If you’re a tourism entrepreneur looking to scale up your business, this could be your moment. The Turismo Asenso multipurpose loan program is now open to Micro, Small, and Medium Enterprises (MSMEs) in the tourism sector, offering up to ₱20 million in financial support. The program is designed to empower tourism-based MSMEs to expand operations, improve service offerings, and strengthen their contribution to the national economy.
Launched through a partnership between the Department of Tourism (DOT) and the Department of Trade and Industry (DTI), the loan program—administered by Small Business Corporation (SBCorp)—provides low-interest financing to tourism MSMEs with flexible terms.
Tourism accounts for 8.9% of the Philippines’ GDP and employs over 6.75 million Filipinos, highlighting its significance as an economic driver. “The Turismo Asenso loan program is part of this vision—giving our tourism MSMEs the capital they need to expand, hire more people, and improve services,” said DOT Secretary Christina Garcia Frasco. She also expressed appreciation to DTI Secretary Cristina Roque and SBCorp for their partnership.
Loan Features
- Loan amount: Up to ₱20 million
- Interest rate: Only 1% per month on a diminishing balance basis
- For non-collateral loans:
- Up to ₱3 million for new borrowers
- Up to ₱5 million for existing borrowers
- Repayment period: Up to five years
Eligibility Requirements
To apply, your business must:
– Be Filipino-owned (at least 60% ownership)
– Be registered and operating for over one year
– Have an asset size not exceeding ₱100 million (excluding land)
– Have no past due accounts with SBCorp and no major negative credit findings
Applications may be submitted through SBCorp Borrower Registration System.
0 Comments