The LSETF Loan Program aims to provide affordable access to funding for small businesses to grow, expand, create wealth, and generate employment opportunities.

LSETF
LSETF

This loan scheme offers a competitive 9% interest rate per annum and is available to business owners who are registered residents of Lagos State.

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Established by The Lagos State Employment Trust Fund Law 2016, the LSETF is designed to offer financial support to residents of Lagos State, addressing unemployment challenges through job creation and wealth generation.

The Fund operates with an initial capital of N25 billion contributed over four years by the Lagos State Government. Additionally, it seeks to raise additional funding from various sources, including donor partners, development agencies, corporate organizations, and individuals.

Categories

LSETF Micro Enterprise Loan (N50,000 – N500,000) per person

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

  • 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

LSETF Micro Enterprise Start-Up Loan (N50,000 – N250,000) per person

FEATURES

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

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

TACT LOAN

DO YOU RESIDE OR RUN A BUSINESS IN THE LAGOS EAST SENATORIAL DISTRICT (EPE, IBEJU-LEKKI, IKORODU, KOSOFE OR SOMOLU)? IF YOU DO, WE ARE PLEASED TO INFORM YOU THAT YOU CAN APPLY FOR THE TACT LOAN (FACILITATED BY SENATOR MUKHAIL ADETOKUNBO ABIRU) AND GET UP TO ONE MILLION NAIRA AT AN INTEREST RATE OF 6% PER ANNUM!

THE LOANS ARE IN FOUR CATEGORIES:

NANO LOANS (N10,000 – N100,000)

MICRO ENTERPRISE START-UP LOANS (N50,000 – N250,000)

MICRO ENTERPRISE LOANS (N50,000 – N500,000)

SMALL & MEDIUM ENTERPRISE LOANS (N500,000 – N1,000,000)

For Application Guidelines CLICK HERE

APPLY HERE

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