17 Tourism Stakeholders in Region 2 Get 11 Million under CARES for Travel Program
The Department of Tourism Region 2 has announced that a total of 17 applications with a total loan amount of Php 11,155,198.00 under CARES for TRAVEL Program of Bayanihan 2 has been approved.
The CARES for TRAVEL is a loan program under Bayanihan 2 in cooperation with Small Business Corporation (SBCorp) of the Department of Trade and Industry (DTI). It offers loans with zero interest, zero collaterals, two years grace period and payable up to four years.
The program specifically targets tourism enterprises that cannot afford to settle their financial obligations in the operation of their businesses during this time of pandemic.
The Department of Tourism encourages owners of all DOT Accredited Tourism Enterprises to avail of the CARES for TRAVEL program, particularly micro, small and medium enterprises of the tourism industry.
Under Bayanihan 2, the government alloted Php 6 billion for this program. This will consequently contribute in accelerating the recovery and development of the country’s tourism industry.