LAPO Microfinance Group – online loan Nigeria
LAPO microfinance loans from ₦30,000 to ₦150,000 for underserved communities.
Applying does not commit you to a loan agreement.
Screenshot of https://www.lapo-mfb.com
LAPO Microfinance Bank – Microloans for Low-Income Nigerians
LAPO Microfinance Bank Limited is one of Nigeria's largest microfinance institutions, with decades of experience serving low-income individuals, small business owners, and entrepreneurs who are excluded from formal banking. Originally founded as a non-governmental organisation in 1987 and later converted to a microfinance bank, LAPO is headquartered in Benin City, Edo State, and operates hundreds of branches across all 36 states of Nigeria. The institution is known for its group lending methodology and its commitment to financial inclusion.
LAPO offers individual and group solidarity loans from ₦5,000 to ₦500,000 for microentrepreneurs and salary earners. Agricultural loans and emergency credit products are also available. The application process is done at LAPO branches with assistance from field officers who regularly visit communities and markets. Group loans require the formation of a solidarity group of 5 to 20 members who guarantee each other's loans. Individual loans may require a guarantor and proof of business or income. Loan cycles are typically 3 to 12 months.
LAPO is licensed by the Central Bank of Nigeria (CBN) and is a member of the Nigerian Deposit Insurance Corporation (NDIC). The institution has won multiple awards for microfinance excellence and maintains a strong focus on social impact alongside financial performance. LAPO has partnerships with international development finance institutions and NGOs. If you are a low-income entrepreneur, market trader, or farmer who needs small-scale financing with community-level support, LAPO remains one of the best microfinance options available in Nigeria.
✓ Pros
- One of Nigeria's largest microfinance banks
- Nationwide presence (all 36 states)
- Group solidarity loans available
- Financial inclusion for unbanked Nigerians
- Decades of microfinance experience
✗ Cons
- Group loan model requires solidarity group
- Higher interest rates than commercial banks
- Branch-based application (no online option)
- Smaller loan amounts (up to ₦500,000)
Loan example
Representative example: A group loan of ₦50,000 per member over 6 months at the applicable LAPO rate. Contact your nearest LAPO branch for the current interest rate applicable to your loan product.
Loan requirements
- ✓ Valid ID (national ID, voter's card or passport)
- ✓ BVN
- ✓ Proof of business or income
- ✓ Solidarity group members (for group loans)
- ✓ Guarantor (for individual loans)
- ✓ Utility bill or proof of address
Loan features
- Individual and group solidarity loans
- Loans from ₦5,000 to ₦500,000
- Agricultural and emergency loan products
- Terms 3 to 12 months
- Nationwide branch network
- CBN licensed microfinance bank
Frequently asked questions
48 hours after submitting your application.
The minimum amount at LAPO Microfinance Group is ₦30,000.
How to log in and sign up to LAPO Microfinance Group
LAPO Microfinance Group is used through its official app and website (www.lapo-mfb.com). To sign up, download the official LAPO Microfinance Group app or open its website, then register with the details requested — usually your phone number and BVN — and complete the short verification. To log in, open LAPO Microfinance Group and sign in with the phone number or email you registered with. Never share your login code, OTP or PIN with anyone, and only use the official LAPO Microfinance Group channels.
LAPO Microfinance Group customer care and contact
For help with your account, repayments or complaints, contact LAPO Microfinance Group through the support options inside the official app or on www.lapo-mfb.com. LAPO Microfinance Group is operated by LAPO Microfinance Bank Limited. Be cautious of anyone asking for an upfront "processing", "clearance" or "insurance" fee before disbursement — legitimate lenders deduct any fees from the loan, never before it. You can also compare LAPO Microfinance Group with other lenders before you decide.