Are you seeking in Lagos and seeking funding for your business ? Now you can get a loan of up to Five Million Naira from the LSETF.
More than half of Nigeria’s entrepreneurs live and do business in Lagos . Funding is the biggest challenge they face. It is quite difficult securing loans at reasonable interest rates.
Enter The Lagos State Employment Trust Fund or LSETF. It aims to provide support for jobs, wealth creation and tackling unemployment. Twenty-five Billion Naira has been raised to help residents grow their enterprises.
While lack of capital is a major stumbling block, entrepreneurs can take loans from the LSETF. The interest rate is pegged at 5% per annum.
Small and medium enterprises, and micro enterprise start ups are eligible. Loans from Five hundred Thousand to Five Million Naira are accessible, and dependent on meeting set criteria.
Also, most noteworthy is the reduction in requirements to qualify to get a loan. Consequently all one needs is a Government and LASRRA ID, TIN, Company Certificate and notarized Guarantors forms. Micro Enterprise owners require even less. This is due to government’s desire to open this to everyone.
Lagos State deserves praise for this initiative. The process is devoid of bureaucracy. In addition it’s open to all. Finally I urge you to make the most of this and raise funding to grow your business!
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