Asset Loan

Asset loan as the name implies is targeted to help existing clients of LAPO MfB purchase assets such as generator, refrigerator, grinding machines etc. that will further enhance the productivity of their enterprise.

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Features

  • Facility range: N20,000 (minimum) to N400,000 (maximum)
  • Methodology: Individual and group
  • Duration: 11 months
  • Grace period: 1 month

Benefits

  • No collateral
  • Quick access to funds for the purchase of business assets
  • Flexible repayment structure
  • Flexible repayment structure
  • Low interest rate
  • Expert financial advice available

Documentation

  • Savings account with LAPO MfB
  • Duly completed application form
  • 2 guarantors
  • 2 recent passport-size photographs
  • Current utility bill
  • A valid means of ID (national ID, driver's license, voter's card or international passport)

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Premium customer support

Enjoy the personalized service you need at LAPO Microfinance Bank, including long-term business financial planning and extended-hours access to our specialized business service team.

  • One combined monthly statement for all of your business accounts 
  • Extended-hours access to our specialized business service team