Pinoy Worldwide

Gov't loan program helps former OFW set up own piggery

June 9, 2011 | 3:10pm

Wilma Batac of Guagua, Pampanga, was a dressmaker in Oman before she returned home and decided to set up a piggery business with her husband, who also worked abroad. In this video, she tells her experience in availing the loan she used to start the enterprise.

To understand more about the loan program, check out this video of a press conference taken during the first National Congress of Overseas Filipino Workers and Families last June 7. Labor Sec. Rosalinda Baldoz explains the rationale behind the program while Undersecretary Danilo Cruz shares some of the guidelines and steps in securing a loan from the government. The loanable amount may start at P300,000 and can go as high as P2 million. A 7.5% interest per annum applies with up to a maximum of seven-year term payment subject to loan project. Agribusiness, tourism, education and healthcare for the regions are only some of the more favored businesses the reintegration program will support.