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How to Get Poultry Business Loans in Nigeria Without Collateral

Starting or expanding a poultry business requires steady funding — from buying chicks and feeds to building pens and managing daily expenses. Unfortunately, most farmers in Nigeria struggle to access bank loans due to collateral requirements. However, several financial platforms, government schemes, and agricultural programs now offer poultry business loans without collateral.

Here’s how you can access funding to grow your poultry business without risking your property.

1. Apply for NIRSAL Microfinance Bank (NMFB) Agric Loan

NIRSAL Microfinance Bank offers agricultural loans to poultry farmers under the AGSMEIS and Anchor Borrowers Programme. These loans target small and medium-scale farmers, including those without collateral. Requirements:

BVN and National ID
Business registration (CAC) preferred but not compulsory
Poultry farm business plan
Bank account statement (at least 6 months)

Loan Features:

Up to ₦10 million
9% interest rate per annum
Repayment period: up to 7 years

How to Apply: Visit any NMFB branch near you or go to nirsalmfb.com to register under the agricultural loan program.

2. Access Bank’s “Creative Sector and Agric Loan”

Access Bank partners with the Central Bank of Nigeria (CBN) to offer low-interest loans to farmers. Poultry farmers can apply under the Agricultural Business Support Loan to buy feeds, chicks, or farm equipment.

Benefits:

No fixed collateral — guarantors and farm records may be accepted
Single-digit interest rate
Easy repayment structure

How to Apply: Visit any Access Bank branch and request the agricultural loan form or apply online via the Access Bank SME portal.

3. CBN Anchor Borrowers’ Programme (ABP)

This CBN-backed initiative supports smallholder farmers across Nigeria. It connects farmers directly to off-takers and provides loans for farm inputs like feeds, vaccines, and chicks.

Eligibility:

Must belong to a registered poultry farmers’ cooperative
Farm must be located within CBN-approved states for poultry farming
Must show farm capacity and commitment to repayment

Advantages:

No collateral required — your cooperative serves as security
Repayment is deducted after harvest or egg sales
Free technical support from partner institutions

Apply through your state’s agricultural ministry or your farmers’ association.

4. Bank of Agriculture (BOA) Smallholder Loan

The Bank of Agriculture (BOA) provides credit facilities to small and medium-scale poultry farmers. You don’t need physical collateral if you belong to a recognized cooperative group.

Requirements:

Proof of membership in a registered farmers’ cooperative
Valid identification
Simple business plan outlining poultry operations

Loan Features:

Minimum loan amount: ₦250,000
Interest rate: as low as 9%
Repayment: flexible and seasonal

Apply through the nearest BOA branch or at boanig.com.

5. LAPO Microfinance Bank Poultry Loan

LAPO Microfinance Bank is known for helping small business owners, especially farmers. The LAPO Agric Loan supports poultry farmers who want to expand operations without collateral.

Loan Details:

Up to ₦1 million available for poultry farmers
Repayment duration up to 12 months
No collateral — group guarantee system used instead

How to Apply: Visit any LAPO branch or apply online via their portal: lapo-nigeria.org.

6. Cooperative and Farmers’ Associations Loans

Joining a farmers’ cooperative or agricultural association can give you access to soft loans from government and private institutions. Cooperatives act as guarantors, allowing you to access funds without individual collateral.

Examples:

Poultry Association of Nigeria (PAN)
Farmers’ Development Union (FADU)

They often have access to agricultural funding and help members secure grants or interest-free loans.

7. Federal Government Grants for Poultry Farmers

From time to time, the Federal Ministry of Agriculture and Rural Development launches grant programs for local farmers. These are not repayable loans, and many small-scale poultry owners have benefited.

Recent Programs Include:

Youth in Agribusiness Programme (YAP)
National Livestock Transformation Plan (NLTP)
Agricultural Transformation Agenda (ATA)

To access, follow updates from the ministry’s official site or check your state’s agriculture office for registration.

8. Fintech Platforms Offering Agricultural Loans

Several digital lending platforms now support small farmers in Nigeria without collateral. These platforms use your transaction history or BVN score to determine loan eligibility.

Top Options:

Carbon – Offers business loans through app-based applications.
FairMoney – Quick access to short-term poultry business loans.
Moniepoint Business Loan – Supports registered SMEs with verified income.
Renmoney – Provides microloans to traders and small-scale farmers.

Apply using their mobile apps or websites, ensuring you have a valid BVN and business proof.

9. NGO and International Grants for Poultry Business

Some NGOs and international agencies provide grants to support sustainable poultry farming in Africa. These are competitive but completely collateral-free.

Examples:

Tony Elumelu Foundation (TEF) Grant — up to $5,000
African Development Foundation (USADF) Grant — up to $25,000
Youth Empowerment Fund (YEF) — ₦500,000 to ₦1 million

Applications are done online through the respective official websites.

10. Family, Friends, and Crowdfunding

If formal options are slow, consider raising funds from family and friends or through crowdfunding platforms like GoFundMe and NaijaFund. Present a clear business proposal showing expected profit margins and repayment timeline. This approach works well when you have visible farm results or plans for expansion.