The Department of Trade and Industry (DTI) is exploring the launch of a loan program to mitigate the impact of reciprocal tariffs imposed by the United States (US) on domestic exporters.

DTI Secretary Cristina Roque said her agency is gearing up to study a loan program for exporters, ranging from micro, small, and medium enterprises (MSMEs) to big corporations.

“That would be easy because the control of SB (Small Business) Corp. is with me, since I’m the chairman. So it’s easy for me to maneuver,” Roque told reporters.

She said that this program, which will be under the DTI’s financing arm, SB Corp., could be earmarked with as much as ₱3 billion if the government proceeds.

The official added this could launch as early as this year, depending on the remaining funding of SB Corp. this year.

The state-run firm’s remaining budget for this year is approximately ₱1.5 billion, which is a fraction of this year’s lending budget of around ₱10 billion.

Roque said the government is proposing to expand the lending budget to approximately ₱11.5 billion, although she noted that the DTI is requesting an additional ₱1.5 billion to support its loan facilities.

SB Corp.’s lending programs include business expansion, purchase order, franchising loan, wholesome loan, enterprise rehabilitation, and women’s enterprise fund.

The potential program for exporters will not only serve as the government’s most firm effort to provide assistance to exporters—it could also be the solution exporter groups have clamored for.

Last month, Philippine Exporters Confederation Inc. (Philexport) President Sergio Ortiz-Luis Jr. said the industry is targeting $110 billion in exports for the country this year.

This estimate falls below the government’s target of $113.42 billion under the Philippine Development Plan and $163.6 billion under the Philippine Export Development Plan.

Despite downgrading its outlook, Ortiz-Luis noted that achieving this target could still be challenging, given uncertainties surrounding the US, the country’s top export market.

US President Donald Trump officially imposed a 19-percent tariff rate on Philippine goods entering America in August, following months of threats and speculation.

Ortiz-Luis asserted that the export industry, which will directly face the brunt of the tariffs, receives limited government support.

The business leader also noted that other countries in Southeast Asia have policies that support the export sector.

Separately, the DTI launched on Monday, Sept. 1, the Turismo Asenso Loan Program (TALP), a financing program aimed at helping MSMEs in the tourism sector to expand their operations.

Jointly developed with the Department of Tourism (DOT), TALP offers loans of up to ₱20 million, with repayment terms of up to five years and an interest rate of 1% per month on a diminishing balance.

Implemented under SB Corp., the program looks to strengthen the tourism industry, which directly employs 6.75 million and indirectly supports nearly 10 million more.

Based on government data, total expenditure from international and domestic visitors reached ₱3.86 trillion, equivalent to 8.9 percent of the country’s gross domestic product (GDP).