According to the Acting Executive Secretary of the Lagos State Employment Trust Fund, Mrs. Feyisayo Alayande, the State Government has supported no fewer than 500,000 private business enterprises operating in Lagos State, Nigeria, with a tenure-bound credit programme and seed capital through the LSETF,.
Alayande said LSETF, since inception, had organised 220,000 business sustainability trainings for thousands of entrepreneurs and it had disbursed over N10 billion in business grants to support new and existing enterprises, with 86 percent of beneficiaries meeting their loan repayment obligations.
She noted that Since inception of operations, "we have provided good support to businesses in terms of funding. We have done about N10 billion disbursement till date in terms of creating access to seed capital and business financing for enterprises across sectors
We have done about 220,000 entrepreneurial trainings for Lagosians, while supporting about 500,000 businesses.
“As at two months ago, we had over 83 per cent collection rate, which means that the majority of our loan beneficiaries have paid back their facilities. As I speak, we have moved the collection rate up to 86 per cent. This means that we have been performing better.
“Our beneficiaries are constantly reminded about their obligations to repay the loan given to them to scale up their businesses. Our goal is to achieve total repayment. Any beneficiary who defaults the loan repayment is automatically denying someone else the opportunity to benefit from the scheme.”
.jpeg)
No comments:
Post a Comment