The government recently relaxed the loan terms for tourism businesses to encourage more micro, small and medium enterprises to avail of the loan program.
In a statement, the Department of Tourism (DoT) said that under the relaxed terms of the Coronavirus disease 2019 (Covid-19) Assistance to Restart Enterprises (Cares) for Travel program, the grace period for repayment of loans to distressed tourism enterprises was extended to two years.
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