The Lagos State Employment Trust Fund (LSETF) is inviting eligible entrepreneurs to apply for its MSME Loan Programme, an initiative designed to provide affordable financing to help businesses in Lagos State grow, expand operations, create jobs, and increase productivity.
The programme offers business loans ranging from ₦50,000 to ₦5,000,000 with interest rates as low as 5% to 9% per annum, depending on the loan category.
Applications are completed entirely online, and the programme remains open throughout the year, allowing eligible business owners to apply at their convenience.
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About the LSETF MSME Loan Programme
The Lagos State Employment Trust Fund (LSETF) was established to improve access to finance for Micro, Small and Medium Enterprises (MSMEs) operating within Lagos State.
Many businesses struggle to expand due to limited access to affordable funding. Through the MSME Loan Programme, LSETF provides low-interest loans that enable entrepreneurs to purchase equipment, increase production, expand their services, strengthen working capital, and create employment opportunities.
The programme caters to businesses at different stages, including startups, micro enterprises, and established small and medium-sized businesses.
Loan Categories Available
LSETF offers several loan products to meet the varying needs of entrepreneurs across Lagos State.
1. LSETF Micro Enterprise Loan
This loan is suitable for existing micro businesses seeking additional capital to expand their operations.
Loan Features
- Loan Amount: ₦50,000 – ₦500,000
- Interest Rate: 9% per annum
- Loan Tenor: 12 months
- Moratorium: None
- Equity Contribution: 5% of the approved loan amount
Eligibility Requirements
Applicants must provide:
- LASSRA ID.
- Lagos State Internal Revenue Service (LIRS) Tax ID.
- Valid government-issued ID.
- Bank Verification Number (BVN).
- Two recent passport photographs.
- Six months’ bank statement.
- Business must have been operating for at least one year.
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2. LSETF Micro Enterprise Start-Up Loan
This category is specifically designed for new entrepreneurs and startup businesses.
Loan Features
- Loan Amount: ₦50,000 – ₦250,000
- Interest Rate: 9% per annum
- Loan Tenor: 12 months
- Equity Contribution: 5% of the approved loan amount
Eligibility Requirements
Applicants must have:
- LASSRA ID.
- LIRS Tax ID.
- Valid government-issued ID.
- BVN.
- One passport photograph.
- Vocational Training Certificate issued by a Lagos State-recognized certifying institution.
3. LSETF Small and Medium Enterprise (SME) Loan
This loan is intended for established businesses seeking larger funding for expansion and operational growth.
Loan Features
- Loan Amount: ₦500,000 – ₦5,000,000
- Interest Rate: 9% per annum
- Loan Tenor: 24–36 months
- Equity Contribution: 5% of the approved loan amount
Eligibility Requirements
Applicants must provide:
- LASSRA ID.
- LIRS Tax ID.
- Valid government-issued ID.
- CAC Registration Documents.
- BVN.
- Two passport photographs.
- Six months’ corporate bank statement.
- Business must be CAC-registered and operational for at least one year.
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4. Ojo Local Government Micro Enterprise (ME) Loan Scheme
This special loan scheme supports eligible business owners residing and operating within Lagos State.
Loan Features
- Loan Amount: ₦50,000 – ₦200,000
- Interest Rate: 5% per annum
- Loan Tenor: 12 months
- Moratorium: None
- Equity Contribution: 5%
Requirements
Applicants must provide:
- LASSRA ID.
- LIRS Tax ID.
- Valid government-issued ID.
- BVN.
- Two passport photographs.
- Six months’ bank statement.
- Business must have operated for at least one year.
5. Onigbongbo LCDA Micro Enterprise (ME) Loan Scheme
This scheme provides affordable financing for qualifying businesses.
Loan Features
- Loan Amount: ₦50,000 – ₦200,000
- Interest Rate: 5% per annum
- Loan Tenor: 12 months
- Equity Contribution: 5%
Requirements
Applicants must provide:
- LASSRA ID.
- LIRS Tax ID.
- Valid government-issued ID.
- BVN
- Two passport photographs.
- Six months’ bank statement.
- Business must have operated for at least one year.
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6. Ojo Local Government Micro Enterprise Start-Up (MES) Loan Scheme
This loan category targets startup businesses.
Loan Features
- Loan Amount: ₦50,000 – ₦100,000
- Interest Rate: 5% per annum
- Loan Tenor: 12 months
- Equity Contribution: 5%
Requirements
Applicants must provide:
- LASSRA ID.
- LIRS Tax ID.
- Valid government-issued ID.
- BVN.
- One passport photograph.
- Vocational Training Certificate from a Lagos State-recognized institution.
7. Onigbongbo LCDA Micro Enterprise Start-Up (MES) Loan Scheme
This programme supports entrepreneurs who are just starting their businesses.
Loan Features
- Loan Amount: ₦50,000 – ₦100,000
- Interest Rate: 5% per annum
- Loan Tenor: 12 months
- Equity Contribution: 5%
Requirements
Applicants must provide:
- LASSRA ID.
- LIRS Tax ID.
- Valid government-issued ID.
- BVN.
- One passport photograph.
- Vocational Training Certificate from a Lagos State-recognized certifying body.
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Benefits of the Lagos State Employment Trust Fund (LSETF) MSME Loan Programme 2026
The programme is designed to make financing more accessible to entrepreneurs while encouraging business growth and job creation.
Successful applicants may benefit from:
- Access to loans ranging from ₦50,000 to ₦5 million.
- Affordable interest rates of 5% or 9% per annum, depending on the loan category.
- Fully online application process.
- Funding to expand business operations.
- Opportunity to purchase equipment and improve productivity.
- Support for job creation and business sustainability.
- Year-round application window with no fixed deadline.
Application Deadline
Not Specified
How to Apply for Lagos State Employment Trust Fund (LSETF) MSME Loan Programme 2026
Eligible entrepreneurs should submit their applications through the official LSETF MSME Loan portal.
Step 1: Visit the official LSETF MSME Loan Programme portal
Step 2: Select the loan category that best suits your business.
Step 3: Review the eligibility requirements and prepare the required documents.
Step 4: Complete the online application form accurately.
Step 5: Upload all required supporting documents.
Step 6: Submit your application and await further communication from LSETF.
The programme accepts applications throughout the year. Eligible entrepreneurs are encouraged to apply early to begin the review process.
Applicants must be registered residents of Lagos State and ensure that all submitted information and supporting documents are accurate and valid. Meeting the eligibility requirements does not automatically guarantee loan approval, as applications are subject to LSETF’s assessment and verification process.
You can also check out more opportunities you are eligible to apply for on the Federal Government Initiative Category, Latest Grant Collection Category, and Job and Career Opportunity Desk.
