As it celebrates its 2nd year, the Davao del Norte Credit Surety Fund (DNCSF) released P1.8-million worth of loans to two of its coop members.
During its 2nd Annual General Assembly with the theme, “DNCSF: Second Year of Delivering Novel Credit Service Facility for MSMEs,” two checks worth P1-million and P800,000 were turned over to the Central Tadeco Multipurpose Cooperative and Davao Integrated Resource Cooperative, respectively, from the Development Bank of the Philippines (DBP) , Tagum City.
DBP is one of the partners of the province in its implementation of the CSF program of the Bangko Sentral ng Pilipinas (BSP) together with Land Bank of the Philippines and the Industrial Guarantee and Loan Fund.
Loans amounting to P11-million have been approved since the DNCSF’s inception in 2009.
According to Director Rosalinda Dumaliang of the BSP Department of Loans and Credit, in her message delivered by Bank Officer II Michelle Samson during the recent assembly, “P8.7-million had been released to 91 borrowers” through the DNCSF which is the “most number of unique beneficiaries of any CSF nationwide.”
