The LSETF/First-Edu Loan is a ₦5B intervention fund targeted at Schools and relevant educational institutions (in ME & SME categories only) which have been in operation for over one year, and with minimum students’ population of 100 (one hundred). The initiative is a partnership between First Bank of Nigeria and The Lagos State Government.
LSETF/FIRST-EDU LOAN (500,000-5,000,000) per school
FEATURES
- AVAILABLE TO SCHOOLS OPERATING IN LAGOS STATE
- MAXIMUM LOAN SIZE =N=5M
- TENOR = 12 – 24 MONTHS
- EQUITY = 5% OF LOAN SIZE
- INTEREST RATE = 9% PER ANNUM
REQUIREMENTS
- LASSRA ID
- TAX ID (LIRS)
- VALID GOVERNMENT ISSUED IDENTITY CARD
- TIN NUMBER (FIRS TAX IDENTIFICATION NUMBER)
- VALID CAC DOCUMENTS
- MINIMUM OF 50 STUDENTS ENROLLED
- BANK VERIFICATION NUMBER
- 2 PASSPORT PHOTOGRAPHS
- 12 MONTHS CORPORATE BANK STATEMENT
- SCHOOL OR TRAINING INSTITUTE MUST BE REGISTERED WITH THE CAC AND OPERATIONAL FOR AT LEAST 1YEAR.
Click Here To Apply For The LSETF/First-Edu Loan