Do you want to apply for a loan from Lapo? Do you have the necessary information to secure a loan from this organization? If you are not sure, then you have stumbled across the perfect article, because that is what I will be letting you know in this content. However, before we start, let me tell you a few things about Lapo.
Firstly, Lapo is a microfinance bank that provides various types of loans to people who need them. Furthermore, with Lapo Bank, you will be able to access the loan and funds you need to fund and grow your business. What’s more, there are a range of loans for you to access, so it is up to you to figure out what type of loan you need and which to apply for.
Nevertheless, the purpose of the Lapo Bank is to provide financial services to standard financial institutions. So, in this blog post, I will be showing you how to apply for a personal loan from this financial institution. In addition, read to the end to find out what you will need to apply for and how to apply for a loan from them.
Types of Loans from Lapo Microfinance Bank
As mentioned earlier, the Lapo Microfinance Bank provides various types of loans to borrowers. They include:
- SME Loan.
- Regular Loan.
- Education Loan.
- Asset Loan.
- Special Loan.
- Public Sector Loan.
- Agricultural Loan.
So, these are the loan products available at Lapo. Various individuals will then choose what type of loan they need and apply for it.
Requirements To Apply for a Lapo Loan
Before you can secure a loan from Lapo, there are certain requirements that you will need to meet. Furthermore, every loan has its own requirements, but they all have something in common. Nevertheless, I will be showing the requirements required to secure any type of loan from Lapo.
SME Lapo Loan
Here are the requirements you need to meet to apply for an SME Loan from Lapo Microfinance Bank:
Requirements:
- legitimate means of identification.
- 2 Guarantors.
- Loan application letter
- 4 current passport photographs
- The Completed application form
- Recent electricity bill.
And that is all you need to secure an SME loan from the Lapo Microfinance Bank.
Regular Loan
Here are the requirements you need to meet to apply for a Regular Loan from Lapo Microfinance Bank:
Requirements:
- 2 guarantors.
- The Completed application form
- Current NEPA bill.
- 2 current passport photographs
- Valid means of identification (driver’s license, voter’s card, National ID, etc.)
And that is all you need to secure a Regular loan from this Microfinance Bank.
Education Loan
Here are the requirements you need to meet to apply for an education loan from Lapo Microfinance Bank:
Requirements:
- The Loan’s application letter
- Valid identification means
- Current electricity bill.
- Completed application form.
- 2 guarantors.
- 4 recent passport photographs.
And that is all you need to secure an Education loan from this Microfinance Bank.
Asset Loan
Here are the requirements you need to meet to apply for an Asset Loan from Lapo Microfinance Bank:
Requirements:
- Excellent repayment fulfillment during the span of your regular LAPO Microfinance loans.
- Valid means identification.
- Completed application form.
- 2 guarantors.
- Current utility bill.
- 2 recent passport photographs.
And that is all you need to secure an Asset loan from the Lapo Microfinance Bank.
Special Loan
Here are the requirements you need to apply for a Special Loan from Lapo Microfinance Bank:
Requirements:
- 2 guarantors.
- An amazing repayment accomplishment during the span of your regular loans.
- Valid means of identity.
- Completed application form.
- 2 recent passport photographs
- Current utility bill.
And that is all you need to secure a Special loan from this Microfinance Bank.
Public Sector Loan
Here are the requirements you need to meet to apply for a Public Sector Loan from Lapo Microfinance Bank:
Requirements:
- Valid means of identification.
- 2 recent passport photographs.
- Last 3 months’ pay slip.
- You must have at least two years left in the public sector.
- Last 3 months’ bank statement.
- The application form.
And that is all you need to secure a Public Sector loan from this Microfinance Bank.
Agricultural Loan
Here are the requirements you need to meet to apply for an Agricultural Loan from Lapo Microfinance Bank:
Requirements:
- Current electricity bill.
- The application form
- 2 guarantors.
- Authentic means of identification.
- 2 current passport photographs.
And that is all you need to secure an Agricultural loan from this Microfinance Bank.
How to Apply for a Lapo Loan
Applying for a Lapo loan is very easy. What’s more, unlike other loan-lending platforms where you can apply online. But do not be discouraged because the entire process is quite straightforward. So, here is what you do:
- Firstly, go to the closest Lapo branch around you.
- Next, ask for the loan-type application form.
- For instance, if you are applying for a personal loan, ask for a personal loan application form.
- Fill out the form.
Attach all the important documents and submit them. Once you submit it, wait for your application to be reviewed. And if approved, you will be credited.
