DTI opens PHP 2 billion e-transport loan

The Department of Trade and Industry, through the Small Business Corp., has earmarked PHP 2 billion to help small transport operators and drivers with business licenses shift to electric vehicles, according to a DTI press release issued April 17.

Under the program, qualified borrowers may obtain loans of up to PHP 1.5 million per vehicle, with a borrowing cap of PHP 3 million per applicant.

The financing will be payable over five years and carries a grace period of up to one year on both principal and interest, the release said.

Applications will open online on Tuesday, April 21, 2026, through the SBCorp Money mobile app, where applicants must choose the E-Transport Loan icon.

DTI said the public may get more information through SBCorp’s website or by coordinating with DTI offices and Negosyo Centers nationwide.

The loan rollout comes as the Philippines continues to implement Republic Act No. 11697, or the Electric Vehicle Industry Development Act, a 2022 law meant to promote the wider use of electric vehicles and reduce reliance on fossil fuels in transport.

The program also aligns with SBCorp’s broader mandate to expand financing access for micro, small, and medium enterprises under DTI supervision, including direct lending programs for underserved borrowers.