Lagos State Employment Trust Fund 2023 Lagos Cares Grant for MSMEs | N100k up to N2.5M

Published: 08 Feb 2023

The Lagos COVID-19 Action Recovery and Economic Stimulus (CARES) Program is a state-level intervention that seeks to mitigate the local effects of the COVID-19 worldwide pandemic at the state-level, by protecting the livelihoods of existing and newly poor and vulnerable households and supporting the recovery of local economic activity especially among MSMEs.

The program consists of 3 Results Areas (RAs) as defined below:

• RA1 – Focuses on Social Protection
• RA2 – Focuses on Agriculture and;
• RA3 – Focuses on Micro Small and Medium scale enterprises (MSMEs)

• Credit Grant
• Operations Grant
• IT Enhancement Grant

LSETF Credit Grant

Application Deadline	Not Specified
Country to study	Nigeria
Type	Entrepreneurs
Sponsor	Lagos State Employment Trust Fund (LSETF)
State of Origin	Lagos
Gender	Men and Women

Benefits of LSETF Credit Grant

Credit Grant: This provides credit grants to co-finance up to 40% of performing loans taken by businesses from June 2020 to date, from qualified financial institutions after the onset of the COVID-19 crisis.

• Micro Enterprises: Up to ? 1Million
• SMEs: Up to ? 1Million

Requirements for LSETF Credit Grant

MICRO ENTERPRISES

• BVN of Principal
• Company Registration where applicable
• Evidence of existing business operation.
• LASRRA
• Evidence of tax payment
• Evidence of Existing Loan from qualified Financial institutions
• Minimum of 3 staff

SMES

• BVN of Directors
• Company Registration
• Evidence of existing business operation.
• Evidence of Tax Payments
• LASRRA of Directors
• Evidence of Existing Loan from qualified Financial institutions
• Minimum of 10 staff

Application Deadline

Not SpecifiedInterested in this scholarship; Go down to apply

LSETF Operations Grant

Application Deadline	Not Specified
Country to study	Nigeria
Type	Entrepreneurs
Sponsor	Lagos State Employment Trust Fund (LSETF)
State of Origin	Lagos
Gender	Men and Women

Benefits of LSETF Operations Grant

Operations Grant: This grant is to Support Operational Expenditure after the onset of Covid-19. This grant aims to incentivize MSEs to reach pre- COVID 19 level of employment. The grant would cover operational costs.

Operations grants for MSMEs that cover up to 50% of any verifiable/ documented monthly operational cost for 6 months including but not limited to staff salaries; documented utilities; documented private security expenses.

• Micro Enterprises: Up to     ? 150,000
• SMEs: Up to ? 1Million

Requirements for LSETF Operations Grant

MICRO ENTERPRISES

• BVN of Principal
• Company Registration where applicable
• Evidence of existing business operation.
• LASRRA
• Evidence of tax payment
• Evidence of Operating Expense Obligations
• Staff Payee Receipts for the past 3 months
• Minimum of 3 staff

SMES

• BVN of Directors
• Company Registration
• Evidence of existing business operation.
• Evidence of Tax Payments
• LASRRA of Directors
• Evidence of Operating Expense Obligations
• Staff PAYE receipt as at Dec 2019 with payment schedule)
• Staff Payee Receipts for the past 3 months
• Minimum of 10 staff

Application Deadline

Not SpecifiedInterested in this scholarship; Go down to apply

LSETF IT Enhancement Grant

Application Deadline	Not Specified
Country to study	Nigeria
Type	Entrepreneurs
Sponsor	Lagos State Employment Trust Fund (LSETF)
State of Origin	Lagos
Gender	Men and Women

Benefits of LSETF IT Enhancement Grant

IT Enhancement Grant: The IT Enhancement Grant offers financing to MSMEs to increase their capacity through the adoption of technology.

• Micro Enterprises: Up to     ? 300,000 in hardware or software
• SMEs: Up to ? 1.5Million in hardware or software

Requirements for LSETF IT Enhancement Grant

MICRO ENTERPRISES

• BVN of Principal
• Company Registration where applicable
• Evidence of existing business operation.
• LASRRA
• Evidence of tax payment
• Minimum of 3 staff

SMEs

• Minimum of 10 staff

Application Deadline

Not Specified

How to Apply

Interested and qualified? Go to Lagos State Employment Trust Fund (LSETF) on apply.lsetf.ng to apply