Credit Surety Fund (CSF) Credit Facility

Credit Surety Fund (CSF) Credit Facility 2

Program Title: Credit Surety Fund (CSF) Credit Facility Program Objective: To provide financial assistance to micro, small and medium enterprises (MSME) projects of participating cooperatives and their members who have no capacity to offer collaterals. The surety cover shall take the place of collateral. Eligible Borrowers: * At least 70% Filipino owned * CSF member cooperative – for its own project * CSF member cooperative’s member or sub-borrower undertaking its own MSME project Types of Facility: * For CSF member cooperative – Credit line for subloans to members * For CSF member cooperative’s member undertaking its own MSME project: * CSF member cooperative – for its own project * CSF member cooperative’s member or sub-borrower undertaking its own MSME project: o Credit Line for working capital o Term Loan – to finance construction of building/plant; acquisition of equipment; and permanent working capital Terms/Requirements: Loan Amount: * DBP to CSF member cooperative o Up to ten (10) times of its total contribution to the CSF or the maximum amount eligible for CSF surety cover, whichever is lower. o Cooperative with existing credit line with the Bank may utilize its existing line to avail of the CSF Program and maintain booking of its loan with the originating department of DBP. Additional credit line, however, may be granted based on the recommendation of the booking department. However, the coverage of the surety will be based on its contribution to the CSF. * CSF member cooperative to sub-borrower/MSME o Up to ten (10) times of its total contribution to the CSF or the maximum amount eligible for CSF surety cover, whichever is lower. Interest Rates: * DBP to CSF member cooperative – eight (8) percent per annum, subject to review, fixed upon availment. * CSF member cooperative to sub-borrower/MSME – cost plus maximum spread of four (4) percent per annum or a maximum of twelve (12) percent per annum. Repayment: Based on project cashflows but in no case shall be more than five (5) years. Security: * CSF Surety Cover is the alternative security to the loan with a risk rating ratio of 80:20 (surety vs. DBP). Surety cover shall initially be at 80%. It shall increase to 90% once 30% of the principal amount has been paid, and to 100% once 60% of the principal has been paid. Basic Requirements: * CSF member cooperative intending to avail of a credit line for sub-loans to members shall open a Deposit Account with DBP and shall submit the following: a. Duly accomplished Application for Availment (DBP Form); b. Duly accomplished Availment Data Sheet (DBP Form); c. Copy of the Guidelines of the Cooperative’s Credit Process and Sub-borrower Loan Availment Procedures, duly certified by the Secretary of the Cooperative; d. Certificate of Registration, By-laws and Articles of Cooperation including amendments; e. Board Resolution/Secretary’s Certificate Authorizing the Availment of Credit Line under the CSF Program and Designating the Authorized Official to Transact with DBP; f. Promissory Note with Disclosure Statement duly signed by the Authorized Signatories; g. Certificate of Operation and Good Standing issued by the CDA; h. Certificate of Membership and Good Standing for cooperative member availing the loan to be issued by the Secretary of the Cooperative; and i. Letter of Surety Cover to be issued by the CSF Oversight Committee for each availment. * CSF member cooperative applying for a direct loan for its own project shall likewise comply with the foregoing requirements, except for letters “c” and “h”. In addition, cooperative shall also submit its own project description with corresponding business plan and favorable endorsement from the CSF Oversight Committee. * CSF member cooperative and/or its members applying for a direct loan for its own project shall open a Deposit Account with DBP and shall submit the following documents together with the applicable requirements listed in the checklist of requirements. In addition, the following shall also be submitted: o Certificate authorizing the availment of loan under the CSF Program and attesting to the borrower’s Membership and Good Standing, issued by the Secretary of the Cooperative