Energy loans are granted to clients to assist in affordable solar energy power for homes and commercial use. The equipment or asset serves both commercial and private use. Examples of such equipment are small solar lamp to full home system with television and radio set all powered by solar energy
LAPO Microfinance Company proposed to provide Solar Lights to those households by replacing the kerosene lanterns with solar lighting devices. This will provide better illumination and kerosene smoke free indoor environment thereby enhance productivity and quality village and, facilitate education of their children and improve
- Facility amount: Le 200,000 (minimum) to Le 20,000,000 (maximum)
- Methodology: Individual and Group
- Duration: 3 months to 1 year
- Grace period: 2 weeks to 1 month
- No collateral
- Cleaner environment
- Flexible repayment structure
- Low interest rate
- Must open a savings account with LAPO SL
- 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)
1. Q: Do I need collateral before I can access this loan?
A: : No, you do not need collateral before you can access the loan, once you can provide 2 guarantors that can stand for you in case of default.
2. Q: Can I reduce the repayment duration?
A:Yes. You can reduce the repayment duration to the number of months that suits you
3. Q: Is there any issuance on the loan?
A: The loan is insured against death, fire in the business place or disability.