Bataan CSF gives small enterprises easier access to bank credit


The central bank on Tuesday launched the Bataan Credit Surety Fund (CSF), which aims to help cooperatives and micro, small and medium enterprises (MSMEs) in the province gain easier access to bank credit, even without collateral.

CSF is a trust fund set up by pooling contributions of participating cooperatives, local government units, and other partner institutions.

According to the Bangko Sentral ng Pilipinas (BSP), these small enterprises that obtain loans from banks through the CSF will benefit from lower interest rates, compared with those charged by private lending investors or loan sharks.

The CSF Program also provides training to enhance the skills of participating cooperatives and MSMEs in financial and risk management, entrepreneurship, business management and credit appraisal and monitoring.

To ensure the availability of funds in the banking system for CSF loan beneficiaries, the BSP allows banks to rediscount loans granted under the CSF program.

The Bataan CSF is the 30th CSF established nationwide, the central bank said, adding that the province, through Governor Albert Garcia, pledged to contribute an initial P5 million, while 21 cooperatives in the province committed P7.21 million to the fund.

The Industrial Guarantee and Loan Fund, Development Bank of the Philippines and Land Bank of the Philippines, the partner institutions of the CSF, have also expressed strong support through their respective contributions to augment the fund, the BSP said.


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