Lift Above Poverty organisation(LAPO) is an organisation geared towards eradicating poverty in Nigeria through small loans that requires no collacteral to businesses.
  Founded in the nineties with Ehigiamuson an Edo man as managing director,LAPO has grown to become a leader in small lending above other micro finance banks.With head office along Dawson road in BeninCity,the Edo state capital and commercial hub,LAPO has numerous branches littered all over Benin
and other states of Nigeria inclusive.
  If you are a small business owner having an existing business which is running,then here comes the opportunity to grab inorder to expand your business.
  LAPO loans are soft loans tailored to suit small businesses to grow in a way that they are able to pay back in small instalments weekly or monthly without much burden.

  WHO IS THE LOAN MEANT FOR?
  Anyone having an existing and running business.

  WHO SHOULD NOT TAKE THE LOAN?

* Anyone not having a business

* Anyone just starting a business

  WHAT IS THE INTEREST RATE?

  2.2% monthly

  WHAT ARE THE CATEGORIES?

*Individual loans

*Collective loans

  WHAT IS INDIVIDUAL LOAN?

  You access this loan by walking to any LAPO office,request for the amount,leave the rest to them.

  REQUIREMENT FOR INDIVIDUAL LOAN

*10% deposit of the amount you want to take.
*Passport photographs
*Two guarantors(Civil servant and a business person)
*Duely filled loan and guarantors form
*Valid identity card

  REPAYMENT FOR INDIVIDUAL LOAN
* Monthly instalment including savings for ten months.

WHAT IS COLLECTIVE LOAN?

 This is accessed by joining any LAPO union.

  HOW DO I JOIN A UNION?

 Walk into any LAPO office and asked to be linked to any of their unions

 ADVANTAGES OF UNION
*Loan accessment is swift,within three weeks.
*You relate with your leader directly,not LAPO
*Payment is weekly instalment

 DISADVANTAGE OF UNION
 The amount of loan to access is limited to a fixed start.

  



SOURCE:http://frankenabulele..nl/2015/07/how-to-access-non-collateral-business.html?m=0

How effective is this?

chiibekee:
How effective is this?

Please explain further

brimicx:



Please explain further

what if the person is not a business owner but can pay the loan comfortably. lets say he gets 100000 and can pay 10k montgly fir 10months