Lagos State N1 Million Financial Support for Business Owners

Lagos State N1 Million Financial Support for Business – The applications are opened to various individual that owns and runs their businesses in the state, such would need to apply in the legitimate category to be part of those that will benefit from the illustrious gesture of Lagos state government.

To achieve this bounty tasks, the government has put up a huge amount that will be given to participants and worthy beneficiaries of the Lagos cares and grant applicants.

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 a hundred thousands Naira for micro businesses, about one million naira for small business and maximum up to five million naira for medium enterprises.

Basic Requirements For Lagos State N1 Million Financial Support for Business

• . Bank Verification of Principal
• . Certification of company registration, this is very important
• . Provision of evidence of already existing business
• . LASRRA
• . Tax payment evidence
• . Proof of existing loan from qualified financial banks.

Requirements for Lagos State N1 Million Financial Support for Business

• . 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
• . LASSRA
• . 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 N1 Million Financial Support for Business

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.

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