In this post, you’ll find information about LAPO Microfinance Bank: Recruitment, Salary structure and Loans.
Often times, individuals that are looking to involve themselves with LAPO Microfinance Bank – whether as job seekers or candidates, potential investors, developers, or even loaners, are often left with the need to get possible answers to questions like;
- What are their recruitment processes like?
- How often are the job portals open, so interested candidates can apply therein?
- Do they allow room for staff developmental growth?
- What are the salary ranges like?
- Is there room for negotiation?
- How enormous are their interest rates?
- What and what do they require before they consider offering you a loan?
- Where is their head office?
If you are an individual with these questions and any other questions, then stick with me, as they would be answered as plainly as possible.
About The Lift Above Poverty Organization, LAPO, it is one of Nigeria’s leading Non-Governmental and Non-Profit Organizations with its head office in Benin city, but multiple franchises in some of the country’s (Nigeria) strategic cities.
According to the organization’s Media PR release about LAPO MfB, it was established in the late 1980s as a Non-Governmental Organization (NGO) by Godwin Ehigiamusoe in response to the effects of the implementation of the Structural Adjustment Programme (SAP) in 1986.
Through this initiative, they have been able to live up to their names and legacy, as they try to do whatever possible thing to alleviate poverty.
Again, the institution flags itself as one of Nigeria’s leading Microfinance Banks, as they stay true to their values, mission and vision. You would find the list of them below;
- Customer centeredness, and
- Life improvement.
Now, if you are a person who shares same values, mission and vision of this MfB, you may be looking to see way through which you can provide this organization with your skills and capabilities. This means that you should be looking out for their job placement ads either on their website, or on other very relevant job sites and media such as the one you have here.
Again, if you are looking to proffer your inputs to this organization, you have to learn about their recruitment process, and to what candidates they are looking to hire. We, at CareerAcada have made this whole process easy for you. You would find it below;
LAPO Recruitment Process
Firstly, I want you to know that it is very okay to be interested in wanting to work with an organization but without a clearly defined career plan. Maybe you have numerous skills, but isn’t exactly sure how to channel it. Maybe you did something totally different in a totally different sector; but seeing that LAPO is a Finance company, you’re not exactly sure how to go about it.
When we begin to check on your skills and competencies, I’m pretty sure there would be a few correlations as well as transferable skills that can help you thrive in this new sector.
Find below, a list of a few job roles or career paths you could follow when looking to work in Microfinance Bank as LAPO.
- Client Support Officer (CSO)
- Finance Officers
- Accounts Officers
- Customer Representative
- Legal Officer
- Business Development Officer
- Administrative Officer
- Sales Officer, etc.
If you check any of the above career paths, then you are a step closer to working with the institution you love; if you do not check any of the above boxes, please note that working with this organization is not limited to the above list.
Recruitment processes at LAPO MfB is not a stressful one. It’s quite easy and very straightforward. There are many ways to get across to them if you have an interest in working with them. I will be highlighting two most popular one on two different instances.
- When the portal is open and there is a job opening, you could head over to their website; navigate through it to “careers”, then select the job role you are seeking to establish in.
- You could also walk over to their offices if available in your city, and submit your Curriculum Vitae to the organization.
- What if there weren’t any openings and you are really seeking to work with this institution? You could head over to their website, and submit your CV via mail to firstname.lastname@example.org. During this process, clearly state why you are a good fit for this organization, what you can bring to the table, and why they should consider you.
- Or, you could also walk in to any of their offices closest to you, and submit your Curriculum Vitae.
PS: – Whichever be the case and instance you decide to send in your application and interests, please get yourself a professionally written CV. It does more than you know. I implore you to employ our services on this. We know our onions. Do well to reach out to us by clicking “Here”.
When your application is considered and in turn becomes successful, they would reach out via the mail provided, informing you on what day and time to avail yourself for an interview.
