Oreoluwa sells sarongs and has been in business for 15 years. She is a member of LAPO and is a faithful client. Oreoluwa goes to market once every two weeks to buy new stock in large quantity at a discount.
Oreoluwa is requesting a loan of N100,000 to purchase goods in bulk. This will enable her to meet demand during the festive season. Oreoluwa is 35 years old and has a three children, ages are 14,10 and seven. She says thank you to lenders as her previous loan enabled her to sell more goods to customers. She promises to pay back this new loan 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