Benjamin Kalu Foundation gives grants and low interest loans for new farm start-ups. We support and empower rural people in small business development. Microloans are operating loans designed to meet the needs of small and beginning farmers, specialty crops and niche type operations by easing some requirements and offering less paperwork. The purpose of our micro loan scheme is to meet the small, young, beginning, socially disadvantaged farmers through a simplified loan application process. The microloans may be used to cover both annual operating expenses, such as seeds, animals, small equipment or other investments that farmers require for their operations, as well as to purchase farmland. In order to be eligible for the new microloan program, a farmer must have sufficient prior experience working on a farm, but borrowers will be given additional flexibility to include small business experience. We offer loan services to farmers who want to start, improve, expand, transition, market and strengthen farming to young people actively involved in agriculture needing financial assistance for income-producing agricultural projects.
Micro grants are small sums of money distributed to individuals living in extreme poverty, for the purpose of creating a sustainable livelihood or microenterprise. Grants are available to individuals to buy a farm or expand their business. To get a seed grant, you are typically limited to having been in operation for up to 5 years.
Grants and loans may be made up to $2,667 (the equivalent of N1,000,000) Microloan repayment schedules have been made flexible to suit the beneficiaries.