Loan Allows Dairy Farmer To Upgrade
LEBANON - Lebanon Business Linkages Initiative (LBLI) is helping farmers to upgrade their operations, in order to reach new markets.
16 August 2011
1 minute read
(LBLI) helped dairy farmer, Michel Sarkis Nader, secure a loan from Byblos Bank to expand and upgrade his operations.
Programme staff coached Mr Nader through the loan process and walked him through the onerous paperwork.
Encouraged by LBLI, Mr Nader worked through the process and the bank rewarded his clear plan and expansion goals with a substantial loan.
With the loan and some additional funds, Mr Nader purchased 80 dairy cows, upgraded his milking equipment and farm buildings, and purchased refrigerated storage and feeding units.
With these upgrades and expansions, Nader expects his income next year to be over $67,000, more than double what he earned the previous year.
Since securing his loan, he has expanded his operations and is selling to a wider range of clients in the greater Beirut area, including some supermarkets. As his business grows, he hopes to expand to 200 dairy cows and to continue to modernise and upgrade his equipment.
“Without Mr Joseph’s determined follow-up, I would never have received my loan,” says Mr Nader.
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