A loan facility of up to P20 million is now available to overseas Filipino workers through a new government program jointly run by the Department of Trade and Industry and its financing arm, the Small Business Corporation.
The OFW Negosyo Fund, administered by SBCorp, is designed to help Filipinos working abroad establish or grow businesses back home. One of its more notable features is a collateral-free borrowing option covering up to P5 million of the total loan amount — something SBCorp describes as unique among government lending programs in the country.
Eligibility extends beyond active OFWs. Family members of OFWs, OFW-owned micro, small, and medium enterprises, and both newly registered and existing businesses may apply under the program.
Applicants will need to prepare a government-issued ID, a mayor’s business permit, proof of a bank account, and corporate documents where applicable. Applications can be filed through the DTI SBCorp Money App, available on Google Play and Huawei AppGallery, or through the web portal at app.sbcorp.ph.
SBCorp can be reached at (632) 5328-1100 or through its website at www.sbcorp.gov.ph.
