OWWA Caraga hosts 1st webinar on enterprise development, loan program for 2022
BUTUAN CITY -- In line with the objective of the Overseas Workers Welfare Administration (OWWA)'s Reintegration Program under its Social Services and Family Welfare Service, OWWA Regional Welfare Office-Caraga, in partnership with the Landbank of the Philippines (LBP), and Department of Trade and Industry (DTI)-Caraga, recently conducted a webinar on Enterprise Development and Loan Program (EDLP) via Zoom.
Account office of LBP Agusan del Norte Rey Kenneth Isaac Correos discussed the Loan Features for the most part during the morning session followed by an afternoon session with the Trade and Development Specialist of DTI-SDS Jan Lehven Mantiza, who discussed the Business and Marketing Plan to the 79 participants of the webinar.
The EDLP, which was formerly known as OFW – Reintegration Program (ORP), is intended for Filipino migrant workers who want to establish a business enterprise as they decide to stay for good in the Philippines. This program is an enterprise development intervention and loan facility by OWWA. This is a good option for OFWs who own a start-up business but do not have the necessary capital to expand or continue.
Being its partner implementer of this program, the LBP provides the financing and facilitates the assessment of the applications.
The qualified applicants can avail of a loan amount of PhP100,000 up to PhP2,000,000 maximum once the presented requirements passed the evaluation, which will be used for additional capital to any legal business type. This loan program is on a collateral basis, hence, to become an eligible borrower, the OFW must present legit proof of any asset. (OWWA-Caraga/PIA-Caraga)
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