LGUs can borrow 100% of the entire project cost needed under the Tourism Infrastructures and Services Mobilization (TOURISM) Lending Program, as long as it does not exceed their net borrowing capacity.
Small and medium enterprises (SMEs) and cooperatives can borrow up to 80% of the cost of their project, whereas major corporations can borrow up to 75%.
The Department of Trade and Industry (DTI) defines small businesses as those with total assets ranging from P500,001 to P5 million; medium businesses range from P5 million to P20 million; and big businesses exceed P20 million.
Primary tourism support facilities, infrastructure, and services such as hotels, resorts, automation, and digitization of tourism services are examples of qualified projects under the credit programme.
Tags: Phlippines, LandBank, tourism
