Eugene O. is 27 years old and is single. He sells motorcycle spare parts at forestry road in Benin City, Edo state, Nigeria. He is a client of LAPO and is the leader of a lending group.
Eugene buys the motorcycle parts from Onitsha main market and sells them in Benin City. The demand for his product is high. He needs the loan amount of N70,000, US$600, to buy more spare parts to sell. He says thank you to all Kiva lenders 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