LSETF intimates youths on state loan schemes

By Rasaq Adebayo

Lagos State Employment Trust Fund (LSETF) has intimated youths across all the Local Government Areas on the loan schemes available for different categories.

It also enlightened them on the easier way to access the loans to support their businesses or start up new business.

For the enlightenment programme, more than 138 youths across all the Local Governments in Lagos were gathered at Oshodi-Isolo Youth Center where they were told to grab the loan opportunity at the Lagos State Employment Trust Fund (LSETF).

According to the body, the loan categories include start up business loan, business expansion loan, vocational training/empowerment loan, business grant and special loan support for educational programmes.

It stated that education loan, business grants and women initiative loan of minimum of N1million are exclusively for women with 10 percent interest rate.

But for other loan categories, each participant can access between N50,000 and N5million with 9 percent interest rate.

It further explained that startup business loan is between N50,000 and N250,000 which could be accessed at 9 percent interest rate while business expansion loan is between N1million and N5million with 10 percent interest rate interest.