PHILGUARANTEE Highlights Growth in MSME Support Programs Through June 2024

PHILGUARANTEE has made significant progress in enhancing its support for Micro, Small, and Medium Enterprises (MSMEs) as of mid-2024. PHILGUARANTEE’s credit guarantee programs are designed to enhance credit availability from the banking sector while simultaneously providing Micro, Small, and Medium Enterprises (MSMEs) with essential working capital to stimulate their growth. The organization has increased its cumulative gross loan guarantees to Php 7.46 billion, marking a 22% growth since December 2023.

The expansion of these guarantees has resulted in a notable rise in the number of MSMEs benefiting from the program, reaching 43,326—an increase of 12% compared to the end of the previous year. The programs under Priority Sectors Guarantee Group aim to increase availability of credit from the banking sector and at the same time provide means to jumpstart the MSMEs with much needed working capital. This growth highlights the timely relevance of PHILGUARANTEE’s financial assistance in support of the MSME sector. Such intervention is essential in helping small businesses navigate financial challenges and capitalize on new opportunities, contributing to a more robust and resilient economic environment.

From: Strategy Management and Communications Department