DTI-SBCorp allocates P2B for loans to support EV shift

The Department of Trade and Industry (DTI), through its attached Small Business Corporation (SBCorp), has allocated P2 billion to extend loans to small transport operators and drivers interested in transitioning to electric vehicles (EVs).

In a news release on Friday, the DTI said interested borrowers can avail of loans of up to P1.5 million per vehicle with a maximum limit of P3 million per borrower. 

The loan is payable over five years and includes a grace period on both principal and interest for up to one year.

“Interested borrowers may apply online starting Tuesday, April 21, 2026, by downloading the SBCorp Money app on their mobile phones and selecting the E-Transport Loan icon,” the DTI said.

“For more information, the public may visit the SBCorp website or coordinate with DTI offices and Negosyo Centers nationwide,” it added. —VAL, GMA News