Goat Farming Business Loan - The Process to Apply for It

Goat Farming Business Loan - The Process to Apply for It

Posted On - 25 Sep 2021

“Goat Rearing - know where to apply and what documents have to be given.”

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Cow, buffalo, goat rearing has been done in India for a long time. One of the biggest things about goat farming is that it will be best for the poor farmers who can not keep cows and buffaloes. Goat farming costs very little, and profits can be taken many times more than this because the goat takes its diet by eating leaves of plants etc. In comparison, cows and buffaloes require more food than this. For this, animal feed etc. has to be brought from the market. From this perspective, goat rearing costs very little. For goat farming businesses, loans are available from banks, and the government also provides this subsidy.

Nutrients are Found in Goat Milk

According to a report by LiveStrong, goat’s milk contains small fat particles. Also, the protein available in it helps in reducing the problem of milk vomiting in young children. Goat’s milk is higher in selenium, niacin and vitamin A than cow’s milk. Studies have also shown that goat’s milk does not contain allergy-promoting ingredients compared to cow’s milk. In addition, the amount of lactose in it is also much less than that of cow’s milk. Studies also claim that goat’s milk also contains conjugated linoleic acid, a brain enhancer. Research on goat’s milk has shown that goat’s milk helps in better utilization of iron. This reduces the chances of reactions with minerals like phosphorus and magnesium, calcium and iron.

Benefits of Goat’s Milk

Goat’s milk controls blood pressure and increases the immune system. Along with this, goat’s milk makes our bones strong. In addition, research has shown that drinking goat’s milk reduces inflammation of the intestines. Therefore, daily drinking a glass of goat milk is very beneficial for health.

Demand for Goat Meat

In India, along with goat’s milk, there is a lot of demand for goat meat in the market. For meat lovers, goat meat is one of their favourite meats. Its demand is always there across the country. Due to good income in the goat farming business, many farmers are joining it. Farmers are benefiting a lot from this.

Improved Breed for Goat Rearing

If one wants to start goat farming commercially, then the Barbari goat is the best breed. The Jamunapari breed becomes pregnant at 22 to 23 months, the Sirohi at 18 months, while the Barbari becomes ready to give birth at 11 months. Thus, it can give two to three children twice a year.

Per Goat Cost for Goat Farming

It costs three thousand rupees to prepare a Barbari goat in a year, and its price in the market is up to ten thousand rupees. Now talk about the milk obtained from the goats of this breed, then these goats give one kg of milk per day and can live easily in all types of environment like summer, rainy, winter.

Loan for Goat Rearing

This is a type of working capital loan that can be used for a goat farming business. Like any business, goat farming business requires some amount to start. To meet the working capital requirements and maintain the cash flow, customers can opt for goat rearing loans offered by various private and government banks.

Loan For Works

Goat Farming Loan can be used for land purchase, shed construction, purchase of goats, fodder etc. The government has started many new schemes and subsidies for entrepreneurs to start goat farming businesses. Some of the significant schemes and subsidies launched with the help of banks or lending institutions are given below.

Subsidy for Goat Rearing

NABARD provides Goat Farming loans with the help of various banks or loan institutions. As per the scheme of NABARD, people who come under the below poverty line, SC/ST category will get 33% subsidy on goat rearing. Other people who come under OBC and general category will get a 25% subsidy, which will be a maximum of 2.5 lakh rupees.

Banks, Which Provide Loans for Goat Farming

The goat farming business is growing rapidly in India. Progressive, young educated farmers are adopting it. Good income in this business is attracting farmers for goat rearing. As a result, many banks are giving loans for goat rearing. The information of some significant banks is as follows.

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SBI Goat Farming Loan

The loan amount for goat farming will depend on the business’s requirements and the applicant’s profile. Applicants should present a well-prepared business plan that includes all the required business information like area, location, goat breed, equipment used, working capital investment, budget, marketing strategy, labour details etc. SBI will sanction the loan amount as per the requirement after the applicant fulfils the eligibility conditions. SBI may ask to produce the land papers as a guarantee. The percentage rate of interest may change depending on the profile of the applicant. 

NABARD Loan for Goat Farming

The main focus of the National Bank for Agriculture and Rural Development (NABARD) is to financially help small and medium farmers to increase the production of livestock farming which will ultimately grow employment opportunities. NABARD provides Goat Farming loans with the help of various banks or loan institutions. Under the scheme of NABARD, loans can be taken from these banks for goat rearing. They are as follows-

  • Commercial Bank
  • Regional Rural Bank
  • State Co-operative Agriculture and Rural Development Bank
  • State Co-operative Bank
  • Urban Bank etc.

 

Canara Bank Goat Farming Loan

Canara Bank offers Sheep and Goat Farming Loans to its customers at attractive interest rates. The loan can be availed to purchase goats suited to a specific area for rearing.

IDBI Bank

IDBI Bank provides loans for sheep and goat rearing under its scheme Agriculture Finance Sheep and Goat Raising. The minimum loan amount offered by IDBI Bank for sheep and goat rearing is Rs 50,000, and the maximum loan amount is Rs 50 lakh. This loan can be availed by individuals, groups, limited companies, Shepard’s co-op societies, and entities engaged in this activity.

Mudra Loan for Goat Farming

Since goat rearing comes under the agriculture sector, the loan for goat rearing under the Micro Units Development and Refinance Agency Mudra Loan Scheme launched under PMMY will not be provided by the banks. With the help of banks, MUDRA provides loans up to Rs 10 lakh to individuals and enterprises engaged in the non-farm sector for income-generating activities in the service and manufacturing sectors. However, the state and central governments have launched various loan schemes and subsidies to promote goat farming.

Documents Required for Goat Farming Loan

There are certain documents you will need while applying for a loan from the bank for goat rearing. These documents are as follows-

  • 4 passport size photographs
  • Bank statement of last 6 months
  • Address proof
  • Income proof
  • Aadhar card
  • BPL card, if available
  • Caste certificate, if SC/ ST/ OBC
  • Domicile certificate
  • Goat Farming Project Report
  • Land registry documents

 

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