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

Published: 23 Feb 2024

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 Start Up Loan

Application Deadline	March 31, 2024
Country to study	Nigeria
Type	Entrepreneurs
Sponsor	Lagos State Employment Trust Fund (LSETF)
State of Origin	Lagos
Gender	Men and Women

Benefits of LSEFT Micro Enterprise Start Up Loan

• 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 for LSEFT Micro Enterprise Start Up Loan

• 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

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

Small and Medium Size Enterprise Loan scholarship by LSEFT