LSETF opens MSME Loans Programme for Lagos businesses: ₦50,000–₦5,000,000, 9% p.a., no collateral, online application, 12–24 months repayment.
LSETF opens MSME Loans Programme for Lagos businesses: ₦50,000–₦5,000,000, 9% p.a., no collateral, online application, 12–24 months repayment.
The Lagos State Employment Trust Fund (LSETF) is accepting online applications for MSME loans in Lagos up to ₦5,000,000 with no collateral and flexible repayment.
The Lagos State Employment Trust Fund (LSETF) is inviting eligible entrepreneurs to apply for its MSME Loans Programme 2026, offering affordable business financing to support growth, expansion, equipment purchase, and job creation across Lagos State.
The programme provides uncollateralized loans from ₦50,000 to ₦5,000,000, with an interest rate of 9% per annum (and 5% per annum for select LGA schemes). Applications are completed entirely online, and the programme is open all year round.
Loan Amount, Interest Rate, and Tenor
- Loan range: ₦50,000 – ₦5,000,000
- Interest rate: 9% per annum (or 5% for select LGA schemes)
- Repayment period: 12–24 months (depending on category)
- Collateral: Not required
- Equity contribution: 5% of the loan amount
What You’ll Gain (Benefits)
Successful applicants may receive:
- Access to uncollateralized MSME loans (₦50k to ₦5m)
- Affordable interest at 9% per annum (5% for select LGA schemes)
- Flexible repayment (12–24 months)
- Opportunity to benefit from LSETF business support initiatives (e.g., Lagos Innovates and Job Hubs)
- Improved business credibility and support toward business formalisation
Who Should Apply (Eligibility)
The programme is open to:
- Entrepreneurs, sole traders, and SME owners who live and operate in Lagos State
- Businesses operating for at least one year (a start-up category is also available)
- Applicants with:
- LASSRA ID (compulsory)
- LIRS Tax ID
- BVN
- Valid government-issued ID
Document requirements by category
- SME applicants: CAC registration + at least 6 months corporate bank statements
- Micro loan applicants: 6 months personal bank statements + two passport photographs
- Start-up loan applicants: vocational training certificate from a Lagos State-recognised institution
Note: Applications are online only—no physical submission is required. Businesses must be registered and operating in Lagos State, and LASSRA ID is mandatory.
Application Window
This programme runs on a rolling basis, meaning applications are open throughout the year. Applicants are encouraged to apply early.
How to Apply (Official Link)
Apply online via the LSETF MSME Loan page:
https://lsetf.ng/content/msme-loan-programme
Quick FAQs
Is the LSETF MSME loan collateral-free?
Yes. The programme states the loans are available without collateral (but require a 5% equity contribution).
How much can I borrow from LSETF MSME Loans Programme?
Eligible businesses can access ₦50,000 up to ₦5,000,000, depending on the loan tier/category.
What is the interest rate for LSETF MSME loans?
9% per annum, with 5% per annum available for select LGA schemes.
Do I need LASSRA to apply?
Yes. A valid LASSRA ID is compulsory for all applicants.
Is the application online or physical?
The application is completed entirely online; no physical submission is required.
