Apply for the Lagos State 25Bn Naira loan for MSMEs

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The Lagos State Government through the Lagos State Employment Trust Fund (LSETF) has committed 25 billion Naira to the funding of 1,000  Micro, Small, and Medium Enterprises owned by residents of Lagos state.

The fund will be disbursed according to the size of the applicants’ businesses where micro enterprises can access a maximum loan of five hundred thousand naira while small and medium businesses get a maximum of five million naira with a 5% interest rate per annum for 3 years. According to a statement on its site, the loan is a first-come-first-served opportunity which closes once the 1000 MSMEs target is reached.

The LSETF was founded by the Lagos state government with the aim of providing financial support to residents of the state , for job and wealth creation in order to tackle the problems of  unemployment and provide equal opportunities to all citizens irrespective of social standing.

To access the loan, interested applicants must be able to present tax identification and a permit from the Lagos State Resident Registration Agency (LASRRA) as proof that such persons are bona fide residents of the state.

LSETF1

Interested applicants are advised to strictly adhere to the following:

Hurry as application officially closes  12 Jan, 2017

Follow @LSETF on Facebook, Instagram and Twitter

Read  guidelines and download application forms 

 

For more information, go here

happywheels

I'm interested in stories, news and opportunities for African entrepreneurs. Be it tech, fashion, SMEs; breaking entrepreneurship stories is the next best thing that can happen to me, after Jollof

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