Ikechuku is excited at the prospect of securing his first loan from Kiva. He is 35 years old, married, has two children and makes a living selling groceries and food items. He has been in the business for three years, and uses his profits to care for his family. He hopes to increase the size of his business in future, and will use this loan for N100,000 to buy more groceries and food in bulk to sell to his customers.
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