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62%

funded

6 days left

$150.00 to go

Total loan: $400

Basiru

Kaduna, Nigeria / Farming

A loan of $400 helps to purchase additional farmland.

Basiru's story

Following Basiru'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, Basiru now practices farming in a more sustainable manner. For example, the agronomy education Basiru receives focuses on micro-dosing fertilizers to lessen environmental impact and increase yields.

Basiru 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, Basiru needs a Harvest Advance loan to purchase additional farmland in order to expand his farming operations. This Harvest Advance loan will provide Basiru with the cash equivalent to his value of maize at harvest. Babban Gona will then help Basiru to store his maize and sell it at a higher price over the next six to nine months, guaranteeing higher returns.

This is crucial for Basiru, as he plans on using the increased income to purchase additional farmland for a bigger harvest next season.

Previous loan details

Basiru who is 38 years of age and married with 2 children lives in a rural town in Kaduna, Nigeria. He lives in a small community where maize farming is the major occupation and means of living. Due to the very low income obtained from the farming business, it has become difficult for farmers like Basiru to support their families' needs. This is a major challenge common to smallholders regardless of the yield they achieve during harvest. By working with Babban Gona, this loan will not only enable Basiru to get access to better-yielding seeds, fertilizers and other essential farm inputs that will boost his yield but the loan will also help him earn up to 2.8 times in net income, compared to the average Nigerian farmer from selling his maize to premium buyers hence ensuring that Basiru can continue to provide for his family. At the end of the season, Basiru plans to use the profits he earns from his harvest to purchase additional farmland so as to expand his maize farming operations

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This loan is special because:

It supports smallholder farmers and helps them increase yields.

David, Kiva staff

David
Kiva staff

More about this loan

This loan is aimed at helping smallholder farmers. The farmers are divided into Trust Groups and deliver training and development services, inputs like seeds on credit and post-harvest marketing services. This system increases farmers’ yields up to 4 times the national average. In addition, Babban Gona markets its farmers’ produce to premium markets over the course of the year, ensuring that they receive the best price possible for their produce and have a steady flow of income year round. Kiva loans are used to help Babban Gona expand its services to more rural areas in Northern Nigeria. Babban Gona posts loans before the inputs are provided so there is a chance that farmers will change their input package after the loan is posted. As a result, the loan amount may slightly change after you fund the loan, and any difference will be repaid to you when the first loan repayment is made. By supporting this loan, you’re providing farmers with the opportunity to increase their yields.

Loan details

Loan length:

15 months

Repayment schedule: At end of term

Disbursed date: November 17, 2020

Funding model: Flexible

Partner covers currency loss? No

Facilitated by Field Partner: Babban Gona Farmers Organization

Is borrower paying interest? Yes

Field Partner risk rating:

Lenders and lending teams

Country: Nigeria

Field Partner: Babban Gona Farmers Organization

Why Kiva works with this partner:

Like Kiva, Babban Gona is committed to expanding opportunity in remote areas of the world by helping people build knowledge, sharpen their skills, grow their businesses and ultimately improve their living standards. Aiming to decrease unemployment in Nigeria, the organization offers loans to male and female farmers to increase their harvest yields and profitability.

Babban Gona is also Kiva’s only current field partner in Nigeria, expanding our organization’s footprint to another country where microfinance can make a major impact.

Time on Kiva: 94 months

Kiva borrowers: 16,631

Total loans: $3,287,500

Average cost to borrower: 18% APR

Profitability (return on assets): -1.4%

Average loan size (% of per capita income): N/A

Delinquency rate: 0.00%

Loans at risk rate: 0.00%

Default rate: 0.00%

Currency exchange loss rate: 6.37%

More about Babban Gona Farmers Organization

What is a Field Partner?

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Repayment schedule

Show advanced

	Expected	Actual	Comments
Feb 2022	$400.00	Available Feb 1

	Expected	Amount	Actual
Feb 2022
From borrower to Field Partner	Dec 31, 2021	152,611.09 NGN
From Field Partner to lenders	Feb 2022	$400.00	Available Feb 1

*This loan is impacted by the COVID-19 crisis and your support is needed more than ever. Repayments may be delayed or lower than expected.