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When undertaking a new project that could facilitate growth in your business many things need to be taken into account. Funding is one of those factors. If you do not have adequate funding then your plans might fall apart. This is where a loan comes into play.

There are many public and private organizations that you can turn to in terms of acquiring financial aid. Of course, your choice can be narrowed down to what you may specifically need for an exact purpose as regards the type of business you are involved in.

For those of you who are involved in, or interested in agriculture, then this bit of information is for you!

Loans for Agri-Business

If you are a farmer or seeking to become a farmer as a business venture, then it is best that you become familiar with the Agricultural Development Bank.

The Agricultural Development Bank or ADB is a corporation with the mandate to

“Encourage and foster the development of agriculture commercial fishing and associated industries, i.e. the ‘farm to plate concept including all segments of the production chain-support services, marketing, and agro-processing.

They offer aid to almost anyone seeking to develop themselves in the field of agriculture. (pun intended)

One specific loan that the ADB offer is its New Reality Loan, which gives up to 80% financing for any viable agricultural project. The interest rates that they have is competitive with other financial institutions and have flexible payment options to fit each individual’s situation.


Here are some situations where the New Reality Loan can be of use

  • Business start-up, expansion, or project rehabilitation
  • Working capital
  • Debt consolidation
  • Purchase of equipment, machinery, farm vehicles, or technology solutions such as irrigation, and greenhouse construction
  • Construction of farm buildings
  • Infrastructural development (private roads, drainage, irrigation ponds, security, etc.)


How do you get a loan?

There are some stipulations and regulations that must be followed and adhered to if you are to be successful in acquiring this loan or course. The first step in the process is to contact the ADB’s customer service centers to check if your type of business is viable to benefit from the loan. Next is to register your application. A personal Loans Officer will contact you to do a field visit to complete an appraisal and submit their report for a final decision. Once you’re approved for the loan all the legal documents will be prepared for your review and signing.


Other things need to be considered as well when accepting a loan, such as collateral and other documentation that will be needed. The Agricultural Development Bank’s website has all the information ready and available for your perusal. I will leave a link where you can take a look for yourself.

With some diligent research and a bit of patience during the process, you will undoubtedly be on your way to taking the first steps in your new business venture!

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