How to Apply HEROES Loan Program for OFWs

Overseas Pinoy workers who have been repatriated from their work country and are in need of assistance, the OFW HEROES program has been launched as a loan program up to PHP 100,000 for applicants who want to venture into a start-up business. Here we share more information about the requirements, how to apply for HEROES, and other important steps about this project.

Also Read: How to Apply OFW RISE Program

Many OFWs have been affected by the pandemic and there are a variety or OWWA programs for educationOWWA livelihood projects as well as semi-government programs like the OFW RISE. These OFW projects assist Pinoys that enable them to have something to do after being laid off from their jobs or have returned home for good.

ofw heroes program

HEROES (Helping the Economy Recover thru OFW Enterprise Start-ups) – Loan Program

The Small Business Corporation (SB Corporation) has launched a P100-million loan facility for COVID-19-affected repatriated Overseas Filipino Workers (OFWs)

Helping the Economy Recover thru OFW Enterprise Start-ups (HEROES) is a component program of the Department of Trade and Industry’s (DTI) Pondo sa Pagbabago at Pag-asenso (P3) fund. This lending initiative aims to assist repatriated OFWs in rebuilding their life by giving them the opportunity to start their own businesses.

Returning OFWs who were retrenched due to the COVID-19 pandemic must present a video pitch of their start-up business proposal under the HEROES Program, which includes key components such as the nature of the business, product knowledge, management capability, market opportunity, competitive advantage, financial understanding, and business continuity.

What is the HEROES Program?

HEROES is basically a loan program that offers no interest and no collateral required. This program is implemented by the Small Business Corporation, a government-run financial institution that assists Micro, Small & Medium Enterprises (MSMEs) in all areas.

The HEROES project has an allotted budget of PHP 100 million and it is a project under the Pondo sa Pagbabago at Pag-asenso (P3) CARES Program. It is intended for land-based and non-professional repatriated OFWS who plan to launch a small business.

What are the Benefits of HEROES Program?

Below are some specific benefits if an OFW will avail of this project:

  • OFWs can borrow a minimum of P10,000 and a maximum of P100,000
  • Zero-interest rate
  • No collateral required
  • A 6% service fee will be applied to loans with a payment duration of 24 months.
  • 8% for loans with a 36-month repayment duration (inclusive of 12 months grace period).

What are the Qualifications?

Those who are eligible to apply for the HEROES program include the following:

  • Land-based OFWs who have returned to the Philippines due to layoffs caused by the COVID-19 pandemic and its economic consequences.
  • Non-professional OFWs who have returned to the Philippines due to layoffs caused by the COVID-19 pandemic and its economic consequences.

What are the Requirements?

Below are the following document requirements in order for you to apply for the HEROES loan:

  1. One (1) government-issued identification card with a photo
  2. Loan Application Form that has been completed
  3. DTI Registration
  4. OWWA certification or confirmation of repatriation of an OFW
  5. AVP Business Plan
  6. Certificate of completion for an online training session for start-ups from PTTC.

Additional Requirements: Depending on the amount of loan, you may need to provide additional documents, including the following:

For Loans P10,000 to P50,000

  • DTI Registration
  • Video Business Pitch

For Loans P50,000 up to P100,000

  • DTI Registration
  • SEC Registration
  • Municipal/Mayor’s Business Permit
  • Video Business Pitch
OFW HEROES program logo
OFW HEROES program logo

How to Apply for HEROES Small Business Loan Program?

In case you want to apply for the HEROES program, please follow the following steps:

  1. Register for the HEROES application form by going to this link –
  2. Make sure to complete all the needed information for the registration.
  3. Complete the Philippine Trade and Training Center (PTTC) 3-day online training – The training program is FREE.
  4. Prepare the following requirements for your loan application once you’ve completed the training.
  • Video presentation (during the PTTC training, the applicant will be given instructions on how to produce the video)
  • Business Model Canvass
  • Scanned copy of passport
  1. To proceed with your loan application visit this link;

Sample Business Proposal

The following is a business proposal for how the HEROES loan would be used for:

  • Cost breakdown
  • Projected sales
  • Inventory requirements
  • Product design and development

Important Things to Know about OFW HEROES Application

It is important for you to be aware of the terms and conditions of this program. Here are some important guidelines:

  • The application procedure will begin with pre-registration for the Philippines Trade Training Center’s online training (PTTC)
  • The loan funds should be utilized solely for working capital to begin and maintain business activities.
  • The DTI reminds current and prospective CARES borrowers that repaying the loan on time and according to the amortization plan ensures that more micro and small businesses can continue to benefit from the program.
  • SB Corporation will take legal action if the loan is not paid, and a negative credit record will be created.

Frequently Asked Questions

Here are some Frequently Asked Questions and answers about this project:

1. What is the Small Business Corporation?

The Small Business Corporation is a financial institution run by the Philippine government. This was created back in January 1991 and the aim of this organization is to implement and provide assistance to Micro, Small & Medium Enterprises (MSMEs) in all areas.

2. What is the maximum amount of money I can borrow from HEROES Program?

HEROES Program offers minimum of P10,000 up to maximum of P100,000.

3. Can I still avail HEROES program even if I’m land-based OFW?

Yes, Land based and Non-professional OFWs who have returned to the Philippines due to layoffs caused by the COVID-19 pandemic and its economic consequences can apply in HEROS Program.

4. How many repayment terms are available for the loan?

The HEROES Program offers 36 months inclusive of a grace period.

5. When it comes to the grace period, how many months are included?

The grace period can last up to 12 months, or half of the loan repayment duration, whichever comes first.

6. Can I submit my application directly to the OWA/DTI Office?

No, You must register/apply to this link;

VIDEO: OFW HEROES Loan Program by Small Business Guarantee and Finance Corporation

Check out this video to learn more about the SBGFC HEROES Loan program:


Contact Information

The Small Business Guarantee and Finance Corporation (SBGFC)
Telephone Number: (632) 8 651-3333


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