Finance Programs for Micro Small Enterprises

TARLAC CITY GOVERNMENT

Program Objectives:
To introduce an accessible and affordable alternative credit
system for the urban and rural poor for the financing of
income-operating activities.
To encourage the poor to use their time, effort and talents
productively.
To empower women through their involvement in economic
activities and their participation in decision-making process.
To reduce dependency on moneylenders who charge high
interest rates and on dole outs and other forms of political
patronage.
Eligible Borrowers:
At least 18 years old but not more than 65 years old,
preferably women. A student or an employed person cannot
become a borrower since the livelihood activities require fulltime responsibilities.
Must have stayed in the present residence for at least
one (1) year and is known in the community, as attested to
by the Barangay.
Must be of good moral character as attested by the
Barangay.
Must be poor, as attested to by the Barangay.

Eligible Projects:
Any micro-enterprise/livelihood activity (trading, services,
vending) that can generate immediate additional income.
Project(s) which is/are within the capacity of the borrower to
manage.
Must be a legal activity.
Loan Purpose:

Additional working capital for any income

generating activities.

Terms/Requirements:

Loan Amount: Maximum of P5,000.00, depending on the

requirements of the proposed livelihood project
Interest Rate: The loan shall be charged at a minimal
interest rate of 1% per annum
Mode of Payment: Will depend on the requirements of the
proposed livelihood project. Advance payment is encouraged
Maturity/Repayment: All

loans

shall

have

uniform

maximum loan duration of 120 Days weeks (4 months).

Security: No collateral shall be required from the borrower

Documentary Requirements:
Loan Application

 Promissory Note
Barangay Clearance
Credit Implementation Ticket
Disclosure Statement