MicroCredit Enterprises loaned $800,000 to the Lift Above Poverty Organisation (LAPO), $500,000 to International Micro-Loan Fund (IMON), and $300,000 each to Associacion Benefica PRISMA and EDPYME Confianza.
Established in 1991, LAPO is a Nigerian non-profit organization whose clients are 98% women. According to its MIX Market profile, it had 54,460 clients, assets worth $5.3 million, and a total loan portfolio of $3.4 million at year end 2005. As well, its debt to equity ratio stood at 138% and return on assets was 12%.
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