THE Philippine Guarantee Corp. (Philguarantee) said it has provided guarantee support for nearly P640 billion worth of loans since the end of 2019.
In a social media post on Wednesday, the state-run firm said its guarantees were coursed through 200 partner lending institutions.
“As we look ahead of the year, Philguarantee remains a trusted, reliable, and responsive partner, helping financial institutions lend with confidence, and enabling business, homeowners, and communities to move forward,” Philguarantee said.
It said its guarantees enabled lending to socialized and low-cost housing projects that built 640,804 units, supported 327,163 small farmers and fisherfolk, and assisted 71,288 MSMEs (micro-, small-, and medium-sized enterprises),” Philguarantee said.
The company facilitates by pledging to cover debts if borrowers default, and is active in supporting credit access to MSMEs, exporters, infrastructure and energy developers, farms, housing, tourism, and other industries.
Philguarantee remitted P1.28 billion in dividends to the Treasury in 2024. Its revenue rose 103% to P5.32 billion in 2023, generated primarily from guarantee fees and premiums, commitment fees, and the sale or rental of real estate. — Aubrey Rose A. Inosante
