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.
- Facility range: N20,000 (minimum) to N400,000 (maximum)
- Methodology: Individual and group
- Duration: 11 months
- Grace period: 1 month
- No collateral
- Quick access to funds for the purchase of business assets
- Flexible repayment structure
- Low interest rate
- Expert financial advice available
- 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, voters registration card or international passport)
1. Q: Does LAPO MfB finance fairly used assets?
A: No. Only new assets are financed
2. Q: Do I need to open a savings account to enable me access this loan?
3. Q: Will LAPO MfB provide me the money to purchase the asset?
A: No. LAPO MfB will purchase the asset(s) on your behalf.