THE DEPARTMENT of Trade and Industry (DTI), through the Small Business Corporation (SBCorp), allocated P2 billion to finance small transport operators and drivers who hold business licenses and wish to transition to electric vehicles.
On April 17, DTI said borrowers can access loans of P1.5 million per vehicle, with a maximum limit of PHP3 million per borrower.
The loan is payable over five years and includes a grace period on both principal and interest for up to one year.
Interested borrowers may apply online starting April 21 by downloading the SBCorp Money app on their mobile phones and selecting the E-Transport Loan icon.
DTI also encouraged interested borrowers to visit the SBCorp website at sbcorp.gov.ph or coordinate with DTI offices and Negosyo Centers nationwide. (PNA)
