In conversation with Glantine Mashile, MD of Geekay Agribusiness.Glantine shares invaluable insights on the challenges farmers face in securing loans from retail banks, particularly for black and emerging farmers. He emphasises the importance of proper business structuring, compliance, and record-keeping to become bankable.We discuss the types of capital available, including loans from retail banks and grant funding, and the common hurdles farmers encounter, such as lack of knowledge about financial products and stringent compliance requirements. Glantine outlines the critical factors banks consider when approving loans, including the purpose of the loan, the amount, security, repayment plans, and management quality.The conversation also touches on the volatility of the vegetable production sector and the difficulties in obtaining financial assistance compared to more regulated industries like grain or long-term crops. Glantine advises farmers to manage their credit life, keep detailed records, and seek expert advice to mitigate risks and improve their chances of securing funding.Visit: https://geekay.co.za/Contact:
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South Africa