LAPO is committed to providing a range of appropriate financial services to its clients. The basic unit of the organization is a LAPO Group of 30 clients. 2-6 groups federate to form a LAPO Union at the community level.
- Savings Products:
- Regular Savings: clients make weekly deposits into their savings accounts at group meetings. Average installment size is N40 (33 cents). It is compulsory and withdrawal is only allowed at termination of relationship with LAPO.
- Voluntary Savings: the voluntary savings product was introduced to offer capital building opportunity for clients. Clients are encouraged to set aside surplus funds.
- Credit Products:
- Regular Loan: these are given to groups to meet working capital needs for income generating purpose. Loan tenor is 32 weeks and interest is paid weekly at group meetings.
- Festival Business Loan: these loans enable clients to benefit from high business activities associated with festival periods. Disbursement is made in October/November with repayment due in January of the succeeding year.
- Farming Loan: disbursement and repayment schedules reflect pattern of activities in the farming cycle. Repayment of 30% of principal with interest is made by installment during the farming period from non-farm income while the final 70% is made at harvest.
- Asset Loan: for investment in income generating assets, such as small power generators, sewing machines, and vehicles.