Fumi sells provisions, drinks, and foodstuffs in her house. She has had this small business for a while. Fumi is 28 years old and married with two children. Fumi lives in Okoko, Lagos State, Nigeria. She is a LAPO Microfinance client. Fumi is requesting a loan of N100, 000 ($850 USD) to purchase more groceries to sell to customers. She says thank you to all the Kiva lenders for their financial support and to LAPO microfinance for their business training.
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