The Department of Trade and Industry (DTI), through its financing arm Small Business Corporation (SBCorp), is launching a ₱2-billion loan facility aimed at helping small transport operators and drivers transition to electric vehicles.
Under the program, eligible borrowers with business licenses may access up to ₱1.5 million per vehicle, subject to a maximum loan cap of ₱3 million per borrower.
The loans are payable over five years and come with a grace period of up to one year on both principal and interest.
DTI said the initiative is designed to support the shift to cleaner transport options while easing the financial burden on small operators and drivers.
The move comes as the government continues to cushion the transport sector from volatile fuel prices through subsidies.
The Department of Budget and Management (DBM) earlier released ₱3 billion for fuel subsidy and discount programs benefiting public utility vehicle (PUV) drivers, ride-hailing and delivery service operators, as well as farmers and fisherfolk who rely heavily on fuel for their livelihood.
Under the fuel subsidy program, qualified beneficiaries receive direct financial assistance to offset the impact of rising fuel costs, which have been driven by global supply uncertainties and geopolitical tensions.
While the subsidies provide short-term relief, they are also seen as a stopgap measure amid persistently high and unpredictable fuel prices.
The DTI loan program seeks to address this longer-term challenge by encouraging a shift to electric vehicles, which have lower operating and maintenance costs and are less exposed to fuel price fluctuations.
Electric transport is also being pushed as part of the government’s broader efforts to reduce carbon emissions and modernize the public transport sector.
Applications for the e-transport loan program will open on April 21, 2026, and will be processed online through the SBCorp Money app, where applicants can select the E-Transport Loan option.
Additional details are available through SBCorp’s official website and DTI offices and Negosyo Centers nationwide.
