Monday, March 2, 2015

OFW Reintegration Program (OFW-RP)


Description

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

Eligible Borrowers

OFWs certified by OWWA on membership and capacity building program attended

Eligible Projects

Viable projects that will generate a net income of at least equal to the poverty threshold set by NEDA.

Loan Purpose

Working Capital
Fixed Asset Acquisition

Amount of Loan

Minimum of P300,000
Maximum of P 2 Million

Term of Loan
Based on cash flow  but not to exceed 7 years (inclusive of 2 years grace period)

Loan Security
REM
Chattel on Machinery & equipment
Hold-out on deposit
Deed of Assignment on inventory & receivable

SOURCE