There are three programmes under the Lagos State Loan scheme.

Micro-enterprise Start-up which offers up to N250,000 loan at an interest rate of 5 percent per annum for up to one year.

Micro-enterprise loan, similar to the start-up programme, but offers loan amount up to N500,000 at the same rate and tenor.

SME loan programme offering between N500,000 and N5 million for a period of up to 3 years at an interest rate of 5 percent per annum.

The three programmes have different requirements for beneficiaries to qualify. The requirements are quite straight forward and no need for any form of collateral.

Now my questions.

1. Are they still giving out loans?

2. If yes, how long does it take. From application to disbursement?

If you are a beneficiary or you have current information, kindly share.

Thanks