Government e-wallets to launch P500 million MSME loan program

MANILA, Philippines — The Department of Trade and Industry (DTI) is teaming up with state-run Development Bank of the Philippines and mobile wallet players GCash and Maya for a P500 million lending program for micro enterprises, particularly sari-sari stores and market vendors.

Trade Secretary Cristina Roque told reporters on the sidelines of the Asia SME Forum 2025 yesterday that a memorandum of understanding is being finalized and is expected to be signed for the program “within the month or maybe first week of April.”

An initial amount of P500 million is being allocated for the program, which will be piloted in Cebu, given its huge number of sari-sari stores.

The plan is to eventually make the initiative available to Metro Manila and the rest of the country.

Roque said the initiative is part of efforts to have a dedicated program to help micro enterprises.

“We’ve been going to the markets and we’ve really checked what the needs of these people are and their most important need is financing,” she said.

Under the program, loans will be made using mobile wallets GCash and Maya to provide the micro enterprises quicker access to financing.

She said the initiative is in line with President Marcos’ push for digitalization.

In addition, she said the initiative would make it easier for micro enterprises like sari-sari store owners and market vendors to borrow funds.

“We want it to be easy for them. We also want to provide different avenues for these MSMEs (micro, small and medium enterprises) to make sure (they can choose) which one is easier for them,” she said.

She said the DTI is also set to hold a trade show focused on financial institutions that can lend to MSMEs.

“I think this is around July, August…So all the companies can now go there and choose which financing (option) is best for them,” she said.