OFW Migrant Worker Loan

Apply for OFW Loan with Us Now!

Back in the early 2012, migrant worker loan for OFWs have been earning a good reputation for being one of the most availed loan in the Philippines. OWWA does not have this. A few years back from today, 2016, this loan has been stopped due to the increase of delinquent accounts and lending companies finding no reason to offer it. It is due to decrease in Filipino paying loan borrowers who mostly work or have migrated to work abroad or is a citizenship holder in a foreign country as OFW. Leaving only their immediate family member or relative to pay for the loan as their principal borrowers, the payments were usually either not being remitted or not paid by the principals here in the Philippines.


This year, 2016, private lending companies such as PJH, Sazu, 123 Lending, Asialink and Global Dominion have opened up their loan process to accepting OFW loan once more. Also this year, the OFW migrant worker loan have paved the way to open up with more and more loan products to venture in for some of these top OFW loan lending companies. With the opening of the migrant worker loan, OWWA is now left on the no man island because of the poor service to lend money to deserving overseas Filipino workers. If you are one of those who are looking to borrow money for leaning to family or extra expenses to use before departure, below is the complete list of requirements and pre-qualifying status that a migrant worker needs to fulfill in order to qualify to apply for this particular loan. On the other hand if you want to find more about how an OFW may apply for car loan, please visit here - http://www.autoloanphilippines.com/.

OFW Migrant Worker Loan Requirements Checklist

MIGRANT WORKER LOAN

Requirements:

• Certificate of Employment with compensation or Contract
• Company ID
• Passport with signature and with latest exit & arrival stamp
• Valid Visa / Work Permit
• International #, FB, Email
• Letter of Intent/Authorization ( for loan application )
• Filled up Application Form Online and Signed downloadable Promissory Note

Principal Borrower:

• Spouse, Common-law with children, Parents and Siblings
• Application Form
• 2 valid id's and 2x2 picture
• Electric / Water Bill Latest
• Latest 3 months proof of remittance

Co-borrower:

• Relative with income - proof of income
• Application Form
• 2 valid id's and 2x2 picture
• Electric / Water Bill Latest

If you want to apply for this particular loan, let me remind you though that this type of non collateral loan offer is currently accepting application from immediate family members and common law wives with children to the OFW abroad who may either be as follows below:

1. OFW with working visa
2. immigrant
3. resident
4. naturalized or natural born citizens

All of which who are listed above must have a regular source of income or job and can present or submit the listed requirements. Interested parties may apply by visiting this page.