How To Get Up To 5 MILLION Naira From Lagos State Government

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How to get up to 5 MILLION Naira from Lagos State Government


Small business owners and artisans are basking in the grace of the Lagos state government to grow and expand their businesses with the unbelievably low-interest rate at just 5% per annum accompanied by a long term repayment tenure for loans up to 5 MILLION NAIRA!

As a business owner, be it a start-up, small business, medium or large business in Lagos, you have this great opportunity to access business-friendly loans to run your business without even any collaterals. Accessing loans from the commercial banks has proven to be a dead end for business owners due to high interest rates, hidden charges, and demand for huge collaterals among many others. Simply put, accessing loan as a small business owner or artisan in Nigeria is extremely difficult.


However, Lagos state government through LSETF (Lagos State Employment Trust fund ) have made it easy for every business owner at different scales to have access to low interest loans with a long repayment period . One may think that the loan will only be accessible by those who know someone in government but LSETF have continually assured everyone applying for the loan that the loan isn’t given based on who you know but based on your legitimacy of the existence of your business and needs. So anyone with a business in Lagos is welcome to apply.

How to get up to 5 MILLION Naira from Lagos State Government.


LSETF reserves the authority to grant these loans upon successful applications or deny for other reasons when they see a red flag.


So how can you apply for the LSETF loan from Lagos state?

To apply for the LSETF MSME Loan programme, you need to know the category your business falls into because the loans you can access varies based on the category or level of your business. So also does the requirements when you are applying. Let’s check the categories and their requirements:

1.       Micro Enterprise Start-Up – Loans of up to N250,000 per person:


To apply for this loan you must have relevant training certificates and reside in Lagos, have a LASRRA ID, have a Federal Government issued ID card and have a person to guarantee your loan. This loan is meant for entrepreneurs who are just starting out.

2.       Micro Enterprise Owners – Loans of up to N500,000 per person:


For this loan you must have your personal tax registration details and also reside in Lagos, have a LASRRA ID, have a Federal Government issued ID card and have a person to guarantee your loan. This loan is ideal for people who want to grow their existing micro business.

3.       Small and Medium Enterprise Owners – Loans of up to N5,000,000 per business:


You are required to have a registered company, with CAC and personal tax registration details, Reside in Lagos, have a LASRRA ID, have a Federal Government issued ID card and two people to guarantee your loan and will hire new employees. This is the loan with the highest amount and it is given to established small enterprises to expand their business.

On a final note, knowing how to get loans and funding for your business is really important. So I recommend you to reads this book "Funding for your start-up and loans for your business" by L.C. Green, Jnr. You can get the audio version of the book here to for FREE. Click this link to get the free version of the audiobook: http://tidd.ly/248f835b

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