Poultry Farming in Nigeria: How to Get Low Interest Loans For Set Up   7 comments

Post 28
A Nigerian bank known as the Bank of Agriculture,owned by the Federal Government of Nigeria is giving out loans to genuine farmers who can prove their genuineness.The F.G.N has provisioned N200 Billion as loans to farmers and the steps to access the loan are straight forward if you are a genuine person with genuine intentions.If you are an unemployed Nigerian graduate looking for paid employment,pay attention to this post and take a step of faith to key into it.

The steps to obtain the loan are as follows:
1) Locate the office of the Bank of Agriculture that covers the area or local government area where your farm is situated and open an account with the bank with a minimum deposit of N3000.00

2) For the ‘Know Your Customer’ (KYC) requirements, you must present your NEPA Bill which confirms your place of residence + any of the approved means of identification such as International Passport, Drivers License, National Identity Card or Voters Registration Card.

3) Other requirements are:
Complete and signed account form
Complete and signed mandate card
Present 4 passport photographs of yourself

4) You must run and operate the account for at least 3 -6months before applying for the loan. Do not think that you can just open the account, abandon it and show up after 6 months for the loan. The loan is not the usual national cake and the bank, newly repositioned, is not fooled. If you play that old game, the bank will doubt your integrity and commitment to repay the loan if granted and that means you may not get it.

Running and operating the loan means that you make it an active account. This means making sure that you save money and withdraw from the account on a regular basis. The bank wants to see that there are transactions going on in the account. Therefore, you should make regular deposits and withdrawals on the account during the 6 month period to create an active relationship that makes the bank have confidence in you.

5) You must have an existing farm, at a fixed location and the farm must have its record of operations and activities on a daily basis neatly kept. The era of armchair farmers/political farmers/farms of no fixed address/classroom farmers are over. The bank will visit your farm for inspection when you apply for the loan.

6) The bank will check what you have on ground; see how far you have gone; what the loan is required for, and ensure that the loan is appropriate for what it is required. The bank wants to know whether you have an adequate knowledge of your area of farming business. You must be able to demonstrate the practical hands-on experience in your area of farming. The bank wants to know whether you have a project you are working on and the fund requirements. And within a month of the inspection, the loan will be approved if the bank is satisfied.

You can obtain a loan of N250,000.00 from the Bank of Agriculture without any collateral.With this amount,you can set up a small backyard chicken business that will pay more than the elusive salary job you are seeking. Some graduates earn N15,000.00 monthly in the name of earning a salary.What a pity!I will show you how to go about setting up a small chicken business with as low as N250,000.00.

One Mr Christopher,a graduate based in Akwa Ibom State,following this blog, started with 87 day old broilers and with a budget of N70,000.00. He lost only 3 of them and sold the remaining 84 at 7 weeks old for N1000.00 each. He made a neat profit.He is now looking for land to buy to do it on a larger scale.

What are you waiting for?
Get the location ready and put it into preparation before inviting the bank for inspection.
Then, go open an account with the Bank of Agriculture and operate it as required for at least 6 months.Make an estimate of the farm’s fund requirements and get it ready before applying for the loan.

For unique poultry reports,visit the poultry reports section @ http://www.poultryaffairsng.simplesite.com

John Ayodele


7 responses to “Poultry Farming in Nigeria: How to Get Low Interest Loans For Set Up

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  1. Pls as a new beginner i have read many of ur post and have digest it but as u said that report 1,4 and 6 is is good for beginner pls how can i reach u or were can i orther 4 the material pls i need it thank u may the lord be with u and ur household

  2. Hi, thanks for the good work, please I need a sincere advice am a starter in this business, still building my pen house almost through with it, but I really want to know if I can start with DOC or POL chickens for a start.

  3. this is a beautiful and enpowing blog . have been having it in mind of involving my self into this n to God be the glory I was giving an agricultural cos in funaab . I will be finishing next year buh I wanna put up a small poultry farm against next year pls I need some advice from u.

  4. I am a graduate of businesses administration. I’m currently have 75 broilers and 60 layers. And this is my fourth years experience in poultry farming. I really want to go into large scale farming but I do not have access to fund/loan. My local government area is Ibadan North East Local Govt. Ibadan Oyo State, I don’t know any Bank of Agriculture in my Local Govt. could you please give me information on how to locate Bank of Agriculture in my LG, if, there is any. My Email Address is boyebadmus247@yahoo.com my phone number +2347038022133. hope to receive educative information very soon.
    Bide I Badmus.

    Due to the economy crisis we are facing now andThe problem of unemployment and starvation in the country
    Federal government has come up with a low interest rate empowerment loan scheme to empower individual ,public sector to enable them collect a loan without a collateral so they boast their business and capital and be self reliance.if you are intrested notify by saying am intrested by email. fgagricloan.cbn@gmail.com or Contact Mr. GIabriel Adebayor the sales manger on agricultural empowerment loan.on 09059954234 he will direct you on how to get the loan.

  6. Getting a business loan is a major hurdle facing small businesses,mainly due to tight lending standards by banks.
    But obtaining outside financing is often necessary to start or grow a business or cover day-to-day expenses,
    including payroll and inventory.
    Do you need a need? Personal Loans? Business Loans? Mortgage loans?
    Agricultural and project funding?
    We give out loans at 3% interest rate! Contact email
    conadofinconsults@hotmail.com OR CALL +2349067084172

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