The Department of Trade and Industry (DTI) and the Philippine Veterans Bank (PVB) signed a memorandum of understanding on Monday to expand financing for micro, small and medium enterprises (MSMEs) and for businesses buying electric vehicles (EVs).
Under the agreement, the DTI and the Small Business Corp. (SB Corp.) will refer qualified enterprises to the bank for financing suited to their operations. Trade Secretary Ma. Cristina Roque said the financing would cover operators ranging from small tricycle and ride-hailing businesses to larger transport companies. She said the DTI and PVB are working to launch the loan program as soon as possible.
The partnership supports the DTI’s E-Transport Loan Program, which the department runs through SB Corp. Qualified borrowers under that program may receive a one-year grace period on principal and interest payments. Roque said the program requires substantial funding and that SB Corp.’s mandate limits its lending to MSMEs. Partnerships with banks would let the DTI serve larger businesses, encourage more operators to adopt EVs, and keep borrowing costs as low as possible, she said.
“Through Philippine Veterans Bank, we can explore financing for bigger companies and encourage their operators to shift from combustion-engine vehicles to electric vehicles,” Roque said.
She said transport and business operators need more financing options to protect their livelihoods from rising global oil prices. The government is also accelerating the shift because of higher fuel costs linked to the continuing Middle East crisis, she said, adding that the move is part of longer-term preparations for the future of transport. Roque said EVs could reduce operators’ fuel expenses and benefit the environment.
Existing loan terms
The E-Transport Loan Program was launched in April 2026 with a ₱2-billion allocation. Licensed small operators and drivers can borrow up to ₱1.5 million per vehicle, with a cap of ₱3 million per borrower. Repayment runs up to five years, with a grace period of up to one year, according to the DTI’s announcements at the launch.
Earlier this year, the DTI said interest in the program was close to exhausting the ₱2-billion allocation and that it was open to replenishing the fund. It also said it was developing agreements with the Philippine Guarantee Corp., the Social Security System and the Pag-IBIG Fund to help transport operators obtain bank financing for EV purchases.
Online portal for MSMEs
Roque spoke at the launch of the Negosyo Center Online Portal 2.0 (NCOP 2.0), which the DTI rolled out nationwide on Monday. The portal consolidates Negosyo Center services on a digital platform. MSMEs, including those in remote areas, can use it for business registration, advisory and learning resources, and free one-on-one virtual business coaching without visiting a physical Negosyo Center.
Roque said the platform is important given the country’s geography and the DTI’s network of 18 regional offices and nearly 1,400 Negosyo Centers.
“We are 7,600 islands, and sometimes we cannot reach the far-flung regions unless we use the digital space or the digital platform,” she said.
The DTI also said it is seeking more financing support for businesses that use digital platforms to reach e-commerce markets. The reports on the signing did not state loan amounts, interest rates or a launch date for the PVB financing.
