Blog Career News Entrepreneurship Nigreia Editorial Staff November 18, 2020 0 Comments

Apply: One Billion Naira (₦1,000,000,000) Seed Capital for Businesses in Lagos

The Lagos Government in response to the economic challenges being experienced as a result of the Covid-19 Pandemic which necessitated the shutdown of all tourism, hospitality and creative arts businesses among others; has considered the sector as one of the worst hit of the economy. The State Government through the intervention of the Ministry of Tourism, Arts and Culture has therefore made available credit funding domiciled with Lagos State Employment Trust Fund (LSTETF)in support of the recovery and revitalization of the sector in Lagos State.

The under listed documents will be required from all interested practitioners/stakeholders in accessing the fund. All interested practitioners should therefore, start with the first stage by filling the online application form for eligibility code.

Required Documents:

1. Must be resident of Lagos State (LASSRA)

2. Business must be within the creative Arts, Tourism and Hospitality sector

3. Business must be registered with the Lagos State Ministry of Tourism, Arts and Culture

4. Business must be operational for at least One (1) year

5. For Term Loan and Hub Loans/Production Loans within the SME category; business must be registered with CAC

6. Must provide Guarantors with a sizable income: Two (2) Guarantors for Term and Hub loans/Production loans within the SME category. One (1) of the Two (2) Guarantors must be an Association and One (1) Guarantor for Term Loans within the ME category.

7. Applicant must be a member of an Association (Optional)

8. Evidence of Tax Compliance

9 For hub Loans/Production Loans; Business must operate a hub, incubator or similar facility that supports capacity development of emerging/existing talent with the Arts, Tourism and Hospitality sectors in Lagos State.

10 For Production Loan; Business/Promoters must already have some experience producing work that has been in at least local cinemas.

11 Two photographs

Voucher programme:

1. Must be a resident of Lagos State (LASSRA)

2. Business must be within the Arts, Tourism and Hospitality Sector

3. Business must be registered with the Lagos State Ministry of Tourism, Arts and Culture

4. Business must be registered with the CAC for voucher value above 500,000

Applications Deadline:

Ongoing

How to Apply

Qualified and interersted businesses should click on the button below to apply.

For more information:

Phone number: 08023320906

Email: glibrahim@lagosstate.gov.ng

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