State-owned Development Bank of the Philippines (DBP) reiterates its committed support to the Credit Surety Fund (CSF), one of the initiatives in the growth of micro SMEs.
DBP president & chief executive officer Reynaldo G. David explained that since Filipinos generally want to be employed than be employers, the CSF provides not just opportunities for micro SMEs but also for job seekers. “The CSF not just creates entrepreneurs, but it also creates employment.”
David also said DBP’s participation in the CSF program is part of its commitment to nurture the growth of small entrepreneurs in the country, citing that the Bank has committed more than P15-million for 8 CSFs.
He said DBP branches have been instructed to be more proactive in assisting small borrowers in areas where the CSF has been established. “We commit to serving you better and faster to the reduction and hopefully for the eradication of the usual bureaucratic maze so we can expand our micro SME portfolio.”
He also committed DBP’s assistance to train or coach cooperatives, particularly in capability-building. DBP’s assistance can be expanded in terms of loan evaluation, loan processing, and loan approval, based on our credit requirements, evaluation standards, accounting, and risk management, according to David. (PIA)