PHILGUARANTEE’s Credit Guarantees Reach Php 252.4 Billion, Helping Over 464,000 Borrowers by June 2024

PHILGUARANTEE, the country’s principal agency for state guarantee finance, has reached a cumulative total credit guarantees amounting to Php 252.41 Billion providing financial support to more than 464,047 socialized and low cost housing loan borrowers, MSMEs, and small farmers and fisherfolk, as of June 2024. With a core mandate to facilitate access to credit, PHILGUARANTEE aims to drive economic growth and development across these priority areas.

Since its merger in 2019, PHILGUARANTEE has shown a remarkable increase in the volume of credit guarantees issued. The substantial 7% increase from the reported guaranteed amount as of December 2023, highlighted the organization’s growing impact on financial accessibility which also resulted in a significant 9% rise in the number of beneficiaries.

PHILGUARANTEE’s achievements illustrate its ongoing commitment to improving financial inclusion and supporting key economic sectors. As the organization grows and improves, together with its network of 175 Partner Lending Institutions (PLIs), it continues to play a key role in advancing progress and prosperity across the Philippines through the agency’s credit guarantee programs.

From: Strategy Management and Communications Department