“Farmers’ cooperatives in Kalinga to benefit from Credit Surety Fund,” says CDA chief Raquepo, thanking Gov. Edduba for embracing initiative

TABUK CITY, Kalinga — Farmers’ cooperatives in Kalinga could gain better access to bank loans through the Credit Surety Fund (CSF), which helps qualified borrowers secure financing despite lacking sufficient traditional collateral, Cooperative Development Authority (CDA) Chairman Undersecretary Alexander Raquepo said.

Raquepo made the statement during the CSF Roadshow and Contributors’ Seminar at the Kalinga Sports Center in Tabuk City on October 21, expressing hope that more small cooperatives, particularly farmers’ groups, would benefit from the program.

“This project, we call CSF, has been successful in many other provinces…I am sure that in the coming days, months, and years, adun to ti matulungan tayo nga babasit nga kooperatiba, aglalo dagitay farmers’ cooperatives iti Kalinga,” Raquepo said.

He also credited the provincial government under Governor James S. Edduba for embracing the initiative, stressing that local government support is important in strengthening the cooperative sector.

“We extend our sincerest thanks to the leadership of the province of Kalinga, Governor James Edduba, for accepting this project. Ammok nga tu best indicator kanu nga nalalaing ti kooperatiba iti probinsya ti Kalinga ket ti leadership iti local government unit,” he added.

The CSF provides surety coverage for eligible loans, helping qualified cooperatives and micro, small, and medium enterprises obtain bank financing even without sufficient traditional collateral. It does not lend money directly but provides additional security to participating lenders, subject to program requirements and the lender’s assessment.

Under Republic Act No. 10744, or the Credit Surety Fund Cooperative Act of 2015, the fund pools contributions from participating cooperatives and other partners, including local government units and government financial institutions.

During the seminar, Bangko Sentral ng Pilipinas Financial Inclusion Office Manager Eleanor D. Ramos presented the program’s financing mechanism, explaining how pooled contributions support surety coverage. The presentation indicated that the CSF may cover up to 80 percent of an eligible loan.

The presentation also reported 53 registered CSF cooperatives nationwide as of October 2026, comprising 26 in Luzon, nine in the Visayas, and 18 in Mindanao.

The roadshow brought together provincial officials, cooperative representatives, and financial sector partners to discuss how the program could expand local cooperatives’ access to financing. It was held as part of Kalinga’s observance of Cooperative Month this October.