Are you a young, aspiring agricultural entrepreneur with big dreams for your business, particularly in cassava and potato processing? Do you find yourself shying away from external funding, believing you can bootstrap your way to success? It’s time to rethink that approach!
While self-reliance is admirable, the reality is that agricultural businesses, especially those focused on processing, require significant capital to thrive and scale. They’re not like a community project relying solely on donations. To truly establish and transform your agribusiness, strategic financial support is often essential.
This is where the Bank of Industry (BOI) comes in. For young processors who are serious about their ventures, BOI offers incredible opportunities to secure the funding you need to grow.
Why BOI Loans Are a Game-Changer for Processors:
- Accessibility for Registered Businesses: If your agribusiness is officially registered with the Corporate Affairs Commission (CAC), you’ve already taken a crucial step towards accessing BOI loans.
- Guarantor Support: You don’t need a massive network to qualify. With just one civil servant at Level 12 or above and a business that isn’t a bad debtor, you can secure a guarantor for your loan application.
- Affordable Equity Contribution: BOI understands the challenges of starting an agribusiness. You’ll only need to provide 10% of the loan amount you intend to collect, up to ₦15 million. This significantly reduces the initial financial burden on young entrepreneurs.
- Flexible Repayment Options: We know that agricultural cycles can be unpredictable. BOI stands out because they truly understand this. Even if you encounter temporary payment difficulties, they’re known for offering flexible repayment arrangements and more time for repayment, as long as your business remains operational and active. This commitment ensures your business won’t collapse due to rigid payment schedules.
At AyosifamHub, we understand the potential and the challenges in the agricultural sector. We firmly believe that with BOI’s support, your agribusiness has a much stronger chance of not just surviving, but flourishing. The resources you need to establish and transform your agriculture business are readily available.
AyosifamHub: Your Partner in Cassava and Potato Transformation
If you’re passionate about working in the transformation of cassava and potato, we at AyosifamHub are here to help. We can guide you through the process, helping you harness these opportunities to build a sustainable and profitable business.
The fear of loan repayment is a common one, but it’s time to embrace the future and keep pushing forward. Securing a BOI loan is an investment in your growth, an investment that can lead to greater market opportunities for cassava and potato products. This, in turn, helps to reduce post-harvest losses, enrich our farmers, and ultimately reduce poverty and unemployment in our communities.
Don’t let perceived limitations hold you back. The support is there. Are you ready to take your agribusiness to the next level?
