In continuation of the Lagos State Employment Trust Fund (LSEFT) Grassroots Engagement and Education on its loan scheme, the Eti-Osa Local Government, Ibeju-Lekki, would play host to the LSETF team tomorrow, Tuesday, March 27, 2017.
The visit is part of the ongoing enlightenment process by the LSETF team put together to educate Lagos residents on the processes and requirements for the Trust Fund.
Over the last two weeks, the LSETF team had visited Apapa Local Government and Ajeromi-Ifelodun Local Government after the grassroots engagement and education kicked-off at the Agege Local Government.
A Lagos State Government initiative, the Lagos State Employment Trust Fund (LSETF) is created as part of its commitment to boost the Lagos economy through job creation, leverage and access to finance for micro, small, medium Enterprise (MSMEs) operating in the State.
You would recall that the Executive Secretary of the LSETF, Akin Oyebode, in a recent engagement said “the LSETF has empowered close to 1,500 businesses and before the end of March 2017, we would have touched up to 2,000 businesses in Lagos State.”
Upon establishment, the LSETF was conceived with the commitment to boost the Lagos economy through job creation, leverage and access to finance for micro, small, and medium enterprises operating in the State.
The mandate was to provide support to at least 100,000 MSMEs, create at least 300,000 direct and up to 600,000 indirect jobs by 2019.
Through this scheme promoters and owners of micro-startups can get a loan of N250,000; micro-business can get a loan of up to N500,000; while small-businesses can get a loan of up to N5,000,000 all at 5% interest rate per annum.