Hey guys, this article is about Lapo Microfinance Bank. in this article am going to share with you, everything you need to know about Lapo Microfinance Bank.
So let get started!
What Is Lapo Microfinance bank?
Lapo Microfinance bank is one of the most recognised and used Microfinance Banks in Nigeria and in 2012 was licensed to function as a nationwide Microfinance financial institution by the CBN.
Additionally, the Microfinance bank presents loans and credit score services to swimsuit people and small-scale companies with out contemplating their credit score scores.
Lapo Microfinance bank offer inexpensive merchandise for patrons and set rates of interest that people can deal with simply. In essence, they’re banks that present particular companies for people who can’t get loans from common banks on the premise of a number of unachievable necessities.
Mainly, there are a selection of Microfinance banks that offer merchandise that meet your wants and one among them is the Lapo Microfinance bank.
What Merchandise Ddoes Lapo Microfinance Bank Offer?
1. SME plan
The Microfinance financial institution ‘SME loans’ is a credit score product particularly designed to assist Small and Medium Scale enterprise (SMEs) operators in Nigeria. Lapo MFB willingly helps people with credit score services as much as 5 million naira for enterprise growth.
They provide loanchoices as Common loans the place people type a bunch to entry the funds. That is particularly focused at small enterprise homeowners. In addition they supply schooling loans the place funds strictly are for college charges fee of main and secondary faculties alone.
2. Financial savings Plan
A number of people have tasks to execute and the Lapo Microfinance bank has designed Financial savings plan Account for patrons, people, and teams to save lots of funds the place they will save funds in the direction of their particular tasks for a specified time frame. Their financial savings account will generate curiosity in buyer funds.
Benefits of Lapo Microfinance bank?
- No collateral is required on mortgage requests.
- Additionally, there’s quick access to funds for enterprise growth.
- It upholds a versatile reimbursement construction.
- Lastly, they function with a low rate of interest.
Disadvantages of Lapo Microfinance bank?
- The financial institution limits particular person loan companies as they typically function group loans as an alternative.
- There’s the necessity for guarantors.
- Loans merchandise final for optimum of a 12 months.
Lapo Microfinance Bank Requirements?
- Loans application letter.
- Duly accomplished application type.
- 2 guarantors.
- Valid ID (either driver’s license, voter’s card or international passport)
- Present nepa bill.
- And 4 passports.
You’ll be able to contact them by reaching out to:
- Telephone: 08139840230, 09053955992, 09056539824, 08150894171 or 09053955965.
- Head Office address: Irorun Plaza, 2nd Ground, Kudirat Abiola Means, Oregun. P.M.B. 1729, Ikeja, Lagos State.
- E-mail: firstname.lastname@example.org
Lapo Microfinance Bank is not a new company, they have been licensed by the central bank of Nigeria (CBN). now in Nigeria, they are one of the most recognised and used Microfinance Banks in Nigeria.
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