LSETF Micro Enterprise Start Up Loan (N50,000 – N250,000)
Introducing the LSETF Micro Enterprise Start Up Loan is a great mile stone by the government of Lagos state for business owners and entrepreneurs. This program is aimed at supporting businesses in the state with funds to boost their businesses. Kindly read through this post to get started.
This is inform business owners in Lagos state that an opportunity for them to access funds to support their businesses in the state is here through the LSETF Micro Enterprise Start Up loan. This post is going to show you everything you need to know about this loan offer by the Lagos state government.
The LSETF loan programme aims to create affordable access to funding for small businesses to grow, expand, create wealth and put people to work. The loan scheme, which attracts only 9% interest rate per annum, is available to all Micro Enterprise Start-Ups who are registered residents of Lagos state.
The LSETF Micro Enterprise Start Up loan is a loan product offered by the Lagos State Employment Trust Fund (LSETF) to support micro entrepreneurs and small business owners in Lagos State, Nigeria. The loan is designed to provide access to affordable financing for individuals and businesses looking to start or expand their operations.
The LSETF Micro Enterprise Start Up Loan offers several benefits to eligible applicants, including:
- Access to affordable financing: The loan provides access to funds at a competitive interest rate, making it easier for micro entrepreneurs and small business owners to obtain the capital they need to start or grow their businesses.
- Flexible repayment terms: The loan offers flexible repayment terms, allowing borrowers to structure their payments in a way that aligns with their cash flow and business needs.
- Business development support: In addition to providing financing, the LSETF also offers business development support services to loan recipients. These services include training, mentorship, and networking opportunities, helping entrepreneurs to build and grow their businesses successfully.
Requirements for LSETF Micro Enterprise Start Up Loan
To be eligible for the LSETF Micro Enterprise Start Up Loan, applicants must meet certain criteria, such as being a resident of Lagos State, having a viable business plan, and demonstrating the ability to repay the loan.
- LASSRA ID
- Tax ID (LIRS)
- Valid government issued means of identification
- Bank Verification Number
- 1 passport photograph
- Vocational training certificate from a Lagos state-recognised certifying body
The application process typically online at the LSETF Micro Enterprise Start Up loan portal at https://loans.lsetf.ng/ and it involves submitting a loan application form, providing relevant documentation, and undergoing a credit assessment.
The LSETF Micro Enterprise Start Up Loan has been instrumental in supporting micro entrepreneurs and small business owners in Lagos State. By providing access to affordable financing and business development support, the loan has helped numerous individuals and businesses to start and grow their operations, contributing to economic growth and job creation in the state.