PHILGUARANTEE and Yulon Finance Philippines Corporation sign the agreement to support lending to Micro, Small and Medium Enterprises (MSME)

State-owned Philippine Guarantee Corporation (PHILGUARANTEE) and Yulon Finance Philippines Corporation (YFPC) to establish Micro, Small and Medium Enterprises Credit Guarantee Facility (MCGF) to the client.

Yulon Finance Philippines Corporation (YFPC) is a subsidiary of Taiwan-based company Yulon Finance Corporation. The leasing and finance company mostly caters to businesses that need long-term financing on commercial vehicles, medical equipment, and other industrial machineries.

The delegation from YFPC consisted of Ms. Blanca Chan – President and CEO, Mr. Gavin Chen, Corporate Leasing & Finance Division Head, and Ms. Corrine Chiou – Credit Division Head.

Representing PHILGUARANTEE was President and CEO Alberto Pascual, SVP Celso Guitierrez and VP Raymund Togonon of the Priority Sectors Guarantee Group, SVP Teresito Cayo Butardo of the Housing Guarantee Group, and SVP Emmanuel Torres of the Agriculture Guarantee Group.

YFPC President Chan praised the new partnership between PHILGUARANTEE and YFPC, calling it a good opportunity to extend the reach of its catered businesses, specifically those involving healthcare sector which has seen a rise in demand.

The agreement between the two parties underscored PHILGUARANTEE’s commitment to its present and future stakeholders – continuously expanding its reach by building bridges and expanding opportunities, and further enhancing Taiwan-Philippines business and economic relations.

From: Strategy Management and Communications Department