Read more about Opportunities
Businesses can apply for one of three grant types, namely:
- Credit Grant
- IT Enhancement Grant
- Operations Grant
Credit Grant
This covers up to 40% of performing loans taken by businesses starting in June 2020, to date, from selected financial institutions following the emergence of the COVID-19 crisis.- Here, micro-enterprises and SMEs could both be eligible for loans of up to ₦1 million.
Operations Grant
The Operations Grant is given to prop-up the operational expenditure of MSMEs in Lagos after the emergence of the COVID-19 pandemic. This grant will cover up to 50% of monthly operational costs for 6 months. The costs to be covered include staff salaries, documented utilities, and documented private security expenses.- Micro enterprises will receive up to ₦150,000
- SMEs will get up to ₦1 million
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IT Enhancement Grant
This grant helps MSMEs to acquire technologies that will improve their operations and productivity.- Micro enterprises will receive hardware and/or software worth up to ₦300,000
- SMEs will get hardware and/or software worth up to ₦1.5 million
Eligibility
Micro Enterprises- Principal’s BVN
- Evidence of company registration (where this applies)
- Evidence that the business is currently in operation
- LASRRA (Lagos State Residents Registration Agency) ID
- Evidence of Operating Expense Obligations
- Evidence of tax payment
- Staff Payee Receipts for the past 3 months
- Minimum of 3 staff
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SMEs
- Directors’ BVN
- Evidence of company registration
- Evidence of tax payment
- Evidence that the business is currently operational
- Directors’ LASRRA IDs
- Evidence of Operating Expense Obligations
- Staff Payee Receipts for the past 3 months
- Staff PAYE receipt as of Dec 2019 (with payment schedule)
- Minimum of 10 staff
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