The Lagos State Employment Trust Fund (LSETF) has launched an application portal for its Micro, Small, and Medium Enterprises (MSME) loan program, offering business owners the opportunity to access up to N5 million to scale their operations.
In a statement released on Monday, LSETF announced the opening of the loan portal, inviting entrepreneurs to apply for funding to fuel their business growth in 2024. The loan program is designed to support businesses in achieving various goals, including scaling operations, expanding to new markets, or launching new products.
The MSME loan program is divided into three categories: Micro Enterprise Startup (MES) Loan, Micro Enterprise (ME) Loan, and Small & Medium Enterprise (SME) Loan.
For the MES category, applicants can receive between N50,000 and N250,000. The requirements include:
– LASRRA ID
– Tax ID (LIRS)
– Valid government-issued identity card
– Bank Verification Number (BVN)
– 1 passport photograph
– Vocational training certificate from a Lagos State-recognized certifying body
MSME applicants are eligible for loans ranging from N50,000 to N500,000, with the following requirements:
– LASRRA ID
– LIRS tax receipt
– Valid government-issued identity card
– Bank Verification Number (BVN)
– 1 passport photograph
– 6-month bank statement(s)
For SME business loans, applicants can access between N500,000 and N5 million by providing the following documents:
– LASRRA ID
– LIRS tax receipt
– Valid government-issued identity card
– Valid CAC documents
– Bank Verification Number (BVN)
– 1 passport photograph
– 6-month corporate bank statement(s)
– Business registration with CAC and operational for at least a year
Interested individuals can apply using the application link.
