Client Relations
What are the Sources of Credit?
- FAQ
Commercial Banks
Relations
Money Lenders
Osusu Groups
Friends
Cooperatives
MFB (LAPO)
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What are the Reasons for Credit?
- FAQ
Lack of sufficient capital.
To push people up in their chosen businesses.
To raise the general standard of living.
To be financially self- reliant.
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What are the determinants of Cost of Service?
- FAQ
Rate of inflation.
Cost of fund (Capital).
Cost of Credit Delivery: Transportation to banks, Unions, Members,
Maintenance of Ledger
Cost of Labour.
Cost of IT Maintainance [Hardware and Software].
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What is Credit?
- FAQ
Credit is an external support (finance), which is added to already existing assets repayable with interest over a specific period of time.
Why interest on loan or cost of service?
- FAQ
Gives a sense of self-reliance by removing the aspect of charity.
Gives a sense of commitment and responsibility.
Sustainability.
Fights inflation.
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How do i use the credit granted by LAPO?.
- FAQ
What should one do with LAPO loan?
- It should only be spent on Income-Generating Activities [IGA]
- Repay it.
What LAPO credit granted should not be used for?
- FAQ
Ceremonies or parties.
Gambling.
Further lending.
Domestic purposes e.g. buying [clothes, food stuff and property at home]except in the case of consumption loan if applicable.
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What are the factors to consider when starting a new business?
- FAQ
However, anyone venturing into a business should not only depend on the ideas generated or his/her natural talent but should also consider the following factors:
1) The Market: The market consists of the people you want to sell your products to. I...