LSETF serves as an instrument to inspire the creative and innovative energies of all Lagos residents and reduce unemployment across the State. The Fund has the mandate to directly invest N25Billion in helping Lagos residents grow and scale their Micro Small and Medium Enterprises (“MSMEs”) or acquire skills to get better jobs.
The LSETF Loan Programme aims to create affordable access to funding for small businesses to grow, expand, create wealth and put people to work. The loan scheme, which attracts only 9% interest rate per annum, is available to business owners who are registered residents of Lagos State.
The Fund expects to create 300,000 (Three Hundred Thousand) direct and 600,000 (Six Hundred Thousand) indirect jobs within three years, by supporting at least 100,000 (One Hundred Thousand) MSMEs.
The Fund will deliver primarily through its partners and will leverage their experience & capabilities to achieve its goals
- Micro Enterprise Loan
- Micro Enterprise Start Up Loan
- Small and Medium Size Enterprise Loan
LSEFT Micro Enterprise Loan
Benefits
FEATURES
- AVAILABLE TO ALL BUSINESS OWNERS OPERATING AND RESIDENT IN LAGOS STATE
- MAXIMUM LOAN AMOUNT =N=500,000
- LOAN TENOR = 12 MONTHS (NO MORATORIUM)
- EQUITY = 5% OF LOAN SIZE
- INTEREST RATE = 9% PER ANNUM
Requirements
- LASSRA ID
- TAX ID (LIRS)
- VALID GOVERNMENT ISSUED IDENTITY CARD
- BANK VERIFICATION NUMBER
- 2 PASSPORT PHOTOGRAPHS
- 6 MONTHS BANK STATEMENT
- BUSINESS MUST BE IN EXISTENCE FOR AT LEAST ONE YEAR
Interested in this scholarship; Go down to apply
LSEFT Micro Enterprise Start Up Loan
Benefits
- AVAILABLE TO ALL MICRO ENTERPRISE START-UPS IN LAGOS STATE
- MAXIMUM LOAN AMOUNT =N=250,000
- TENOR = 12 MONTHS
- EQUITY = 5% OF LOAN SIZE
- INTEREST RATE = 9% PER ANNUM
Requirements
- LASSRA ID
- TAX ID (LIRS)
- VALID GOVERNMENT ISSUED IDENTITY CARD
- BANK VERIFICATION NUMBER
- 1 PASSPORT PHOTOGRAPH
- VOCATIONAL TRAINING CERTIFICATE FROM A LAGOS STATE-RECOGNISED CERTIFYING BODY
Interested in this scholarship; Go down to apply
LSEFT Small and Medium Size Enterprise Loan
Benefits
- AVAILABLE TO ALL SMALL AND MEDIUM SIZE BUSINESS OWNERS OPERATING AND RESIDENT IN LAGOS STATE
- MAXIMUM LOAN SIZE =N=5M
- TENOR = 24 – 36 MONTHS
- EQUITY = 5% OF LOAN SIZE
- INTEREST RATE = 9% PER ANNUM
Requirements
- LASSRA ID
- TAX ID (LIRS)
- VALID GOVERNMENT ISSUED IDENTITY CARD
- TIN NUMBER (FIRS TAX IDENTIFICATION NUMBER)
- VALID CAC DOCUMENTS
- BANK VERIFICATION NUMBER
- 2 PASSPORTS
- 12 MONTHS CORPORATE BANK STATEMENT
- BUSINESS MUST BE REGISTERED WITH CAC AND OPERATIONAL FOR AT LEAST A YEAR
Method of Application
Click Here to Apply
For More Information,
Application Deadline: March 31, 2024.
