Major Sources of Finance for Poultry farmers
Sixty one (61) percent of the small scale poultry farm operators sourced their
finance internally from personal savings while 20% sourced funds from loans obtained from co-operative societies.
Lack or limited collateral securities, however, made it difficult to
obtain bank loans as only 10.28 percent could secure bank loans. Some poultry farmers, sourced finance from a combination of personal savings, bank loans and co-operative societies' loans.
Internal sourcing of finance from owners’ equity (personal saving) is constrained, as
most of the poultry farm operators had a weak financial base. Additional sources of funds are therefore required for the poultry operators to sustainably solidify their financial base with assured increased output level.