In a bid to ensure a smooth application process for its loans and as well provide adequate financing for Lagos businesses, the Lagos State Employment Trust Fund (LSETF) has launched an upgraded online portal embedded with loan tracking capabilities for improved application experience for applicants of its loan programmes.
In addition, the website (www.lsetf.ng) has a more visually appealing look and feel as well as easier navigation for a better user experience.
In like manner, the portal has also been redesigned to aid easier online loan application process that is now trackable to the point of disbursement to the beneficiaries. There is also improved information sharing, communications and transparency on the loan programmes and other programmes being implemented by the LSETF.
Commenting on the development, the Executive Secretary of LSETF, Akin Oyebode said; “the revamped LSETF portal goes beyond enhanced visual appeal; it is rather a comprehensive enhancement that further deepens our commitment to transparency and actualisation of our merit-based processes for applicants of the LSETF loans or any other party seeking to engage with us. In line with advancements in online capabilities that have greatly improved user experience, I am pleased that every applicant to the LSETF loan programmes can now easily track the progress of their applications within the comfort of their offices or homes.
“We have also included new features that will make the portal a repository of useful educative resources for our stakeholders. Visitors will benefit from the up-to-date information and trainings to guide them in making better business decisions. The resources to be hosted on the site will include guides on business regulations in Lagos which include local government taxes and levies and advert rates by Lagos State Signage & Advertisement Agency (LASAA).
Most importantly, Lagos residents are to experience improved access to our customer service team, who give immediate response to their queries within 24 hours. The newly improved site is in an expression of our commitment to serve Lagos residents better.”
The Lagos State Employment Trust Fund (“LSETF”), was established by The Lagos State Employment Trust Fund Law 2016 to inspire the creative and innovative energies of all Lagos residents by providing access to financial and institutional supports to enterprises and by building capacity for unemployed youths for wealth and employment creation.
With a ₦25Billion seed fund provided by the Lagos State Government for four years, the Fund aims to support about 100,000 MSMEs; create at least 300,000 direct & up to 600,000 indirect jobs by 2019.
To achieve its mandate the LSETF launched three key programmes:
THE LOAN SCHEME -. Through this scheme Lagos residents who are promoters or owners of small business can apply to access very affordable loan financing to grow their businesses. Micro Enterprise start–ups can get a loan of up to N250,000; existing Micro-businesses can get a loan of up to N500,000; while small scale businesses can get a loan of up to N5,000,000, all at 5% interest rate per annum and with zero collateral.
THE EMPLOYABILITY PROGRAMME – The LSETF’s Employability Programme, which is in partnership with United Nations Development Fund (UNDP) aims to train and secure jobs for 10,000 unemployed and under-employed youths in Lagos. They are trained to provide skilled labour to the key sectors of the Nigerian economy such as manufacturing, construction, hospitality, entertainment, healthcare services and garment making.
THE LAGOS INNOVATE -. With Lagos Innovate, the Fund aims to sustain Lagos’ status as Africa’s most vibrant tech hubs by providing support and funding to the Lagos based tech ecosystem. Under this programme, founders and operators of co-working spaces and innovation hubs will be able to apply for one of its first three programmes: Workspace Vouchers, Hub Loans and Events Sponsorship, through open, merit-based, online applications processes.