Do you need money for yourself or for your business ? Lapo Loan is the right credit facility in Nigeria for all small, medium and large business owners. Lapo loan comes with a competitive rates that will suit your small or large business project.
Lapo Microfinance Bank
According to gabv.org, LAPO Microfinance Bank is an off-shoot of Lift Above Poverty Organisation (LAPO), which was initiated in the late 1980s as a pro-poor development institution committed to the empowerment of low income Nigerians through the provision of responsive financial services delivered on a sustainable basis.
Lapo Loan You Should Apply For
1. Lapo SME Loan
Irrespective of the sector your enterprise is operating, LAPO Microfinance Bank Loan is willing to support you with a credit facility of up to N5,000,000 to expand the enterprise.
There are other loans companies in Nigeria that also offer Instant cash loan for small and large business owners just like the Rosabon Finance Quick Loan, Renmoney Loan, Uba Bank Loan etc..
Does your business requires big loan for support? The LAPO Microfinance Bank “SME Loan” is a credit product designed specifically to support Small and Medium Scale Enterprises (SMEs) operators in Nigeria at an affordable Interest rate.
Features And Benefits Of Lapo SME Loan
√ Facility amount up to N5,000,000
√ Duration of 12 months
√ No collateral needed
√ Access of funds for business expansion
√ Flexible repayment structure
√ Expert Financial advice available
Requirements Needed To Apply:
1. Loan application letter
2. Daily completed application form
3. 2 guarantor
4. A valid proof of ID ( national ID, driver’s license, voter’s card or international passport)
5. Current utility bill
6. 4 recent passport photograph size passport.
How To Apply For Lapo SME Loan?
You can get started and apply for Lapo SME Loan online or contact them on 08139840230.
2. Lapo Agric Loan
Agriculture is the mainstay of any economy and is fundamental to the socio-economic development of any nation. This is why LAPO Microfinance Bank designed Agric Loan to finance the farming activities of individuals, group or corporate organisations. Their repayment schedule is designed to suit the seasonal nature of such activities.
Features And Benefits Of Lapo Agric Loan:
√ Facility range N50,000 minimum to N500,000 maximum
√ Duration of 1 – 12 months
√ Grace period 30 – 60 days
√ Prospective clients must be practicing farmer’s with verifiable evidence of existing farm evidence
√ No collateral required
√ Provides capital for farming activities
√ Flexible repayment plan
√ Low interest rate.
Documents Needed To Apply:
1. Daily combined application form
2. Current utility bill
3. 2 guarantor
4. 2 recent passport photograph size
5. A valid means of identification ( national ID, driver’s license or international passport).
3. Lapo Regular Loan
This loan product is designed to operate on a group (union) methodology. A union is a self-selected group of people who access loans individually, but have group guarantees. Lapo Regular Loan is created to help meet the working capital needs of clients that run small businesses.
Features And Benefits Of Lapo Regular Loan:
√ Facility amount from N30,000 to N150,000
√ Duration of 8 months
√ Charitable trusts
√ Grace period of 2 weeks
√ Repayment frequency is weekly
√ Client must belong to a group
√ No collateral required
√ Low interest rate
√ Access to funds for business expansion
Documents Required To Apply:
1. Daily completed application form
2. Current electricity bill
3. 2 recent passport photograph size
4. A valid ID card for verification
5. 2 guarantor
4. Lapo Asset Loan
Asset loan as the name implies is targeted to help existing clients of LAPO Microfinance Bank purchase assets such as generator, refrigerator, grinding machines etc. that will further enhance the productivity of their enterprise.
Features And Benefits Of Lapo Asset Loan:
√ Facility amount from N20,000 to N400,000
√ Duration of 11 months
√ Grace period of 11 months
√ No collateral required
√ Flexible repayment structure
√ Low interest rate
√ Expert financial advice available
Documents Needed To Apply:
√ Savings account with Lapo microfinance bank
√ Daily completed application form
√ 2 guarantor
√ Current utility bill
√ 2 recent passport photograph size
√ A valid means of ID for identification.
5. Lapo Education Loan
Education loan is a loan designed strictly for the payment of children’s school (Primary and Secondary) related expenses in Nigeria only.
Education loan is aimed at protecting the cash flow of clients’ businesses. This loan can be accessed by a client who is a member of a group (Union).
1. Education School Fees Loan is designed for economically active parents/guardians who have the willingness to educate their children in private schools.
This product is tailored to close the gap between the need of the child and what the parent can offer in regard to school fees/levies, uniforms, books and school bus fees.
Their loan start from 20,000 to 200,000 with a monthly repayment and grace period of 1 month.
2. Education School Improvement Loan is designed for school proprietors (low or medium income private schools, from Nursery to Secondary level), to improve their schools in terms of Increased learners enrolment & quality education.
The loan is structured around classification of school needs such as working capital, buildings improvement/renovation and procurement of fixed assests that enhances learning
The loan amount from 250,000 to 10,000,000 with a repayment mode termly, Grace period of 3 to 18 months and interest rate of 4% reducing.
6. Lapo Special Loan
LAPO Microfinance Bank Special loan product was developed to meet the credit needs of existing regular loan clients who require bigger loan sizes to strengthen their businesses.
The development of this product was necessitated by the fact that after funding regular loan clients for some time, their business activities expand to the point where they require higher loans to sustain their business. In the same vein these clients also require monthly loan repayment frequency as lapo special loan is more convenient for them.
Features And Benefits Of Lapo Special Loan:
√ Loan amount goes for 50,000 to 250,000
√ Duration of 6 months
√ Grace period of 1 month
√ No collateral needed
√ Flexible repayment structure
√ Low interest rate
Documents Needed To Apply:.
• You must have had an excellent repayment performance while accessing Regular Loan
• Duly completed application form
• 2 guarantors
• 2 recent passport-size photographs
• Current utility bill
• A valid means of ID (national ID, driver’s license, voter’s card or international passport).
7. Lapo Public Sector Loan
LAPO Public Sector Personal Loan is a product that offers personal loans through Payroll Lending to Civil Servants at the State and Federal levels. PSPL is deduction-based, as repayments due to LAPO Microfinance Bank are deducted at source before salary payments are made to obligors.
No personal Guarantor is required for this loan, however, with the acquisition of LAPO’s PS Salary Access Deduction Code, they are guaranteed of the monthly repayment as it is deducted at source.
Features And Benefits Of Lapo Public Sector Loan:
√ Facility range from N20000 to N3,000,000
√ Duration goes for 1 – 12 months
√ No personal guarantor is required for this loan
√ Client must be a civil servant under state or federal government establishment
√ No collateral
√ No bank account opening is required
√ Flexible repayment structure
√ Interest rate of 2.95% flat monthly
√ Quick loan in 6 hour’s.
Documents Needed Before You Can Apply:
1. Complete application form
2. Clients must have at least 2 year’s left in public service
3. 2 recent passport photograph size
4. Last 3 months payslips
5. Last 3 months statement of account
6. A valid ID for identification.
Application can be done through Lapo loan online application form and get Instant cash in Minutes.
Why Lapo Loan
Lapo Loan ReviewYou can enjoy the personalized service you need at LAPO Microfinance Bank, including long-term business financial planning and extended-hours access to their specialized business service team.
