Credit Surety Fund: A Credit Innovation for Micro, Small, and Medium-Sized Enterprises in the Philippines
Published By: ADBI on eSS | Published Date: July , 2016Micro, small, and medium-sized enterprises are a backbone of the Philippine economy. One
factor that hinders the growth of these enterprises is their difficulty in accessing finance from
banks and other financial institutions. The Credit Surety Fund (CSF) was established to
help these enterprises and other organizations become creditworthy and bankable. The CSF
is a credit guarantee program initiated by the Bangko Sentral ng Pilipinas that enables
enterprises and cooperatives to gain easier access to loans from banks without providing
collateral. The CSF pools contributions from cooperatives and nongovernment organizations,
local government units, institutions such as the Development Bank of the Philippines, the
Land Bank of the Philippines, the Industrial Guarantee and Loan Fund, and other
organizations. In this way, it is a public–private partnership that links the key players of the
economy to empower enterprises and cooperatives. [Working Paper No. 586].
Author(s): Gary V Maningo | Posted on: Aug 19, 2016 | Views() | Download (515)