I need a grant/loan for my already established farm and also want to expand with the knowledge I have gotten but I need money to achieve this aim.......
Need you guys to help me

Go through nairaland post of today somebody gave an insight.

Think twice before going for any loan.

Your farm is established but you need to ask yourself if you have covered all loop holes which bring losses in Agriculture. Are you into crop or animal production? Are your products short, medium, or long term cycle production? Also, have you solved the issue of getting and managing reliable workers? You should not take small business farm workers management lightly. Failure in this area is on the top list of factors which affect farm to be not profitable. It takes time to understand it. No one can teach you. Experience is the best teacher.

I believe it is a small scale production you are targeting; hence, you need not only to learn just animal and crop production. You need to learn handling some other issues you cannot learn just by understudying someone or by reading. To learn these areas, you just need practical experience. For example, 99.9% farmers can afford only illiterates or workers they pay N30,000 per month. Even some farm owners are still paying N15,000. So, how do you handle these workers? For sure, they will rebel because they will soon start complaining that it is too small, but you will be running after paying back your loan. Conflicts in interest set in. Boss is running after getting off loan hook, workers start demanding for pay increment. Lol. How do you handle them when they start stealing your products or properties? If they leave, that can be disastrous too.

Getting loan might mean getting insurance and many other issues involved. Are you ready for this?

If I was your close friend, I would advise you against getting loan. You can apply for a grant if it is available but such is not easily available, and the competition of getting it is high. So, I always feel anyone waiting for only grants is not yet ready to have a profitable farm business.

If you must go for loans, BOA and BOI are two loans you can easily get. Go to any of their banks and ask for the requirements. These banks know what is going on. Trust me, if you can meet their requirements, it means you are ready to make your farm work out. Why? When you have to get 2 or 3 guarantors who will stand for you, I am sure the guarantors must be sure you have the required skills to make your business work out.

Also, most banks have agricultural loans department. Go to as many banks as possible and ask for the person in charge of Agricultural loans. If the officer in charge is not working in the branch you go to, you will be hooked up with him/her. Look out for hidden charges. This is very important. Make sure you understand all the charges invoved. Aim at getting single digit interest loan. Make comparison of all the offers on your table before you pick.

Note that some banks can send you one million messages daily. Why? You might be getting news relating to loans, tips, interests, advices, etc. And at the end of the month, you will be charged for this service. Lol. You better ask the officer in charge and cancel such service. Even after cancelling it, you might still be getting such messages. Banks are demons in this area. So, you must be alert. Always check your statement of account. Therefore, you may want to avoid any bank which is not doing internet banking. I think BOA is still not offering internet banking service (old skool bank......lol) but I do not think they kill with illegal charges. Anyway, make your research thoroughly.

Please, stay away from getting loans if you are not sure you can handle all I have listed above. Also, if you have not managed a farm before, stay away from getting loan.

Start small. Employ a worker. Learn the opportunities and threats in your business. Make sure you are 100% sure the only thing you need is cash before you take any loan; else, you are digging the grave of your business.

Again, stay away from getting a loan for your farm if you are not 100% sure your farm is going to work out. Get a loan only after you have tried all other means. Getting loan should be your last option after you have explored other options. Have you tried to talk to family and friends? Have you tried to display your skills in front of some potential investors? Have you actually practised farm management? Have you tried starting small? Do you have your strategies intact?

So, go back to your drawing board and list out other options. Make getting loan the very last option after all other options fail.

A word is enough for the wise.

Blessings!

fluentinfor:
Thank you for your advice,well said

fluentinfor:
Think twice before going for any loan.

Your farm is established but you need to ask yourself if you have covered all loop holes which bring losses in Agriculture. Are you into crop or animal production? Are your products short, medium, or long term cycle production? Also, have you solved the issue of getting and managing reliable workers? You should not take small business farm workers management lightly. Failure in this area is on the top list of factors which affect farm to be not profitable. It takes time to understand it. No one can teach you. Experience is the best teacher.

I believe it is a small scale production you are targeting; hence, you need not only to learn just animal and crop production. You need to learn handling some other issues you cannot learn just by understudying someone or by reading. To learn these areas, you just need practical experience. For example, 99.9% farmers can afford only illiterates or workers they pay N30,000 per month. Even some farm owners are still paying N15,000. So, how do you handle these workers? For sure, they will rebel because they will soon start complaining that it is too small, but you will be running after paying back your loan. Conflicts in interest set in. Boss is running after getting off loan hook, workers start demanding for pay increment. Lol. How do you handle them when they start stealing your products or properties? If they leave, that can be disastrous too.

Getting loan might mean getting insurance and many other issues involved. Are you ready for this?

If I was your close friend, I would advise you against getting loan. You can apply for a grant if it is available but such is not easily available, and the competition of getting it is high. So, I always feel anyone waiting for only grants is not yet ready to have a profitable farm business.

If you must go for loans, BOA and BOI are two loans you can easily get. Go to any of their banks and ask for the requirements. These banks know what is going on. Trust me, if you can meet their requirements, it means you are ready to make your farm work out. Why? When you have to get 2 or 3 guarantors who will stand for you, I am sure the guarantors must be sure you have the required skills to make your business work out.

Also, most banks have agricultural loans department. Go to as many banks as possible and ask for the person in charge of Agricultural loans. If the officer in charge is not working in the branch you go to, you will be hooked up with him/her. Look out for hidden charges. This is very important. Make sure you understand all the charges invoved. Aim at getting single digit interest loan. Make comparison of all the offers on your table before you pick.

Note that some banks can send you one million messages daily. Why? You might be getting news relating to loans, tips, interests, advices, etc. And at the end of the month, you will be charged for this service. Lol. You better ask the officer in charge and cancel such service. Even after cancelling it, you might still be getting such messages. Banks are demons in this area. So, you must be alert. Always check your statement of account. Therefore, you may want to avoid any bank which is not doing internet banking. I think BOA is still not offering internet banking service (old skool bank......lol) but I do not think they kill with illegal charges. Anyway, make your research thoroughly.

Please, stay away from getting loans if you are not sure you can handle all I have listed above. Also, if you have not managed a farm before, stay away from getting loan.

Start small. Employ a worker. Learn the opportunities and threats in your business. Make sure you are 100% sure the only thing you need is cash before you take any loan; else, you are digging the grave of your business.

Again, stay away from getting a loan for your farm if you are not 100% sure your farm is going to work out. Get a loan only after you have tried all other means. Getting loan should be your last option after you have explored other options. Have you tried to talk to family and friends? Have you tried to display your skills in front of some potential investors? Have you actually practised farm management? Have you tried starting small? Do you have your strategies intact?

So, go back to your drawing board and list out other options. Make getting loan the very last option after all other options fail.

A word is enough for the wise.

Blessings!

How can I contact you please? You have so much idea and I need to get to k ow you...Please don't ignore

@fluentifor has said it all...my little contribution is that their are currently two ongoing grants....tonyelumelu entrepreneurship grant and USADF..the latter I'm sure you don't qualify. Check up their website. You can equally seek for partnership and investors if you indeed have the skills you claim. Push your idea out, someone might just be interested.
Need online training on how to understand your financials....Budgeting, financial forecast, profit and loss statement, balance sheet...chat me 08153701613....
Getting funding is a serious task, you need to be well prepared.