MICRO, small and medium enterprises (MSMEs) in the tourism sector can now access loans of up to P20 million through the Turismo Asenso multipurpose loan program of the Small Business Corp. (SBCorp) to help scale up operations and improve service quality for tourists.
Launched in April 2025 following the signing of a memorandum of agreement between the Department of Tourism and the Department of Trade and Industry, the program seeks to provide low-interest, accessible financing to support the continued recovery and growth of the tourism sector.
In a Facebook post, Tourism Secretary Christina Frasco said that the agency’s approach has always been to grow tourism as a powerful economic driver, given the sector’s contribution of 8.9 percent to the country’s gross domestic product, providing jobs to over 6.75 million Filipinos.
“The Turismo Asenso loan program is part of this vision, giving our tourism MSMEs the capital they need to expand, hire more people and improve services,” she said.
Qualified borrowers may access loans with a one percent monthly interest rate on a diminishing balance basis. New applicants may borrow up to P3 million without collateral, while existing borrowers may qualify for up to P5 million in non-collateral loans. Higher loan amounts, up to the P20 million ceiling, may be available to those who can present collateral, with repayment terms of up to five years.
To qualify, applicants must be a Filipino-owned business or have at least 60 percent Filipino ownership; a registered business operating for at least one year; have total assets not exceeding P100 million (excluding land); and have no past-due accounts with SBCorp. or major negative credit findings.
The loan program is part of the government’s broader effort to support the tourism sector, particularly MSMEs that play a key role in driving domestic and international visitor experiences. / KOC