Lagos State Employment Trust Fund 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 Lagos State Employment Trust Fund (LSETF) Micro, Small, and Medium Enterprise (MSME) Loan Program is a financial initiative aimed at providing affordable and accessible loans to micro, small, and medium-sized enterprises (MSMEs) in Lagos State, Nigeria. The program is part of the government’s efforts to support entrepreneurship, job creation, and economic development within the state.
Through the MSME Loan Program, eligible businesses in Lagos State can access financial support to expand their operations, purchase equipment, hire employees, or meet other business needs. The loans offered under this program are typically low-interest and have favorable repayment terms, making them attractive options for small businesses looking to grow.
The application process for the LSETF MSME Loan Program is usually straightforward and transparent, with clear eligibility criteria and documentation requirements outlined by the fund. Businesses are typically required to demonstrate their viability, sustainability, and potential for growth in order to qualify for the loans.
In addition to providing financial assistance, the LSETF MSME Loan Program may also offer business advisory services, training, and mentorship to help entrepreneurs and business owners maximize the impact of the funds received. These support services are aimed at improving the management, operations, and overall competitiveness of MSMEs in 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 For The Lagos State Employment Trust Fund MSME Loan Program
- 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
Visit The Official Website to Apply
Application Deadline: March 31, 2024
For More Information,