Published: 08 Feb 2023 3,337 views
The Lagos COVID-19 Action Recovery and Economic Stimulus (CARES) Program is a state-level intervention that seeks to mitigate the local effects of the COVID-19 worldwide pandemic at the state-level, by protecting the livelihoods of existing and newly poor and vulnerable households and supporting the recovery of local economic activity especially among MSMEs.
The program consists of 3 Results Areas (RAs) as defined below:
Application Deadline | Not Specified |
Country to study | Nigeria |
Type | Entrepreneurs |
Sponsor | Lagos State Employment Trust Fund (LSETF) |
State of Origin | Lagos |
Gender | Men and Women |
Credit Grant: This provides credit grants to co-finance up to 40% of performing loans taken by businesses from June 2020 to date, from qualified financial institutions after the onset of the COVID-19 crisis.
MICRO ENTERPRISES
SMES
Application Deadline | Not Specified |
Country to study | Nigeria |
Type | Entrepreneurs |
Sponsor | Lagos State Employment Trust Fund (LSETF) |
State of Origin | Lagos |
Gender | Men and Women |
Operations Grant: This grant is to Support Operational Expenditure after the onset of Covid-19. This grant aims to incentivize MSEs to reach pre- COVID 19 level of employment. The grant would cover operational costs.
Operations grants for MSMEs that cover up to 50% of any verifiable/ documented monthly operational cost for 6 months including but not limited to staff salaries; documented utilities; documented private security expenses.
MICRO ENTERPRISES
SMES
Application Deadline | Not Specified |
Country to study | Nigeria |
Type | Entrepreneurs |
Sponsor | Lagos State Employment Trust Fund (LSETF) |
State of Origin | Lagos |
Gender | Men and Women |
IT Enhancement Grant: The IT Enhancement Grant offers financing to MSMEs to increase their capacity through the adoption of technology.
MICRO ENTERPRISES
SMEs
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For more details, visit LSETF website