Reviews
Business Loans Updated: 07. 10. 2026

LAPO Microfinance Bank Loans – review 2026

4,0 / 5

LAPO Microfinance Bank is one of the largest microfinance banks in Nigeria, serving low and middle-income individuals and small businesses since 1987. LAPO is regulated by the Central Bank of Nigeria and focuses on financial inclusion by providing credit to borrowers outside the formal banking sector.

Pros

  • CBN-licensed microfinance bank with formal regulatory oversight
  • More flexible documentation requirements than large commercial banks
  • Serves salaried employees, traders and self-employed borrowers alike
  • Loan officers often provide guided, in-person application support

Cons

  • Interest rates are generally higher than commercial bank personal loans
  • Smaller branch footprint than the major commercial banks
  • May require guarantors or group liability for some loan products

LAPO Microfinance Bank Loans is offered by LAPO Microfinance Bank, a microfinance bank licensed and supervised by the Central Bank of Nigeria under the microfinance banking guidelines. Microfinance banks exist to extend credit to individuals and small businesses who may not meet the stricter documentation requirements of commercial banks. LAPO has served low and middle-income Nigerians since 1987, with a strong financial-inclusion mandate.

Who it suits

Loan sizes offered through LAPO Microfinance Bank typically fall between ₦20,000 and ₦2,000,000, with interest rates generally in the 24%–40% range, reflecting the higher operating cost and risk profile of microfinance lending compared with commercial banks. Rates and fees vary by loan tenor and applicant credit profile, so confirm the current offer directly with the lender before accepting.

Requirements

  • Valid government-issued ID and Bank Verification Number (BVN)
  • Proof of a steady income source, salary slip or trade records
  • Completed loan application form and, in some cases, a guarantor
  • Passport photographs and proof of residential address
  • Applicant typically aged 18 to 60 years

Provider contacts

Website
Online application
Apply now →
Regulator
Central Bank of Nigeria (CBN)

Information in this review is based on publicly available sources and is for informational purposes only. Finatino.com is not a financial product broker. Before signing any contract, we recommend reading the provider's terms and conditions.