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LSETF MSME Loan Program (N50,000 – N500,000 per person)

The LSETF Loan Program and the TACT Loan Program both offer financial support to residents and businesses in Lagos State, aiming to stimulate economic growth and job creation. Here’s a breakdown of each program:

LSETF Loan Program:

  • Objective: To provide affordable funding for small businesses to grow, expand, create wealth, and generate employment opportunities.
  • Eligibility: Open to business owners who are registered residents of Lagos State.
  • Loan Amount: Ranges from N50,000 to N500,000.
  • Loan Tenor: 12 months with no moratorium.
  • Equity: 5% of the loan size.
  • Interest Rate: 9% per annum.
  • Requirements: LASSRA ID, Tax ID (LIRS), valid government-issued identity card, Bank Verification Number (BVN), 2 passport photographs, 6 months bank statement, and the business must be in existence for at least one year.

Read Also: African Development Bank Group (AfDB) Recruitment (Job Vacancies)

LSETF Micro Enterprise Start-Up Loan:

  • Objective: To support micro-enterprise start-ups in Lagos State.
  • Eligibility: Open to micro-enterprise start-ups in Lagos State.
  • Loan Amount: Ranges from N50,000 to N250,000.
  • Loan Tenor: 12 months.
  • Equity: 5% of the loan size.
  • Interest Rate: 9% per annum.
  • Requirements: LASSRA ID, Tax ID (LIRS), valid government-issued identity card, BVN, 1 passport photograph, vocational training certificate from a Lagos State-recognized certifying body.

TACT Loan Program:

  • Objective: Facilitated by Senator Mukhail Adetokunbo Abiru, aimed at residents and businesses in the Lagos East Senatorial District (Epe, Ibeju-Lekki, Ikorodu, Kosofe, or Somolu).
  • Interest Rate: 6% per annum.
  • Loan 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)

To learn more about the TACT Loan Program, you can visit the website provided: https://www.tokunboabiru.org/msme-1000.

For guidelines on applications and more information, you can refer to the respective links provided.

Click HERE to Apply

Click HERE for guidelines on Applications

Click HERE for More INFO

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