LSETF MSME Loan Programme Application

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The Lagos State Employment Trust Fund (LSETF) has launched an application portal for its Micro, Small, and Medium Enterprises (MSME) loan program, offering business owners the opportunity to access up to N5 million to scale their operations.

In a statement released on Monday, LSETF announced the opening of the loan portal, inviting entrepreneurs to apply for funding to fuel their business growth in 2024. The loan program is designed to support businesses in achieving various goals, including scaling operations, expanding to new markets, or launching new products.

The LSETF MSME 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 business owners who are registered residents of Lagos State.

The MSME loan program is divided into three categories: Micro Enterprise Startup (MES) Loan, Micro Enterprise (ME) Loan, and Small & Medium Enterprise (SME) Loan.

LSETF Micro Enterprise Start Up Loan (N50,000 – N250,000) per person

Features and Requirement

Available to all micro enterprise start-ups in Lagos state
Maximum loan amount =N=250,000
Loan tenor = 12 months (no moratorium)
Equity = 5% of loan size
Interest rate = 9% per annum
LASSRA ID
Tax ID (LIRS)
Valid government issued identity card
Bank verification number
1 passport photograph
Vocational training certificate from a Lagos state-recognized certifying body

LSETF Micro Enterprise Loan (N50,000 – N500,000) per person

Features and Requirement

Available to all business owners operating and resident in Lagos state.
Maximum loan amount =N=500,000
Loan tenor = 12 months (no moratorium)
Equity = 5% of loan size
Interest rate = 9% per annum
LASSRA ID
Tax ID (LIRS)
Valid government issued identity card
Bank verification number
2 passport photograph
6 months bank statement
Business must be in existence for at least one year.

LSETF Small and Medium Size Enterprise Loan (N500,000 – N5,000,000) per Business

Features and Requirement

Available to all small and medium size business owners operating and resident in Lagos state.
Maximum loan size =N=5M
Tenor = 24 – 36 months
Equity = 5% of loan size
Interest rate = 9% per annum
LASSRA ID
Tax ID (LIRS)
Valid government issued identity card
TIN number (FIRS tax identification number)
Valid CAC documents
Bank verification number
2 passports
12 months corporate bank statement
Business must be registered with CAC and operational for at least a year.

TACT LOAN

Do you reside or run a business in the Lagos east senatorial district (Epe, Ibeju-Lekki, Ikorodu, Kosofe or Somolu)? If you do, we are pleased to inform you that you can apply for the tact loan (facilitated by senator mukhail adetokunbo abiru) and get up to one million naira at an interest rate of 6% per annum!

The TACT loans are in four 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)

How to Apply for LSETF MSME Loan?

Click Here to Apply

Click Here and watch this video for more direction during application.

To learn more about the TACT loan program, visit https://www.tokunboabiru.org/msme-1000

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