With this program tie-up between LANDBANK and the Overseas Workers Welfare Administration (OWWA), OFW Reintegration Program, business opportunities are provided to Overseas Filipino Workers (OFWs). With our credit assistance, you can now put up and run your own business as an alternative to your overseas employment.
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.
Customer Care Hotline
(+632) 8 405-7000
PLDT Domestic Toll Free
1-800-10-405-7000
Email Address
customercare@mail.landbank.com
