Here is an amazing opportunity for all residents and business owners in Lagos State. The LSETF serves as a catalyst to ignite the creative and innovative potential of all Lagos residents and alleviate unemployment throughout the state. With a mandate to invest N25 billion directly, the Fund aims to empower Lagos residents to grow and scale their micro, small, and medium enterprises (MSMEs) or acquire skills for better employment opportunities.
The LSETF Loan Program strives to provide affordable access to funding for small businesses to expand, generate wealth, and create employment opportunities. You can seize this opportunity and be one of the beneficiaries of this amazing course. What’s more? With an attractive interest rate of only 9% per year, this loan scheme is open to business owners registered as residents of Lagos State.
Over the next three years, the Fund aims to create 300,000 direct and 600,000 indirect job opportunities by supporting at least 100,000 MSMEs. Leveraging the expertise and capabilities of its partners, the Fund will primarily deliver on its objectives.
Loan Options:
- Micro Enterprise Loan
- Micro Enterprise Start-Up Loan
- Small and Medium-Sized Enterprise Loan
LSEFT Micro Enterprise Loan
Benefits
- Available to all business owners operating and residing in Lagos State
- Maximum loan amount: =N=500,000
- Loan tenure: 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
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-recognized certifying body
Small and Medium Size Enterprise Loan
Benefits
- Available to all small and medium-sized business owners operating and residing 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
Application Procedure: Click Here to Apply
Application Deadline: March 31, 2024.