STATE-run lender Small Business Corp. (SBCorp) will roll out financing for electric-vehicle (EV) charging infrastructure by early 2027, expanding its existing EV loan program.
SBCorp President and CEO Robert C. Bastillo said the financing would cover charging infrastructure for transport cooperatives and transport management companies, which typically need terminals and charging facilities alongside their EV fleets.
‘For now, it’s the transport cooperatives that are making sure that they have a terminal, and the transport management corporations,’ Bastillo said partly in Filipino on the sidelines of an event in Makati City last Monday.
Financing for EV parts, meanwhile, would generally be handled by suppliers, he added.
The BusinessMirror was told that SBCorp has financed more than P100-million worth of EV-related businesses. In addition, the primary lender for micro, small, and medium enterprises (MSMEs has allocated up to P200 million for EV-related financing in 2026 and is preparing the amount for release.
The financing push comes as the Department of Trade and Industry (DTI), SBCorp’s parent agency, seeks to widen access to funding for businesses transitioning to electric transport.
Complementing deal
TRADE Secretary Ma. Cristina A. Roque has said she sees her department’s agreement with Philippine Veterans Bank (PVB) as complementing SBCorp’s program by opening financing opportunities to larger companies and transport operators.
The DTI’s e-transport loan program through SBCorp provides MSMEs with a one-year grace period without principal and interest payments, Roque said.
The Trade Secretary told reporters that tricycle and ride-hailing drivers as among those covered by the program, as well as operators of government-supported electric buses.
The department is now looking to work with other financial institutions to accommodate businesses that fall outside SBCorp’s target borrowers, Roque said.
‘But they need a lot of funding, so it’s good for us to also work with other banks so that we can encourage or we can actually get more people to onboard the shift from the combustion vehicle to the electric vehicle,’ she added.
The DTI-PVB partnership signed last Monday focuses specifically on EV financing. Per the trade agency, the arrangement is intended to help operators cope with volatile gasoline and diesel prices while giving larger companies another financing option for fleet electrification.
Strong demand
BASTILLO said while demand for EV financing has been strong, some borrowers still encounter hurdles in meeting requirements.
The main requirement for transport operators is a ‘Certificate of Public Convenience,’ he said adding that delays can occur when franchises expire and operators have to go through the renewal process.
Some applicants also need assistance with the online application process, prompting SBCorp to provide in-person support at its offices, Bastillo said.
‘This is like a classic government-private sector collaboration,’ the SBCorp head said. ‘We’re not competitors of the private sector. We’re just supposed to provide the initial funding.’