The Lagos State is now ready to provide financial support for business owners in the state to help accelerate their small business to a global brand.
The grant/fund falls in three category and this form the basis upon which every applicants must apply. The category have been prepared to offer the best opportunity for every persons who wish to benefit greatly in the gesture put out by the Lagos state government. The category are among the ones as we have listed the out for easy understanding of every persons that will read this article.
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Lagos government has three key component where they are focusing in the programme. The three component includes Agriculture, Social protection and the micro small and medium scale enterprises (MSMEs). The categories are under three programmes and that is how it shall be run by the state.
. CREDIT GRANT: The credit grant will offer up to 40% of new loans business owners would love to take from reputable financial institutions. The limit set up for the grant is up to hundred thousands Naira for micro businesses, about one million naira for small business and maximum up to five million naira for medium enterprises.
THE BASIC REQUIREMENTS FOR THIS GRANT/FUND FOR MICRO ENTERPRISES
. Bank Verification of Principal
. Certification of company registration, this is very important
. Provision of evidence of already existing business
. Tax payment evidence
. Proof of existing loan from qualified financial banks.
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REQUIREMENTS FOR SMES
. Bank verification of directors
. Proof of comapny registration
. Proof of existing business operations
. Tax payments evidence
. LASSRA Director
. Proof of existing loan
. OPERATIONS GRANT/FUNDS: This offer support for operational expenditure from the beginning of the fund. Set up to viable business operational costs. About 50% of the initial amount is offset for persons with verifiable documents that clearly state monthly statements of operational costs which would includes staff salaries, utilities and evidence of security expenses .
The grand and fund limit is up to one hundred and fifty thousands naira for micro enterprises. About one and five hundred thousands for small and maximum of five million naira for medium enterprises.
BASIC REQUIREMENTS FOR MICRO ENTERPRISES
. Bank verification is important for the principal to tender
. evidence of company registration
. Tax payment evidence
. Operating expenses evidence
. Receipt of staff payee not less than three month.
SMES REQUIREMENTS FOR THE GRANT/FUND
. Director’s Bank verification
. Company registration
. proof of eexisting business operation
. LASSRA of Directors
. Proof of operating expenses
. Staff payee receipts not below December 2019
Receipt of staff not less than the last three month.
HOW TO APPLY FOR LAGOS STATE BUSINESS GRANTS
The application is widely opened and those willing to be a beneficiary should apply here via this website. The website takes you directly to the main website where you would apply on the advertising website that the Lagos state has sets aside for the good deeds.