EKO HOT BLOG reports that the Senator representing Lagos East Senatorial District, Senator Mukhail Adetokunbo Abiru, has unveiled a business N300 million loan for entrepreneurs.
Senator Mukhail Adetokunbo Abiru,
Senator Abiru, who is the Chairman Senate Committee on Industries, called on all Micro, Medium and Small Enterprises, MSME, living and doing business in Lagos East to apply for the N300 Million Constituency Revolving Loan at 6% Interest Rate Per Annum.
This online media platform recalls that on 14 November 2021, the Senator, in partnership with The Fate Foundation and Standard Chartered Foundation, organized a one-day MSME Clinic/Workshop for over 1,000 MSMEs drawn across 98 wards in the 16 LGAs/LCDAs in the Lagos East Senatorial District.
The training, which attracted Executive Leadership of business-related regulatory agencies and partners such as; BOI, SMEDAN, CAC, LIRS, NAFDAC and LSETF greatly enhanced the capacity of MSMEs in the district.
Geared towards addressing the dearth of knowledge – one of the major reasons why MSMEs fail, a knowledge pack containing seven valuable books covering areas like; Financial Management, Human Capital, Legal, Strategy, Marketing and Communication, Digital Technology and Tax Management authored by reputable corporations including Deloitte, KPMG, Verraki among others, were given free of charge to all participants.
Participants also received Enterprise Development Certificates after the training.
It was gathered that the gesture is in fulfilment of the promise made to constituents at the event which will be formally launched on Thursday, 15th September 2022.
The N300 million Constituency Revolving Loan will attract a 6% interest rate per annum.
Also worthy to mention is that in June 2022, Senator Abiru empowered about 1,250 market women and traders with the sum of N50,000 each as financial grants totalling N62.5 million to support their businesses.
In addition, hand-planters and financial grants of N20,000 were also dolled out to 200 rural farmers in the agrarian part of the district.
As regard how to apply for the loan, prospective beneficiaries are directed to visit the Senator’s official website on https://www.tokunboabiru.org/app-1/lagoseastmsmeloan
Alternatively, would-be beneficiaries can as well visit any Lagos State Employment Trust Fund, (LSETF) liaison office across the sixteen (16) LGA/LCDAs in Lagos East with copies of the following requirements:
Duly registered business with CAC (For loans above N500,000)
NIN (National Identification Number)
Registered with LASRRA
A mobile phone with an internet subscription (Optional)
Bank account details
ATM card with at least a one-year expiry date
A certificate of attendance from a business workshop or training from any recognized institution or body.
Interested applicants can visit any of the offices closer to them, below:
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