Stella O. is 75 years old. She is a widow with 4 children. All her children are grown up and are happily married. Stella is involved in an interesting business. Stella cooks food for people who have social ceremonies like weddings, funerals and birthday ceremonies. She has lots of cooking utensils like plates, spoons, and big pots for large cooking. Stella has 5 women assisting her in cooking. She buys her foodstuffs like rice, groundnut oil, tomatoes, pepper, and vegetables from New Benin market. Stella loves her business. She is happy whenever people get married and invite her to cook. She hopes for the loan amount of $875 to buy more foodstuffs and cooking utensils. She says thank you to all Kiva lenders and LAPO MICROFINANCE.
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