Apply for Up to 5 Million Naira: Lagos COVID-19 Action Recovery and Economic Stimulus (CARES) Grant Program 2021
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
As the State’s MDA responsible for MSME intervention, LSETF will anchor RA3, which is aimed at providing relief, facilitating the recovery, and enhancing capabilities of local MSMEs through support designed to 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.
The Grants falls under three 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
MICRO ENTERPRISES
- BVN of Principal
- Company Registration where applicable
- Evidence of existing business operation.
- LASRRA
- Evidence of tax payment
- Evidence of Existing Loan from qualified Financial institutions
SMES
- BVN of Directors
- Company Registration
- Evidence of existing business operation.
- Evidence of Tax Payments
- LASRRA of Directors
- Evidence of Existing Loan from qualified Financial institutions
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
- Company Registration where applicable
- Evidence of existing business operation.
- LASRRA
- Evidence of tax payment
- Evidence of Operating Expense Obligations
- Staff Payee Receipts for the past 3 months
SMES
- BVN of Directors
- Company Registration
- Evidence of existing business operation.
- Evidence of Tax Payments
- 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
IT Enhancement Grant:
The IT Enhancement Grant offers financing to MSMEs to increase their capacity through the adoption of technology.
Single grantee limit: Up to ₦200,000 for Micro enterprises,
Up to ₦2million for Small and Maximum of ₦5million for Medium enterprises
REQUIREMENTS
MICRO ENTERPRISES
- BVN of Principal
- Company Registration where applicable
- Evidence of existing business operation.
- LASRRA
- Evidence of tax payment
To Apply Visit https://apply.lsetf.ng/crgsignup.
For mor information visit https://lsetf.ng/content/lagos-cares.
- 🇶🇦 Qatar In-Demand Jobs List Updated – May 2025
- 🇩🇪 Jobs in Germany for Foreigners due to Shortage of Skilled Workers in Germany 2025
- 🇦🇿 Study in Azerbaijan: Apply for the Fully Funded Heydar Aliyev International Education Grant Program 2025–2026
- 🇪🇸 Spain’s New Arraigo Social Rules 2025: Easier Path to Legal Residency
- 🇨🇳 The OUC President’s Scholarship 2025: Study in China with Funding
-
MTN Nigeria Full Time Open Lagos & Enugu | Nigeria Posted 3 days ago
-
RevenStrat Integrated Services Full Time Open Lagos & Abuja | Nigeria Posted 4 days ago
-
High Caliber Nigeria Limited Full Time Open Lagos & Abuja | Nigeria Posted 4 days ago
-
Marriott International Full Time Open Akwa Ibom & Lagos | Nigeria Posted 4 days ago
-
African Export Import Bank (Afreximbank) Full Time Open Abuja | Nigeria Posted 5 days ago
Read Also:
Discover more from Careerical eConsult
Subscribe to get the latest posts sent to your email.