DTI’s Small Business Corporation launches e-vehicle loan program for transport operators, drivers

MANILA — The Department of Trade and Industry’s Small Business Corporation has launched the E-Transport Loan, a financing program designed to help public transport drivers and operators transition to electric vehicles, the agency announced.

Under the program, eligible borrowers may loan up to P1.5 million per vehicle, with a maximum borrowing limit of P3 million per borrower. Loans are payable for up to five years at an interest rate of 6.7 percent per annum, with a processing fee of 3 percent. Borrowers may choose a grace period of 0, 3, 6, 9, or 12 months.

To qualify, applicants must hold a valid and current Land Transportation Franchising and Regulatory Board authority, including a Certificate of Public Convenience, Provisional Authority, or an equivalent permit covering the unit to be financed. They must also be duly registered as a sole proprietor, partnership, or corporation with the appropriate government agencies such as the DTI or the Securities and Exchange Commission, and must hold a valid local business permit where applicable.

Drivers and operators affiliated with transport network companies such as Grab Philippines, JoyRide Philippines, or inDrive may also qualify, provided the loan is extended to the individual operator or registered fleet entity and not to the TNC itself. Applicants affiliated with TNCs must submit a certification or statement of account confirming active status and historical trip volume. TNCs are not eligible as borrowers under the program.

SB Corp. said the E-Transport Loan was intended to support small transport operators and drivers holding business licenses who wish to shift to cleaner, electric-powered vehicles, in line with the government’s broader push for sustainable public transportation.

Applications may be submitted through the SB Corp. mobile app, available on Google Play and Huawei AppGallery at https://app.sbcorp.ph. For inquiries, the public may contact SB Corp. at +632 5328-1100 to 10 or +632 5328-1112 to 16, or visit www.sbcorp.gov.ph.