Chinyere O., who is 28 years old and married with one child, operates a laundry business in Benin City, Edo State, Nigeria. Opening her business very early everyday to attend to customers, Chinyere does the majority of her washing manually. Because this is time-consuming, she sometimes loses customers to other laundry services. She is therefore requesting a loan of $850 to buy a laundry machine. This will help Chinyere to retain her customers and increase her profit margin.
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