A TYPICAL NIGERIAN BORROWS MONEY WITH THE INTENTION NOT TO PAY BACK.

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.

Is the 4.8% interest rate monthly or annually?

remi1444:
I heard LAPO C.Os are given extensive presentation on how to molest a debtor. I pray that LAPO should be my last alternative out of messed up situation.

VickypediaPHC:
LAPO: Loan sharks

Mrlouis:
LAPO don fall some men hand sha

zubby29:
I am yet to c 1 person dat succeeded with there loan

JaneYave:
Everyone suggests what is profitable to them and make it look like it will help others.

obonujoker:
Many petty traders have had their businesses going down because of LAPO loans

blinking001:
This LAPO guys are wicked o

To you all above, just borrow someone your personal money and see the attitude that follows thereafter, this will tell you the mindset most Nigerians have towards payback.

post=98688137:

Na borrower wey no wan gree pay back fall dem hands by dem sef......okay?

Exactly, borrowers are very unprincipled, reasons for their lack of ability to payback: loan diversion, insincerity & lack of payback plans and ignoring all the training they will receive before accessing the loans. You only need loans to increase existing profiting business and not for startup, bills, gambling, etc. And no financing body will grant you loan without accessing your ability to payback via the business you projected. And lastly they don't know LAPO also source the money via different means and they are to equal do a refund, this means when they listen to stories they automatically go out of business.
Agreement is agreement and business is business.

LAPO is a crazy and deadly microfinance bank. I wonder why people are patronizing them. People will share and narrate their experience with LAPO how bad they are and some people will still go ahead to collect money from them. Are they the only microfinance in Nigeria. Think twice people!

Opybid:
LAPO is a crazy and deadly microfinance bank. I wonder why people are patronizing them. People will share and narrate their experience with LAPO how bad they are and some people will still go ahead to collect money from them. Are they the only microfinance in Nigeria. Think twice people!

Read my above comment

post=98688127:

.......and is that supposed to be their fault?!
Borrow loans for business and pay it back.
Simple!
Nigerians and their 'dem don kill me finish ooo' mentality sef.

Agreement is Agreement.

You said you needed money/capital for business,
Someone borrowed you the money with a percentage and agreement of when you will pay back, and they never forced you to go ahead with the loans.
You said okay, you agreed.
So what is the problem here?

Later, we go dey hear from una say na d red curtain wey dey one of dem office or the black pen dem dey use in dere offices no let people wey borrow from dem succeed.
Nothing wey person no fit hear for dis our darling country.

Lol, no one said they forced them with the loan but should we talk about how the system forced them?
The Lapo loan is the last thing one should resort to, because they’ve been killing thousands of Nigeria with hypertension since 1720

DenreleDave:
So na this man get lapo wet WAn destroy people lives with big interest on small loans

He no destroy people na people dey pass boundary. Essence of you borrowing is for you to have plan and do market survey before venturing into it. Some takes loan for burial, naming and others. Have you tried lending to anybody around you, if you lend and they start excuse you will know ppl are their own problem

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.

God bless you

They trap you with easy process. The idea of refunding loan daily is like giving out your turn over daily. You can't blame LAPO 100%.The Nigerian mindset concerning loan repayment is deadly. Have you ever lend money on trust to a close Friend or neighbor?

Everyone suggests what is profitable to them and make it look like it will help others.

REUBEN010:


Is the 4.8% interest rate monthly or annually?

4.8% interest rate means whatever u are collecting as loan u pay back just 4.8% of the money weekly within 8months.

For example if u collect a loan of #100,000 you will be paying 4.8% of #100,000 weekly for which is #4,800 dat is #19,200 monthly.Then at the end of the 8month when you av completed your loan payment they will save #20,000 for u and they will collect #40,000 as their interest

b0rn2fuck:
I remembered when my neighbour dey always run away from LAPO as early as 6 am in the morning, the next plan ,the LAPO come as early as possible, even before she come out, the woman stay in door and lapo no gree go, dem even chop for door of the woman, na hunger send that woman out by force later

Alexgman1:
4.8% interest rate means whatever u are collecting as loan u pay back just 4.8% of the money weekly within 8months.

