Aderunke sells jewelry and ice blocks from home; she makes more profit from the ice block business. To her great joy, the high season is here. She is happy because her sales will increase. Aderunke has been in her business for a long time. She is 33 years old and married with three children. She has been borrowing from LAPO for the past three years and loans have been the source of capital for her business. She is hoping for a loan of 100,000 naira to purchase more ice blocks and jewelry to sell. She says thanks to all Kiva lenders.
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