To all OFWs, please do take advantage of the projects available that OWWA members can get especially these projects that allow you to have long-term benefits. After all, we won’t be OFWs forever and having a business to come back to in our home country is always a wise decision. As somebody who works abroad myself, it’s always important to keep in mind that we should have plans for our future, and this includes investing in businesses that can provide us with passive income even when we have retired.
Filipinos who are currently working abroad have so many options when it comes to programs that the Overseas Workers Welfare Administration offers. If you’re looking to start a business this year, you can consider applying for the OWWA Laundry Business Loan. This program allows OFWs to build a sustainable stream of income by opening a laundry shop in their local residence.
The Laundry Business package will meet the high demand while providing customers with the quality services they deserve. With this business, you can earn an extra income for the family while also contributing to your local community’s development and growth by creating jobs. OFWs can avail of the OWWA Laundry Business Loan through the Enterprise Development Loan Program. Read on to learn how to apply for the business program and start your laundry service.
What is the EDLP?
The Enterprise Development Loan Program (EDLP) is a specialized loan program offered by the Overseas Workers Welfare Administration for OFWs who are looking to start or expand their own business in the Philippines. It aims to provide financial assistance and support to OFW entrepreneurs, allowing them to become self-reliant and contribute to the economic development of their local communities. You can learn more about the EDLP program here –
Why Laundry Business?
Why not? The laundry business is a profitable and sustainable venture that can provide a steady stream of income for OFWs. With the rise of dual-income households, more and more people are seeking professional laundry services to handle their household chores. Additionally, with the increase in the number of working individuals, there is a growing demand for laundry shops near residential areas.
Moreover, a laundry shop can cater to various types of clients such as households, students, hotels, and even restaurants. It may have a high initial start-up cost but it does not require a lot of manpower.
Features and Benefits
The OWWA Laundry Business Package or the Make Money at Home with Your Family – OFW Negosyong Laundromat is a joint project of OWWA and the CS Laundry System Philippines Corp. & Northstar Instruments. It aims to help OFWs under the OWWA Reintegration Program by providing them with the means to start their own business.
By availing of the Laundry Business Loan using the EDLP program, OFWs will also get accredited training in order to ensure they can operate such businesses in the Philippines. To help participants realize their dream business after completing the training, OWWA partnered with LandBank to provide an easy loan facility.
Here are the key benefits of the laundry business program:
- Market Linkages
- Loan Assistance via LBP-OWWA EDLP Program
- Mentoring and Business Coaching
- Free OWWA Training
- Free Training on Laundromat Operations
The package includes three sets of Speed Queen Stacked Washer-Dryer. With the STLNX Stacked Washer-Dryer, you can enjoy the following features:
- Two years warranty
- 5-kilogram small capacity for quick installation
- 220 cfm airflow volume to ensure shorter drying time
- 440 G-force 1200 rpm extraction to save washer energy
- Lower water use with a minimum of 51.7 liters per washing cycle for lesser operating cost
The Automatic Voltage Regulator generates 1500 watts for the dryer and 1000 watts for the washer. When it comes to basic installation, the water filter components include a 21-gallon pressure tank, a 1000-liter water storage tank, and 1 1-hp booster tank with gas lines, ducting, electrical lines, machine housing, water lines, and accessories.
In terms of the free training, qualified participants will learn basic machine troubleshooting and maintenance, marketing operations, and daily handling of laundry attendants. Other inclusions are furniture with four chairs and one table, signage, laundry bags and baskets, free detergent and fabcon.
Requirements for OWWA Laundry Business Application
For the site requirements, you need a functional area of at least 30 square meters up to 40 square meters. A main drain must be in place and the water resource should be tapping-ready. Lastly, the electrical main breaker should have 100 amperes.
Some demographic suggestions include having direct access to any residential area, university or college campuses nearby, and proximity to hotels and other tourist accommodations. If you need more information, you can contact the nearest OWWA office in your area.
Qualifications
If you’re interested in applying for the laundry business loan, make sure you meet the following qualifications:
- Certified OFW and an active OWWA member
- Loan application through LandBank
- With up to 1 million loanable amount and 20% equity
- If needed, a collateral
How to Apply for OWWA Laundry Business Loan
For OFWs who are ready to embark on a new journey and start their own business, applying for a laundry business loan is easier than one may think. Follow these steps to apply for the program:
Step 1: Must meet the qualifications and requirements for the program.
Step 2: Get the application form online by clicking https://forms.gle/A4vMhLb9M6PySovG6.
Step 3: Complete the required details including your complete name, occupation, phone number, email address, OWWA region, country last worked in, target business location such as the address, zip code, or general area, source of business capital, and preference on how to be contacted.
Step 4: Review all the information you entered and tap Next.
Step 5: Select from the package participation options and click Next. The first option is Cash Payment where you get 30% payable when making a reservation, then 70% before the delivery schedule. The second option is Enterprise Development and Loan Program in which you will undergo free training and get a certificate as a requirement for the loan application. The third option is Cooperation with Partner Banks wherein the bank will contact you for financial arrangements.
Step 6: Make sure to read and review the Privacy Disclaimer and then submit it.
Step 7: Wait until you get a response for your application.
Video: Paano Kumuha ng OFW-EDLP Loan Mula 100,000
In this video, you will discover how to take advantage of the OFW-EDLP loan program for qualified OFWs. This OWWA loan facility aims to help Filipino migrant workers and their families how to explore opportunities to start their businesses.
OWWA Reminds OFWs to Avail of Programs
The Overseas Workers Welfare Administration is urging all OFWs who are planning to return to the Philippines for good to avail of its programs and services. These programs aim to help OFWs get back on their feet, adjust to life in the country, and provide them with opportunities for a sustainable livelihood. Here are some important notes so you always think long-term:
- Plan ahead and research potential business opportunities in the Philippines.
- Take advantage of OWWA’s training programs to enhance your skills and knowledge.
- Be aware of the requirements and qualifications for loan programs such as the EDLP for the laundry business package.
- Stay updated with changes and updates in policies, rules, and regulations regarding OFWs.
Summary
Now that you are aware of how the application process for the OWWA Laundry Business Loan via EDLP program works, you can consider venturing into the laundromat industry. This is a great opportunity for OFWs to create an extra source of income and provide a better life for their families in the Philippines. All you need to do is comply with the requirements and attend the free training sessions to learn how to manage a laundry business in your area.
Once you have all the requirements, you can process your application with LandBank to get your capital. You may be asked to provide collateral so make sure you are prepared for such a requirement. Complete the training so you can get the certificate and equip yourself with the skills and knowledge on how to succeed as a business owner.