LSETF
The Lagos State Employment Trust Fund (LSETF) is a N25 billion fund set aside by Lagos State government to support operators of MSMEs resident in the state. Under the scheme, MSMEs can access loans between N250,000 and N5 million at an interest rate of five percent per annum, with a tenor ranging from one to three years.
The requirements to access the fund include: government issued ID and LASSRA card as evidence that they reside in Lagos, evidence of tax payment or registration details, evidence of trading certificate, proof of company registration, bank statement for a period of up to six months, and one or two guarantors.
[…] Finding this capital is becoming harder for a significant proportion of small businesses despite the wider variety of financing options available. […]