Asset Loan
Asset loan as the name implies is targeted to help existing clients of LAPO Microfinance Company purchase assets such as generator, refrigerator, grinding machines etc. that will further enhance the productivity of their enterprise.
Features
Facility range: Le 1,200,000 (minimum) to Le50,000,000 (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
Low interest rate
Expert financial advice available
Documentation Required
Savings account with LAPO Microfinance Company
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)
FAQ
1. Q: Does LAPO Microfinance 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?
A: Yes.
3. Q: Will LAPO Microfinance provide me the money to purchase the asset?
A: No. LAPO Microfinance will purchase the asset(s) on your behalf.