The Department of Trade and Industry (DTI) has opened its P2-billion e-Transport Loan Program to transport network vehicle service (TNVS) drivers and operators shifting to electric vehicles (EVs), widening access to affordable green financing in the ride-hailing sector.
Administered by Small Business Corporation (SBCorp), the facility offers a grace period of up to one year, during which borrowers are not required to pay either principal or interest. After the moratorium, loans will be charged at a concessional rate of 1 percent per month on a diminishing balance.
Qualified applicants may borrow between P1.2 million and P3 million per unit, depending on the vehicle and business profile.
To be eligible, TNVS drivers and operators must hold valid and current authorization from the Land Transportation Franchising and Regulatory Board (LTFRB), such as a Certificate of Public Convenience (CPC), Provisional Authority (PA), or an equivalent permit for the unit being financed.
Applicants must also be registered as a sole proprietorship, partnership, or corporation with the DTI or the Securities and Exchange Commission, and have a valid local business permit where applicable.
Affiliation with transport network companies (TNCs) such as Grab Philippines, JoyRide Philippines, or inDrive is allowed, provided the borrower is the individual operator or a registered fleet entity—not the TNC itself.
Applicants must submit proof of active status and trip history from their TNC, which may also serve as supplementary income verification.
SBCorp will begin accepting applications on April 21.
