A new financing initiative, dubbed the Turismo Asenso Loan Program (TALP), aimed at supporting tourism-related businesses, has been launched by the Department of Trade and Industry (DTI) in partnership with the Department of Tourism (DOT), according to a DTI statement on Thursday, September 4.
The program is designed to provide micro, small, and medium enterprises (MSMEs) in the tourism sector with capital to expand their operations. The goal of the program is to stimulate job growth within tourism-linked industries across the country.
An initial P3.38 million in loans was disbursed to nine businesses in a recent ceremonial event led by Ferdinand R. Marcos Jr. The first batch of beneficiaries, approved by the DTI’s financing arm, the Small Business Corporation, includes wellness spas, resorts, and travel agencies from Rizal, Cavite, Laguna, and Metro Manila. The individual loan packages ranged from P150,000 to P1 million.
Established under a memorandum of agreement signed in April, TALP offers qualified MSMEs low-interest loans of up to P20 million. The loans feature repayment terms of up to five years with an interest rate of 1% per month, calculated on a diminishing balance.
Trade Secretary Cristina Roque said the inter-agency partnership reflects a coordinated government effort to support a key industry. “Tourism supports millions of jobs across hotels, transport, food, and local services. By helping our tourism MSMEs, we are not only sustaining businesses but also securing livelihoods,” she said.
The tourism sector is a significant contributor to the national economy, with total visitor expenditure reaching P3.86 trillion in 2024, accounting for 8.9 percent of the country’s Gross Domestic Product. The industry directly employed 6.75 million Filipinos and indirectly supported nearly 10 million more, according to the DTI.
The launch event also initiated a nationwide campaign to encourage more MSMEs to apply for the program.
Interested tourism entrepreneurs can submit applications through the DTI-SBCorp Money Mobile App at https://app.sbcorp.ph.
