Adenike is 39 years old and a single mother of two children. She is a member of LAPO Microfinance. Adenike is a hair dresser, and she has a salon where she styles hair and sells hair extensions and hair cream. For over 14 years now she has been running the business. One of her greatest joys is the one-on-one interaction she is able to have with her customers. She is requesting a loan amount of NGN 70,000 to improve her business and purchase more hair extensions and hairdressing accessories to sell.
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