Joseph is excited to take his first loan with Kiva. He will use this loan to invest in his business of selling cosmetics and baby wear which he will buy in bulk to get a better price. He hopes that this loan will help him build a business that will be profitable and provide benefits for his family. Joseph has been in this business for eight years. He is currently taking a part-time course in one of the higher institutions. In order to make more profit and to complete his education, he is requesting a loan of 100,000 NGN to purchase more cosmetics and baby wear to meet with customers' demands in this festive season. He also needs to increase his capital and his profits. Joseph is 28 years old.
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