Lagos State CARES Grant Program for Entrepreneurs/Business Owners
Lagos State Grant: The application is open for the 2023 Lagos State Government CARES Grant for Entrepreneurs and business owners. All entrepreneurs are invited to apply for the Lagos CARES grant.
The Lagos State Government CARES Grant Program is a state-level intervention aimed at mitigating the local effects of the COVID-19 global pandemic at the state level by protecting the livelihoods of existing and newly poor and vulnerable households and assisting in the recovery of local economic activity, particularly among MSMEs.
Brief Grant Details
Sponsor(s): Lagos State Government
Type: Grant
Eligible Country: Nigeria
Reward: ₦ 150,000 – 1 Million Naira
Application Deadline: Open
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Grant Area of Focus
The program consists of 3 Results Areas (RAs) as defined below:
- RA1 – Focuses on Social Protection
- RA2 – Focuses on Agriculture and;
- RA3 – Focuses on Micro Small and Medium scale enterprises (MSMEs)
Grant Categories and Eligibility
Credit Grant
This provides credit grants to co-finance up to 40% of performing loans taken by businesses from June 2020 to date, from qualified financial institutions after the onset of the COVID-19 crisis.
Micro Enterprises: Up to ₦ 1Million
SMEs: Up to ₦ 1Million
Eligibility Requirements for Credit Grants
MICRO ENTERPRISES
- BVN of Principal
- Company Registration where applicable
- Evidence of existing business operation.
- LASRRA
- Evidence of tax payment
- Evidence of Existing Loans from qualified financial institutions
- Minimum of 3 staff
SMES
- BVN of Directors
- Company Registration
- Evidence of existing business operation.
- Evidence of Tax Payments
- LASRRA of Directors
- Evidence of Existing Loans from qualified financial institutions
- Minimum of 10 staff
Operations Grant:
This grant is to Support Operational Expenditure after the onset of Covid-19. This grant aims to incentivize MSEs to reach pre- COVID 19 level of employment. The grant would cover operational costs.
Operations grants for MSMEs that cover up to 50% of any verifiable/ documented monthly operational cost for 6 months including but not limited to staff salaries; documented utilities; documented private security expenses.
Micro Enterprises: Up to    ₦ 150,000
SMEs: Up to ₦ 1Million
REQUIREMENTS FOR OPERATIONS GRANT
MICRO ENTERPRISES
- BVN of Principal
- Company Registration where applicable
- Evidence of existing business operation.
- LASRRA
- Evidence of tax payment
- Evidence of Operating Expense Obligations
- Staff Payee Receipts for the past 3 months
- Minimum of 3 staff
SMES
- BVN of Directors
- Company Registration
- Evidence of existing business operation.
- Evidence of Tax Payments
- LASRRA of Directors
- Evidence of Operating Expense Obligations
- Staff PAYE receipt as at Dec 2019 with payment schedule)
- Staff Payee Receipts for the past 3 months
- Minimum of 10 staff
IT Enhancement Grant
The IT Enhancement Grant offers financing to MSMEs to increase their capacity through the adoption of technology.
Micro Enterprises: Up to    ₦ 300,000 in hardware or software
SMEs: Up to ₦ 1.5Million in hardware or software
REQUIREMENTS IT ENHANCEMENT GRANT
MICRO ENTERPRISES
- BVN of Principal
- Company Registration where applicable
- Evidence of existing business operation.
- LASRRA
- Evidence of tax payment
- Minimum of 3 staff
SMEs
- Minimum of 10 staff
How to Apply
Interested and qualified entrepreneurs are all encouraged to apply via the Apply Button below. OR Visit Here to Apply.
Click on Apply as New or First Time Applicant if you are applying for the first time.