to which the borrower belongs; o Description of the member’s own project with corresponding business plan and favorable endorsement from the CSF Oversight Committee; and o Letter of Surety Cover issued by the CSF Oversight Committee. Contact Details: DEVELOPMENT BANK OF THE PHILIPPINES (DBP) Head Office: Sen. Gil J. Puyat Ave. cor. Makati Avenue, Makati City Dulce Q. Ranosa Senior Assistant Vice President DBP-Head Office 5th Floor, DBP Building Makati Ave. cor. Gil J. Puyat Avenue Ext., 1200 Makati City Direct Line: (632) 840.5356 Trunkline: (632) 818.9511 local 2557 Fax: (632) 894.4927 E-mail: dqranosa@devbankphil.com.ph-119- Regional Marketing Center (RMC) Eduardo Z. Rivera Acting RMC Head/Asst. Vice President RMC-Northeastern Luzon 2nd Floor, DBP Building Osmena, National Highway Ilagan, 3500 Isabela Direct Line: (6378) 624.0877 622.2273 Fax: (6378) 622.2272/2273 E-mail: rmc-nel@ devbankphil.com.ph Perla S. Soleta RMC Head/Sr. Asst. Vice President RMC/Northwestern Luzon 2nd Floor, DBP Building M. H. Del Pilar St. 2400 Dagupan City Direct Line: (6375) 515.8937 523.7836 Fax: (6375) 523.7835/246.0742 E-mail: rmc-nwl @devbankphil.com.ph Ma. Teresita S. Tolentino RMC Head/Vice President RMC-Metro Manila 2nd Floor, DBP Building Commonwealth Avenue 1121 Quezon City Direct Line: (632) 920.4781 920.4715 Fax: (632) 920.4776/920.4903 E-mail: rmc-mm@ devbankphilc.com.ph Herminio C. Catahan RMC Head/Sr. Asst. Vice President RMC-Central Luzon Dona Isa Fel Building Dolores, McArthur Highway San Fernando City, 2000 Pampanga Direct Line: (6345) 961.0003 961.4782 Fax: (6345) 963.1231 E-mail: rmc-cl@ devbankphilcom.ph Rolando N. Gordovez RMC Head/Asst. Vice President RMC-Southern Tagalog 2nd Floor, DBP Building Merchan St., 4301 Lucena City Direct Line: (6342) 373.1917 373.4404 Fax: (6342) 373.4404 E-mail: rmc-st@ devbankphilcom.ph Abelardo L. Monarquia RMC Head/Sr. Asst. Vice President RMC-RMC Bicol 3rd Floor, DBP Building Quezon Avenue, 4500 Legaspi City Direct Line: (6354) 472.4728 472.4729 Fax: (6354) 472.4727 E-mail: amorbr@ devbankphilcom.ph Rodelio L. Labit RMC Head/Sr. Asst. Vice President RMC-RMC Eastern Visayas 2nd Floor, DBP Building Corner Zamora and Paterno Sts. Tacloban City, 6500 Leyte Direct Line: (6353) 325.2958 to 2960 Fax: (6353) 325.2961 E-mail: rmc-ev@ devbankphilcom.ph -120- Regional Marketing Center (RMC) Rosalio Dagondon RMC Head/Vice President RMC – Central Visayas Mezzanine Floor, DBP Building Osmena Blvd., 6000 Cebu City Direct Line: (6332) 255.6310 255.7410 Fax: (6332) 253.6951 E-mail: rmc-cv@ devbankphil.com.ph Rosalio Melanie Pama Acting RMC Head/Asst. Vice President RMC – Panay Mezzanine Floor, DBP Building I. Dela Rama St., 5000 Iloilo City Direct Line: (6333) 336.6432 337.6330 Fax: (6332) 335.7567 E-mail: rmc-panay@ devbankphil.com.ph Ame Cris C. Toledo RMC Head/Sr. Asst. Vice President RMC – Negros Mezzanine Floor, DBP Building corner South Capital & Lacson Sts. 6100 Bacolod City Direct Line: (632) 818.9511 local 2557 Fax: (632) 894.4927 E-mail: rmc-negros@ devbankphil.com.ph Edgar N. Seronay RMC Head/Sr. Asst. Vice President RMC-Northern Mindanao 2nd Floor, DBP Building Corrales Avenue cor. Tirso Neri St. 9000 Cagayan de Oro City Direct Line: (6388) 231.4266 309.4266 Fax: (6388) 723.316 E-mail: rmc-cdo@ devbankphilcom.ph Sisinio S. Narisma RMC Head/Sr. Asst. Vice President RMC-Northeastern Mindanao J. C. Aquino Ave. corner J. Rosales Avenue, 8600 Butuan City Direct Line: (6385) 815.6036 341.5136 Fax: (6385) 815.1627 E-mail: amonem@ devbankphilcom.ph Neogen M. Chavez RMC Head/Sr. Asst. Vice President RMC-Southern Mindanao 2nd Floor, DBP Building Roxas Avenue, General Santos City Direct Line: (6383) 552.2328 552.4514 Fax: (6383) 301.1688 E-mail: rmc-sm@ devbankphilcom.ph Fernando G. Lagahit RMC Head/Sr. Asst. Vice President RMC-Southeastern Mindanao 2nd Floor, DBP Building C. M. Recto, 8000 Davao City Direct Line: (6382) 221.2620 222.3478 Fax: (6382) 221.2517 E-mail: amosem@ devbankphilcom.ph Catalina A. Marquez RMC Head/Manager RMC-Western Mindanao DBP Building, Don P. Lorenzo St. Port Area, 7000 Zamboanga City Direct Line: (6362) 992.7865 991.1316 Fax: (6362) 991.0359 E-mail: amowm@ devbankphilcom.ph

Source: Business Diary Philippines

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