Folake sells plastics, including baskets and kegs. She has been in this trade for many years. She also has a shop where she sells and rents video compact discs.
She is requesting a loan of NGN 120,000 to buy plastics in bulk from the factory to sell. She said this will reduce her costs, including the cost of transporting the goods to market, and increase her profit. She will be able to serve her clients better and also assist her husband, who is a clergyman, to keep and care for their home.
Folake is 40 years old and married, and she has four children. She and her family lives in Lagos State. She expresses her gratitude to all 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