Gbenga, a resident of Oyo State, Nigeria, sells spare motor parts at retail prices to his customers. In this business for a long time, he now needs a loan of N50,000 to purchase more spare parts to sell. Gbenga, 42, is a hardworking married father of three children, all in school, a fact that gives him joy. He says thanks to all Kiva lenders for their financial support.
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