Roque: DTI Launches E-Transport Loan to Support EV Transition
Why It Matters
The loan lowers financial barriers for micro‑transport operators, fast‑tracking EV adoption and supporting the Philippines’ climate and economic objectives.
Key Takeaways
- •DTI launches E-Transport loan for small transport operators.
- •Loan up to ₱3 million with one-year principal-free period.
- •Interest rate fixed at 6% per annum, lower than market.
- •Applications via SB Corp website or mobile app.
- •Targeted at drivers shifting from gasoline to electric vehicles.
Summary
The Department of Trade and Industry (DTI) announced the launch of an E‑Transport loan aimed at small transport operators and drivers who want to replace gasoline‑powered vehicles with electric models.
The financing package offers up to ₱3 million per borrower, with a one‑year grace period during which no principal repayments are required and an interest rate fixed at 6 % per annum—significantly lower than typical commercial rates. Applications can be submitted through the Small Business Corporation (SB Corp) portal at sbcorp.gov.ph or via the SB Corp Money mobile app.
In the briefing, DTI officials urged operators to “take advantage of this loan” and highlighted the loan’s flexibility, noting that the program is designed specifically for the transition to electric vehicles within the country’s transport ecosystem, from ride‑hailing services to manufacturers.
If widely adopted, the scheme could accelerate the Philippines’ EV rollout, lower operating costs for drivers, and contribute to national emissions‑reduction targets, while stimulating demand for local EV supply chains.
Comments
Want to join the conversation?
Loading comments...