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Micro Enterprise Loan Scholarship by Lagos State Employment Trust Fund (LSETF)

LSETF 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 Fund will deliver primarily through its partners and will leverage their experience & capabilities to achieve its goals.


LSEFT Micro Enterprise Loan

Application DeadlineMarch 31, 2024
Country to studyNigeria
TypeEntrepreneurs
SponsorLagos State Employment Trust Fund (LSETF)
State of OriginLagos
GenderMen and Women

Benefits of LSEFT Micro Enterprise Loan

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 LSEFT Micro Enterprise Loan

  • 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

Application Deadline

March 31, 2024

How to Apply

Interested and qualified? Go to Lagos State Employment Trust Fund (LSETF) on loans.lsetf.ng to apply

For more details, visit LSETF website

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