The Department of Trade and Industry (DTI), in a significant move to promote sustainable transportation, has announced a major financial initiative through the Small Business Corp. (SBCorp). A substantial allocation of P2 billion has been earmarked specifically to support small transport operators and drivers who hold valid business licenses and are eager to transition to electric vehicles (EVs). This funding aims to accelerate the adoption of eco-friendly transport solutions across the nation.
Loan Details and Application Process
In an official statement released on Friday, April 17, 2026, the DTI outlined the specifics of this loan program. Borrowers can access loans of up to P1.5 million per vehicle, with a maximum cap of P3 million per individual borrower. This structured approach ensures that operators can finance multiple vehicles if needed, facilitating a broader shift towards electric mobility.
Flexible Repayment Terms
The loan is designed with borrower convenience in mind, featuring a repayment period of five years. Additionally, it includes a grace period of up to one year on both principal and interest payments. This flexibility provides financial relief during the initial transition phase, allowing businesses to stabilize their operations without immediate repayment pressures.
How to Apply
Interested parties can begin the application process online starting April 21, 2026. The first step involves downloading the SBCorp Money app on mobile devices and selecting the E-Transport Loan icon. For those who prefer alternative methods, the DTI also encourages applicants to visit the SBCorp website at sbcorp.gov.ph or coordinate directly with DTI offices and Negosyo Centers located nationwide. This multi-channel approach ensures accessibility for all eligible borrowers, regardless of their location or technological proficiency.
This initiative underscores the government's commitment to fostering green technology and supporting small businesses in the evolving transport sector. By providing substantial financial backing, the DTI aims to reduce carbon emissions and modernize the country's transportation infrastructure, paving the way for a more sustainable future.
