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About the Lagos Innovates Hub Loan Program
Are you running a co-working space, startup incubator, or innovation hub in Lagos? The Lagos Innovates Hub Loan Program offers a unique opportunity to access low-interest loans to scale up your operations, upgrade infrastructure, and contribute meaningfully to Lagos’s growing innovation ecosystem. Applications are now open on a rolling basis, so early submission is strongly encouraged.
The Lagos Innovates Hub Loan Program is a flagship initiative of the Lagos State Employment Trust Fund (LSETF). It is designed to strengthen Lagos’s innovation infrastructure by providing affordable financing to operators of co-working spaces, tech hubs, and business incubators.
Through this program, Lagos Innovates supports the backbone of the entrepreneurial community by ensuring that hubs and startup support centers have the resources they need to improve connectivity, expand services, and foster entrepreneurship in the state.
The Hub Loan Program is one of several interventions by Lagos Innovates aimed at driving inclusive growth and job creation through technology and innovation. Other programs include talent development, workspace vouchers, and startup grants.
Eligible Fields
The loan program is focused on supporting sectors that contribute to startup and tech ecosystem development. Eligible fields include:
- Technology and software development
- Innovation and entrepreneurship support
- Coworking and incubation services
- Startups and SME acceleration
- Creative and digital industries infrastructure
If your organization plays a role in cultivating startups or providing support services to entrepreneurs in Lagos, this program could be an excellent fit.
Eligibility Criteria
To qualify for the Lagos Innovates Hub Loan Program, applicants must meet the following criteria:
- Be a registered Nigerian business headquartered in Lagos State.
- Operate as a co-working space, innovation hub, or startup incubator.
- Have at least one shareholder or director who is a Lagos State resident and is personally tax-compliant.
- The business must be tax-compliant at the corporate level as well.
- Demonstrate clear plans for using the loan to enhance infrastructure or expand service offerings.
This program is exclusively available to operators within Lagos State, and businesses outside the region are not eligible to apply.
Selection Criteria
Applications will be assessed on a competitive basis. Key considerations include:
- Alignment with the goal of strengthening Lagos’s innovation ecosystem
- Demonstrated potential to support startups or entrepreneurs
- Business and financial health
- The ability to scale operations and reach more startups
- Proposed use of funds for infrastructure development, capacity expansion, or service improvement
Required Documents
Applicants should prepare the following documents as part of their submission:
- Corporate Affairs Commission (CAC) registration documents
- Tax Identification Number (TIN) and proof of tax compliance
- Business plan or project proposal outlining intended use of loan funds
- Financial statements or projections
- Valid identification for shareholders/directors
- Proof of Lagos residency for at least one director/shareholder
Having these documents ready in advance will streamline your application process.
Benefits of the Lagos Innovates Hub Loan Program
The program is packed with benefits that make it attractive to innovation centers of all sizes:
- Low-interest loans with flexible repayment plans lasting up to four (4) years
- Financial support for key infrastructure improvements such as high-speed internet, power solutions, office expansion, and equipment
- Opportunity to scale up your physical space or introduce new services like accelerator programs or tech labs
- Access to a vibrant innovation community and mentorship support through Lagos Innovates’ extensive network
- Indirect benefits through greater exposure to startup clients, partnerships, and funding opportunities
This initiative directly addresses the financial constraints that often prevent hubs from scaling to meet demand or upgrading outdated infrastructure.
How to Apply
Applying for the Lagos Innovates Hub Loan Program is a straightforward process:
- Visit the official website
- Create a user account or log in if you already have one
- Access the Hub Loan Program application page
- Fill out the application form and upload all necessary documents
- Save your progress and submit when complete
Applications are reviewed on a rolling basis, meaning there’s no set deadline, but submitting early increases your chances of timely evaluation and funding.
Final Thoughts
Lagos is fast becoming Africa’s startup capital, and innovation hubs are the heartbeat of this transformation. Whether you’re just starting out or already support a large community of founders, this loan can help you:
- Upgrade your facilities to attract more entrepreneurs
- Offer new services and programs for startup development
- Ensure stable internet, power, and connectivity
- Position your hub as a center of excellence within the ecosystem
By participating in this program, you’re not only growing your business—you’re contributing to the broader economic development of Lagos and Nigeria.
Don’t wait. Strengthen your innovation hub with affordable funding and join the network of changemakers shaping the future of tech and entrepreneurship in Lagos. Click the link below to get started.
CLICK HERE TO APPLY
See also:
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