Lagos State Employment Trust Fund MSME Loan Program For Entrepreneurs 2024

The Lagos State Employment Trust Fund (LSETF) stands as a beacon of hope to ignite the creative and innovative spirits of Lagos residents while combating unemployment in the State. With a significant investment of N25 billion, the Fund is dedicated to empowering Lagosians to grow their Micro, Small, and Medium Enterprises (MSMEs) or enhance their skills to secure better employment opportunities.

One of the flagship programs offered by LSETF is the Loan Programme, designed to provide accessible funding for small businesses to expand, create wealth, and generate employment opportunities. This initiative features a low 9% interest rate per annum and is open to business owners who are registered residents of Lagos State. The Fund aims to create 300,000 direct jobs and 600,000 indirect jobs within three years by supporting at least 100,000 MSMEs, leveraging its partners’ expertise and capabilities to achieve these ambitious goals.

For entrepreneurs looking to benefit from the LSETF Micro Enterprise Loan, the maximum loan amount is N500,000 with a 12-month tenor and a 5% equity requirement. To qualify, applicants must meet specific criteria, including possessing essential documents such as LASSRA ID, Tax ID, and a valid government-issued identity card. The application deadline for this opportunity is March 31, 2024. Interested individuals can visit the Lagos State Employment Trust Fund (LSETF) website at loans.lsetf.ng to apply and take a step towards realizing their entrepreneurial dreams.