LAPO Microfinance Bank Interview Questions and Answer
May I know you or Tell me about yourself
Answer Sample: I’m currently working as mid level loan officer, where I’ve meet targets and won awards. I previously worked as marketing executives and I really enjoyed this role. I’m willing to expand my experience in a reputable industry like this, and I so much appreciate this opportunity.
Why should we hire you?
Answer: I am energetic and highly motivated administrative officer who’s capable to maintaining company’s records without any error.
Why do you want this job role e.g Loan officer job?
Answer: I will like to build career in this line and skill sets perfectly meet every requirements of a loan officer.
What do you know about our LAPO MFB?
Answer: LAPO MFB is a national licensed microfinance Bank with mission to help established business and alleviate poverty.
What are our core values?
Answer: Integrity, innovation, simplicity, excellence and customer-centeredness.
PS: These are only sample answers, be genuine with your answers and talk with passion.
LAPO Microfinance Bank Salary Structure
Just like every other organizations, the payment levels of this financial institution as well as salary earnings of the staff depends on a lot of factors. I’ll highlight them below;
- Job title and Role: Salary differs according to the role you are currently filling or looking to fill. The salary earnings of the Branch Manager differ from that of an Accounts or Finance Officer.
- Location: Salary commissions and earnings also depend on what cities these offices are located. In the same vein, it also differs based on where the staff lives in. Salary earnings for LAPO MfB staff based in Benin City, Nigeria may differ from those based in Lagos state, Nigeria whether or not they work on similar roles.
- Industry Standards: To every roles applied for, there are industry standard of salary payments. This MfB or institution does their research, and pays according to the standards of the industry – Give or Take.
Please note: The few points mentioned above are some of the things considered before a salary structure is prepared for each staff and LAPO Microfinance Bank salary structure mentioned here is based on estimate which can help you to negotiate better during interview.
The salary structure depend on level, mode of entry, line of service and experience.
A revenue generating line of service earns more than other departments. As such, loan officer/ client service officer earns about 103,000 monthly at LAPO MFB.
An accountant earns about 90,000 per month at LAPO MFB.
Mid-level staffs also earn upto 150,000 to 200,000 per month.
Mean while, Managers and top level management positions earns above 200,000 per month.
LAPO Microfinance Bank Loans
Years after establishment and spread, the Lift Above Poverty Organization came in with a new initiative called the LAPO Microfinance Bank SME Loans. This initiative was formed to support small and medium scale enterprises in Nigeria, without segregation of sectors and/or industry. The initiative seeks to support with as high as NGN5, 000,000 just for the expansion of any enterprise.
This of course is with a few documentation requirements and benefits.
You can find them below;
- Loan application letter
- Completed application form
- Current utility bill
- 2 guarantors
- A valid means of ID – National ID, driver’s license, voter’s card, or international passport.
- 4 recent passport sized photographs.
- No collateral
- Expert financial advice
- Flexible repayment structure
- Access to funds
- Training on basic financial management, business planning and customer relations.
LAPO Microfinance Bank Types of Loan / Products
- LAPO Microfinance SME Loan
- Small Business Loan (SBL)
- LAPO Microfinance Bank Agric Loan
- Education Loan
- Asset Loan
- LAPO Overdraft
- Affordable Housing loan
- Festive Loan
- Mid-Term Loan
- Regular Loan
- Special Loan
LAPO Microfinance Bank Interest Rates
LAPO Microfinance operate interest rate at reducing balance except for agric loan, education and housing loan that are charge at flat rates. The monthly interest rate is between 0.75% to 6% depending on loan products/types.
There’s also loan interest rate calculator to calculate your loan.
Frequently Asked Questions
LAPO Microfinance head office is located at No 18, Dawson Road, P.M.B. 1729, Benin City, Edo State, Nigeria. West Africa.
You can make use of bank deposit or transfer from your Bank app to your LAPO account or make direct deposit at the bank branch
The customer care phone number is: +234-813-984-0230 and +234-816-938-9739 or email at: email@example.com
LAPO Microfinance has over 200 branches across Nigeria
The website of LAPO Microfinance is www.lapo-nigeria.org
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