Festus is a big business man in his community in Agbor, Delta state. He sells rechargeable phones and accessories at retail prices to his customers. He says LAPO has affected his business positively. He has used LAPO loans and the support of his family members as capital for his business. He loves this business because of the one-on-one interaction that he has with his customers. He travels to Cotonu and Togo to purchase his goods to sell in Agbor. He is requesting a loan of NGN 150,000 to purchase more rechargeable phones and accessories to sell. He says thank you to all Kiva lenders.
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