The Lagos MSME Recovery Fund 2.0 is a grant program run by the Lagos State Employment Trust Fund (LSETF) to assist Lagos MSMEs in recovering from the COVID-19 pandemic’s consequences.
The Lagos State Employment Trust Fund (LSETF) was formed in 2016 by the Lagos State Employment Trust Fund Law to encourage job creation, wealth generation, and unemployment reduction in Lagos State.
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How does the Lagos State MSME Recovery Fund 2.0 work?
The LSETF will raise funds from a variety of sources, including donors, development agencies, corporations, and individuals, in addition to the N23 billion contribution from the Lagos State Government over four years.
The LSETF would encourage entrepreneurship by providing financial assistance, strengthening MSMEs’ institutional capacity, and developing policies to improve the business climate in Lagos.
The Lagos MSME Recovery Fund will also assist in the creation of training and job programs for unemployed Lagos people, as well as programs that promote innovation in the Lagos ecosystem.
Who Is Qualified for the Lagos MSME Recovery Fund 2.0?
To be eligible for a Lagos recovery loan, your company must have at least one of the issues listed below.
- You must be the owner of a small business in Lagos State that has battled to stay afloat since the emergence of Covid 19.
- Have you ever struggled to restock your business owing to a shortage of funds?
- Do you have trouble repaying your business loans?
- If you are unable to pay your rent or employee salaries, are you considering closing your business?
How to Apply for the Lagos State MSME Recovery Fund 2.0
By clicking on this link and following the procedures, you can apply for this grant. Please try again if you did not receive an email after submitting your application.
Benefits of the Lagos MSME Recovery Fund 2.0
You will have the option of obtaining a loan for your company. If you qualify, the Lagos MSME Recovery Fund 2.0 is for you. The recovery fund is intended to assist small business owners in overcoming the problems caused by the severe economic environment that has emerged in the aftermath of the Covid-19 pandemic.