EdFin Microfinance Bank has partnered with the Lagos State Employment Trust Fund (LSETF) to provide a single-digit interest rate loan to over 2,000 private schools and Individuals looking to fund their education in Lagos State. This
N5Bn intervention fund is part of the Lagos State government’s initiative to help schools recover from the shocks and losses because of COVID-19. Depending on capacity, each school will have the opportunity to access up to N5m payable over 30 months at 9% per annum.
LSETF/EDFIN EDU LOAN (500,000-5,000,000) per school
- AVAILABLE TO SCHOOLS OPERATING IN LAGOS STATE
- MAXIMUM LOAN SIZE =N=5M
- TENOR = 12 – 30 MONTHS
- EQUITY = 5% OF LOAN SIZE AND 10% OF ASSET FINANCE.
- INTEREST RATE = 9% PER ANNUM
- LASSRA ID
- TAX ID (LIRS)
- VALID GOVERNMENT ISSUED IDENTITY CARD
- TIN NUMBER (FIRS TAX IDENTIFICATION NUMBER)
- VALID CAC DOCUMENTS
- MINIMUM OF 100 STUDENTS ENROLLED
- BANK VERIFICATION NUMBER
- 2 PASSPORT PHOTOGRAPHS