Licensed transport operators and drivers will soon be able to access financing of up to P3 million per unit as they transition from traditional vehicles to electric alternatives, Trade Secretary and Small Business Corp. (SBCorp) Chair Cristina Roque said Friday.
In a statement, Roque said SBCorp—the lending arm of the Department of Trade and Industry—is set to launch its P2-billion E-Transport Loan program on April 21. The facility is intended to support transport sector players seeking to shift to electric vehicles but constrained by high upfront costs.
Eligible borrowers may secure loans ranging from P1.5 million to P3 million per unit, provided they are engaged in the transport business and hold the required licenses.
The loans come with repayment terms of up to five years, including a grace period of as long as one year on both principal and interest. During this initial period, borrowers will not be required to make payments, helping ease the financial burden of upgrading to electric units.
Roque said the program aims to make the transition to cleaner transport more accessible, particularly for small operators and drivers who are often most affected by the costs associated with modernization.
Applications will open on April 21, 2026. Interested applicants may apply online by downloading the SBCorp Money app on their mobile devices and selecting the E-Transport Loan option.
