Lagos Cares Grant For MSMEs: Get Up to 5million Naira Loan-Apply
LSETF will anchor RA3, is aimed at
- providing relief, facilitating the recovery, and enhancing capabilities of local MSMEs
- reduce the vulnerability and cushion the effect of income loss brought about by the ongoing COVID-19 pandemic and its resultant disruption to regular commercial activity.
- to mitigate the local effects of the COVID-19 worldwide pandemic at the state-level, by
- protecting the livelihoods of existing and newly poor and vulnerable households and
- supporting the recovery of local economic activity especially among MSMEs
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The program consists of 3 Results Areas (RAs) as defined below:
- RA1 – Focuses on Social Protection
- RA2 – Focuses on Agriculture and;
- RA3 – Focuses on Micro Small and Medium scale enterprises (MSMEs)
The Grants categories:
Credit Grant
This provides credit grants to co-finance up to 40% of new loans given to businesses by qualified financial institutions after the onset of the COVID-19 crisis.
Single grantee limit Up to ₦100,000 for Micro enterprises,
Up to ₦1million for Small and Maximum of ₦5million for Medium enterprises
Operations Grant
“This grant is to Support Operational Expenditure after the onset of Covid-19. This grant aims to incentivize MSEs to reach pre- COVID 19 level of employment. The grant would cover operational costs.
“Operations grants for MSMEs that cover up to 50% of any verifiable/ documented monthly operational cost for 6 months including but not limited to staff salaries; documented utilities; documented private security expenses”
Single grantee limit: Up to ₦150,000 for Micro enterprises,
Up to ₦1.5million for Small and Maximum of ₦5million for Medium enterprises
REQUIREMENTS
MICRO ENTERPRISES
BVN of Principal
Evidence of tax payment
Evidence of Operating Expense Obligations
Staff Payee Receipts for the past 3 months
Company Registration where applicable
Evidence of existing business operation.
LASRRA
SMES
LASRRA of Directors
Evidence of Operating Expense Obligations
Staff PAYE receipt as at Dec 2019 with payment schedule)
Staff Payee Receipts for the past 3 months
BVN of Directors
Company Registration
Evidence of existing business operation.
Evidence of Tax Payments
How To Apply-Click Here To Apply