The Department of Trade and Industry’s (DTI) Small Business Corporation (SBCorp) has awarded PHP15 million in loans to the first batch of transport cooperatives and operators under the E-Transport Loan Program, helping them transition to electric vehicles (EVs) amid rising fuel costs.
The initial beneficiaries are:
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Arca Guadalupe Market!-Market! Transport Cooperative;
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Pm Jeepney Drivers & Operators Services Inc.;
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Daanghari Modern Jeepney Transport Cooperative;
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AFP-PNP Housing Taguig Guadalupe Transport Cooperative; and
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Zapote, Imus, Dasma, GMA, Palapala, Paliparan Transport Cooperative.
Launched in April this year, the program set aside P2 billion to provide accessible financing for small transport operators and drivers shifting to electric vehicles, lowering long-term operating costs while supporting a cleaner and more energy-secure transport sector.
“With this program, we are giving our small transport operators and drivers an avenue to transition to EVs to ensure a more stable income for their families and reduce pollution for our communities. The Marcos Jr. administration is here to help make that transition possible by providing accessible and affordable financing options,” DTI Secretary Cristina A. Roque said.
Eligible borrowers include public utility vehicle operators and drivers, including TNVS drivers and operators with an LTFRB Certificate of Public Convenience or Provisional Authority, duly registered with the DTI or the Securities and Exchange Commission, and with active status in transport network companies.
Interested operators and drivers may apply directly through the SBCorp Money app by selecting the E-Transport Loan icon. For more information, the public may visit the SBCorp website at sbcorp.gov.ph or coordinate with DTI offices and Negosyo Centers Nationwide.
