The Lagos State Employment Trust Fund (LSETF) is inviting eligible business owners to apply for its MSME Loans Programme, which provides affordable financing to support the growth and expansion of businesses in Lagos State.
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The programme gives entrepreneurs access to business loans ranging from ₦50,000 up to ₦5,000,000 at an interest rate of 9% per annum. The loans are available without collateral, while applications are completed entirely online. The programme is open all year round, allowing interested applicants to apply at any time.
The LSETF Loan Programme is designed for small and medium-sized businesses that need funding to grow operations, expand their services, purchase equipment, or create more jobs. There are different loan tiers available to suit businesses at various stages of development.
What You’ll Gain
Successful applicants will receive the following benefits:
- Access to uncollateralized business loans from ₦50,000 up to ₦5,000,000.
- Competitive interest rate of 9% per annum, with 5% available for select LGA schemes.
- Flexible repayment period of 12 to 24 months, depending on the loan category.
- No collateral requirement, with only a 5% equity contribution of the loan amount.
- Access to LSETF’s wider business support programmes, including Lagos Innovates and Job Hubs.
- Improved financial credibility and business formalisation support.
Who Should Apply
The programme is open to:
- Entrepreneurs, sole traders, and SME owners who live and operate in Lagos State.
- Businesses that have been operating for at least one year. A start-up loan category is also available for newer businesses.
- Applicants with a LASSRA ID, LIRS Tax ID, BVN, and a valid government-issued identification.
- SME applicants with CAC registration and at least six months of corporate bank statements.
- Micro loan applicants with six months of personal bank statements and two passport photographs.
- Start-up loan applicants with a vocational training certificate from a Lagos State-recognised institution.
Applications are submitted completely online, and no physical submission is required.
A valid LASSRA ID is compulsory for all applicants. Businesses must also be registered and operating in Lagos State. SME applicants are required to have CAC registration and must have been operational for at least one year.
The programme operates on a rolling basis, meaning applications are open all year round. Interested applicants are encouraged to apply as early as possible.
How to Apply
Interested applicants are to visit the APPLICATION LINK via https://lsetf.ng/content/msme-loan-programme and complete the online application.
