Author Topic: LOAN FOR OVERSEAS FILIPINO WORKER OFW  (Read 949 times)

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CorporateCorps

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LOAN FOR OVERSEAS FILIPINO WORKER OFW
« on: May 11, 2012, 10:33:25 PM »
This is good news for our OFW.... makakapagload na through Land Bank.. maganda eto lalo na sa mga OFW na nagbabalak magnegosyo dito sa atin.


The Land Bank of the Philippines (Land Bank) has approved P129.3 million in loans under the Overseas Workers Welfare Administration’s (OWWA) Overseas Filipino Workers Reintegration Program (OFW-RP), which will benefit close to 200 OFWs.


In a statement, the Land Bank said that the OFW-RP aims to provide economic opportunities for OFWs including those affected by political crises in the Middle East and other countries seriously stricken by natural calamities.


Qualified OFWs may borrow from P300,000 to as much as P2 million at 7.5 percent interest per year payable within one year or a maximum of seven years, depending on the proposed project. Land Bank will extend loan up to 80 percent of the total project cost while the remaining 20 percent is the equity of the borrower.


Qualified borrowers are OFWs who are bonafide members of the OWWA and have undergone the required training. Eligible projects are those with confirmed market, market contract or service contracts that will generate an income of at least P10,000 every month.


“We at Land Bank are honored to be able to contribute to this program and provide financial assistance to affected Overseas Filipinos so they can start their own businesses and engage in livelihood activities. Many of our “balikbayans” will need our help and support during these challenging times, which is why it is important that we work together to provide sustainable economic opportunities for them,” said Land Bank president and CEO Gilda E. Pico.


Land Bank offers a range of loan products including project modules such as bangus in bamboo cages, tilapia culture in earthen pond, hog fattening project and native chicken project. The modules provide OFW-borrowers information on investment requirements and projected monthly income for the said projects.


Among the loans that Land Bank approved are working capital requirements for businesses in palay and rice trading, hog raising and fattening, agri-vet and poultry supplies, construction supply, trucking, transport, general merchandise trading, egg production, crop production, grocery, and service contracting, among others. More than 700 jobs have been created out of these businesses. (LB/RJB/JCP-PIA NCR)


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LOAN FOR OVERSEAS FILIPINO WORKER OFW
« on: May 11, 2012, 10:33:25 PM »

Mountain View

ZuvelCompany

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Re: LOAN FOR OVERSEAS FILIPINO WORKER OFW
« Reply #1 on: May 11, 2012, 10:36:01 PM »
Parang ang laki ng interest.... Papautangin ka nga  lubog parin sa interest .only for balikbayan loans .tapos bgo ka ma aprov sandamukal na requirements kailangan bka .dapat may land title clang ihold for u para papautangin ka kaya bahay pa.kapalit .hai sakit sa utak to. 2% nga masakit na sa bulsa 7 pa kaya pag nalugi pa un negosyo mo tas dka makapagbyad on time bahay kaya land title sanla na.hahahaha land bank pa??anyway maganda rin naman yan sa mga marunong sa negosyo sana naman magpa utang sila wag naman tambakan ng maraming requirmentz pahrapan pa...panu ung hnd kaya ang req,lolz dbli ng wala .ay wala lang utang gbi at araw di ka makatulog..

NeoGemini

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Re: LOAN FOR OVERSEAS FILIPINO WORKER OFW
« Reply #2 on: May 11, 2012, 10:42:23 PM »
It is possible po ba na mag loan not for business but i want to use it like kunyari to pay for school fees or to get master degree po?

Pwede kayang multipurpse loan eto?

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Re: LOAN FOR OVERSEAS FILIPINO WORKER OFW
« Reply #2 on: May 11, 2012, 10:42:23 PM »

 

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