ELIGIBLE BORROWERS
• OFWs certified by OWWA on membership and capacity building program attended
ELIGIBLE PROJECTS
• Viable projects belonging but not limited to, the following fields: franchising, agri and non-agri production and marketing, construction, rental, service, trading, transportation
• Contract tie - up with top 1,000 corporations
LOAN PURPOSE
• 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
LOAN AMOUNT
Minimum loanable amount of P100,000 with the following loan ceilings:
• P2 million for single proprietorship
• P5 million for group of OFWs (partnership, corporation, or cooperative)
INTEREST RATE
Short Term Loan and Term Loan - 7.5% per annum fixed for the duration of the loan
LOAN REPAYMENT
• Short Term - maximum of one year
• Term Loan - based on cash flow but not to exceed seven years, inclusive of a maximum two years grace period on principal
COLLATERAL
• Object of financing and/or other collaterals/securities acceptable to the bank
HOW TO AVAIL OF A LOAN
1. Visit the nearest OWWA Office and undergo orientation/eligibility screening and processing/necessary training
2. Secure the required OWWA certification for submission to LANDBANK
3. Visit the LANDBANK Lending Center/ Lending Unit nearest to your place of residence or business for more information and evaluation of project proposal.
