The Executive Secretary of the Lagos State Employment Trust Fund (LSEFT), Akin Oyebode, has advised persons who intend to stand as guarantors to entrepreneurs who are applying for the LSETF loan scheme to be sure of who they plan to guarantee.
Akin Oyebode made this disclosure at the Ifako-Ijaiye Local Government edition of the ongoing LSETF Grassroots Engagement and Education on its loan scheme today, April 10, 2017.
According to him, “a person in the frame of a community leader, cleric, or registered business owner can stand as a guarantor for any entrepreneur who intends to apply for our loans at the LSETF. The application process clearly states the number of guarantors and other requirements essential for a specific loan and they are quite easy to get.”
“For anyone one standing as a guarantor who also plans to apply for the loan, it is advisable that you know who you are guaranteeing and be sure the person would pay back the loans,” he added.
Oyebode however stressed that for such guarantors, it is important they know that they have two loans hanging on their necks to repay in cases where their loans and that of whom they guarantee gets the needed approval.
The Sole Administrator of Ifako-Ijaiye Local Government, Hon. Babatunde Ishola Qazim, in his remarks, advised his constituents to take advantage of the loans to grow their businesses.
“The LSETF team is doing a tremendous job to ensure that we all get the needed funds to invest and grow our business. We should all apply for the loans and I have been assured that the process is void of any form of bias or favoritism,” he said.
Meanwhile, a member of the LSEFT Board, Comrade Michael Popoola urged the residents to continue to share the news and the need to apply for the LSETF loans with registered those in their immediate environment.