DTI launches ₱500M e-wallet loan for micro-enterprises

The Department of Trade and Industry (DTI) plans to launch a loan program for micro-entrepreneurs through e-wallet platforms like GCash and Maya, aiming to support small businesses such as sari-sari stores and wet markets.

During an interview at the Asia SME Forum on Thursday, March 27, DTI Secretary Cristina Roque highlighted that financing is the biggest challenge for these micro-enterprises, emphasizing the need for easier access to loan products.

The new initiative will be accessible via digital platforms, offering a streamlined process compared to traditional lending methods and an initial funding of ₱500 million from the Development Bank of the Philippines (DBP).

Roque said the memorandum of understanding (MOU) for the program would be signed within the month or by early April.

The loan program will first be piloted in Cebu City before expanding to Manila, allowing micro-entrepreneurs nationwide to access funds once the MOU is signed.

DTI aims to empower Filipino entrepreneurs and ensure no business, regardless of its size, is left behind.