Overseas Filipino workers (OFWs) and their dependents from South Cotabato (SoCot) can now avail of the newly opened loan facility of the provincial government. The said loan facility exclusively caters OFWs and their dependents based in the province.

The head of the province's public OFW desk, Ma. Corazon Obenieta, said that a under the loan program, registered OFW or their dependent can avail of not less than P5,000 loan which is payable in two years.

She also said that they have initially allotted P1 million to at least 200 documented OFWs from 10 towns and lone city of the province

She also said that to provide financial assistance for at least 200 documented OFWs from the province's 10 towns and lone city they have initially allotted P1 million. They believe that it would be a great help for those who aspires to become entrepreneurs.

"We will help our OFWs or their dependents put up their own businesses by providing interest-free seed capital," she said.

The beneficiaries have their free-will to choose on whatever type of industry they want to start, but the local government will keep an eye or evaluate their progress on a regular basis.

Obenieta also said that their office will attend the weekly meetings and assemblies of the beneficiaries during the first year of the operation of their business and at least twice a month in the succeeding year to monitor the status of the business. They will also conduct trainings and provide some technical assistance at least twice a month.

"The project will incorporate as its own district fundamental feature the concept of self-management and capability-building with heavy emphasis on sustainability," Obenieta said.

Said program according to Obenieta will follow the Self-Employment Assistance for Kaunlaran or Sea-K program’s model of organizing the beneficiaries associations and will serve as credit medium of the OFWs and their dependents. 

SEA-K is a flagship livelihood initiative of the provincial government that has grown from just a small community-based credit assistance facility several years ago into a now province-wide network of micro-enterprises.

Micro-enterprise development program for OFWs in the province was established dependents as part of the nationwide part of the nationwide project of the Overseas Workers Welfare Administration (OWWA) to provide alternative source of living for OFWs and their dependents.

The program was conceptualized as part of the memorandum agreement between the provincial government and OWWA in November last year for the creation of the public desk and the implementation of various programs of the agency in the province in which OWWA will mainly fund the said programs.