Loan Program for Tourism MSMEs

Manila, Philippines – The Department of Tourism (DOT) disclosed on Thursday (Sept. 17) some details of the loan program for tourism MSMEs that is being finalized with the Small Business Corporation (SB Corp) of the Department of Trade and Industry (DTI).

Under the Bayanihan to Recover As One Act (Bayanihan 2), the SB Corp was allocated funding for its COVID-19 Assistance to Restart Enterprises (CARES) and was thus directed to expand its loan programs including that for tourism and “to administer loans for DOT but subject to guidelines from the DOT.” Accordingly, the DOT in consultation with its tourism stakeholders has been in constant dialogue with the SB Corp to come up with the appropriate guidelines for the loan program for tourism MSMEs.

Zero interest loans, no collateral, easy terms for distressed tourism businesses photo by…

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