OFW LOAN
Kababayan! Apply now for a OFW Loan
Loans made simple for everyone.
Get approve in 5 minutes lang.
Better LOANS, Better LIFE
Create breathing space in cash crisis
Risk FREE
all our loans are covered with a 7 days service quarantee unconditionally.
Transparent
borrow with assurance because you see all your costs up front with no nasty surprises.
Cost Effective
save on interest when you make an early settlement without incurring any penalty fees.
How To Qualify For
Our OFW Loans
Eligibility Requisites for OFW (Land-based) Allottee
- Must be at least 21 years old.
- A Filipino Citizen
- Must be able to submit:
- Government Issued ID
- Latest Proof of Billing
- Employment Contract (for OFW)
- Contract (POEA Validated)
- Colored Passport ID (for OFW)
- Colored Working Visa (for OFW)
- 6 months latest Remitance Slip
- Proof of Relationship (Birth Cert, Mariage Cert, etc.)
Eligibility Requisites for OFW (Land-based) Allottee
- Must be at least 21 years old.
- A Filipino Citizen
- Must be able to submit:
- Government Issued ID
- Latest Proof of Billing
- Seaman's Passport
- Seaman's Book
- Seafarer's Registration Certificate (SRC)
- Seafarer's Overseas Employment Certificate (OEC)
- Seafarer's Employment Contract w/ POEA validation
Pano mag-quick loan sa Cash Mart?
What Our Customers Saying
OFWs have unique needs. This is the reason why OFW loans are specially made for them. Even before reaching the shores of another country where they are about to work, the OFW’s main problem is where to get the money to process their application. Some pawn their family heirloom, others mortgage their homes, many sell their lands, and a lot of them get unsecured loans. Then, they also have to wait a month before they receive their first salary. This adds up to their worry about how their family could survive that dry month. With so many hardships our OFWs go through, it is only fitting to give them a Pinoy OFW loan exclusively for theirs and for their allottees.
A Lot Of OFWs Apply For Loans. However, There Are Certain Reasons Why Many Also Fail To Get Approved.
Understand and avoid the following when you apply for your OFW online loan application.
Some OFWs falsify their documents
A lot of moneylenders are willing to give OFW loan online. However, no matter how badly you need a loan, never fake your documents. This is very unprofessional, and if the lenders find out, they might take legal action against you, and this will cause more problems. If you get convicted, this will show in your NBI and police records, ultimately diminishing your dream to work abroad.
Having low or no credit score.
Most moneylenders base your creditworthiness on your credit score. The credit score reflects your credit history. Your score will flank if you did not diligently pay your previous loans, especially bank loans. There are moneylenders who offer loans to those with a low credit score. Shop around for other options by surfing the net, asking friends, and searching on various social media.
Failure to produce required documents
Most of us have experienced falling in line for long hours just to claim a legal document or government IDs. Usually, these do not come cheap too many of us don’t get this paperwork unless we really need to. In the end, we procrastinate. This is why some OFWs can’t present complete OFW loan requirements when moneylenders ask for them. It is better to keep your documents at hand and have them scanned to have soft copies readily available.
Low basic salary in the contract
Some moneylenders do not approve loans if your indicated salary is less than P25,000. You can choose other moneylenders who require a less minimum salary. However, never falsify your document.
No guarantor or co-maker
There are moneylenders who required guarantors or co-makers before they can approve a loan. Lenders have different terms and conditions. Take time to shop around for those which do not require a guarantor. Having a guarantor is beneficial for lenders as this can be their safety net in case they are unable to pay up your loan. However, it can create a rift between you and your friend or relative who stood as your guarantor.
Cash Mart understands the unique financial needs of OFWs and their families. This is why we have created the most flexible OFW loan Philippines available when you need it the most. You may be an OFW who will be paying your existing debts, a balikbayan who wants additional capital for a small startup business, or a parent who wants to take the kids in a once in a lifetime vacation while you are still at home, whatever is the need, Cash Mart OFW loan will fit just right.
OFWs and Seafarers are known for their hard work and dedication to give their families financial support in exchange for sacrificed quality time with their loved ones. However, there are cases when OFWs go home without any savings or investments. Cash Mart is not any other moneylender. We aim to be your financial partner who will also give you empowerment on how you can best save your hard-earned money and retire with your mind at ease.
We all know banks have very strict policies when it comes to loans, and they also don’t have short-term loans to avoid risks. With a long list of paperwork, the banks will take a longer time to validate and process loans, leading to too much wasted time for the client. On the other hand, you can get in touch with Cash Mart, check our online loan calculator, and inquire about our flexible loans. And the best part of it? There is no need to visit us in our office. All our transactions are done online. Our staff will be ready to walk you through the quick and easy loan process to save you time.
