Three Steps to Getting Agro-Export Finance

agro-export finance

Agro-export business is one of the lucrative businesses of the 21st century, especially because the agricultural sector is key to boosting the economy of every nation that invests in it. Also, food production is one thing that will stand the test of time. Since humans will always need food, demand remains constant, and so will supply.

Another reason the agricultural business is popular is the great variety of products that can be exported. Thus, other countries can benefit from your produce through agro-export while you make money from the transaction.

Here are three steps that can help individuals who need finance to venture into agro-export:

  1. Register your business

If your country does not recognise your business, there is every tendency that you will have legal problems with the government. Your business can only be recognised when you register it. The registration process involves submitting a business plan and filing the necessary information about your business through the Corporate Affairs Commission (CAC), and enrolling with the appropriate body in your line of business.

  1. Sign up with a loan company

In recent times, several companies have emerged that focus on loans for business owners, and those in agro-business are not left out. These companies provide the capital required to start as well as run the business for a period of time.

However, there are certain requirements that business owners must meet to qualify for such loans. All you need to do is carefully study these requirements, choose the company and plan that are perfect for your business, and sign up with the loan company.

  1. Get your papers ready

Before you can get a loan from any of the loan companies, you must meet certain requirements. Firstly, you must ensure that you have a valuable item that can be used as collateral. You must also get a guarantor, someone that can vouch for you.

Other things that qualify you for a loan are your workable business plan, business license – which can be acquired at the point of registration – and your financial records. If your financial records are not up to date as expected, you may be denied the loan.

With these three steps, you can rest assured that getting finance for your agro-export business will be a walk in the park. If you need help with any of these three steps, get in touch with ViableX here.

Photo by Md. Golam Murshed on Unsplash

Leave a Comment

Your email address will not be published. Required fields are marked *