The LSETF Loan Program and the TACT Loan Program both offer financial support to residents and businesses in Lagos State, aiming to stimulate economic growth and job creation. Here’s a breakdown of each program:
LSETF Loan Program:
- Objective: To provide affordable funding for small businesses to grow, expand, create wealth, and generate employment opportunities.
- Eligibility: Open to business owners who are registered residents of Lagos State.
- Loan Amount: Ranges from N50,000 to N500,000.
- Loan Tenor: 12 months with no moratorium.
- Equity: 5% of the loan size.
- Interest Rate: 9% per annum.
- Requirements: LASSRA ID, Tax ID (LIRS), valid government-issued identity card, Bank Verification Number (BVN), 2 passport photographs, 6 months bank statement, and the business must be in existence for at least one year.
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LSETF Micro Enterprise Start-Up Loan:
- Objective: To support micro-enterprise start-ups in Lagos State.
- Eligibility: Open to micro-enterprise start-ups in Lagos State.
- Loan Amount: Ranges from N50,000 to N250,000.
- Loan Tenor: 12 months.
- Equity: 5% of the loan size.
- Interest Rate: 9% per annum.
- Requirements: LASSRA ID, Tax ID (LIRS), valid government-issued identity card, BVN, 1 passport photograph, vocational training certificate from a Lagos State-recognized certifying body.
TACT Loan Program:
- Objective: Facilitated by Senator Mukhail Adetokunbo Abiru, aimed at residents and businesses in the Lagos East Senatorial District (Epe, Ibeju-Lekki, Ikorodu, Kosofe, or Somolu).
- Interest Rate: 6% per annum.
- Loan Categories:
- Nano Loans (N10,000 – N100,000)
- Micro Enterprise Start-Up Loans (N50,000 – N250,000)
- Micro Enterprise Loans (N50,000 – N500,000)
- Small & Medium Enterprise Loans (N500,000 – N1,000,000)
To learn more about the TACT Loan Program, you can visit the website provided: https://www.tokunboabiru.org/msme-1000.
For guidelines on applications and more information, you can refer to the respective links provided.
Click HERE to Apply
Click HERE for guidelines on Applications
Click HERE for More INFO
