Bola is 35 years old, is married, and has three children. She is a teacher by profession but also has a shop where she sells snacks and drinks. This serves as additional income at the end of the day and, with this trade, she assists her family with some financial needs.
Bola has been in her business for the past ten years and wants to improve on it. She is asking for a loan of NGN 100,000 to purchase a deep freezer to cool her drinks while the balance will be used to purchase more drinks to sell. That will enable her to make more profit.
Bola says thanks to Kiva 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