The Lift Above Poverty Organisation Microfinance Bank as a financial institution that offers a variety of loan options for Small and Medium Enterprise.

LAPO Microfinance Bank gives small businesses and entrepreneurs access to these loans depending on which loan option best suits your business needs.

The interest rates are very flexible and the loans can be accessed through any of their branches.

LAPO Loans, Benefits and Requirements

LAPO MICROFINANCE SME LOAN

The SME Loan is targeted at supporting small and Medium Scale Enterprises (SMEs). The focus of your business is not a barrier, any business can apply for this loan. The loan amount is up to ₦5,000,000.

Benefits

  • Facility amount up to N5,000,000
  • Methodology: Individual
  • Duration: 12 months
  • No collateral
  • Access to funds for your business expansion
  • Flexible repayment structure
  • Training on basic financial management, business planning and customer relations
  • Expert financial advice available when you need it

Requirements

  • Loan application letter
  • Duly completed application form
  • Two guarantors
  • A valid means of ID (national ID, driver’s license, voter’s card or international passport)
  • Current utility bill
  • Four recent passport-size photographs

 

SMALL BUSINESS LOAN (SBL)

The Small Business Loan (SBL) is for small and medium scale entrepreneurs who require more funds to expand their business.

Benefits

  • Facility range: ₦50,000 (minimum) to ₦500,000 (maximum)
  • Methodology: Individual
  • Duration: 1-12 months
  • Grace period: 1 month
  • No collateral
  • Access to funds for business expansion
  • Access to other loan products
  • Flexible repayment structure
  • Training on basic financial management, business planning and customer relations
  • Low-interest rate
  • Expert financial advice available

Requirements

  • Loan application letter
  • Duly completed application form
  • Two guarantors
  • A valid means of ID (national ID, driver’s license, voter’s card or international passport)
  • Current utility bill
  • Four recent passport-size photographs

 

LAPO MICROFINANCE BANK AGRIC LOAN

The Agric loan is designed for Agripreneurs, farmers. It is aimed at financing the farming activities of individuals, group or corporate organisations. The repayment is designated to conform to the seasonal nature of farming.

Benefits

  • Facility range: ₦50,000 (minimum) to ₦500,000 (maximum)
  • Methodology: Individual, group and corporate
  • Duration: 1-12 months
  • Grace period: 30-60 days
  • Prospective clients must be practising farmers with verifiable evidence of existing farm investments.
  • No collateral
  • Provides capital for farming activities
  • Flexible repayment structure
  • Low-interest rates
  • Expert financial advice available

Requirements

  • Duly completed application form
  • Two guarantors
  • Two recent passport-size photographs
  • Current utility bill
  • A valid means of ID (national ID, driver’s license, voter’s card, international passport)

Visit any LAPO Microfinance Bank to apply for a loan.

Repayment Of LAPO Microfinance Loan

Repayment of the loan can be done at any LAPO Microfinance Bank branch