Turismo Asenso Loan Program: Low-Interest Financing for Tourism MSMEs
The Philippine government launches the Turismo Asenso loan program, offering tourism MSMEs up to ₱20 million in low-interest financing at just 1% monthly interest. This groundbreaking initiative by DOT, DTI, and SBCorp provides flexible repayment terms up to 5 years, with non-collateral options available. Filipino-owned tourism businesses can now access the capital needed to scale operations, hire more staff, and enhance services for tourists. With tourism contributing 8.9% to GDP and employing over 6.75 million Filipinos, this program represents a major step toward strengthening the country's tourism economy.