The Department of Trade and Industry (DTI) is seeking additional funding of up to ₱5 billion for Small Business (SB) Corp. to support its loan programs for micro, small, and medium enterprises (MSMEs), including young entrepreneurs.
Trade Secretary Cristina Roque said the DTI is seeking a higher budget for SB Corp. in 2027 to expand its support programs for MSMEs.
She said the target is to increase SB Corp.’s budget to nearly ₱18 billion next year, up by ₱5 billion, or 39 percent, from this year’s allocation of around ₱12.9 billion.
“[This] year we consumed almost everything. So next year, I think we should be getting more,” Roque said on the sidelines of the National Exporters’ Fair on Wednesday, July 22.
SB Corp.’s latest loan facility is the ₱1-billion Youth Enterprise Fund, which aims to provide emerging entrepreneurs with the capital needed to transform their business ideas into reality.
“We want the youth, as young as they are, to get into business,” Roque said. “This is our investment in the ideas, energy, and future of Filipino youth.”
Young entrepreneurs aged 18 to 30 years old may borrow between ₱30,000 and ₱500,000 from the fund.
No collateral will be required for these loans, which are payable for up to three years. Further, no principal or interest payments will be required during the first year.
SB Corp. will begin accepting applications for the loan facility on Monday, July 27, through its mobile application.
Documentary requirements include government-issued IDs, a mayor’s permit, proof of a bank account, corporate documents (if applicable), and a business plan.
SB Corp. most recently launched the ₱4-billion MSME Fund to help entrepreneurs cope with the impact of the ongoing Middle East crisis, offering loans of up to ₱5 million.
In line with this, SB Corp. also rolled out the ₱2-billion E-Transport Loan to support transport operators in shifting to electric vehicles (EVs) in response to rising fuel costs.
Earlier this year, SB Corp. also started accepting applications for loan programs for exporters, overseas Filipino workers (OFWs), and women.