Last updated on September 8th, 2023 at 09:35 pm
Microfinance lending simply means providing financial services for individuals who don’t have access to financial services from conventional financial institutions, like banks. Basically, a microfinance lending institution like Lapo offers loans to people who were formerly considered unbankable by traditional banking institutions. Read further to learn how to access a Lapo personal loan in a few steps.
A personal loan is a specific amount of money you have access to borrow and use for numerous purposes. Basically, the Lapo personal loans product offers you access to instant credit of up to N500,000 for your personal use. You can use this money to take care of your personal needs or run your business. Also, this loan is collateral free and this makes it easily accessible to the underbanked population in Nigeria.
To apply for a personal loan from this microfinance bank, follow these instructions:
1. Visit the nearest Lapo branch around you
2. Next, request for a personal loan application form
3. Lastly, fill out the application form given to you, attach the necessary documents to the completed form, and submit it.
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The general requirements to apply for a personal loan from this financial institution are
1. Loan application letter.
2. 4 recent passports.
3. 2 guarantors.
4. Duly completed application form.
5. A valid means of ID
6. Current utility bill.
Lapo can borrow customers up to N5,000,000 or more depending on the outcome of its customer assessment. Essentially, the higher your net worth and income source as an individual or customer, the higher the amount of loan they are willing to grant you.
Lapo loan processing takes a minimum of 24 hours and could span up to 72 hours before approval. Higher loan amounts can take more days like up to a week before disbursement.
The USSD Banking code for Lapo is *371#. Basically, with this code, you get instant access to their services through your smartphone. Just dial *371# to access these services at your convenience.
Interesting Read: 8 Smart Ways To Use A Personal Loan
Here are the numerous ways that you can contact Lapo microfinance bank:
Head Office Address: LAPO Place, 15A Ikorodu-Ososun Road, Lagos State.
Annex Office Address: 18, Dawson Road, Benin City, Edo State.
Phone Number: +(234) 813 984 0230
WhatsApp Number: 081 5055 3264
Email Address: firstname.lastname@example.org
Lapo personal loans are available to the underbanked population in Nigeria. Also, they are collateral free, hence, you can access them with ease. In case you need to get a loan for business or any other personal use, be sure to visit the Lapo branch closest to you and apply for one.
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