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.
This story is from the June 03, 2020 edition of Manila Bulletin.
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This story is from the June 03, 2020 edition of Manila Bulletin.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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