₦airaland Forum

grownaira:
Loan of N450, 000 needed to inject into my
business so as to increase production.


Nature of business: Vegetable oil Production.


Location: Kaduna


Offer: 30% interest on the loan amount.


Payment Mode: Monthly


Medium: Post Dated Cheques


Duration: 10 Months.


Thanks and best regards.


Contact: grownaira@gmail.com

grownaira:
grownaira@gmail.com

computerboy:
30%

Lapo micro finance gives loan at 2.5% interest spread over 8-12 months. No collateral, just bring 2 solid guarantors.

Visit any of their branch. Na expo I just give you.

Remii:
2.5% flat or monthly? Clarify

computerboy:
It's monthly but calculated all together.

Example if you want a loan of 100k spread over 8 months for you.

2.5% of 100k is 2500

For 8 months = 2500 x 8 = 20k

So the total money you're paying back is 100k + 20k interest = 120k

But their payments is monthly so they'll divide the 120k for the 8 months which is 15k

So every month(for 8 months) you're to pay 15k for a loan of 100k.

Hope you grab

grownaira:
2.5% monthly for 8 months makes 20%, and for 10 months makes 25%.

computerboy:
Still ok if you ask me. By the way, commercial banks loan is still monthly at 15-20% so choose

computerboy:
Still ok if you ask me. By the way, commercial banks loan is still monthly at 15-20% so choose

Carmal90:
pls can a guy or man apply for this LAPO ?