filed), if applicable
  • Latest Interim Financial Statement, if applicable
  • Statement of Assets and Liabilities

HOW TO AVAIL OF A LOAN?

  1. Visit the nearest OWWA Office and undergo orientation/necessary training.
  2. Secure the required OWWA Certification for submission to LANDBANK.
  3. Visit the nearest LANDBANK Lending Center or LANDBANK Branch for more information and evaluation of project proposal.

List of Overseas Workers Welfare Offices in the Philippines

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