Financial assistance like poultry farm loans can be hard to come by. In most places, poultry farm loans are neglected due to the poultry farm crisis by most financial units to assist farmers who come seeking.
Every bank runs on a set of policies. Most banks will give you a loan on several conditions like how worthy your account is or if you have some valuable property equivalent
The truth is Agriculture in this modern world is much more than peasant farming. Poultry farmers especially rely on loans and other forms of financial assistance they can chance on. However, there are banks out there that give Agric loans in Nigeria and can be found in the list below.
What is the interest rate for agriculture loans in Nigeria?
Interest on loans differs in the various banks. Some banks charge low interest whereas other banks charge high interest. The Central Bank of Nigeria bears the subsidy resulting from this mandated rate and the market rate on all loans disbursed, as well as the Scheme’s administrative costs (CBN). However, under the Commercial Agriculture Credit Scheme (CACS) loan interest at the maximum rate is slated at 9 percent.