Fumilayo is 52 years old. She is married and has six children. She sells foodstuffs like onions, maize, etc., in bulk to her customers. She buys her goods from the rural market, where she gets them at a cheaper rate. But her challenge now is that she needs additional capital to buy more goods from the market to sell, make more profit and avoid always traveling to the market. She has been in this business for more than 10 years.
Fumilayo is asking for a loan of 50,000 Nigerian naira to purchase more foodstuffs to sell and get more discounts to maximize profit. She expresses her huge gratitude 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