Program Title: Livelihood Development Program for Overseas Filipino Workers (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.

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)
o For married OFWs: spouse or children of legal age
o For single OFWs: parents or children of legal age
* 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.


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
o Interest: 3% per annum to be amortized with principal
o Service Fee: 1% per annum to be deducted upon loan release and every start of succeeding year based on outstanding balance
* Conduits to OFW borrower
o Interest: 9% per annum to be paid on maturity of short term loan or amortized with principal in case of 3-5 year loans
o Service Fee: 2% per annum payable upon loan release and at the start of every year thereafter based on outstanding balance
o 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; and,
* Other types of collateral acceptable to the NLDC 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:

National Livelihood Development Corporation 
  Fax: (632) 817.2659

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