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Total loan: $400
Kaduna, KD, Nigeria / Agriculture
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Bello's loan finished fundraising,
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A loan helped to increase his profit margin on the sale of maize.
Bello is a hardworking farmer who has the ambition to expand his land under cultivation and earn higher profits from farming. As a member of Babban Gona, Bello has access to high-quality inputs and enhanced farming services, which help to increase his yields. Furthermore, through training programs, Bello now practices farming in a more sustainable manner. For example, the agronomy education Bello receives focuses on micro-dosing fertilizers to lessen environmental impact and increase yields. Bello expects to reap 40 bags/hectare of maize from this year's harvest, more than double the national Nigerian average of 18 bags/hectare. Nonetheless, Bello needs a Harvest Advance loan to capture greater margins on his maize, instead of selling the grain at harvest when prices are low due to the high supply of maize. This Harvest Advance loan will provide Bello with the cash equivalent to his value of maize at harvest. Babban Gona will then help Bello to store his maize and sell it at a higher price over the next 6 to 9 months, guaranteeing higher returns. This is crucial for Bello as he plans on using the increased income to purchase additional farmland for a bigger harvest next season.