Government-backed loans for cooperatives reached P2.41 billion as of June, expanding financing support for agriculture, small businesses and electric cooperatives.
State-run credit guarantor Philippine Guarantee Corp. (PhilGuarantee) reported on Tuesday that it facilitated P2.41 billion in cumulative outstanding guaranteed loans for cooperatives, helping 24,386 beneficiaries.
The bulk of the financing went to cooperatives involved in rice production and other agricultural activities, which accounted for P1.76 billion in outstanding guaranteed loans from 2019 to June 2026 and aided 24,255 beneficiaries.
Guarantee support was also extended to cooperatives serving micro, small and medium enterprises (MSMEs). From 2024 to June 2026, cooperatives supporting MSMEs accessed P28.48 million in cumulative outstanding guaranteed loans, benefiting 113 beneficiaries.
Furthermore, 18 electric cooperatives had availed themselves of financing under the Electric Cooperative Partial Credit Guarantee (ECPCG) Program as of June.
The program provides guarantee support to electric cooperatives in securing financing for their operations and other sustainable requirements. It had a cumulative outstanding guaranteed loan value of P622.60 million as of June, according to PhilGuarantee.
The agency said cooperatives remain an important part of its development financing efforts as it seeks to broaden access to credit for productive sectors of the economy.
Of its 206 partner lending institutions as of June, 46 were cooperatives, it said.
‘As a key partner in development financing, PhilGuarantee empowers cooperatives to expand their lending capacity and provide financing support to communities engaged in productive activities,’ it added.
PhilGuarantee provides credit guarantees in support of trade and investments, exports, infrastructure, energy, tourism, agricultural business, housing, small businesses and other priority sectors of the economy.