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Appraisal Of The Problems Faced By Small Farm Holders In Accessing Loan Facilities
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1.6 SCOPE OF THE STUDY
The study is aimed at providing detailed knowledge and understanding of
the operation function and to determine the problems of obtaining loans
for financing agricultural production in Edo State through the Federal
Government Agricultural Credit Guarantee Scheme (FGACGS) found since
1977 with the view of providing useful suggestion to ease the problem of
agriculture development in Nigeria it is directed towards the
application of problems obtained for financing agriculture view of this
more emphasis will be placed in the success of credit facilities lending
procedure as a criteria of measurement.
The
performance of the commercial banks in the regard will be assessed by
using the present farmer’s areas to the agricultural credit facilities
as well as the hindrance which the small farm holders face in obtaining
loans from financial institutions.
1.8 DEFINITION OF TERMS
Credit:
This is the process of obtaining control over the use of money, goods
and services with promise to repay at a future data.
Agricultural
finance: This means way and means by which a farmer obtains the entire
necessary fund required in order to carryout agricultural production.
Interest: This means the price paid for the use of borrowed money and is usually expressed as a present on annuals basis.
Collateral: This means anything offered as a promised of loan repayment to be given to a lender in case of non-payment.
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ABSRACT - [ Total Page(s): 1 ]This work is designed to examine the problems faced by small farm holders in accessing loan facilities in Ovia North East Local Government Area of Edo State. The researcher examined the role of commercial banks in financing agriculture in Edo State. Recommend actions were made to resolve the problems faced by small farm holders in accessing loan facilities in Ovia North Local Government Area of Edo State questionnaires were designed in such a way to be able to elicit unbiased response from respo ... Continue reading---
