The Department of Trade and Industry (DTI) is setting aside P1 billion to help young Filipinos turn business ideas into viable enterprises through a new financing program that removes one of the biggest barriers facing first-time entrepreneurs, access to capital.
The agency launched the Youth Enterprise Fund through its financing arm, the Small Business Corp. (SB Corp.), offering affordable loans tailored to aspiring business owners aged 18 to 30.
Trade Secretary Cristina Roque said the initiative is aimed at encouraging more young Filipinos to pursue entrepreneurship by providing startup financing with flexible repayment terms.
“This is our investment in the ideas, energy and future of Filipino youth,” Roque said during the program’s launch. “We often hear that you are never too young to dream big and never too early to begin. This loan is for you.”
Eligible applicants may borrow between P100,000 and P500,000 without collateral. The program also provides a one-year grace period on principal payments, while borrowers can repay their loans over as long as three years, giving new businesses more time to establish operations before making full repayments.
Roque said many successful companies began with young entrepreneurs who had innovative ideas but lacked financial resources. The government hopes the fund will help bridge that gap and encourage more startups that can generate jobs and contribute to economic growth.
Applications will open on July 27 through the SB Corp. mobile application and website. Applicants only need to register, submit a valid government-issued ID, a photo of their business and the required business permits. DTI said the streamlined process is intended to make financing more accessible to first-time entrepreneurs.
The Youth Enterprise Fund expands SB Corp.’s portfolio of financing programs for micro, small and medium enterprises, complementing existing facilities such as export financing of up to P30 million.
By widening access to affordable capital, DTI hopes to cultivate a new generation of Filipino entrepreneurs capable of transforming innovative ideas into sustainable businesses that create jobs and strengthen the country’s long-term economic growth.
