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Nairaland Forum / Nairaland / General / Business / Is It Advisable To Take Lapo Microfinance Loan For A Business (5216 Views)
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Is It Advisable To Take Lapo Microfinance Loan For A Business by NairalandFAYOSE(m): 7:43am On Apr 10, 2018 |
I have heard countless negative stories about the lapo microfinance bank loan from people around me but its been praise over praise on their Twitter and Facebook page . I want to hear from guys here who has done biz with them before if its good to take loan from them or look elsewhere |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by IdeyFindWife: 7:58am On Apr 10, 2018 |
Their t&c, interest rate & recovery method is not often healthy; they will be a major distraction to you sooner or later except your biz is a low level petty biznes like BB, dry foodstuffs retailing, fruits selling etc. Make other findings, see if you could source your funding from more relaxed or liberal sources. You could even consider partnership or bringing in investing bodies into your fishing sturvs m structure on permanent or temporary basis. Especially when this capital financing effort is not geared towards expanding an already thriving business base, overcoming the recession assisted inertia may be too much of an effort for you on your virgin venture. 1 Like |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by ellapius(f): 8:22am On Apr 10, 2018 |
Pls dont |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by powerkey: 8:22am On Apr 10, 2018 |
Don't try it if you love yourself and want to maintain your integrity. Your life will be messed up if you do it.... Pls don't. 1 Like |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by koyeni(m): 8:26am On Apr 10, 2018 |
No try am 1 Like |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by NairalandFAYOSE(m): 8:27am On Apr 10, 2018 |
ellapius:why did you say so |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by NairalandFAYOSE(m): 8:28am On Apr 10, 2018 |
koyeni:any reason why you said so? |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by NairalandFAYOSE(m): 8:30am On Apr 10, 2018 |
powerkey:have you had any experience with them before. if yes, tell me about it pls before I go into it |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by jefy(m): 9:28am On Apr 10, 2018 |
If it's a new business,it's a No No. If an existing one, why not if u can put up a plan to meet up weekly payments. Pardon their aggresive repayment method,Nigerian's are very slow to debth repayment. 1 Like |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by powerkey: 4:16pm On Apr 10, 2018 |
NairalandFAYOSE: Bros, don't think of it at all. |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by koyeni(m): 9:51pm On Apr 10, 2018 |
NairalandFAYOSE:My neighbour tried it at a point n they frustrated her in trying to get d money bk |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by brownlord: 12:21am On Apr 11, 2018 |
There is a reason getting a loan to finance a startup is not advisable, your new business need time to stabilize, if you are entirely new to the business, you need time to master the tricks, products and build your customer base, all of these can take time, meanwhile micro finance only have weekly/monthly loan repayment plan, though they usually give the first week/month as grace period, you will need to start paying back immediately you get loans as loans given to you is tied to the credit officer ( micro finance staff ) that approve the loan for you, hence they do everything within their power to recover their loan. My advise, don’t get a loan to start up a business. 2 Likes |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by FoddsCapital: 10:52am On Apr 11, 2018 |
NairalandFAYOSE: Most businesses have thrived on Aid from Finance Houses. Sadly, it it also true some finance houses drain and kill MSMEs with their practices. However, times are changing and more institution offer new and better ways to help MSMEs. Visit https://aid.foddscapital.com/login |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by iamalfry(m): 11:52am On Apr 11, 2018 |
Need an urgent loan to fix up some things a? Do you have an automobile or jewelry that is worth the amount you want? Not too worry cos we have got you covered. Contact Collateral loans on Whatsapp:07062208029 Call: 08029583751 Let us come to your ResQ Office Location is Ikeja Lagos Pls be aware that we charge interest on monthly basis & the Collateral would be in our custody during the period of the Loan |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by ultron12345: 8:02am On Apr 13, 2018 |
jefy:please,what is this their "aggressive repayment method" like. If someone is unable to payback the loan, what will they do to that person. |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by jefy(m): 11:03am On Apr 13, 2018 |
ultron12345:*aggresive calls if your repayment rate is poor *crowd visitation at your business place which can be embarrassing *your properties could go in for unpaid loans etc |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by iamalfry(m): 2:33pm On Sep 10, 2018 |
NairalandFAYOSE:Get a loan facility Let's help you expand your business and save you the from the stress of the recession. contact us today.All you need is a collateral which could either be an automobile(car) or jewellry(gold or diamond).Collateral Limited, lending is our business. please call 08029583751 or Whatsapp 07062208029 for more details... |
Re: Is It Advisable To Take Lapo Microfinance Loan For A Business by iamalfry(m): 2:34pm On Sep 10, 2018 |
NairalandFAYOSE: Get a loan facility Let's help you expand your business and save you the from the stress of the recession. contact us today.All you need is a collateral which could either be an automobile(car) or jewellry(gold or diamond).Collateral Limited, lending is our business. please call 08029583751 or Whatsapp 07062208029 for more details... |
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