This descriptive study explored the micro-financing program of the City Social Welfare and Development Office of Cagayan de Oro City. The study pursued the following objectives: 1) to measure the level of adequacy and effectiveness of the implementations of microfinance program, 2) to determine its impact on the lives of the beneficiaries, and 3) to determine the significant relationship between the implementation of the program and its impact on the quality of life of the beneficiaries. The respondents were the 164 beneficiaries of six villages in the city. Standardized questionnaire, supplemented with FGD’s, was the main tool in data gathering. Results show that the beneficiaries’ quality of social, economic, political, and spiritual life significantly improved due to the adequacy and effectiveness of the implementation of the microfinancing program of the City Social Welfare and Development Office of the City. Data gathered were processed using the weighted mean and Pearson Product Moment Correlation. In conclusion, small loans used for backyard business generate income, thereby having the potential to reduce poverty; financial gain improves health and self-confidence; and microfinancing helps individual cope with unemployment. Keywords - Finance, microfinancing program, social welfare development, descriptive design, Philippines.