The Philippine Guarantee Corp. (PhilGuarantee) has increased the amount of loans it guaranteed for micro, small and medium enterprises (MSMEs) as of end-February this year by 360 percent to P952.5 million, from just P207 million as of December 2020.
IN THE NEWS
PhilGuarantee Partners Anew with PNB, RCBC and BDO for Homelending
The Philippine Guarantee Corporation (PhilGuarantee), the sole credit guarantee institution of the Republic of the Philippines, has approved an additional PhP 35.0 Billion worth of housing guarantee facilities to leading banks BDO Unibank, Inc., Philippine National Bank (PNB) and Rizal Commercial Banking Corporation (RCBC).
PHILGUARANTEE Inks Agreement with Six Banks to Guarantee MSME Loans
State-owned Philippine Guarantee Corporation (PHILGUARANTEE) has signed separate agreements with six banks providing MSME loans. A total of P10.2 Billion of these loans to MSMEs will provide cushion to small businesses affected by the COVID-19 pandemic.
PHILGUARANTEE extends P5.5 Billion in credit guarantees to 35 Partner Lending Institutions, Supports more than 31,000 Agri-based Workers
As part of its mandate to support agriculture and promote socioeconomic development in the sector, the Philippine Guarantee Corporation (PhilGuarantee) is able to grant P5.53 billion worth of guarantee lines to its 35 partner lending institutions (PLIs) for the first quarter of the year.
PHILGUARANTEE Approves Php 37 Billion MSME Credit Guarantee for 22 Accredited Banks
State-owned Philippine Guarantee Corporation (PHILGUARANTEE) has approved a total of PhP37.5 Billion in credit guarantee facilities for 22 accredited banks, as of June 30, 2020. This is in line with the Agency’s key assistance role of encouraging the banking sector to continue lending to the Micro, Small and Medium Enterprise (MSME) sector under the government’s economic recovery program due to the COVID-19 pandemic.
