Small biz can secure financing from banks through CSF coop

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

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

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. Under the law, Herrero said a small business can secure up to 10 times the amount it has shared in the cooperative.

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