For example if u collect a loan of #100,000 you will be paying 4.8% of #100,000 weekly for which is #4,800 dat is #19,200 monthly.Then at the end of the 8month when you av completed your loan payment they will save #20,000 for u and they will collect #40,000 as their interest

Can the borrower pay 19,200 Monthly instead of paying 4,800 weekly?

Hmmmm

God forbid bad thing

I pray that even my worst enemy should not be broke to the extend of taking their LAPO loan


May Allah enrich us to pay our debts,distance us from any bad loan and bless our hustle aameeen

It's those LAPO guys that can handle Nigerians. Very tough when recovering loans, if you sign as guarantor and the person defaults they will so call you ehn.

It helps those petty traders though, they even hold meetings sef.

pls how does one apply for a LAPO loan . location is Ibadan, I run a hotel business and need only 150,000 naira

the 4.8 percent interest rate is too good to be true

please can anyone help

whytediamond:
If you don't plan your finances well, stories like the ones above abound.

LAPO Microfinance bank has stood the test of harsh economic time. They keep expanding because they solve people's problems.

You are certainly right.


However, @ www.lifesolutions.network, we created a Solutional portal around the issues of Afrikans getting High Interest Loans.

We developed a portal called Cryptoloans that helps Local Business Owners get CONNECTED to International Investors without the hassle of having Collaterals or paying High Interests.


There are alot of International Investors who are ready to finance people's project, they are ready to finance Real Life Projects that will enrich themselves and the business owners they are supporting.



Please note: Our Portal doesn't give out loans. What we do is to SIMPLY CONNECT Local Business Owners who needs loans to expand their businesses with International Investors with the aid of Cryptocurrencies.


If you are in business and you are ready to get connected to international Investors, then visit www.lifesolutions.network/crypto-loans to learn more.




Best Regards.

whytediamond:
If you don't plan your finances well, stories like the ones above abound.

LAPO Microfinance bank has stood the test of harsh economic time. They keep expanding because they solve people's problems.

You are certainly right.


However, @ www.lifesolutions.network, we created a Solutional portal around the issues of Afrikans getting High Interest Loans.

We developed a portal called Cryptoloans that helps Local Business Owners get CONNECTED to International Investors without the hassle of having Collaterals or paying High Interests.


There are alot of International Investors who are ready to finance people's project, they are ready to finance Real Life Projects that will enrich themselves and the business owners they are supporting.



Please note: Our Portal doesn't give out loans. What we do is to SIMPLY CONNECT Local Business Owners who needs loans to expand their businesses with International Investors with the aid of Cryptocurrencies.


If you are in business and you are ready to get connected to international Investors, then visit www.lifesolutions.network/crypto-loans to learn more.




Best Regards.

TinubuGoQuench:
Hehehehe
Na to run when you hear of LAPO interest rates!

You are certainly right.


However, @ www.lifesolutions.network, we created a Solutional portal around the issues of Afrikans getting High Interest Loans.

We developed a portal called Cryptoloans that helps Local Business Owners get CONNECTED to International Investors without the hassle of having Collaterals or paying High Interests.


There are alot of International Investors who are ready to finance people's project, they are ready to finance Real Life Projects that will enrich themselves and the business owners they are supporting.



Please note: Our Portal doesn't give out loans. What we do is to SIMPLY CONNECT Local Business Owners who needs loans to expand their businesses with International Investors with the aid of Cryptocurrencies.


If you are in business and you are ready to get connected to international Investors, then visit www.lifesolutions.network/crypto-loans to learn more.




Best Regards.

Alexgman1:
4.8% interest rate means whatever u are collecting as loan u pay back just 4.8% of the money weekly within 8months.

