Overseas Filipino workers’ organizations can now look forward to the 300-million livelihood program financial assistance allocated by the Overseas Workers Welfare Administration (OWWA).
According to the Philippine Information Agency website, the program known as “Tulong Pangkabuhayan sa Pag-Unlad ng Samahang OFWs” (Tulong Puso) aims to provide the needed capital, raw materials, tools, equipment, and support to qualified OFW organizations who are aiming to start up, enhance or restore their businesses and/or livelihood projects.
The assistance is given one-time and will range from Php250,000 to Php1,000,000 depending on the enterprise with maximum loanable amounts at Php250,000 for organizations with 15 to 25 members, Php500,000 for 26 to 50 members and Php1,000,000 for organizations with 51 or more members.
Opportunities to Engage in Local Business Expected Thru OWWA’s Tulong Puso Program
Eligible projects can come from different sectors, which include agriculture, tourism, manufacturing, wholesale and retail trade, and locally based industries on priority products and tourism.
In order to qualify, the organizations need to be accredited first by these three government offices: Department of Labor of Employment (DOLE), the Securities and Exchange Commission (SEC), and Cooperative Development Authority (CDA).
Applicants will then need to submit the registration documents together with the following documentation:
- certificate of entrepreneurship development training,
- the organization’s complete details including the personal information of its members;
- business permit issued by the LGU;
- outline of the business project which includes details of the proponent’s capacity to shoulder the equity amounting to 20% of the total project cost and physical sketch of the project site; and
- board resolution authorizing a business manager to file a notarized application for the program on behalf of the organization.
The project aims to encourage OFW organizations to venture into economically feasible business activities and DOLE-OWWA is prepared to complete the necessary training and social preparation intervention to ensure the success of the OFW groups’ chosen enterprise.