President Ferdinand R. Marcos Jr. on Monday directed concerned government agencies to ensure that the Turismo Asenso Loan Program is widely accessible, especially to micro, small, and medium enterprises (MSMEs) in far-flung areas.
The Turismo Asenso Loan Program is a collaborative effort of the Department of Tourism (DOT) and the Department of Trade and Industry (DTI), together with DTI’s financing arm, the Small Business Corp. (SBCorp.), to enhance MSMEs by providing capital support.
“Kaya naman, sa DOT, DTI, at SBCorp., tiyakin ninyong abot ang Turismo Asenso Loan Program at iba pang tulong sa buong panig ng bansa,” President Marcos said in his speech during the program’s awarding ceremony held at the Marriott Grand Ballroom in Pasay City.
During the event, nine tourism-related MSMEs from the National Capital Region (NCR) and Calabarzon (Region IV-A) were granted loan assistance ranging from PhP150,000 to PhP1 million.
These loan packages are expected to help beneficiaries boost their businesses and create more sustainable economic opportunities for local communities.
“Sa pamamagitan ng mga loan na ito, matutulungan natin ang ating mga MSMEs na sila’y mapalago ang inyong mga negosyo, mapahusay ang kalidad ng serbisyo upang maipakita ang tatak ng ating ipinagmamalaki na Filipino hospitality. Higit sa lahat, makapagbigay ng mas magandang kinabukasan para sa inyong pamilya at komunidad,” the President said.
President Marcos also ordered DOT and DTI to further expand program awareness, simplify the application process, and ensure that more Filipinos benefit from the program.
According to the DOT, eligible applicants can borrow up to PhP20 million at a competitive interest rate of 1 percent monthly on a diminishing balance basis.
Non-collateral loans are available up to PhP3 million for new borrowers and PhP5 million for existing ones. Flexible repayment terms up to five years are also available.
To qualify, businesses must be registered and at least 60 percent Filipino-owned.
Applicants must also have a track record of the business for at least one year; have an asset size (excluding lot) not exceeding PhP100 million; have no past due in any of the programs of SBCorp.; and have no major negative credit findings. | PND
