Vera O. is 48 years old and married with 7 children. She is a client of LAPO [Kiva's Field Partner] and a leader of a lending group under LAPO microfinance. Vera sells yams and palm oil. She has been in this business for a long time. Vera has so many customers because yams and palm oil are essential foodstuffs that are used on a daily basis in Nigeria. Vera needs the loan amount of N102,000 to purchase more yams and palm oil to sell. She says thank you to all Kiva lenders and LAPO MICROFINANCE for their financial support.
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