The sale of food is a business that is lucrative, Philomena O. tells us. She is thirty-eight years old and married with four children. She learned the business of selling food for a year before starting her own business in 2002. If there are more funds available, she will be able to buy more food to sell in larger quantity. She needs a loan of $700 to buy more bags of rice and beans.
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