September 2, 2025 | 12:00am
MANILA, Philippines — The Division of Commerce and Trade (DTI) is taking a look at establishing a mortgage facility to assist exporters dealing with challenges as a result of United States’ imposition of reciprocal tariffs.
Commerce Secretary Cristina Roque advised reporters on the sidelines of the ceremonial awarding of loans beneath the Turismo Asenso Mortgage Program (TALP) yesterday that the DTI is finding out the launch of a mortgage facility for exporters, together with large enterprises, affected by the US tariffs.
She stated the mortgage facility might be established beneath the DTI’s financing arm Small Enterprise (SB) Corp.
“It’s straightforward as a result of the management of the SB Corp. is actually with me as a result of I’m the chairman. So it’s straightforward for me to maneuver,” she stated.
Ought to the federal government set up the ability, she stated there ought to be as much as P3 billion price of funding out there for lending to exporters.
She stated the quantity, nonetheless, would depend upon the out there fund that may be supplied beneath the SB Corp.
The SB Corp. has remaining funds amounting to P1.5 billion beneath its finances for this yr.
Roque stated the ability might be made out there inside the yr, so long as there can be found funds.
“So, it’s not tough [to set up]. There’s no want for an govt order or approval from anybody else,” she stated.
The nation’s exporters have been calling for presidency assist to assist navigate adjustments in commerce insurance policies, together with the reciprocal tariff imposed by the US.
Since Aug. 7, sure Philippine exports getting into the US have been slapped with a 19 p.c tariff.
Overseas Consumers Affiliation of the Philippines chairman Robert Younger stated in a phone interview yesterday that companies want an emergency financing bundle.
“The emergency bundle ought to be made a actuality,” he stated, including the mortgage facility to assist tackle the affect of the US tariff ought to be made out there instantly.
He additionally stated the mortgage ought to be interest-free and payable in a single to 2 years to assist exporters.
The SB Corp. has a working fund amounting to P11.5 billion to assist its totally different lending packages.
Roque stated the DTI is hoping to safe funding amounting to P1 billion to P1.5 billion on high of the proposed P1.5 billion finances for SB Corp. beneath the Nationwide Expenditure Program for 2026.
The TALP, which is being administered by the SB Corp., was launched by the DTI and Division of Tourism to assist tourism micro, small and medium enterprises (MSMEs) broaden their operations and generate extra jobs throughout tourism-linked industries nationwide.
Via the TALP, the federal government is offering low-interest loans price as much as P20 million to tourism MSMEs.
The loans have compensation phrases of as much as 5 years and an rate of interest of 1 p.c per 30 days on a diminishing stability.
Beneath the TALP, the federal government has up to now awarded P3.38 million in loans to 9 tourism-related MSMEs.
“Tourism helps tens of millions of jobs throughout inns, transport, meals and native companies. By serving to our tourism MSMEs, we aren’t solely sustaining companies but additionally securing livelihoods for numerous Filipinos whose earnings depends upon this sector,” Roque stated.
