DTI's SBCorp. Launches P500K Loan Facility for Young Filipino Entrepreneurs

Young Filipino entrepreneurs can now access loans of up to P500,000 to fuel their business ventures through the Youth Enterprise Fund (YEF) of the Small Business Corporation (SBCorp.), the financing arm of the Department of Trade and Industry (DTI). The YEF program allows entrepreneurs aged 18 to 30 to borrow between P30,000 and P500,000. The loans are payable over a maximum period of three years, with flexible grace period options including zero, three, six, nine, or 12 months. Interested applicants can submit their applications starting Monday, July 27, via the official SBCorp. application available on Google Play and Huawei AppGallery. Essential requirements include a valid government-issued ID, Mayor’s Business Permit, proof of bank account, corporation documents, and a comprehensive business plan detailing project implementation. "Through the Youth Enterprise Fund, we are removing financial barriers so our youth can turn their vision into thriving businesses that not only succeed, but also generate quality jobs and uplift their local communities," stated Trade Secretary Cristina Roque in an emailed statement. She added, "I encourage all aspiring young business owners to avail of this loan, and help us build a stronger, more inclusive Philippine economy." This initiative follows SBCorp.'s earlier partnership with the Philippine Chamber of Commerce and Industry (PCCI) in April, which established a P7-billion loan facility program for micro, small, and medium enterprises (MSMEs) impacted by rising fuel prices.