Lagos State loans for micro enterprises (₦50,000 to ₦500,000), start-ups (₦50,000 to ₦250,000) and small and medium businesses (₦500,000 to ₦5,000,000), with a 5% equity contribution. Lower-rate schemes exist for Ojo LGA and Onigbongbo LCDA. Apply online through the LSETF page.
Loan · Intervention fund · Up to ₦5,000,000 per business
Lagos State Employment Trust Fund (LSETF)
Lagos
Maximum per business
₦5,000,000
Interest rate
9% a year (5% for Ojo LGA and Onigbongbo LCDA schemes)
Tenor
12 months (micro and start-up); 24 to 36 months (SME)
Where
Lagos
Business owners operating and resident in Lagos State. Micro and SME loans need at least one year of operation (SMEs also need CAC registration). All applicants need LASSRA ID, LIRS tax ID, a government ID and BVN.
