Funding Poultry and Fish Farms is perceived as difficult, high risk, and insufficient by many farmers. Vetsark Limited aims to provide comprehensive supply and demand for poultry and fish finance in Nigeria
Why Funding Poultry and Fish Farm?
A crucial element of many present-day and future poultry and fish farms and agribusinesses is finance. Finance for agriculture is typically necessary to provide working capital to improve volumes, assets to increase value addition, or inputs to increase productivity.
Waec GCE expo aims to specifically raise funds from banks to support the expansion of farms and agribusiness. Farmers face barriers to financing and input access primarily related to application quality and affordability.
To ensure the impact on productivity and profitability, technical support is provided in addition to input financing. Vetsark Limited primarily provides money to farmers and is a Fintech company.
A comprehension of poultry and fish farms and agribusiness value chains is also provided, along with helpful advice on how to create and introduce long-term financial services for the agriculture industry.
Challenges in Financing farms and Agribusiness
Nigerian agribusiness has not advanced much over several decades, despite numerous government initiatives. Many farmers still struggle to get the funding they need to expand their operations and mechanize their farms, which keeps them trapped in a cycle of poverty.
Sensible financial management can boost the productivity and profits of rural communities' agricultural activities, which will help poultry and fish farms as a whole.
Some of the challenges of financing farms and agribusiness, of which has come in to provide solutions, are listed below:
Access to Finance Services on Rural Farms: Lack of access to finance services for poultry and fish farms in rural communities in addition to many modern comforts of living, has been a major obstacle to agricultural development.
Lack of Acceptable Collateral/Security: Many rural farmers lack acceptable collateral with which they can secure
Lack of Access to Credit Information: One of the biggest barriers preventing many poultry and fish farmers from getting financing through various government schemes is their lack of knowledge about the financial options available to them.
High Cost of Rural Loan: Rural loan credit administration costs are frequently very high. Poor communication infrastructure and the transportation network are to blame for this. Likewise, because rural farming entails a variety of risks, rural credits have significant default rates.
Microcredit High Interest Rate: Occasionally, farmers are forced to turn to microcredit providers such as thrift and money lenders, which usually charge exorbitant interest rates for short-term loans.
Vetsark Limited motivated poultry and fish from the imperative to investigate the issues and potential of financing for their agribusiness in Nigeria. We raise money to support farms and agribusinesses that are typically underserved by traditional lending institutions.
For Nigerians, particularly the impoverished, agricultural financing offers a wealth of opportunities since it will allow them to engage in production and skill development, among other things.
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