Mrs. Magdalene I. is 44 years old, married and the mother of five children. She lives in Benin City with her husband. She has been with LAPO for the past three years.
She sells firewood, garri and plantains. She buys the firewood in the morning and sells it to people. She wants to increase her stock; hence she applied for a $400 loan.
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