Total loan: $400
Kano, KN, Nigeria / Agriculture
Flag of Nigeria
Usman's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to purchase additional farmland.
Following Usman's initial input loan request, he gained access to recommended pesticides and fertilizers and applied them on his field aiming to optimize his yield. Furthermore, through training programs, Usman now practices farming in a more sustainable manner. For example, the agronomy education he receives focuses on micro-dosing fertilizers to lessen environmental impact and increase yields. Usman 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, he 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 him with the cash equivalent of his value of maize at harvest. Babban Gona will then help Usman 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 Usman as he plans on using the increased income to purchase additional farmland for a bigger harvest next season.