The Department of Trade and Industry (DTI) and the Small Business Corp. (SBCorp) will roll out a P2-billion financing program on April 21 to support drivers and licensed small transport operators who are interested in shifting to electric vehicles.
Aimed at mitigating the impact of high fuel prices, the E-Transport Loan offers up to P1.5 million per vehicle and a maximum limit of P3 million per borrower. The loans are payable over five years, with a one-year grace period on both principal and interest.
To ensure rapid deployment, the government bypassed traditional bank queues, making the application process available digitally.
"We make it easy for them because our president wants to make sure that we really give financing, especially to the small and medium enterprises," DTI Secretary Cristina Roque said in a recent broadcast interview with DZRH.
Roque outlined the following requirements and steps for prospective borrowers:
Download the SBCorp Money app on a mobile device and select the E-Transport Loan option to start the application.
Submit a valid business name registration.
Provide a valid bank account or bank statement for secure fund disbursement.
Show proof of government compliance, ensuring the transport business is legally operating.
Upload photos of the business or specific e-transport requirements.
Applicants needing step-by-step assistance can visit the SBCorp website at sbcorp.gov.ph, call the SBCorp nationwide hotline 1-800-10-651-3333, or visit DTI regional offices and Negosyo Centers for direct guidance.
As additional assistance during the current geopolitical crisis, the DTI also highlighted the Enterprise Rehabilitation Fund and the recently launched P4-billion Micro, Small, and Medium Enterprises (MSME) Business Fund, which provide targeted, collateral-free credit lines for micro-retailers like sari-sari stores.
Roque emphasized that the Marcos administration deployed these highly subsidized loans to assist vulnerable Filipinos.
"We take a whole-of-government approach to make sure that we get things done," Roque said, adding that the state hopes to encourage financial responsibility, help drivers scale their operations, and ensure a resilient, formalized grassroots economy.