Call For Application: Apply For 2023 Lagos Care Grant Program For Small and medium Business Owners And Get Up To N1million Grant To Expand Your Business
Sunday, 10 September 2023
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Call For Application: Apply For 2023 Lagos Care Grant Program For Small and medium Business Owners And Get Up To N1million Grant To Expand Your Business.CONTINUE READING
Call For Applications: Lagos Cares Grant Program For MSMEs (Up to ₦ 1.5Million)
As a result of the effect of the COVID-19 pandemic and in line with the vision of the Federal Government of Nigeria to lift 100 million Nigerians out of poverty in ten years, the Federal Government of Nigeria sought and obtained assistance from the World Bank to implement a two-year emergency response program, named the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES).CONTINUE READING
The Lagos COVID-19 Action Recovery and Economic Stimulus (CARES) Program is a state-level intervention that seeks to mitigate the local effects of the COVID-19 worldwide pandemic at the state-level, by protecting the livelihoods of existing and newly poor and vulnerable households and supporting the recovery of local economic activity especially among MSMEs.CONTINUE READING
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 the 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.CONTINUE READING
Credit Grant This provides credit grants to co-finance up to 40% of performing loans taken by businesses from June 16 2020 to date from qualified financial institutions after the onset of the COVID-19 crisis.
Operations Grant This is a conditional grant to support ongoing operational expenditure. This Grant covers up to 50% of any verifiable/ documented monthly operational cost for 6 months, including but not limited to staff salaries, documented utilities, rent, documented private security expenses, alternative power supply, etc.CONTINUE READING
IT Enhancement Grant The IT Enhancement Grant supports MSEs to increase their capacity through the adoption of technology, and upgrade of Digital Technology, particularly tools that support remote work. It is a non-cash grant which covers IT infrastructure, connectivity, and digital technology tools e.g., Laptops, Internet services, e-Commerce tools, productivity software suites, etc.
METHOD OF APPLICATION
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