Grace sells "pap" (ground maize that is soaked and softened into a porridge) from her home. She buys maize in bulk and processes it into pap. She sells the pap to big buyers, who sell it with bean cakes, because people in this locality cherish pap and bean cakes for their breakfast. She gets her maize directly from the farmers. When corn becomes scarce, she travels far to make sure her customers are supplied. She has been in this business for eleven years.
Grace is 40 years old and a widow. She has three children whose age ranges between 12 to 21 years. With part of her profit, she is able to clothe, feed, and pay the school fees of her two younger children who are still in secondary school.
Grace is requesting for a loan of NGN 80,000 to purchase maize in bulk to make pap to sell. She says "thank you" and promises to repay 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