Knowledgebase

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What are the requirements for sea-based ofw loan?

Sea-based OFWs whether on board or on vacation can avail of a One Day Process Loan. However, quick loan processing will depend on you as the borrower for preparing the necessary requirements. Here are common requirements you need to submit to proceed to the next step.

  • At least 2 Government-issued Ids
  • Marriage Contract (if married)
  • POEA validated contract
  • Passport
  • SRC & Seaman’s Book
  • Latest Embarkation & Disembarkation stamp (Old timer Seabased)
  • Overseas Employment Certificate (case to case)
  • Proof of residency (Any document/ID’s with current address)
  • Original Electric bill/Water bill (Latest)
  • Required Co-borrower

    Since most borrowers are onboard overseas, lending companies require a co-borrower or personal guarantee for continuous repayment. Qualified co-borrowers are the spouse or direct relations if not married, such as the parent(s) or sibling(s). They must submit 2 valid IDs. Additional document/s may be required on evaluation on principal borrower’s requirement.

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