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 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 Lagos State Employment Trust Fund (LSETF) is a government initiative aimed at tackling unemployment and fostering economic growth in Lagos State, Nigeria. Established in 2016 by the Lagos State government, the LSETF serves as a catalyst for job creation and entrepreneurship development in the state.
The primary objective of the LSETF is to provide financial support, including loans, grants, and capacity-building programs, to Micro, Small, and Medium Enterprises (MSMEs) operating in Lagos State. By providing access to affordable finance and business support services, the LSETF aims to empower entrepreneurs and facilitate the growth of small businesses, thereby creating employment opportunities and stimulating economic activity.
One of the flagship programs of the LSETF is the Lagos State Employability Support Project (LSESP), which focuses on enhancing the employability of unemployed Lagos residents by providing vocational training and job placement services. Through partnerships with training providers and employers, the LSESP equips participants with relevant skills and connects them with job opportunities in various sectors of the economy.
Additionally, the LSETF offers funding opportunities for startups and existing businesses through its loan programs, such as the Lagos State Entrepreneurship Trust Fund (LSETF) Loan Scheme. These loans are designed to support businesses at different stages of growth, from startup capital for new ventures to expansion capital for existing enterprises.
The LSETF collaborates with other government agencies, financial institutions, development partners, and private sector organizations to implement initiatives aimed at promoting entrepreneurship, innovation, and sustainable economic development in Lagos State.
The Lagos State Employment Trust Fund plays a vital role in driving inclusive economic growth and reducing unemployment in Lagos State through its various programs and interventions targeted at supporting MSMEs and job seekers.
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
- 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,