The LSETF Loan Program 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 a 9% interest rate per annum, is available to business owners who are registered residents of Lagos State.
The Lagos State Employment Trust Fund (LSETF) was established by The Lagos State Employment Trust Fund Law 2016 to provide financial support to residents of Lagos State, to tackle unemployment through job and wealth creation.
The Fund will operate with an initial capital of N25 billion contributed over four years by the Lagos State Government, but will also raise additional funding from various sources including donor partners, development agencies, corporate organizations, and individuals.
Categories
LSETF Micro Enterprise Loan (N50,000 – N500,000) per person
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
LSETF Micro Enterprise Start-Up Loan (N50,000 – N250,000) per person
FEATURES
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
TACT LOAN
DO YOU RESIDE OR RUN A BUSINESS IN THE LAGOS EAST SENATORIAL DISTRICT (EPE, IBEJU-LEKKI, IKORODU, KOSOFE OR SOMOLU)? IF YOU DO, WE ARE PLEASED TO INFORM YOU THAT YOU CAN APPLY FOR THE TACT LOAN (FACILITATED BY SENATOR MUKHAIL ADETOKUNBO ABIRU) AND GET UP TO ONE MILLION NAIRA AT AN INTEREST RATE OF 6% PER ANNUM!
