Lagos State ₦25 Billion SME Grants & Loans: How to Access Your Share
1. Content
Introduction
Good news for Lagos entrepreneurs! 🚀 The Lagos State Government has launched a ₦25 billion SME grants and loans fund to support small businesses, startups, and innovators. If you’ve been struggling with capital, this could be your ticket to expansion. Let’s break down how to access your share.
Quick Facts Box
ItemDetailsProgramLagos State ₦25 Billion SME Grants & LoansAgencyLagos State Employment Trust Fund (LSETF)Funding Size₦25 billion (grants + loans)EligibilityLagos residents, CAC-registered SMEs, startupsBenefitsGrants, soft loans, business supportDeadlineRolling (year-round, check updates)Portalapply.lsetf.ngFeesFree application
Who Can Apply (Eligibility)
Must be a resident of Lagos State.
CAC-registered business or cooperative.
Active SMEs or startups in sectors like:
Agribusiness
Manufacturing
Tech & innovation
Retail & trade
Creative industry (fashion, film, music)
Must have a valid Lagos State Resident Registration Agency (LASRRA) ID.
Benefits & How Much
Grants for micro and early-stage businesses.
Loans at single-digit interest rates (5–9%).
Access to training & mentorship.
Networking with investors and Lagos State programs.
Funding amount: ₦250,000 – ₦5,000,000 depending on category.
Application Dates & Deadlines
Applications are open all year.
Selection is done in batches/rounds.
Always check apply.lsetf.ng for updated calls.
Required Documents
CAC business registration certificate.
Valid LASRRA ID.
Utility bill (proof of address).
Business plan or financial records.
Tax Identification Number (TIN) or evidence of tax compliance.
Bank Verification Number (BVN).
Step-by-Step Application Process
Visit apply.lsetf.ng.
Select Grants or Loans option.
Create an account and verify your email.
Complete the online form with personal + business details.
Upload documents in PDF/JPEG.
Submit and wait for screening.
Attend interview/verification if shortlisted.
Successful applicants receive grant/loan disbursement.
Fees
✅ Free application.
⚠️ Any request for payment is a scam.
Common Mistakes to Avoid
Applying without LASRRA ID.
Submitting incomplete documents.
Ignoring tax compliance requirements.
Giving unrealistic business projections.
Waiting for deadlines instead of applying early.
FAQs
1. Who is managing the ₦25 billion fund?
The program is managed by the Lagos State Employment Trust Fund (LSETF).
2. Can individuals without a business apply?
No. You must have a registered business with CAC.
3. Is collateral required for loans?
Yes, for higher loan amounts. Micro-loans may be collateral-free.
4. What interest rate applies?
Loans come at 5–9% per annum, depending on the category.
5. Can non-Lagos residents apply?
No. It is strictly for Lagos residents with LASRRA ID.
6. What’s the minimum amount available?
As low as ₦250,000 for micro-enterprises.
7. How long does approval take?
Between 4–8 weeks, depending on document verification.
8. Do I need guarantors?
Yes, for certain loan categories. Grant applicants may not need guarantors.
9. Can I reapply if rejected?
Yes, but only in the next batch. Ensure corrections are made.
10. Does it cover creative businesses like music and film?
Yes, the fund supports creative industries in Lagos.
Official Links / Portals
LSETF: www.lsetf.ng
Application portal: apply.lsetf.ng
What To Do If Rejected
Review why your business plan was weak.
Reapply in the next cycle.
Try alternative funding like BOI SME Loans, NIRSAL MFB loans, or Tony Elumelu Foundation grants.
Conclusion
The Lagos State ₦25 billion SME Grants & Loans is a golden opportunity for entrepreneurs to grow their businesses with government support. Don’t delay — secure your spot today!
👉 Next Steps:
Apply now via apply.lsetf.ng.
Download our Grant & Loan Tracker PDF.
