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SeaFarer's Loan
SeaFarer's Loan

A unique loan program for seafarers to help them meet their family’s needs. Take out loans anywhere from PhP20,000 to PhP300,000, depending on individual qualifications, and pay them back either by allotment deduction or assignment.

We know the risks you take so you can provide for your family. With Layag Seafarer’s Loan, you can be sure that your family’s financial needs are already taken care of.

loan amount
Loanable Amount

Php 20,000 to Php 500,000 (depends on capacity to pay)

loan terms
Loan Terms

3 to 11 months

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Payment Options

Allotment deduction

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eligibility
Eligibility

Company Accreditation:

Company / Agency must be in the business for more than 3 years
Positive Income for the last 3 years
With at least 20 regular employees
Within a serviceable area of Sterling Bank of Asia

Individual Application: 

Company should be accredited with Sterling Bank of Asia
Filipino Citizen
23 to 60 years old
With 1 time completed contract on-board
No adverse credit findings

Requirements
  • Company Accreditation Form
  • SEC Registration
  • Articles of Incorporation and By-Laws
  • Last 3 years Audited Financial Statements with ITR
  • Latest General Information Sheet
  • Company Profile
  • Completely Filled out and signed Application Form
  • Promissory Note/Disclosure Statement
  • Photocopy Overseas Employment Certificate (OEC)
  • Photocopy of Contract duly signed by POEA
  • Photocopy of Passport including filled out pages
  • Photocopy of Seaman’s Book including filled out pages
  • Signed Katibayan

*Complete requirements should be submitted to your company’s Crewing Manager or contact person

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