{"id":8231,"date":"2023-02-13T12:45:05","date_gmt":"2023-02-13T12:45:05","guid":{"rendered":"https:\/\/presspay.ng\/news\/?p=8231"},"modified":"2023-02-13T12:45:09","modified_gmt":"2023-02-13T12:45:09","slug":"2023-lagos-state-government-cares-grant-program-for-entrepreneurs","status":"publish","type":"post","link":"https:\/\/presspay.ng\/news\/2023-lagos-state-government-cares-grant-program-for-entrepreneurs\/","title":{"rendered":"2023 Lagos State Government CARES Grant Program For Entrepreneurs"},"content":{"rendered":"\n<p>Lagos State Government CARES Grant Program is a state-level intervention that seeks 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.<\/p>\n\n\n\n<p>The program consists of 3 Results Areas (RAs) as defined below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>RA1 \u2013 Focuses on Social Protection<\/li>\n\n\n\n<li>RA2 \u2013 Focuses on Agriculture and;<\/li>\n\n\n\n<li>RA3 \u2013 Focuses on Micro Small and Medium scale enterprises (MSMEs)<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Summary<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Host: Lagos State Government&nbsp;<\/li>\n\n\n\n<li>Category: Grant&nbsp;<\/li>\n\n\n\n<li>Eligible Country: Nigeria&nbsp;<\/li>\n\n\n\n<li>Reward: \u20a6 150,000 \u2013 1 Million Naira&nbsp;<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Details:<\/h4>\n\n\n\n<p>The Lagos State Employment Trust Fund (LSETF) was established by The Lagos State Employment Trust Fund Law 2016 to provide financial support to residents of Lagos State, for job, wealth creation and to tackle unemployment.&nbsp;<\/p>\n\n\n\n<p>The Fund will operate with an initial capital of N25Billion contributed over four years by the Lagos State Government, but will also raise additional funding from various sources including donor partners, development agencies, corporate organizations and individuals.\u00a0<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Credit Grant:<\/h4>\n\n\n\n<p>This provides credit grants to co-finance up to 40% of&nbsp;<strong>performing loans taken by businesses&nbsp;<\/strong>from&nbsp;<strong>June 2020 to date,<\/strong>&nbsp;from qualified financial institutions after the onset of the COVID-19 crisis.<\/p>\n\n\n\n<p>Micro Enterprises: Up to\u00a0\u20a6 1Million<\/p>\n\n\n\n<p>SMEs: Up to \u20a6 1Million<\/p>\n\n\n\n<p>REQUIREMENTS<\/p>\n\n\n\n<p>MICRO ENTERPRISES<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>BVN of Principal<\/li>\n\n\n\n<li>Company Registration where applicable<\/li>\n\n\n\n<li>Evidence of existing business operation.<\/li>\n\n\n\n<li>LASRRA<\/li>\n\n\n\n<li>Evidence of tax payment<\/li>\n\n\n\n<li>Evidence of Existing Loan from qualified Financial institutions<\/li>\n\n\n\n<li>Minimum of 3 staff<\/li>\n<\/ul>\n\n\n\n<p>SMES<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>BVN of Directors<\/li>\n\n\n\n<li>Company Registration<\/li>\n\n\n\n<li>Evidence of existing business operation.<\/li>\n\n\n\n<li>Evidence of Tax Payments<\/li>\n\n\n\n<li>LASRRA of Directors<\/li>\n\n\n\n<li>Evidence of Existing Loan from qualified Financial institutions<\/li>\n\n\n\n<li>Minimum of 10 staff<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Operations Grant:<\/h4>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>Micro Enterprises: Up to&nbsp;&nbsp;&nbsp;&nbsp; \u20a6 150,000<\/p>\n\n\n\n<p>SMEs: Up to \u20a6 1Million<\/p>\n\n\n\n<p>REQUIREMENTS<\/p>\n\n\n\n<p>MICRO ENTERPRISES<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>BVN of Principal<\/li>\n\n\n\n<li>Company Registration where applicable<\/li>\n\n\n\n<li>Evidence of existing business operation.<\/li>\n\n\n\n<li>LASRRA<\/li>\n\n\n\n<li>Evidence of tax payment<\/li>\n\n\n\n<li>Evidence of Operating Expense Obligations<\/li>\n\n\n\n<li>Staff Payee Receipts for the past 3 months<\/li>\n\n\n\n<li>Minimum of 3 staff<\/li>\n<\/ul>\n\n\n\n<p>SMES<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>BVN of Directors<\/li>\n\n\n\n<li>Company Registration<\/li>\n\n\n\n<li>Evidence of existing business operation.<\/li>\n\n\n\n<li>Evidence of Tax Payments<\/li>\n\n\n\n<li>LASRRA of Directors<\/li>\n\n\n\n<li>Evidence of Operating Expense Obligations<\/li>\n\n\n\n<li>Staff PAYE receipt as at Dec 2019 with payment schedule)<\/li>\n\n\n\n<li>Staff Payee Receipts for the past 3 months<\/li>\n\n\n\n<li>Minimum of 10 staff<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">IT Enhancement Grant<\/h4>\n\n\n\n<p>The IT Enhancement Grant offers financing to MSMEs to increase their capacity through the adoption of technology.<\/p>\n\n\n\n<p>Micro Enterprises: Up to&nbsp;&nbsp;&nbsp;&nbsp; \u20a6 300,000 in hardware or software<\/p>\n\n\n\n<p>SMEs: Up to \u20a6 1.5Million in hardware or software<\/p>\n\n\n\n<p>REQUIREMENTS<\/p>\n\n\n\n<p>MICRO ENTERPRISES<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>BVN of Principal<\/li>\n\n\n\n<li>Company Registration where applicable<\/li>\n\n\n\n<li>Evidence of existing business operation.<\/li>\n\n\n\n<li>LASRRA<\/li>\n\n\n\n<li>Evidence of tax payment<\/li>\n\n\n\n<li>Minimum of 3 staff<\/li>\n<\/ul>\n\n\n\n<p>SMEs<\/p>\n\n\n\n<p>Minimum of 10 staff<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Method of Application<\/h4>\n\n\n\n<p>Interested and qualified applicants should apply using the link below.<\/p>\n\n\n\n<p><a href=\"https:\/\/lsetf.ng\/content\/lagos-cares\">CLICK HERE TO APPLY<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Deadline: Not Specified<\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Lagos State Government CARES Grant Program is a state-level intervention that seeks to mitigate the local effects of the COVID-19<\/p>\n","protected":false},"author":1,"featured_media":4728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[43],"tags":[],"class_list":["post-8231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entrepreneurship"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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