Guarantee Agency Provides Credit Relief

Manila Bulletin|June 03, 2020

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Guarantee Agency Provides Credit Relief
State-run Philippine Guarantee Corp. (PHILGUAR-ANTEE) has extended its financial assistance to small businesses as well as clients in the agriculture and housing sectors devastated by the coronavirus pandemic.
Chino S. Leyco

In a statement released by the Department of Finance (DOF), it said that PHILGUARANTEE implemented moratoriums on loan payments and credit guarantees, plus other relief and support measures amid the coronavirus diseases (COVID-19) crisis.

DOF said that one of the assistance measures implemented by the agency is a credit guarantee program for the ₱120-billion working capital loans accessed by micro, small and medium enterprises (MSMEs).

According to the DOF, this program will jumpstart at least 12,000 small businesses affected by the COVID-19 pandemic that availed of working capital loans from accredited banks and financial institutions.

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June 03, 2020