The Lagos MSME Recovery Fund 2.0, powered by the Lagos State Employment Trust Fund (LSETF), is a grant scheme to support MSMEs in Lagos to recover from the harsh economic environment due to the Covid-19 pandemic.
The Lagos State Employment Trust Fund (LSETF) was established by The Lagos State Employment Trust Fund Law 2016 to provide financial support to residents of Lagos State for jobs, wealth creation, and tackling unemployment.
The Fund will operate with an initial capital of N25Billion contributed over four years by the Lagos State Government, but will also raise additional funding from various sources, including donor partners, development agencies, corporate organizations and individuals.
LSETF will focus on promoting entrepreneurship by improving access to finance, strengthening the institutional capacity of MSMEs and formulating policies designed to improve the business environment in Lagos State. In addition, the Fund will also develop programmes designed to train and place unemployed Lagos residents in jobs; while also focusing on programmes designed to drive innovation within the Lagos ecosystem.
See also: Founders First Challenge Program.
Who Can Apply For The Lagos MSME Recovery Fund 2.0
- Are you a small business owner in Lagos state struggling to keep your business afloat?
- Has it been quite hard to restock your business due to lack of funds?
- Are you having difficulty in paying back loans you took to boost your business?
- Are you considering closing down your business because you can’t pay rent or staff salaries?
If you fall into any of the above categories, the Lagos MSME Recovery Fund 2.0 is for you. The recovery fund is meant to support small business owners in surmounting the challenges posed by the harsh economic environment post-Covid-19 lockdown.
Benefits Of The Lagos MSME Recovery Fund 2.0
You will have the opportunity to obtain a loan for your business.
How To Apply
To apply for this grant, click on this link.
Please ensure that you receive an email notification when you submit your application or re-apply if you didn’t.