Lagos State Employment Trust Fund 2023 Lagos Cares Grant for MSMEs | N100k up to N2.5M
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:
- RA1 – Focuses on Social Protection
- RA2 – Focuses on Agriculture and;
- RA3 – Focuses on Micro Small and Medium scale enterprises (MSMEs)
Table of Content
About Lagos State Employment Trust Fund (LSETF)
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, for job, wealth creation and to tackle unemployment.
The Fund will operate with an initial capital of N25Billion 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.
LSETF will focus on promoting entrepreneurship by improving access to finance, strengthenin... read more
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LSETF Credit Grant
Aim and Benefits of LSETF Credit Grant
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: Up to ? 1Million
- SMEs: Up to ? 1Million
Requirements for LSETF Credit Grant Qualification
MICRO ENTERPRISES
- BVN of Principal
- Company Registration where applicable
- Evidence of existing business operation.
- LASRRA
- Evidence of tax payment
- Evidence of Existing Loan from qualified Financial institutions
- Minimum of 3 staff
SMES
- BVN of Directors
- Company Registration
- Evidence of existing business operation.
- Evidence of Tax Payments
- LASRRA of Directors
- Evidence of Existing Loan from qualified Financial institutions
- Minimum of 10 staff
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Application Deadline
Not Specified
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LSETF Operations Grant
Aim and Benefits of LSETF Operations Grant
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: Up to ? 150,000
- SMEs: Up to ? 1Million
Requirements for LSETF Operations Grant Qualification
MICRO ENTERPRISES
- BVN of Principal
- Company Registration where applicable
- Evidence of existing business operation.
- LASRRA
- Evidence of tax payment
- Evidence of Operating Expense Obligations
- Staff Payee Receipts for the past 3 months
- Minimum of 3 staff
SMES
- BVN of Directors
- Company Registration
- Evidence of existing business operation.
- Evidence of Tax Payments
- LASRRA of Directors
- Evidence of Operating Expense Obligations
- Staff PAYE receipt as at Dec 2019 with payment schedule)
- Staff Payee Receipts for the past 3 months
- Minimum of 10 staff
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Application Deadline
Not Specified
Interested in this scholarship; Go down to apply
LSETF IT Enhancement Grant
Aim and Benefits of LSETF IT Enhancement Grant
IT Enhancement Grant: The IT Enhancement Grant offers financing to MSMEs to increase their capacity through the adoption of technology.
- Micro Enterprises: Up to ? 300,000 in hardware or software
- SMEs: Up to ? 1.5Million in hardware or software
Requirements for LSETF IT Enhancement Grant Qualification
MICRO ENTERPRISES
- BVN of Principal
- Company Registration where applicable
- Evidence of existing business operation.
- LASRRA
- Evidence of tax payment
- Minimum of 3 staff
SMEs
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Application Deadline
Not Specified
How to Apply
Interested and qualified? Go to
Lagos State Employment Trust Fund (LSETF) on apply.lsetf.ng to apply
If you have any complaints, kindly let us know here
For more details, visit LSETF website
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