Vero L.’s business has of two categories: she sells fish and gently used clothing. At 44 years of age with 5 children, she still has enough energy to sell fish in the evening after returning from the market where she sells used clothes. She has been borrowing from LAPO Microfinance for the past 4 years and hails from Ajamgbadi, Lagos State, Nigeria. She needs a loan of $600 to enable her buy more fish and used clothes to sell.
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