Applying for the Livelihood Assistance

ABOUT THE SERVICES

METRO PESO, through its Enterprise and Cooperative Development Center (ECDC), implements a livelihood program that aims to
improve the socio-economic well-being of the low-income population of Naga. The program provides financial assistance/loans for the income-generating projects of qualified beneficiaries.

Individuals or groups/cooperatives may avail of this assistance.

Qualifications for Loan Assistance
Individual Applicants
The applicant must:

  • be a bona fide resident of Naga City
  • be 18 years old and above
  • not be an employee of the City Government of Naga
  • not have any existing or overdue Metro PESO livelihood loans
  • have a new or existing business

The applicant must have a co-maker. The co-maker may be any person other than the applicant’s spouse; and, should satisfy all qualifications above except the third.

Groups/Cooperatives
At least 70% of the cooperative’s members are residents of the city.

Mode of Payment
A beneficiary may choose from among the following modes of payment.
This is included in the PESO-Client Agreement.

  • Lumpsum
  • Quarterly (for groups/cooperatives only)
  • Monthly
  • Weekly
  • Daily
  • Every other day
  • Every 15th and 30th of the month

Term, Interest and Penalty
The loan term depends on the project to be undertaken.
The following, however, are set for specific projects:

  • agri-based projects (e.g. piggery) – 6 months, lump sum payment
  • sari-sari store, buy and sell – 3 months, equal monthly payments
  • farm inputs – 4 months, lump sum payment

Cooperatives can avail of a loan term of up to 2 years. Payment will be made on a quarterly basis.

Interest is pegged at 1% per month. An additional 2% penalty is charged for any default or lapses in payment.

REQUIREMENTS

For Individual Borrowers

  • Application Form for Assistance or Metro PESO Form L-1
  • 1″ x 1″ picture (2 pieces)
  • Community Tax Certificate of Borrower and Co-maker
  • Business License/Mayor’s Permit (for those with a capitalization of P 5,000.00 and up)
  • Personal / Company ID of Borrower and Co-maker

For Cooperatives/Group Borrowers

  • Application Form for Assistance or Metro PESO Form L-1
  • Financial Statement
  • Official Receipt
  • Certificate of Registration
  • By-laws
  • List of Officers and Members
  • Board Resolution Authorizing the Request for Assistance
  • Affidavit of Undertaking
  • List of Beneficiaries
  • Accreditation by the Sangguniang Panlungsod

HOW TO AVAIL OF THE SERVICES

FOLLOW THESE STEPS IT WILL TAKE YOU PLEASE APPROACH
1. Go to the Metro PESO ECDC

Proceed to the Metro PESO Enterprise and Cooperative Development Center (ECDC) and look for the staff in charge of loan assistance.

1 minute JOHN MICHAEL D. RICO
Project Dev’t. Officer

IMARCO B. NAYVE
Credit Officer

PAULITA D. HALLIG
Bill Collector

2. Interview

The front liner will interview you.
State your full name, exact address, present job and specify the business/livelihood project to be started or you are presently undertaking.

10 minute
3. Fill-up the Application for Loan Assistance Form

Fill up Metro PESO Form L-1 or the Impormasyon sa Pangungutang.
Approach the interviewing officer for questions regarding the form.

5 minutes
4. Submit the Application Form

After accomplishing form, return it to the interviewing officer for review and validation.

1 minute
5. Secure Clearance from the CSWDO
The Application Form is returned to you.

Proceed to the City Social Welfare Development Office (CSWDO) and secure loan clearance. The CSWDO also grants livelihood loans. It certifies whether you are:

a. Cleared (not yet assisted by the CSWDO, no existing loan)

b. Already assisted (fully-paid)

c. With outstanding loan from the CSWDO (disqualified)

15 minutes City Social Welfare and
Development Office
6. Record Verification with LiBIS

The front liner/interviewing officer checks if you and your co-maker have any outstanding Metro PESO loans through the Livelihood Beneficiaries Information System (LiBIS).

Applicants and co-makers with existing loans are disqualified from re-applying. You may look for a new co-maker if the latter is disqualified.

1 minute PATRICK A. GALLARDO
MIS Staff

RENATO A. ABARDO
Bill Collector

7. Attend the Pre-Entreprenuership Training (PET 3 hours JOHN MICHAEL D. RICO
Project Dev’t. Officer

IMARCO B. NAYVE
Credit Officer

PAULITA D. HALLIG
Bill Collector

RENATO A. ABARDO
Bill Collector

HONORINO A. PENOLIO
Credit Investigator

PATRICK A. GALLARDO
MIS Staff

8. Credit Investigation

Metro PESO conducts a credit investigation to determine your credit worthiness and the project’s viability.

Before the actual credit investigation is carried out, the Credit Investigator checks if the application form is properly filled-up and follows-up completion of incomplete entries.

1 hour HONORINO A. PENOLIO
Credit Investigator

JOHN MICHAEL D. RICO
Project Dev’t. Officer I

9. Approval

Credit investigator submits the application form to the PESO Manager for approval.

The City Mayor signs the application for Assistance form.

30 minutes REUEL M. OLIVER
Acting City PESO Manager

JOHN G. BONGAT
City Mayor

METRO NAGA PUBLIC EMPLOYMENT SERVICE OFFICE
GF DOLE Bldg., J. Miranda Ave., Concepcion Pequeña, Naga City
For more information, please contact:
Reuel M. Oliver, Acting City PESO Manager
Tel No. (054) 473-8274 or 811-8231
E-mail: metropeso@naga.gov.ph