Doris sells foodstuffs, cooking oil and drinks. She has been in business for the past 10 years to assist her husband with their children's upbringing. Doris has been borrowing from LAPO, a Kiva partner, for the past three years and is a faithful client.
She goes to Cotonu once every two weeks to get goods in large quantities at a discount. She needs a loan of N160,000 to purchase more foodstuffs, which will enable her to meet customer demand. She says thank you and promises to pay back promptly.
The Kiva Field Partner in Nigeria who administers this loan is called the Lift Above Poverty Organization (LAPO). Kiva’s Staff wants to call your attention to the fact that LAPO is the subject of controversy. While all Kiva Field Partners charge an interest rate on loans to sustainably operate, LAPO’s interest rates (see their “Portfolio Yield”) and profitability (see their “Return on Assets”) are amongst the highest on Kiva. Kiva’s Staff encourages you to learn more about this Nigerian Field Partner before making this loan. http://www.kiva.org/partners/20