Lagos Businesses Rejoice: LSETF Opens Applications for Affordable MSME Loans!
Calling all small business owners in Lagos State! The Lagos State Employment Trust Fund (LSETF) is offering its highly sought-after MSME Loan Program, providing accessible financing to help your business grow, expand, and create jobs. Here’s what you need to know:
Affordable loans, accessible terms:
- Interest rates: As low as 6% per annum for TACT loans, 9% for other categories.
- Maximum loan amounts: Up to N1 million for TACT loans, N500,000 for regular loans.
- Loan terms: Flexible repayment options with 12-month tenors.
- Minimum requirements: Registered Lagos resident, valid ID, business operation proof, tax clearance.
Who can apply?
- Registered business owners residing in Lagos State.
- Existing micro-enterprises (operating for at least 1 year).
- New micro-enterprise startups.
- Businesses operating in the Lagos East Senatorial District (for TACT loans).
Program categories:
- LSETF Micro Enterprise Loan: N50,000 – N500,000 for existing businesses.
- LSETF Micro Enterprise Start-Up Loan: N50,000 – N250,000 for new startups (requires vocational training certificate).
- TACT Loan: N10,000 – N1,000,000 for businesses in Lagos East Senatorial District (lower interest rates).
Benefits of the program:
- Inject vital capital into your business.
- Expand operations and reach new customers.
- Create jobs and contribute to Lagos’ economic growth.
- Gain access to mentorship and business support services.
Ready to apply?
Don’t miss out on this incredible opportunity! Applications are now open. Here’s how to get started:
- Visit the LSETF website: https://loans.lsetf.ng/
- Review the program guidelines: https://www.youtube.com/watch?v=zN0Q-s9nn-Q&feature=youtu.be
- For TACT loans in Lagos East Senatorial District: https://www.tokunboabiru.org/msme-1000
- Start your application online: https://loans.lsetf.ng/
Additional points to consider:
- Encourage early applications as funds are limited.
- Share this information with potential applicants in your network.
- Highlight the program’s impact on job creation and economic development.
By providing affordable financing and support, the LSETF MSME Loan Program plays a crucial role in empowering Lagos businesses and fostering a vibrant entrepreneurial ecosystem.
Consider applying today and take your business to the next level!
ABOUT LSETF
The Lagos State Employment Trust Fund (LSETF) was set up under The Lagos State Employment Trust Fund Law 2016. Its goal is to offer financial aid to people living in Lagos State to combat unemployment by creating jobs and generating wealth.
The fund starts with a base capital of N25 Billion provided over four years by the Lagos State Government. It will also seek extra funds from different places, including donor partners, development groups, businesses, and private individuals.