Youth & Women N5 million Agricultural Funds Programme Application Link Portal

Youth & Women N5 million Agricultural Funds Programme Application – Globally, agriculture has been identified as a major component in the achievement of the second Sustainable development goal which is to eradicate extreme poverty and hunger.

However, a major issue is the lack of Finances and the non-participation of enough Women and youths in Agriculture. Agriculture in Nigeria has been so limited to Aged Old men thereby resulting in little participation of youths and women.

Read: Sterling Bank SWAY-Agric Finance Loan Digitization 2022 – Apply Here

In a bid to curtail some challenges faced by smallholder farmers and alleviate the impact of the pandemic on their businesses. Sterling Bank introduced a novel product called Sterling Women and Youths in Agric. Finance.

It is a product put together to encourage youths and women who are passionate about agriculture to dive into agribusiness

To solving these challenges, this product has been modeled to target smallholder farmers, cooperatives, SMEs, and Anchor companies.  Small Holder farmers get up to N50 million depending on their project, Retail farmers get up N5million, SMEs 20 million, and cooperative and Anchor companies get up to N50 million. It also includes an interest rate of 9% P.A. with 0.5% management fees to be paid upfront.

The Agricultural activities That this product can finance include Crop: Arable crops and Annual Crops Examples: Maize, Rice, Soybean, Cassava, Ginger, Sesame, Vegetables (Greenhouse or direct on-field cultivation), Mushroom production, Animals with short growth and gestation period usually not more than a year Such as Aquaculture, poultry (Broiler production & Layers bird production), Piggery, Snailery, Livestock {Cattle, Sheep, and goat fattening (not rearing)}, Rabbitry, Grasscutter production.

Other value chains this can finance include livestock and crop derivatives Such as Honey production, shea butter processing, Oil palm processing, Cassava processing, Feed Milling, Ginger processing, Broiler processing, food, and beverage (e.g. fruit juice extraction). Commodity aggregation or mop up, warehousing, input supply (fertilizer, seeds, agrochemicals, etc.) LPO financing, lease financing, Asset (farm machinery) purchase.

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