LSETF MSME Loan Programme (Lagos State)
- Country:
- Nigeria
- Amount:
- ₦5,000,000
- Deadline:
- Open all year
Funder: Lagos State Government
In short
Loans of ₦50,000 to ₦5 million at 9% a year for business owners resident in Lagos State, with a 5% equity contribution.
About this opportunity
The Lagos State Employment Trust Fund offers affordable loans to help small businesses grow, create wealth and employ people. The interest rate is 9% per annum and the equity contribution is 5% of the loan. There are three main loans. The Micro Enterprise Loan is ₦50,000 to ₦500,000 over 12 months for businesses operating for at least one year. The Micro Enterprise Start-Up Loan is ₦50,000 to ₦250,000 over 12 months and needs a vocational training certificate from a Lagos State-recognised body. The Small and Medium Enterprise Loan is ₦500,000 to ₦5 million over 24 to 36 months for CAC-registered businesses that have operated for at least a year. All applicants must be registered residents of Lagos State. Applications are made online on the LSETF loan portal.
Requirements
Business owner operating and resident in Lagos State
CAC registration for loans above ₦500,000
Valid government-issued ID and Bank Verification Number
LASSRA ID and Tax ID (LIRS)
Business in existence for at least one year (the start-up loan needs a vocational certificate instead)
Six months of bank statements (corporate statements for the SME loan)
Also good to have
- Ability to fund the 5% equity contribution
Always confirm on the official page before applying.
How to apply
- 1
Open the LSETF loan portal
Choose the loan category that fits your business: micro, micro start-up, or small and medium enterprise.
Open step link - 2
Gather your documents
LASSRA ID, Tax ID, government ID, BVN, passport photographs and bank statements. SME loans also need valid CAC documents.
- 3
Complete the online application
Applications are made entirely online.
- 4
Prepare your 5% equity contribution
The contribution is 5% of the loan size.
Documents you will need
- CAC certificate
- TIN certificate
- Bank statements
- ID of directors
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