Lapo, a microfinance lending institution, is changing the game by providing financial services to individuals who were previously considered unbankable by traditional banks. With Lapo Personal Loans, you can access instant credit of up to N500,000 for your personal or business needs. What’s even better, these loans are collateral-free, making them easily accessible to the underbanked population in Nigeria. Here’s how you can apply for a Lapo personal loan in a few simple steps.
An Overview of Lapo Personal Loan
A personal loan is a fixed sum of money that you can borrow and use for various purposes. Lapo’s personal loans offer you quick access to funds for your individual needs or business ventures. The absence of collateral makes these loans an attractive option for many in Nigeria who may have limited access to traditional banking services.
How to Apply for a Lapo Personal Loan
Follow these straightforward steps to apply for a personal loan from Lapo:
- Visit the Nearest Lapo Branch: Start by locating the nearest Lapo branch to your location. You can often find these branches in various cities and towns across Nigeria.
- Request an Application Form: Once you’re at the branch, ask for a personal loan application form from the bank staff.
- Complete the Application Form: Fill out the application form provided to you and attach all the necessary documents required for your loan application.
- Submit Your Application: After completing the form and gathering the required documents, submit your application to the bank for processing.
Documents Needed for a Lapo Personal Loan
To apply for a Lapo personal loan, you typically need to provide the following documents:
- Loan application letter.
- Four recent passport photographs.
- Two guarantors.
- Duly completed application form.
- A valid means of identification (e.g., driver’s license, national ID card, or international passport).
- Current utility bill as proof of residence.
Loan Amount and Assessment
Lapo can lend customers up to N5,000,000 or more, depending on the outcome of their assessment. Your loan amount is determined based on factors such as your net worth and source of income. Generally, the higher your financial stability and income, the larger the loan you can access.
The processing time for Lapo loans typically ranges from a minimum of 24 hours to a maximum of 72 hours before approval. For higher loan amounts, it may take up to a week before the funds are disbursed.
USSD Banking with Lapo
To access Lapo’s services conveniently through your smartphone, you can use the USSD banking code: *371#. Dialing this code allows you to access Lapo’s services on the go.
If you need to reach out to Lapo for inquiries or assistance, you can use the following contact information:
- 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: [email protected]
- Website: www.lapo-nigeria.org
Lapo Personal Loans are designed to cater to the financial needs of the underbanked population in Nigeria. With no collateral required, these loans are easily accessible. Whether you need funds for your business or personal use, visit the nearest Lapo branch to apply for a loan.
You can also explore comprehensive loan options tailored to your specific needs by using our platform, allowing you to compare loans from different lenders across Africa and secure the best option for your financial journey. Don’t let your financial goals slip away—Lapo is here to help you achieve them.