Marcos: Turismo Asenso loan program must be simple, accessible to public

President Ferdinand ''Bongbong'' Marcos Jr. on Monday called on concerned government agencies to ensure that the process of Turismo Asenso Loan Program is simplified for the public.

''Layunin ng mga ito na gawing simple, abot-kaya, at epektibo ang paghahatid ng serbisyo at pagbebenta ng produkto. Kaya naman, sa DOT, DTI, at SB Corp., tiyakin ninyong abot ang Turismo Asenso Loan Program at iba pang tulong sa buong panig ng bansa,'' Marcos said in his speech during the Turismo Asenso Loan Program awarding ceremony.

(This aims to make the process of service delivery simple and effective for the public. I call on the Department of Tourism, the Department of Trade and Industry, and the Small Business Corporation to ensure that the Turismo Asenso Loan Program is accessible.)

''Palawakin pa ang impormasyon ukol dito, gawing simple ang proseso, at tiyakin na maraming MSMEs ang makikinabang, lalo na ang mga nasa malalayong lugar,'' he added.

(Widen the information, make the process simple, and ensure that a lot of MSMEs will benefit from this, especially those in far-flung areas.)

Implemented by the Department of Tourism and the Department of Trade and Industry, the loan program offers low-interest credit to help MSMEs expand operations, upgrade services, and sustain jobs in the post-pandemic tourism recovery.

The event awarded nine beneficiaries from the tourism sector who qualified for loan assistance evaluated and approved by the Small Business Corporation (SCorp), with approved amounts ranging from P150,000.00 to P1,000,000.00.

The initiative was formalized under a Memorandum of Agreement signed by DOT and DTI on April 7, 2025, which was part of the administration's whole-of-government strategy to strengthen tourism and trade.

Tourism Secretary Christina Frasco said that by empowering MSMEs, “we are fostering economic stability, generating sustainable employment opportunities, and strengthening the fabric of our communities. When tourism and trade flourish, so do the livelihood of our fellow Filipinos, creating a ripple effect of prosperity and growth that will be felt across the nation.”

Those who can apply for loans include Filipino-owned businesses, or partnerships/ and corporations with at least 60% Filipino ownership, enterprises with assets not exceeding P100 million (exclusive of land value), businesses with a track record of at least one year, and borrowers with no past due accounts under any SBCorp. program and no major negative credit findings.

The DOT also provided the following details for sub-loan programs:

1. For Micro Multi-Purpose

• At least one year of business track record
• Loan amount: Up to P300,000

2. For First Timers

• First-time SBCorp borrowers
• At least two years of business track record
• Loan amount: More than P300,000

3. For Suki

• Existing SBCorp borrowers with at least six months of repayment history
• Must have no past due accounts in any SCorp loan program
• The general loan features are as follows:

Loan Amount

• Up to P20.0 million

Loan Term

• Loans up to P300,000 → Payable monthly up to 3 years
• Loans above P300,000 → Payable monthly up to 5 years

Interest Rate

• 1% per month based on diminishing balance

Collateral

• Required for loan amounts exceeding: P3.0 million for new borrowers and ??P5.0 million for existing borrowers

Co-Borrower

• Required if borrower is 60 years old and above and the co-borrower must be at most 55 years old

Meanwhile, the basic documentary requirements include the following: Government-issued ID of the applicant (or authorized representative), Business Permit (Mayor's Permit or BMBE Certificate or Barangay Certification), Bank Account Details (must be under the name of the applicant, partnership, corporation) and two pictures showing any of the following: business signage, inventories, and business assets.

In another event in Baler, Aurora, Marcos handed over financial aid, training certificates, and other assistance to tourism workers affected by successive typhoons in the province last year.

In Aurora, a total of 1,197 tourism workers affected by Typhoon "Nika" and Super Typhoons "Ofel" and "Pepito" in November 2024 received unconditional financial support extended by the Department of Social Welfare and Development (DSWD), in collaboration with the DOT. 

The partnership aims to support families in the tourism sector that have been affected by disasters.

The DSWD will conduct simultaneous payouts from September 2 to 5 in other municipalities in Aurora. — BM, GMA Integrated News