For example if u collect a loan of #100,000 you will be paying 4.8% of #100,000 weekly for which is #4,800 dat is #19,200 monthly.Then at the end of the 8month when you av completed your loan payment they will save #20,000 for u and they will collect #40,000 as their interest

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.

adonainana:
pls how does one apply for a LAPO loan . location is Ibadan, I run a hotel business and need only 150,000 naira

the 4.8 percent interest rate is too good to be true

please can anyone help

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.

Alexgman1:
4.8% interest rate means whatever u are collecting as loan u pay back just 4.8% of the money weekly within 8months.

For example if u collect a loan of #100,000 you will be paying 4.8% of #100,000 weekly for which is #4,800 dat is #19,200 monthly.Then at the end of the 8month when you av completed your loan payment they will save #20,000 for u and they will collect #40,000 as their interest

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.

adonainana:
pls how does one apply for a LAPO loan . location is Ibadan, I run a hotel business and need only 150,000 naira

the 4.8 percent interest rate is too good to be true

please can anyone help

www.lapo-nigeria.org that's thier website, it has a branch directory

Cleanworld:


LAPO should have being a good model for SMEs banks but their reputation doesnt tally with banking solution for the masses and in other hands it wouldn't have survived at all without that reputation because iron fits works best in naija.

My2cent

You are certainly right.


However, @ www.lifesolutions.network, we created a Solutional portal around the issues of Afrikans getting High Interest Loans.

We developed a portal called Cryptoloans that helps Local Business Owners get CONNECTED to International Investors without the hassle of having Collaterals or paying High Interests.


There are alot of International Investors who are ready to finance people's project, they are ready to finance Real Life Projects that will enrich themselves and the business owners they are supporting.



Please note: Our Portal doesn't give out loans. What we do is to SIMPLY CONNECT Local Business Owners who needs loans to expand their businesses with International Investors with the aid of Cryptocurrencies.


If you are in business and you are ready to get connected to international Investors, then visit www.lifesolutions.network/crypto-loans to learn more.




Best Regards.

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

[quote author=zubby29 post=98688100]I am yet to c 1 person dat succeeded with there loan[/quote

So many people did . I know a woman in my street who was selling fried yam , she took a loan from lapo and upgraded her business . She now sells drinks in crates

zubby29:
I am yet to c 1 person dat succeeded with there loan

This is not true... So many persons are doing well with their loan. People who find it difficult to return their loans are those who didn't use the money for business

you don't plan your finances well, stories like the ones above abound.

LAPO Microfinance bank has stood the test of harsh economic time. They keep expanding because they solve people's problems.


Lapo agent sighted... Awon werey.

Most Nigerian see easily accessible loans as an easy way out especially when it made less formal for micro-businesses to be able to easily access them., forgetting that the consequences of defaulting is the same.

post=98688127:

.......and is that supposed to be their fault?!
Borrow loans for business and pay it back.
Simple!
Nigerians and their 'dem don kill me finish ooo' mentality sef.

Agreement is Agreement.

You said you needed money/capital for business,
Someone borrowed you the money with a percentage and agreement of when you will pay back, and they never forced you to go ahead with the loans.
You said okay, you agreed.
So what is the problem here?

Later, we go dey hear from una say na d red curtain wey dey one of dem office or the black pen dem dey use in dere offices no let people wey borrow from dem succeed.
Nothing wey person no fit hear for dis our darling country.

I am sure a lot of deligent pple are leveraging on LAPO loans to push their businesses further, but you see those ones shouting here and there, ask many of them how they used the funds and you will be surprised as to what and how they expended it.

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

Mainblockent:
Most Nigerian see easily accessible loans as an easy way out especially when it made less formal for micro-businesses to be able to easily access them., forgetting that the consequences of defaulting is the same.

You are 100% correct sis.
It is in the blood of an average Nigerian.