#FarmersAdviceSeries: How to access loans for your Agribusiness


@fowobis We are here now!!!


sure…I am following. Thanks


Just wondering Sir, does that mean this loan can only be accessed by an established farmer?


Yes yes!!! We are Live!!


It is an online chat!!! You can join in anywhere…


The list of EDCs are available in the CBN offices located across the Country. For example in Lagos, SMEDAN, Animal Care, Fate Foundation, LBS, LSETF are examples of EDCs


@EAOMOTI Can ordinary farmers like us access these funds too???


The AGSMEIS scheme is opened to Start-ups who have good business plans. Besides AGSMEIS other grants you can consider are the Tony Elumelu Entrepreneurship Program and similar programs.


Sir, what are the usual mistakes made by primary producers when obtaining production financing?. Such insight can be use as a guide for loan application from commercial financial institutions.


Yes, But i would advice you focus on intervention schemes.


Besides this forum, is there a desk in all UBN branches where we can get bespoke advise on how to proceed?


Pls when interest rate on loan is quoted/stated as ‘all-in’ what does it meant in specific terms?


please how can get in contact an EDC/EDI in jos I have large Poultry building for layers but currently have only 500 due to insufficient funds


Sir, how much is AGSMEIS offering for farmers now?


Most primary producers do not articulate their needs properly. They largely focus on capital items- eg for a poultry farmer, most times , his/her focus is on getting a bank to build him/her a pen, buy the cages to rear the birds. These group of farmers usually will not look at the cost of rearing the birds if it is egg laying birds to peak lay. And also, most primary producers do not have a good understanding of the market- which ordinarily should be the driving force for production. This is why they run into difficulties mid way and banks see higher risks in this phase of the value chain


Why sir?? How much can I get with the intervention funds?


sure. Just walk into any branch and ask that you need information on agric lending


I think my problem Has been, lack of proper record keeping, its largely because most of my own buying and selling has been through a second person biz. But i think i should start thinking on how to go on directly so that i will have a proper record.
2. My location has been affecting my sale because am with the area where we have large farm who are into what am doing on sme on large scale


it is means that that is all the interest plus fees/charges. for example, a 9% in all-in, means that you will only pay 9% on that loan. not more


Pls visit CBN office in Jos for the list of EDI