How to Apply For LSETF Loan 2023 – Eligibility & Features
LSETF loan – Established in 2016, the Lagos State Employment Trust Fund (LSETF) primary objective is to offer financial assistance to the residents of Lagos State, aiming to combat unemployment by fostering job opportunities and wealth creation.
With an initial capital of N25 billion, contributed over a span of four years by the Lagos State Government, the Fund will also seek additional funding from diverse sources. These sources include donor partners, development agencies, corporate organizations, and individuals, thereby expanding its financial resources to further its mission.
Advertisements
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 business owners who are registered residents of Lagos State.
Available LSETF Loans Eligibility and Application
There are about 8 classes of the LSETF loans. Each of these classes/categories have different application and eligibility requirements. A breakdown of all the available classes are as follows;
Advertisements
LSETF Micro Enterprise Loan (N50,000 – N500,000) per person
FEATURES
- 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
REQUIREMENTS
Advertisements
- LASSRA ID
- Tax ID (LIRS)
- Valid Government Issued Identity Card
- Bank Verification Number
- 2 Passport Photographs
- 6 Months Bank Statement
- Business Must Be In Existence For At Least One Year
LSETF Micro Enterprise Start Up Loan (N50,000 – N250,000) per person
FEATURES
- Available To All Micro Enterprise Start-Ups In Lagos State
- Maximum Loan Amount =N=250,000
- Tenor = 12-15 Months (Including 3 Months Moratorium)
- Equity = 5% Of Loan Size
- Interest Rate = 9% Per Annum
REQUIREMENTS
Advertisements
- LASSRA ID
- TAX ID (LIRS)
- Valid Government Issued Identity Card
- Bank Verification Number
- 2 Passport Photographs
- Vocational Certificate From A Lagos State Recognised Certifying Body
LSETF Small and Medium Size Enterprise Loan (N500,000 – N5,000,000) per business
FEATURES
- 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
REQUIREMENTS
Advertisements
- 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
LSETF/FIRST-EDU LOAN (500,000-5,000,000) per school
FEATURES
- Available To Schools Operating In Lagos State
- Maximum Loan Size =N=5m
- Tenor = 12 – 24 Months
- Equity = 5% Of Loan Size
- Interest Rate = 9% Per Annum
REQUIREMENTS
Advertisements
- LASSRA ID
- TAX ID (LIRS)
- Valid Government Issued Identity Card
- Tin Number (Firs Tax Identification Number)
- Valid Cac Documents
- Minimum Of 100 Students Enrolled
- Bank Verification Number
- 2 Passport Photographs
- 12 Months Corporate Bank Statement
- School Or Training Institute Must Be Registered With The Cac And Operational For At Least 1year.
LSETF/EDFIN EDU LOAN (500,000-5,000,000) per school
FEATURES
- Available To Schools Operating In Lagos State
- Maximum Loan Size =N=5m
- Tenor = 12 – 30 Months
- Equity = 5% Of Loan Size And 10% Of Asset Finance.
- Interest Rate = 9% Per Annum
REQUIREMENTS
- LASSRA ID
- TAX ID (LIRS)
- Valid Government Issued Identity Card
- Tin Number (Firs Tax Identification Number)
- Valid Cac Documents
- Minimum Of 50 Students Enrolled
- Bank Verification Number
- 2 Passport Photographs
LEAP Tourism Loans
FEATURES
Advertisements
- Available To All Businesses In The Tourism And Hospitality Sector Operating In Lagos State And Registered Under The Ministry Of Tourism
- Maximum Loan Size =N=5m
- Tenor = 12 – 24 Months
- Equity = 5% Of Loan Size
- Interest Rate = 5% Per Annum
REQUIREMENTS
- LASRRA ID
- TAX ID (LIRS)
- Valid Government-Issued Identity Card
- Tin Number (Firs Tax Identification Number)
- Valid Cac Documents
- Business Must Be Registered Under The Ministry Of Tourism
- Bank Verification Number
- 2 Passport Photographs
- 12 Months Corporate Bank Statement
Also Read:
- Lagos State Government Recruitment – jobs.lagosstate.gov.ng
- Lagos State Government Teachers Recruitment
- Nigerian Airforce Recruitment 2023 – nafrecruitment.airforce.mil.ng
LSETF/Access Bank Micro Enterprise Start Up Loan (50,000 – 250,000)
FEATURES
- Available To Female Micro Enterprise Start-Ups In Lagos State
- Maximum Loan Amount =N=250,000
- Tenor = 12 Months (Including 3 Months Moratorium)
- Equity = 5% Of Loan Size
- Interest Rate = 10% Per Annum
REQUIREMENTS
Advertisements
- LASSRA ID
- TAX ID (LIRS)
- Valid Government Issued Identity Card
- Bank Verification Number
- 2 Passport Photographs
- Vocational Certificate From A Lagos State Recognised Certifying Body
LSETF/Access Bank Micro Enterprise Loan (50,000-500,000)
FEATURES
- Available To All Female 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 = 10% Per Annum
REQUIREMENTS
- LASSRA ID
- TAX ID (LIRS)
- Valid Government Issued Identity Card
- Bank Verification Number
- 2 Passport Photographs
- 6 Months Bank Statement
- Business Must Be In Existence For At Least One Year
LSETF/Access Bank Small And Medium Enterprise Loan (500,000-5,000,000)
FEATURES
- Available To All Female Business Owners Operating And Resident In Lagos State
- Maximum Loan Size =N=5m
- Tenor = Up To 24 Months
- Equity = 5% Of Loan Size
- Interest Rate = 10% Per Annum
REQUIREMENTS
- LASSRA ID
- TAX ID (LIRS)
- Valid Government-Issued Identity Card
- Tin Number (Firs Tax Identification Number)
- Valid Cac Documents
- Bank Verification Number
- 2 Passport Photographs
- 12 Months Corporate Bank Statement
- Business Must Be Registered With Cac And Operational For At Least A Year
LSETF Artisan’s Loan
FEATURES
- Available To All Artisan’s In Lagos State
- Maximum Loan Amount =N=500,000
- Tenor = 12-15 Months (Including 3 Months Moratorium)
- Equity = 5% Of Loan Size
- Interest Rate = 9% Per Annum
REQUIREMENTS
- LASSRA ID
- TAX ID (LIRS)
- Valid Government Issued Identity Card
- Bank Verification Number
- 2 Passport Photographs
- Vocational Certificate From A Lagos State Recognised Certifying Body
How to Apply for LSETF Loan
To apply for the LSETF Loan ;
- Visit lsetf.ng
- Click on loans
- Search for your preferred loan option
- Supply the necessary details
- Click on Apply
Advertisements
