laidthrice:
Your calculation is wrong, the interest is per annum and if you go by the straight line method you only pay about 2.5% or 2.98% depending on the Loan you are accessing, do you actually think it is easy giving out collateral free loans to Nigerians? I bet you don't know.
The banks interest is the lowest you can get anywhere in Nigeria.

Go and appy for LAPO loan. Then you will knw better. Am an agent so u cant tell or teach me my job.

hotplate:


You're getting it quite wrong lapo collects 25% intrest of the total amount you borrowed over a period of 10 months. This intrest is then broken down to 2.5% monthly. What this means is if you borrow #80,000 from them you are to pay a total of 100,000 at the end of 10 months. this therefore translate to #10, 000 monthly. truth is if LAPO is still the cheapest intrest MFB in nigeria with their 2.5% monthly intrest over a period of 10months.

When last did u access a lapo loan? Alot has change due alot of economic factors.

Alexgman1:
When last did u access a lapo loan? Alot has change due alot of economic factors.

i work with with LAPO ngo so i that is what is obtainable as i speak

hotplate:

i work with with LAPO ngo so i that is what is obtainable as i speak

Wow! i dont knw wat to say.

my boss BP always rises by the time we are getting to month end he pays their loan back every 20th

4.8% per month or per annum?
Normal bank interest is per annum not per month.

Alexgman1:
Collect LAPO loan to boost your existing & profitable business not for paying your bills, rent, and debts if not, their 4.8% interest rate which is the lowest you can get from any financial institution or microfinance bank will be hard for u to pay back. Use your lapo loan for an existing & growing business not to start a business or spend on things like gadgets, electronics, shoes, clothes & bag or to pay your rent or finance an event. Its as simple as that! Lapo loan is a stimulator & support for a growing & profitable business to expand it to how you have always wanted it.

goody2019:
4.8% per month or per annum?
Normal bank interest is per annum not per month.

They collect their money weekly so until u av paid up the full amount u collected as loan. So u pay 4.8% of ur loan weekly within 8months not even a year. Lapo loan is paid within 8months not a year.

The way people are bashing LAPO Micro finance Bank you will think the bank hasn't done any positive impact, did you know that has delivered over 3, 000 scholarships to its client’s children and over 600 people benefited from its skills acquisition program?

AnonPoet:
The Founder of LAPO Microfinance Bank, one of Nigeria's award-winning microfinance banks, Dr Godwin Ehigiamusoe (Ph.D) has advocated using the TIET business model for young entrepreneurs when making their choice of business, to ensure success in Nigeria's tough business climate.

In a new video in his Entrepreneurship series geared towards educating the next generation of entrepreneurs, the finance guru spoke about how the TIET model can be used for lasting success in business, and also dwells on other topics including passion and profit.

TIET stands for Training, Interest, Experience and Temperament and Dr Ehigiamusoe dwells on how to use these four human skills to build sustainable enterprises.

Watch here:
https://www.youtube.com/watch?v=QYOikSzFhkg

http://Godwinehigiamusoe.com

Nigerians are very useless.
see dem bashing a bank that has won the best mfb consecutively for the past 6years in dis country!
if u r among those bashing dis wonderful bank of d downtrodden, as urself dis question, which company did my father, grand father, great grand father establish?
awon werey

AnonPoet:
The Founder of LAPO Microfinance Bank, one of Nigeria's award-winning microfinance banks, Dr Godwin Ehigiamusoe (Ph.D) has advocated using the TIET business model for young entrepreneurs when making their choice of business, to ensure success in Nigeria's tough business climate.

In a new video in his Entrepreneurship series geared towards educating the next generation of entrepreneurs, the finance guru spoke about how the TIET model can be used for lasting success in business, and also dwells on other topics including passion and profit.

TIET stands for Training, Interest, Experience and Temperament and Dr Ehigiamusoe dwells on how to use these four human skills to build sustainable enterprises.

Watch here:
https://www.youtube.com/watch?v=QYOikSzFhkg

http://Godwinehigiamusoe.com

Lapo dealt with Ibadan people.
Kai they collect loan go do owabem party
and could not pay back.
go lapo office
keke,okada etc jampack defaulters repossessed items
until
AB microfinance bank come to the rescue.
that one front na like market when it comes to the crowd.

Note AB microfinance get oversea financial backing eg from Netherland etc

TIET stands for Training, Interest, Experience and Temperament and Dr Ehigiamusoe dwells on how to use these four human skills to build sustainable enterprises.


Nigerian temperament is up and down

Alexgman1:
Collect LAPO loan to boost your existing & profitable business not for paying your bills, rent, and debts if not, their 4.8% interest rate which is the lowest you can get from any financial institution or microfinance bank will be hard for u to pay back. Use your lapo loan for an existing & growing business not to start a business or spend on things like gadgets, electronics, shoes, clothes & bag or to pay your rent or finance an event. Its as simple as that! Lapo loan is a stimulator & support for a growing & profitable business to expand it to how you have always wanted it.

4.8% per month or annually? This is how LAPO deceives unsuspecting customers. 4.8% monthly is almost 60% annually. Don't tell me it's 4.8% annually cos MPR which is d lending benchmark for financial institution is currently around 12%. LAPO can't lend at that 4.8% annually and be in business. Which business will pay dat outrageous rate and be in business not to talk of expanding.

U guys will just see one news and start saying this and that the people that borrow money knows that this money is to be paid and you think Lapo don't borrow money outside too and pay with big interest the fact remains that is the economy is mess up Lapo is not our problem good governance and good practice is what we lack in this country the genius Mr Godwin is a business man and the weakness of the government made him who he is today. And for ur information Lapo is more closer to the masses than the government take it or leave it.

mrsage:
I will like to connect with someone who works in a micro finance bank or has experience in the field.


Working on a project and need some ideas.

Kindly send a PM.

Thanks

i am working with a micro finance institution presently. send me a PM

Alexgman1:
Go and appy for LAPO loan. Then you will knw better. Am an agent so u cant tell or teach me my job.

Loan recovery officer

romenna:
Nigerians are very useless.
see dem bashing a bank that has won the best mfb consecutively for the past 6years in dis country!
if u r among those bashing dis wonderful bank of d downtrodden, as urself dis question, which company did my father, grand father, great grand father establish?

awon werey

Lol.... Loan recovery officer ... Well done