Seafarers and their families now have a new business opportunity through a partnership between Seafam International (Seafam) and Global SME Loans Inc. (Global SME). This collaboration aims to provide soft loans to Filipino maritime professionals, with Global SME offering financial products to over 50,000 overseas Filipino workers, as stated by Seafam president Arianne Blanche Rocha.
Rocha emphasized that many seafarers, despite their earning potential, often face financial challenges and may fall victim to predatory lending practices. “Too many seafarers reach the age limit with their dreams unfulfilled,” she noted during the contract signing at the Linden Suites in Pasig City. The partnership seeks to offer a viable alternative to such exploitative practices.
Global SME’s “Seaman’s Loan” is tailored for sea-based overseas Filipino workers currently in the country, featuring a competitive interest rate of 2.5% and loan amounts up to 200% of their salary and overtime. Rocha highlighted that this initiative not only provides financial security but also empowers retiring seafarers through the EntrepPinoy Capital program, which includes training from Seafam. Together, they aim to help seafarers thrive after their maritime careers.
