Nouie Mae L.

Rosique

BSA

Small business can secure financing from banks via CSF cooperative

By Joann Villanueva

February 20, 2023, 8:27

MANILA – Small businesses now have greater chances to securing funding from banks once they become
part of a cooperative accredited by the Credit Surety Fund (CSF).

Cooperative Development Authority (CDA) senior cooperative development specialist and head of CSF
Section of CDA National Capital Region (NCR) Sergio Herrero Jr. cited the importance of CSF cooperative
during the Laging Handa public briefing on Monday.

Herrero said CSF cooperative was created by virtue of Republic Act (RA) 10744 to aid micro, small and
medium enterprises (SMEs), small cooperatives and non-government organizations (NGOs) secure
financing through a surety cover to be provided by pooled funds from the banks, local government units
(LGUs) and large and well-managed cooperatives.

Cooperative Development Authority is now conducting a series of events to educate LGUs and other
stakeholders on how the CDA will accredit cooperatives per locality that will help small businesses in
their respective areas. Herrero said this measure will help small businesses recover from the impact of
the pandemic since it will allow them to have cover for the loans that they will secure from the banks for
capital.