About the Service:

Metro PESO, through its Enterprise Development Center (EDC), implements a livelihood program that aims to improve the socio-economic well-being of the low-income population. It provides training and soft loans for income-generating projects of qualified individuals, groups, associations, and cooperatives.

Loan Terms

• Interest: 1% per month
• Penalty: 2% for late payments
• Payment mode: Depends on business type
  • Agri-based: 4 months lump sum
  • Sari-sari store: 3 months monthly
  • Farm input: 6 months lump sum
• Post-Dated Checks: Encouraged for loans ≥ ₱100,000

Eligibility Criteria

To qualify, you must:

• Be a bona fide resident of Naga City (18+ years old)
• Have a new or existing business
• Not be employed by the City Government of Naga
• Not have any existing or overdue loans with Metro PESO or other LGU-Naga offices
• Have a co-maker (not an immediate family member)

Requirements Checklist

Prepare the following:

• Metro PESO EDC Forms: L-1, L-1b, L-2, L-3
• Two 1.5” x 1.5” photos (borrower & co-maker)
• Valid government-issued IDs (with Naga address)
• Community Tax Certificates (borrower & co-maker)
• Business License / Mayor’s Permit (for loans below P10,000.00 up)
• Barangay Business Permit & Clearance (for loans below P10,000.00)

Application Process

1. Go to Metro PESO EDC and approach staff
2. Interview + fill out NSRP form
3. Fill out Form L-1 (Loan Application)
4. Submit form + requirements
5. Record check via LiBIS (loan history)
6. Credit investigation
7. Approval by PESO Manager & City Mayor
8. Claim check at Treasurer’s Office
9. Payment processing

Downloadables:

GrOW Negosyo Membership Form     Livelihood Loan Application Form