State-run Philippine Guarantee Corp. (PhilGuarantee) has opened P42.3 billion in credit guarantee facilities to support micro, small and medium enterprises (MSMEs) struggling due to the coronavirus pandemic, the Department of Finance (DOF) said yesterday.

More than P42 billion in credit guarantee facilities for pandemic-hit small businesses have been made available by state-run Philippine Guarantee Corp. (PhilGuarantee), according to the Department of Finance (DoF).

Loans of small businesses struggling amid the COVID-19 pandemic can now be covered by a P42.3-billion guarantee line, according to the Department of Finance (DOF).

The country’s micro, small and medium enterprises (MSME) will soon receive further financial support from the government following the disclosure of the Philippine Guarantee Corp. (PhilGuarantee) of some P42.3 billion funds for its credit guarantee facilities.

STATE-RUN Philippine Guarantee Corp. (Philguarantee) approved P42.3 billion worth of credit guarantee facilities to cover loans taken out by micro, small and medium enterprises (MSMEs) from banks, easing their access to credit during the economic crisis.