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Tuesday, September 2, 2025

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‘Turismo Asenso’ Loans to finance MSMEs, create jobs

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The government has launched the Turismo Asenso Loan Program (TALP), a financing initiative designed to help tourism-related micro, small, and medium enterprises (MSMEs) expand operations, create jobs, and strengthen the industry’s role as a major driver of the Philippine economy.

President Ferdinand R. Marcos Jr. led the ceremonial awarding of loans on September 1, releasing ₱3.38 million in financing to the first nine MSME beneficiaries, which include wellness spas, resorts, and travel and tour agencies in Rizal, Cavite, Laguna, and Metro Manila. Loan packages ranged from ₱150,000 to ₱1 million.

Under TALP, qualified MSMEs may borrow up to ₱20 million, payable over five years, with a low interest rate of 1% per month on a diminishing balance. The program was developed under a memorandum of agreement signed in April 2025 and is administered by the Small Business Corporation (SBCorp).

“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 for countless Filipinos whose income depends on this sector,” said Trade Secretary Cristina A. Roque.

In 2024, visitor expenditures reached ₱3.86 trillion, or 8.9% of GDP, directly employing 6.75 million Filipinos and indirectly supporting nearly 10 million more.

The nationwide rollout of TALP aims to encourage more MSMEs to recover, innovate, and expand. Tourism entrepreneurs are encouraged to apply through the DTI-SBCorp Money Mobile App (https://app.sbcorp.ph).

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